ktf
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Posts posted by ktf
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I suspect SPS's dug will be well walked tomorrow as he tries to get the decision first.
I'll keep an eye out!
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A lot of knickerwtting going on in this thread now. Surely well worth a bit of idle debate. I happen to know that certain members of the consortium do not want to be frozen out of SMFC. Not all of them want to take ALL of the money and run. Say REA mans up and uses his own cash to get into the club - he buys Purves shares for example. Chris Stewart who is waltzing into the club - has he got any of his own cash he could invest in shares. I actually like the sound of a Board comprising SG, McAusland, GLS, REA, Chris Stewart.....for the fans investment we get the bold Tony F on board plus some SRTBs....and SMiSA gets to weigh in with their £50K and a place on the Board to boot - if they even want it. Surely worthy of a discussion - imagine if all the parties all got together in a room with fans to discuss the possibilities....once all the vested interests are out of the way of course.
Some semblance of sense from you, at last!
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You seem to be flapping like f"k on this thread ktf. Chillax Bud, the deal is nearly done. We're just chewing the cud over what options there me be should 10000 Hours fall on their arse at the last hurdle - YET AGAIN!!!!
I'm not flapping... SID
Simply keen to explore Bazil's idea, at the moment it seems Faulty !
As Churchill once said, "the best argument against democracy is a conversation with the average voter."
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bazil throws out an alternative idea and it is shat upon in seconds with the usual suspects not giving it an ounce of consideration. This time tomorrow there may be no CIC and it will be back to the drawing BoD. I see no harm in considering alternative offers that could be made to the current BoD. Get GLS back in with whoever wants to stay in from the large shareholders. Young Mr Atkinson and his group all make a proper investment in the club. SMiSA weigh in with their £50K and get representation on the BoD. Before you know it we have a St Mirren dream team with cash going into the club rather than out of it.
10000 Hours got over two years to fiddle with their proposals and they are now completely different to what they started out with. If this all goes pete tong tomorrow the fans need a plan b rather than just accepting the new foreign owners.
More mischief-making from you sonny Jim! Who has shat on his idea? Also, I agree an alternative is desirable but at this 11th hour, there is no chance of one. It's 10000 Hours or Johnny Foreigner - I have chosen my side of the fence and you yours. It's now a waiting game
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i think we're possibly reading to much into this idea that will never come to anymore than a simple idea. The current board in charge of our club I am very happy with I don't imagine as it stands they're making no money at all out of St Mirren. My idea which I thought was a relatively simple one would be to keep the board as it stands (not needing to buy their shares or pay the 1.5 million to them) see if they would be willing to use all the money that we would be raising to buy the club instead to invest and move St Mirren forward.... The benefit to the board would be increased revenew to build the team and make it as profitable as possible going forward. the 1 D/D 1 vote could be something still introduced.
All of this is a grand idea bud, and if it was at all remotely likely, I'd back it to the hilt. Sadly, the current BoD - well the consortium members of - have had it and want out. That has been the case for years, I can't see anything changing that.
On the topic of renumeration, I think they may get expenses covered. That is all that the club pays them.
Your last sentence still confuses me, if the old BoD are in, eha role would they have in a OMOV system? Or alternatively, what will members get to vote on if the BoD are running the club?
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I don't know where this nothing is coming from? I'm not asking them to stay on for nothing? A lot can be done with an extra 10k income plus individuals and companys willing to put forward 3k and 25k for different levels of benefits. I'm still all for the fan voting and sharing the power but behind a vehicle that I trust.... The current board.
Although completely out of the question, I thought the first post was a cute idea. However this last post has completely got me baffled!!! Please, explain what it is that you want... The old BoD to stay on getting paid with the DD contributions to do nothing cos the fans will run the club?
What will the old BoD do if the fans run the club? What say will the fans have if the old BoD run the club? How can the old BoD get paid from the membership fees AND have the same fees use to boost the player budget?
As you can see, I'm struggling to come to grips with this - help!
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I drove past there the other day - completely didn't even notice it. But it is exactly as budiecat says!
It's a beautiful building! I'd be surprised if it isn't the same architect as St Matthew's.
