The Matthew Le Tissier backed Pinnacle consortium have entered an exclusivity period with the aim of completing a buy out of Southampton within three weeks. The group have paid the £500,000 non-refundable deposit that will allow the staff and players at the club to be paid their wages for May. They now have the opportunity to complete full due diligence before deciding whether to proceed with their proposed offer for the club, which has been given the seal of approval by the major creditors.
The Matthew Le Tissier backed Pinnacle consortium have entered an exclusivity period with the aim of completing a buy out of Southampton within three weeks. The group have paid the £500,000 non-refundable deposit that will allow the staff and players at the club to be paid their wages for May. They now have the opportunity to complete full due diligence before deciding whether to proceed with their proposed offer for the club, which has been given the seal of approval by the major creditors. They have beaten three other groups to the exclusivity period – a duo of Irish businessmen, a consortium led by businessmen Stuart Green and Marc Jackson and another group believed to be from Zurich.
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