The lawyer for the parent company of Southampton Football Club, Southampton Leisure Holdings, is confident the Championship side will avoid a points penalty for breaching financial rules.
In an interview with BBC Radio Solent, Michael Fiddy, who was appointed after Southampton Leisure Holdings called in the administrators, believes the Saints have the law on their side.
There is mounting speculation that the Football League could choose to impose a points penalty on Southampton for going into administration, although Mr Fiddy believes this course of action is not open to the league's governing body as it is the parent company rather than the football club that has run into financial difficulties.
"The rules relate to part of the undertaking of the business going into administration. If that occurs, then there is a deduction of points," he told the station.
"The holding company of Southampton, Southampton Leisure Holdings PLC, isn't part of the undertaking of the business. It holds the shares in the football club."
Meanwhile, Rupert Lowe, who gave up his position as executive chairman of Southampton Leisure Holdings when the company went into administration last week, described the situation as "very serious".
In an interview with Sky News, he said: "For the holding company to be placed into administration itself, it's a tragedy. Obviously, if finance isn't forthcoming, the consequences really don't bear thinking about."
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