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I say this without malice. It's getting to the stage that the consortium will have to accept the offer from the CIC in some shape or form. The alternative is that there will be close to a 1,000 supporters feeling as if they've done their bit and been let down by the consortium. The CIC have the upperhand now for that reason IMO.
I think this is very true, however I doubt it would because of fan pressure as such. These are experienced and successful business people, SG is hard-nosed and knows his own mind.
I think though that the consortium may sell to 10000 Hours not because they have to but because they want to. They love this club, folks like SG have bled for the club and are hardcore fans. I think they want nothing more than to see the club safely into the hands of the fans - even if it means they need to take a hit on their return to make it happen. The consortium could come out of this whole thing as heros - the men (and woman) who made fan ownership a reality at St Mirren!
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There would likely be a conflict of interest if REA and GLS were to part fund the deal, at the very least there would be people saying they were both making money out of the CiC by funding any shortfall.
There is an issue with a clause known as "the rights of the minority"... Which is basically that, a conflict of interest issue. However, to push the deal over the line I wouldn't be surprised if there was a way of navigating such issues.
The real solution though is for individuals, community groups and companies to sign up and encourage others to do so. That way the success is guaranteed! We have done so well and come so far, it would be horrendous to see it fall down now.
Yes there are questions, no it's not perfect, yes a lot will need to be ironed out, no the hard work isn't over when the deal goes through - the hard work will begin then - but if we get enough sign ups then fan ownership and governance can be a reality for St Mirren, securing the future of our club when others are going to the wall.
This is an exciting time for our club and for us as fans! Let's not miss out on being part of making it a reality!
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Just signed up .....and all should do the same....no time for debate
Haha!!!
What a lad, well done Reborn!
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Is it plausible for 10 fans to pay £300 each to get a 3K slot and then share the 20 shares? I know it means sharing the accompanying gubbins, but most would be in the bar anyway and any remote person who joins the 10 might just want the feeling of having 2 shares.
This has certainly been mentioned already - in the dim and distant past... I think the answer was, "yes!"
I certainly don't see any reason why not...
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Well done everyone involved for getting the individual membership over the line!
Not long to go now and we'll know the outcome, so let's keep pushing. I've been texting, calling, emailing, tweeting every bud and every community-minded Paisley (and beyond) person that I know.
I just want to make sure - it'd be no good falling on its arse now.
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Pretty exciting stuff today!!! Well done everyone on the final push for getting yourself and friends and family and club and community minded buds to sign up! A historic day for St Mirren FC!
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After much soul searching and deliberating , and some friendly bullying from associates , I have bit the bullet and signed up !
Didn't see that one coming! Great job Billy, I don't think you'll regret it
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Very, as far as I'm aware. I know the likes of eBay and Amazon use it regularly for processing customer payments.
Yip, it's probably THE most secure way to pay for anything online. PayPal takes a cut from recipient/seller (10000 Hours) but it's a neglegable amount.
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Pure speculation; however I think they have been in the bag for a while. Certainly the £25K memberships as they will likely be taken up by the original corporate members. The remaining question will be the 87 club membership, but I reckon that will have been GLS's main focus for some time. Hopefully they were already lined up.
My suspicions also!
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Anyone got any idea how short the numbers are on the 87club membership and £25k membership
Or if they even are short, even or over-subscribed (no such thing but you know what I mean.) At the moment we don't have any ideas on numbers and so they could be flying in too - it seems GLS is working hard on this. And with the likes of yourself signing up for 87 Club and posting here that you have and why you are supporting it, that will encourage other to do the same, if they are swithering.
Who knows, those memberships could be flying in too.
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Another thing I don't fully understand is IF the CIC is successful how will it effect this season and future seasons playing budget where is the options for future income or will it be just what we make we spend etc
The hope/idea is that with the number of members involved there will be more opportunities to open revenue streams, rather than less. There will be people in the 77 & 87 Clubs with good business experience and skills, and people within the membership with ideas and energy and time to put in. By bringing in community groups and 10000 Hours being a CiC, options for funding community stuff are more varied and could indirectly divert money into the playing budget.
