Administrators acting on behalf of Southampton Football Club (SFC) have confirmed that it is in talks with a consortium led by former SFC player, Matt Le Tissier, in an effort to secure the club's future.

The Pinnacle Consortium has secured a 21-day exclusivity agreement with joint administrators Mark Fry and David Hudson of Begbies Traynor in order to reach a deal to complete the acquisition of the assets of the holding company which controls the football club. Concerns had been raised over the future of SFC after Southampton Leisure Holdings entered administration in April, with administrators admitting that the club had been unable to pay employees for the month of May before the consortium stepped in.

The Football League has also announced that SFC, which was relegated from the Coca-Coca Championship at the end of the 2008-09 season, will face a 10-point deduction at the start of next season for breaching the competition's Sporting Sanctions regulations.