davidg

Question CIC answer Accounts of any organisation take a snap shot at a set point in the year. At any point in time the club is owned money by some and owns money to others, and it is this along with some other accounting rules when applied to a set of statutory accounts that can give the impression that any debt is bank debt. It is not. Without getting into too much detail perhaps it would be better to clarify the document description as meaning there is no "traditional bank debt" The club has no borrowings from any bank. It is this fact we are referring to. In that unlike is some other football businesses where every time the club earns some additional money there may be a bank asking for their slice this is not the case at St Mirren. When you exclude depreciation. The club is now on a level footing meaning that any extra money the club can earn through being controlled by the CIC can be used by the club for whatever its board (voted on by the majority sharholsing controlled by the CIC) deemappropriate, one would suggest that increased player budgets would be something appropriate. 10000hours CIC

Question 10000 Hours Answer No wages will be paid to Atkinson from either the members board or the club board, and none have been paid historically The current board take no wages from the club

Question Answer This could happen. Anyone that choses to become a member in any of the categories can stand for election, but they have to be elected in the process there is no "hey presto" about it, no automatic right of sitting on either the 10000hours board or the club board. 10000housr CIC

Question Incorrect. Is 10000hours controls the 52% then as noted in the document (within the rules noted) a simple majorty of the 48% can elect 1 director. This will be to the board of St Mirren FC. Only CIC members (individual, corporate and community) will be able to be elected to the CIC elected members board 10000hours CIC

Yip, just trying to tidy up a bit as we have questions answers and debates running in the 2 threads. We should have 1 thread for discussion and 1 for Q&A. You are far more likely to get an answer if you post it in there were he doesn't need to search through 100's of posts looking for questions New thread running, I'm going to run through and cut and paste questions and answers into Clicky

Following this suggestion I have merged the 2 threads running on the Club buy out and the CIC 10000 Hours. Please keep the all club buy out and 10000 hours discussion to The original thread here. Feel free to ask direct questions only on this thread, if you want to discuss the Q&A's copy and paste them to the original thread. It may seem like a pain but it keeps things tidy and allows people to quickly read through questions and find answers without having 60 odd pages to go through. Thanks to 10000 hours coming on and answering some questions, there's no guarantee that he will be able to answer the question you might have but you are far more likely to get an answer if you post it in here were he doesn't need to search through 100's of posts looking for questions....... Edit- I have been cutting and pasting the questions into here along with the answers from 10000 hours.

Totally agree. Far too many pages to edit though so I've merged threads and will be creating a new thread for direct questions which can be asked but there is no guarantee they can be answered.

What is the date on the accounts? I would hardly say that is 800k in debt, most of it is made up from what is owed out for general expenses at the end of the financial year? Reason I ask the date of the accounts is we probably haven't received our prize money from the SPL for the footballing season that the expenses ore owed out from.

Is it listed as outsatnding loans or monies owed to creditors?

Ken McGeoch

They have 1 at the moment, in what way will having 1 board member after the takeover give them a little more say than they currently have?

Thanks for the reply

Genuine questions. How much of a financial problem is it to the CIC if we drop below 300 members after a couple of years or so. How much of a financial problem is it to the CIC if we fail to replace corporate members who pull out leaving us below the required 12? Cheers.

Where is travner heading HSS?

I really don't know but there is no way we could afford his wage, he's joe the toff.

You have good ears.

Don't know if you've seen the evolution one but just had an image of you and Ross from Friends boxing about this

You can attend if you like or you can choose not to, it makes no difference to you so what's the big deal?

I still do.

That was most Saints fans opinion of Higdon at the start of this season.

Brother Bob for starters

I really hope we get the interest and the CIC goes through, I just have my doubts that they will get the required 300 members and the financial support from local businessmen. EDIT- Regardless of how good the CIC proposals are and benifits for the club/member, times are tough. I really hope they do get it though.

Would this be a concern in terms of finance Poz?