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Former Southampton chairman Rupert Lowe will not support the proposed takeover of the club by hedge fund Sisu Capital. The proposed deal would see Sisu take a majority stake in the Championship club's parent company, Southampton Leisure Holdings. Lowe said that he had made suggestions to Sisu about the structure of the deal. But he revealed, 'They are adamant that they will not change their outline, so for now they will not receive our support.' Sisu's proposed offer would be executed by means of placing new shares at 40p per share - 20 per cent below the current share price - but it needs the backing of 75 per cent of shareholders. Without the backing of Lowe and other former chairmen Michael Wilde and Leon Crouch the proposal is unlikely to attract the necessary 75 per cent support. If the deal falls through, Southampton have said that they will have to have a fire sale of players in the transfer window.
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