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Le Tissier group may drop Southampton takeover

Matt Le Tissier's Pinnacle Group are close to withdrawing their takeover bid for Southampton.

The Daily Mail says Pinnacle Group were last night considering withdrawing their £15m takeover bid for Southampton after being refused permission to appeal against the League One club's ten point penalty start to next season.

The decision taken at a special League Board meeting yesterday afternoon leaves administrator Mark Fry with just six weeks to find a buyer who will accept the penalty or Southampton will not be able to fulfill their opening fixture at home to Millwall on August 8.

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