The fact that it will be reasonably high profile and seen as a worthy cause by other businesses etc around the country, should attract them to want to be a part of it for philanthropic or Publicity reasons.
The hope/idea is that the revenue streams will be increased not decreased by being community owned and fan led.
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Friday 15th June - not looking to be pedantic, just guarding against any confusion.
Pedant
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Probably no surprise to anyone, I'm in. So are as many community groups that I am connected with, as I can muster!
Given my experience in that side of things and the fact that I make my own diary and hours every week, I will put my name in the hat for an interim place. I believe that the one of the main selling points initially was the community side of the bid, whilst that has fallen by the wayside somewhat, it shouldn't be too hard to recharge it again with a desire to do so and the right people on board - perhaps, if folks agree, I can help to play a part in that.
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To be honest I'm sitting on the fence on this one, the whole timing of this spooks me on both sides of the debate. Is it a gun getting held with the threat of somebody coming in and selling us from under our feet or do we go with the fan based idea then getting trumped at that end.
I was all for the CIC thing but that much has changed I don’t know whether I’m coming or going who do I believe ,the waters have been mudded and I don’t know !!
So much at stake for the club that me and my family have followed through generations.
Hope it turns out the right choice so future generations of my family can have all the fun of ups and downs as the rest off us have had over the years !!
It is true that what is on the table now from 10000 Hours wasn't what was initially hoped for. But the truth still remains that it is the only known about bid, it is an attempt and a good start at fan governance and ownership and is the only bid that has St Mirren people at the heart.
For the future of the club, only the CiC can be trusted to deliver security - IMO.
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Agreed. Certain invidiuals are using this as a sport, playing games on the forum.
Spot on Div, we have the future of the club at stake and it appears to be fun to some people...
There is only one deal that we can be sure offers the fans a level of involvement and a chance to shape the future or the club. Only one deal has a level of security that you only get from increased numbers of people who are passionate. At a time when one of our biggest clubs are just about to go under due to uncertainty and lack of transparency with takeovers, only one offer for St Mirren ensures that the fans will be part of the decision making at the club.
Only one bid has made itself public, only one bid has current and/or former directors involved, only or bid has a former Saints player manager and forever legen supporting it, only or bid has local people at the heart and only one bid has inspired the selling consortium, lead by Stuart Gilmour, to work with it closely an do all it can to assist it to succeed.
No, it isn't perfect but when we know nothing about any of the others, it is the best that we have.
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That's the catch22 situation you'll find yourselves in. If you don't keep up subscriptions you lose the club. Bii and the rest of the creditors own us. If the subs fall and the CIC fails guess who takes control of the 52% of the shares.
How does this differ from any other buyer? Other than positively... i.e my experience of social funders is that they will restructure and work with an org to see it succeed and make the payments. Banks will bring in administrators and liquidators without a second thought.
ETA: also, a single buyer and/or consortium could quite easily pull the money or run into difficulty (see countless examples), a fan owned company with the liability spread over 700 (?) people is much safer and only a situation where 100 or more folks pull out would see the funder look to step in to alter things. Why would a large number of buds, who love the club, put it into that sort of situation by pulling out at the same time?
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I rememebr when this thread was for asking questions and 10000 Hours were going to answer them. Was it just for the one day then?
I think it was only advertised as a one day thing - they went for at least one and a half. 10000 Hours, over delivering!!!
Joint Statement By 10000Hours And Selling Consortium
in 10000Hours Archive
Posted
Just got the email.
Interesting indeed! It would seem that the bid was acceptable to the consortium but given all that is going on with Sevco, both parties feel committing just now without knowing what money will be in the SPL next season is unwise. Either that or a committment can't be reached on 10000 Hours side due to BII conditions of loan. If have thought if that was the case, their bid would be discarded and another accepted.
All-in-all a positive statement and it sounds like the CiC should be good to go when all the Sevco/Club 12 stuff is ironed out.
Very good news about fan consultation re NewCo. It did stop short of saying the BoD would take direction from the fans but they would be very foolish to seek their opinion and then go against it - especially if SG and the likes want thier legacy to be a good one.