Friday, 29 May 2009

Good news at last

At last. Nearly two months after Saints went into administration, serious progress has been made in the fight to save the club. The administrators have entered into a 21 day period of exclusivity with the Matt Le Tissier-backed Pinnacle group, who have been negotiating on behalf of wealthy investors.

Fans should be cautious- this news does not mean a deal has been done. It does, however, indicate not only that this group is serious but that the administrators believe them to be so. Crucially, it also means wages at the club can be paid for the month of May; the group stumped up a non-refundable £500,000 deposit in return for being granted exclusivity. Hopefully now the end is in sight.

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