RUPERT Lowe last night insisted Michael Wilde's manifesto failed to answer his two key questions.

In a statement posted on the club's website, Lowe said Wilde's document does NOT properly explain how his new regime will be funded and it also fails to explain why his proposed board will run Saints better than Lowe's board has done.

Lowe wrote: "Mr Wilde's document devotes more space to setting out his proposals for corporate governance than it does on how he will improve the club's performance on the field.

"The document does not answer who will be chairman of the club and therefore to whom George Burley is ultimately answerable. It does not answer my original question of whether all proposed directors of both plc and club are named or not.

"Much of Mr Wilde's corporate governance proposals are already in place through our obligations as an AIM listed public company quoted on The Stock Exchange."

The chairman added: "Mr Wilde's document makes much of his wish to see the club become "family-orientated" and a "valued social institution. He does not say how he will build on an organisation which already provides 100,000 child places on community courses every year, has an active relationship with 300 schools and has introduced ticket offers to children and young people that have attracted extra gates of up to 2,700 for selected matches."

Lowe was also critical of Wilde's football first' philosophy which underpins his manifesto.

"Can you imagine George Burley joining a club where football did not come first?" he asked.

"Not only that, but also having the commitment to bring Malcolm Webster, Simon Hunt and Glynn Snodin with him.

"At the same time Mr Wilde describes the use of St Mary's for "activities other than football" as a "temptation". There is not a club in the Football League that does not value the contribution that conferences, banqueting and concerts make to defray expenditure and increase profitability.

"Mr Wilde believes that he should "expand" our domestic scouting and "develop" an international presence at both a senior and Academy level. I am not sure that he fully understands what Simon Hunt, Terry Cooper and Malcolm Elias do, but I am proud of a scouting team that at a senior level has found players of the calibre of Michael Svensson and Peter Crouch, and at a junior level has found Theo Walcott and Gareth Bale."

Lowe continued: "The biggest shortcoming in all 39 pages is the omission of ANY FIRM FINANCING COMMITMENT for new funds.

"There are references to potential new investors who are unwilling to invest whilst the current Board is in place.

"There are excuses offered such as a lack of access to George Burley or detailed financial information or even the variety of financial scenarios in which the club might find itself.

"It is my belief that for an attempt to wrest majority board control to be taken seriously, Mr Wilde should be capable of showing firm commitments to a minimum respectable quantified level, even if those commitments are contingent on him winning the EGM, from wealthy individuals who are prepared to stand up and be counted.

"Your board cannot understand why such commitments cannot be made.

"Mr Wilde's proposals therefore FAIL the first test that I would apply to determine if his approach is in the best interests of the company."

Lowe went on to list some of his regime's key successes over the last nine years, including

  • Unlike Wembley, has delivered St Mary's Stadium on time and on budget and fully funded on a prudent long term basis'.
  • Has spent £1.85 million in 2005-06 with a further £250,000 committed on producing a world class training facility at Marchwood staffed by Sir Clive Woodward and a first class sports science team.
  • Despite relegation, has maintained Southampton Football Club in good financial shape'.

An open letter to all shareholders signed by George Burley, Sir Clive Woodward and Claus Lundekvam supporting Lowe was also printed on the club website last night.