Several parties interested in rescuing Southampton

It appears as though progress is being made in the quest to bring English Southampton’s parent company out of administration. According to an unidentified source, Southampton Leisure Holdings has received interest from several parties, as reported by The Guardian.

The group of individuals consists mainly of wealthy Brits, with many expected to pursue the business aspect of the deal, as opposed to holding true interest in the sport. The source further noted that no offers have been presented by hedge funds or private equity firms, even though they were initially attracted to the club.

The matter is expected to progress as quickly as possible, with the summer quickly approaching – a key season affecting the financial status of football clubs. While players continue to be paid throughout the summer months, there is no revenue coming on during the off-season.

Southampton entered into administration just a couple of weeks ago, following a series of monetary difficulties. The parent company was unable to keep up with player wages and costs, totalling an approximate GBP 28 million in debt.

Representatives from Begbies Traynor have since stepped in as administrators.

In addition to economic struggles, the club continues to regain its status, after a 2005 drop from the Premier League. Now, with two matches left to go in the current season, Southampton’s future in The Championship league remains uncertain.