In the mid-1990s,the Saints board were looking to float the club on the London Stock Exchange,a long and costly procedure. Therefore,they attempted a reverse takeover as a way to reduce costs. They needed to find a company that had already floated and take it over while effectively being taken over themselves. Lowe's Secure Retirements,which ran nursing homes,was identified as a candidate. The resultant group was renamed Southampton Leisure Holdings PLC. [5]
After the deal was completed,Lowe became chairman of the football club,despite being an avid rugby union watcher and hockey player,who had only seen his first professional football game six months previously.
Southampton fans were initially undecided about Lowe. He had significant business expertise,a vital trait for a football chairman,but was unfamiliar with the sport. In contrast,clubs such as Blackburn Rovers and Wolverhampton Wanderers had recently been taken over by lifelong fans who had made their wealth in various industries before switching their investments to football.
In the summer of 1997,manager Graeme Souness left after just one season in charge,as did director of football and former manager Lawrie McMenemy. Both men cited 'difficulties' with the new owners. This came as a shock to many fans and to the local press,who regarded McMenemy as 'Mr. Southampton';he had previous managed the club from 1973 to 1985,guiding it to FA Cup success in 1976 and finishing second in the league in 1984.
Lowe,however,did much to move the club forward. He guided the club from their old stadium into the 32,000-seater St Mary's Stadium,which opened in 2001,and the club continued to follow a long-standing policy of selling players to clubs for high prices. Dean Richards,who was sold to Tottenham Hotspur for £8 million,and Kevin Davies,who was sold to Blackburn Rovers for £7 million,are good examples. Davies was subsequently bought back by Southampton for a much smaller fee. James Beattie joined the club for £1 million from Blackburn Rovers,enjoyed great form at Southampton,and later joined Everton for £6 million.
During his ownership of the club,the Saints maintained their Premier League status into the 21st century,despite having been in regular relegation battles since the early 1990s and rarely finishing in the top half of the table.
However,his managerial appointments were considered questionable,as there were eight managers during his tenure. Dave Jones was forced out in January 2000 when faced with a criminal investigation,although he was later exonerated of all charges. Jones was succeeded by Glenn Hoddle,who left just over a year later to join Tottenham Hotspur,amid criticism from Southampton fans that he had turned his back on the club. Lowe then appointed a talented coach,Stuart Gray,but Gray was swiftly replaced by Gordon Strachan after a disastrous start to the 2001–02 season. Strachan guided the Saints to a secure 11th-place finish.
In 2003,Saints reached the FA Cup Final and qualified for the UEFA Cup for the first time in nearly 20 years,also finishing eighth in the league –their highest finish for well over a decade. In the following season they were lying fourth in the league at Christmas,but it soon emerged that Gordon Strachan was refusing to extend his contract citing "personal reasons". Strachan resigned in March 2004,and Lowe and the board took the decision to replace him with Paul Sturrock before the end of the season. Sturrock himself left the club by "mutual consent" within six months,despite achieving good results during his time in charge. It is understood that Lowe attempted to interfere in team selection after consulting the former head coach of the England national rugby union team Sir Clive Woodward,who was being approached about a possible role at the club at the time. [6]
Lowe appointed Harry Redknapp manager of Southampton in December 2004. Redknapp had quit as manager of Southampton's south-coast rivals Portsmouth two weeks earlier. [7] Southampton were relegated in 2005 and Lowe appointed Clive Woodward as the Director of Football of Southampton in July 2005. Redknapp resigned as manager in December 2005 and subsequently rejoined Portsmouth. [8]
Lowe won a libel case against The Times in 2005 regarding a column by the sportswriter Martin Samuel that alleged that Lowe had treated Jones "shabbily" following the latter's suspension after he was accused of child abuse charges on which he was subsequently acquitted. Lowe was awarded £250,000,which he pledged to donate to charity. [9]
On 30 June 2006,Lowe resigned under huge pressure from club supporters,including the newly formed Saints Trust,following the club's failure to win promotion back to the Premiership. [10] Michael Wilde,a new investor in Southampton Leisure Holdings PLC,led a new team of directors in taking over the club. The Saints were beaten in the 2006–07 Championship playoffs,and failed to mount a promotion challenge the following season.
In July 2008,Lowe returned as Southampton Leisure Holdings plc chairman. At an AGM on 23 December 2008,he received several calls to resign from former chairman Leon Crouch and from fans and shareholders at the meeting. Also,thirty silver coins were thrown in his direction by fan Richard Chorley,who was thrown out of the meeting. After Lowe's return,protests took place against his role at the club. [11]
On 2 April 2009,Southampton Leisure Holdings PLC was put into administration,resulting in Lowe's resignation from the board. The club was relegated to League One shortly afterwards,but under its new owners reached the Premier League just three years afterwards. [11]
