72 hours to do the deal !
The fans bid to take control of the majority shareholding of St.Mirren has been given a 72 hour extension as it prepares to make a best and final offer on Thursday June 21st. Over 900 buddies have now signed up to the individual membership scheme, generating a fantastic £10.5k in monthly income, however the team have been unable to reach ambitious targets set in the other two membership categories which are mainly aimed at local businesses and community groups.
The Selling Consortium have thus given the team a further 3 days to finalise numbers, and with support for the bid now showing real momentum there is genuine hope that the deal can be done.
The statement from the bid team reads as follows;
We have had an incredible weekend that has seen St.Mirren supporters from all over the world signing up to join our fans bid to buy the majority shareholding of St.Mirren Football club.
The commitment of the fans has been there for all to see, and we thank each and every single person and organisation who has signed up to date for their overwhelming support.
There is however more hard work to be done, we are not there yet.
Whilst the individual pledges have exceeded expectations the other two membership categories are still short of the targets we set, and with this shortfall we cannot currently fulfil the “agreement in principle” deal to purchase the shareholding for £1.5m.
Over the weekend a number of enquiries were made regarding the 87 Club etc and these are being followed up right now but we do need more.
We are thankful to the selling consortium who have agreed to extend our offer period to this Thursday (June 21st) to allow us to follow up these enquiries and also to look for yet more support.
We greatly appreciate their patience and understanding.
A lot can still happen over the coming few days. This time last week we had 50% of what was needed in individual member subscriptions and today we are now very proud to have financial support nearing 140% of that original target !
We are currently custodians of your money but also of your overwhelming desire to have St Mirren FC Community Owned and Fan Governed and we will do our very best to put the best possible deal on the table on Thursday.
We WILL bid on Thursday and we will only bid what we can comfortably afford to pay back.
The Scottish Football landscape the Club operates in is changing rapidly at the moment and we are keeping a close eye on events as they unfold. Decisions taken elsewhere can have an obvious impact on the turnover of St.Mirren Football Club but that in itself does not prevent us from putting forward a formal bid albeit this will almost certainly have to be made with certain conditions attached.
So the message today is to keep the faith in the bid, and keep spreading the word, especially to local businesses or individuals that you think would be in a position to support us via an 87Club membership.
Similarly we want to keep pushing on with our individual pledges, every new block of 25 sign ups contributes the same financial benefit to the bid as an 87Club membership so the message is realy more of the same, we need as many Saints fans on board as possible
Thank you for your continued support.
The Selling Consortium have thus given the team a further 3 days to finalise numbers, and with support for the bid now showing real momentum there is genuine hope that the deal can be done.
The statement from the bid team reads as follows;
We have had an incredible weekend that has seen St.Mirren supporters from all over the world signing up to join our fans bid to buy the majority shareholding of St.Mirren Football club.
The commitment of the fans has been there for all to see, and we thank each and every single person and organisation who has signed up to date for their overwhelming support.
There is however more hard work to be done, we are not there yet.
Whilst the individual pledges have exceeded expectations the other two membership categories are still short of the targets we set, and with this shortfall we cannot currently fulfil the “agreement in principle” deal to purchase the shareholding for £1.5m.
Over the weekend a number of enquiries were made regarding the 87 Club etc and these are being followed up right now but we do need more.
We are thankful to the selling consortium who have agreed to extend our offer period to this Thursday (June 21st) to allow us to follow up these enquiries and also to look for yet more support.
We greatly appreciate their patience and understanding.
A lot can still happen over the coming few days. This time last week we had 50% of what was needed in individual member subscriptions and today we are now very proud to have financial support nearing 140% of that original target !
We are currently custodians of your money but also of your overwhelming desire to have St Mirren FC Community Owned and Fan Governed and we will do our very best to put the best possible deal on the table on Thursday.
We WILL bid on Thursday and we will only bid what we can comfortably afford to pay back.
The Scottish Football landscape the Club operates in is changing rapidly at the moment and we are keeping a close eye on events as they unfold. Decisions taken elsewhere can have an obvious impact on the turnover of St.Mirren Football Club but that in itself does not prevent us from putting forward a formal bid albeit this will almost certainly have to be made with certain conditions attached.
So the message today is to keep the faith in the bid, and keep spreading the word, especially to local businesses or individuals that you think would be in a position to support us via an 87Club membership.
Similarly we want to keep pushing on with our individual pledges, every new block of 25 sign ups contributes the same financial benefit to the bid as an 87Club membership so the message is realy more of the same, we need as many Saints fans on board as possible
Thank you for your continued support.
Comments
STILL "unable to reach". I've tried my absolute best to give this my support, but c'mon, it's just not happening is it? EVEN if this crawls over the line and the bid is accepted I can see a sh!tstorm in 12 months when once again business and community groups display the same apathy.
The £3,000 and the £25,000 are the important invetors and they are not there. It really is a strange offer when the final figure is still not in place.
I still want to know what will happen when, after a year or so (or maybe sooner), the £10 a month standing orders are cancelled. I also want to know how much RA and his pals are investing.
And of the £10,500 promised by the supporters each month, I would still like to know how much will be used to reduce the loans being taken out,how much will be used for the monthly running expenses of the club and HOW MUCH WILL BE USED TO STRENGTHEN THE PLAYERS POOL.
I am still nor convinced
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