In April 2009, Southampton's parent company was placed in administration. A ten-point penalty was imposed, but as the team was already being relegated due to finishing second from bottom of the Football League Championship this points deduction had to apply to the 2009–10 season. By the end of May, the club was unable to meet its staff wages and asked employees to work unpaid as a gesture of goodwill. The administrator warned that the club faced imminent bankruptcy unless a buyer was found. In June, administrator Mark Fry confirmed negotiations with two groups of investors, followed by confirmation that the club had been sold to an overseas buyer "owned and controlled by Markus Liebherr". Liebherr brought in Italian businessman Nicola Cortese to look after the club's business interests on his behalf. In July 2009, with the club in the control of the new owner, Wotte was sacked as head coach and Alan Pardew was appointed as the new First Team Manager. The Saints made their first big signing under Liebherr, striker Rickie Lambert, who was purchased on 10 August from League One side Bristol Rovers.