Administrator wants to sell Southampton FC quickly

As revealed in Saturday’s Daily Echo, the group will be given access to Saints’ books before deciding whether to enter a final stage of due diligence.

Jackson and Green were the first to benefit from a stipulation of purchase being dropped by administrator Mark Fry, whereby interested parties would have to lay down a non-refundable £500,000 deposit to gain access to the books and gain exclusivity.

As no one seemed willing to take the gamble that the books might paint an even bleaker picture than expected and run the risk of losing the £500,000, Fry has seemingly relented, although no exclusivity is being offered as a result.

The £500,000 is understood to be required in order to pay the next month’s wages at the club and Fry is becoming increasingly frustrated in his attempts to find a buyer.

So, although the Jackson and Green group have first run on seeing the books today, having upped their initial bid of £8m, they could still be trumped by another party if a rival bid was to be put on the table.

Due diligence in this case is expected to take around five days, about half the time that would normally be expected, and allows a more detailed look at the financial workings of the club to allow a party to decide whether to proceed with a formal offer.

It is understood that the new Jackson and Green bid is an improvement on their first offer, which was £8m up front, £2m deferred and £5m on promotions.

Fry is thought to be keen to try and move things along as quickly as possible this week, which is why he has dropped the stipulation of purchase.

The situation has already dragged far longer than was foreseen when Fry was first called in as administrator for Saints’ parent company.

The Daily Echo understands a mystery overseas consortium are still in talks, along with the Matt Le Tissier-led Pinnacle group.

Fry is reported to be more confident of a preferred bidder being chosen this week than he was last.