Printer-friendly pageMonday, October 22, 2007
Saints have revealed that the plc board has agreed in principle to proposals which would see a mystery investment company buy into the club.
The unnamed UK-based investor would purchase 55% of the shares in parent company Southampton Leisure Holdings.
The investor has “confirmed that it has the financial capacity to support the club and strengthen the squad”.
Times Online suggests the investor involved is Ray Ranson, the millionaire businessman, who has already failed with attempts to buy Manchester City and Aston Villa.
The proposal, which would require the backing of shareholders, was revealed in a statement to the Stock Exchange.
The club statement continued: “The investor proposes to become the majority shareholder by injecting a substantial sum directly into the company by means of a placing of new shares and to commit additional funds in order to acquire a tranche of pre-existing equity from current shareholders by means of a partial tender offer”.
