Lowe place to run
Last updated : 16 May 2006 By Chris C
After weeks of investigation into all aspects of the club and negotiation with the board, Michael Wilde has been forced to take the last resort of an EGM to force through the changes he and others believe are in the best interests of the club.
Chief among the criticisms and barriers are the lack of separation between the roles of Chairman and Chief Executive. Wilde has sought to address this in behind the scenes discussions with the board to minimise disruption to the club, but despite reaching agreement in principle in a number of areas, he has been frustrated in actioning the change.
Wilde indicated his full support for George Burley and is keen to have as little disruption as possible to his summer transfer plans, although has yet to announce whether or not there will be additional funds available to spend.
Interestingly, Wilde is not proposing himself as Chairman or Chief Executive, instead recommending the appointments of experienced heads Ken Dulieu as Chairman and Jim Hone as Chief Executive (former Chief Exec at Fulham FC).
In his official statement Wilde explained: "It has been clear for some time that a wide body of shareholders and supporters of Southampton Football Club believe that fundamental change to the senior management of the Company is required to get the club moving again in the right direction.
"As a significant shareholder in the Company I share this view. There have been protracted negotiations and discussions with Mr Lowe with a view to taking such matters forward positively. Sadly these have been inconclusive.
"It is important to stress that strenuous efforts have been made to reach an amicable, mutually agreeable arrangement. However, despite numerous attempts, this has not proved possible.
"In the circumstances, we believe that we have been left with no choice but to put to shareholders resolutions which will result in wide ranging changes to the board and the executive management of the Company.
"A circular to shareholders in connection with the EGM will set out in full our reasons for proposing these changes and it is our intention to discuss with as many of the Club's shareholders and supporters as possible how we intend to take this great football club forward.
"We wish to make clear that, should these proposals be carried at the EGM, the new board will be providing full support to the current First Team Coach."
As on previous occasions Wilde has made a statement direct to the fans which you can
read here.
Lowe has issued what seemed a matter-of-fact response on the club website, though quite how he can describe it as 'premature' after weeks of negotiations is a mystery:
"It is premature to voice any opinion as to whether the changes proposed are in the company's best interests or not. To help in this process we may ask Mr Wilde to set out the detail of his proposal as this not present in the notice.
"The removal of five out of nine directors from the plc Board is a major change for the company and it is our intention to make sure that shareholders have the full story at the earliest possible opportunity.
"As and when a date is set for the EGM all shareholders will be given the appropriate notice and will be able to vote on the changes as individual resolutions either in person or by using the ballot paper which will be sent to them.”
However, Sky Sports reported the full statement which puts an entirely different complexion on it: "After 10 years of building up this club I am not prepared to hand over to a bunch of amateurs. We are the legitimate board and the EGM will decide our future."
Fighting talk indeed and an indication of why 'amicable' talks broke down.
Lowe has 21 days in which to call an EGM and a further 28 in which to hold it.
