Football League to Hold Emergency Meeting Over Southampton Takeover

The Football League is to hold an emergency board meeting on Monday to discuss the Pinnacle Group's attempts to take control of Southampton, with one of the consortium's conditions ahead of the takeover apparently centering on its right to appeal against the club's 10-point deduction, which will apply next season.

The group, fronted by the former Southampton midfielder Matt Le Tissier, had hoped to take control of the League One side today on the final day of their three-week exclusivity period, only to be frustrated with its solicitors unhappy over two legal aspects of the negotiations with creditors. Principal among the concerns is that a notice of withdrawal, issued by the Football League when the club was deemed to be in insolvency proceedings, be withdrawn to ensure that Southampton can compete as a league club next term.

"There are a number of very small issues that remain, the principal one of which is the Football League situation," said the joint-administrator, Mark Fry. "They have agreed to have an emergency meeting on Monday, but until any bidder can be satisfied about membership of the League they won't complete a purchase of the club."

Pinnacle hopes to argue that the football club was never in administration. Instead, it was the parent company, Southampton Leisure Holdings plc, which called in the administrators with the potential new owners arguing the 10-point deduction should therefore not apply.