Hagleybuddies

The board deserve credit if they have dodged the dodgy geezers. After all this time everyone must accept that there is no proper well funded buyer and if the fans are going to run the club then Stewart Gilmorte et all are probably the best we are going to get. Let's get them to stay long term, strengthen the board when we can and give them some recognition and modest return as we can afford it. The shares into trust and a covenant which prevents debt of any kind in the club, company, or against the assets.

It doesn't matter who voted agin, the council made the best decision for St Mirren, end of!

Hamlet, We were bust, we could not pay our debts as they fell due and our liabilities were greater than our assets. By the grace of the bank we did not enter a formal insolvency procedure but to all intents and purposes we were bust. The point being the shareholder value was nil before the planning permission. They should start from that point when negotiating a sale!

Hamlet, let's agree St Mirren own the extremely long lease which has a value similar to owning it outright. God bless the councillors, they truly saved our club. Likewise, I doubt anyone will buy us or if they do it will be for other interests. That brings us back to the current shareholders creating a trust to ensure the principal assets are beyond the reach of chancers, accepting less and moving on heads held high. I have nothing but admiration for the existing board but as magnus says they are tired. I do believe they have St Mirren at heart so would be happy if they stay, if not, please don't slip up now, accept your value has gone and give the club a really sound base for the future. SMTID

Hamlet, let's agree St Mirren own the extremely long lease which has a value similar to owning it outright. God bless the councillors, they truly saved our club. Likewise, I doubt anyone will buy us or if they do it will be for other interests. That brings us back to the current shareholders creating a trust to ensure the principal assets are beyond the reach of chancers, accepting less and moving on heads held high. I have nothing but admiration for the existing board but as magnus says they are tired. I do believe they have St Mirren at heart so would be happy if they stay, if not, please don't slip up now, accept your value has gone and give the club a really sound base for the future. SMTID

Melanie, there is no doubt that an agreement to put the ground and training ground in trust would work. That would be very simple to do. I agree that the current owners can do as they wish with the property, they can sell it to some chancers who will take us bust or they can put it in trust for the good folk of Paisley and for St Mirren. They are in the pound seats and all we can do is remind them they had lost all their value before the council bailed the club and them out by granting planning. Take less, put the assets in trust and walk away with your heads held high. Please don't let 'fit and proper' people be your justification for letting the money men in.

Remember we were bust before the good councillors of Paisley granted planning permission at Love Street for a supermarket that never got built, that paid off the bank, that built our new ground, and our training facility, and put a few bob in the bank. The existing shareholders were wiped out before that, so the assets belong to Paisley as the town supported the club in its hour of need. Sorry folkes but its not your club to sell even if you have share certificates!

It is possible to put all sort of restrictions and covenants in the Sale & Purchase Agreement. It is also impossible for a club like ours to afford any debt of any sort, now or in the futrure. So let the sellers and buyers legally commit to NEVER charging the clubs assets (The new Love St and the Training Ground especially) to raise debt and to now put these assets in Trust for the people of Paisley. If the new owners are successful with player development and increased crowds then they can enjoy the benefits of increased cashflow, but must not be able to sell us down the river. We would not survive the shite that Rangers are going through and would die if the wrong people got control so the current shareholders have to do the right thing, even if that means they take a lower price and creating that Trust. SMTID