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Page last updated at 15:21 GMT, Friday, 29 May 2009 16:21 UK

Le Tissier group eyes Saints deal

Matthew Le Tissier
Saints legend Le Tissier is backing the Pinnacle Consortium

Southampton's administrators have announced the club is entering into a period of exclusivity with the Pinnacle Consortium over a possible takeover.

The group, backed by club legend Matt Le Tissier, will have exclusive rights for 21 days to try to complete a deal.

The deal ensures the club can now pay its staff wages in full for May.

Southampton were recently relegated to League One and will start next season on -10 points next season after their parent company went into adminstration.

606: DEBATE
SaintBirdseye

Administrator Mark Fry, who has helped manage the club's finances since Southampton Leisure Holdings plc went into administration on April 23, describe the announcement as a "significant development in the sale process."

Prior to the announcement about the Pinnacle Group, Fry had said he was in "deep talks" with four groups about the possible purchase of the club.



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see also
Southampton unable to pay wages
28 May 09 |  Southampton
Dyer completes switch to Swansea
02 Jun 09 |  Southampton
Southampton sale 'unlikely'- Fry
18 May 09 |  Southampton
Administrators debate Saints bids
03 May 09 |  Southampton
Saints takeover deadline 'tight'
29 Apr 09 |  Hampshire
Takeover interest for Southampton
06 Apr 09 |  Hampshire
Southampton may launch points appeal
23 Apr 09 |  Football
Southampton fall saddens Beattie
29 Apr 09 |  Southampton
The rise and fall of the Saints
24 Apr 09 |  Football
Saints boss 'pleaded with board'
24 Apr 09 |  Southampton
Delap sorrow at Saints situation
24 Apr 09 |  Stoke
Penalised Saints face relegation
23 Apr 09 |  Southampton


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