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rea

Saints
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Everything posted by rea

  1. Very sad to hear of his passing, was one of the first guys I met during the whole 10000hours stuff and came across a copy of the video only yesterday which he gave me to gen up on all things Saints.
  2. perhaps it would be better had i said that Cash Flow is king as opposed to P and L. I hope it will be only 2 to 3 weeks...but i suspect more like 2 to 3 months
  3. and i am postulating that such a clause does not exist
  4. nope, if businesses cannot play their bills they go bust, or shareholders inject working capital; etc etc.
  5. They might have now, but i dont recall buying it when I was doing it previously and i dont think BI cover would cover for this sort of interuption
  6. you would still get paid if your work stopped selling its "product" the players will also. One issue would be if they extend the season, players will be out of contract, so not only will Club face the losses from the shutdown but it will cost them more to put the squads back on the pitch after the point in the season when they would assume less waged as less players on the books
  7. Not in my time, and even if it did i dont think it would pay out in this circumstance
  8. Cash will be king if the league is suspended. Banks wont lend to the majority of clubs and most of the clubs costs will continue while the revenue takes a nose dive. Historically Board members of the Club would contribute 6 figure sum to tide over the club when cash was tight. So if the club need cash now, then who on the board is going to sort and we now now have two Kibble members so will Kibble be contributing. This is potentially a disaster for a vast number of Scottish Football Clubs, let alone all the other Sports and Business that live hand to mouth
  9. I will try and put some more detailed thoughts together should anyone be interested, but please note that "normal rules" would mean that a shareholder e.g Kibble cannot be offered preferential treatment e.g discounts, from a company they own shares in without imprinting what is called "the rights of the minority" basically the rest of the shareholders. Now as in all matters it is more complicated that just the few sentences above, but I personally did spend a lot of time making sure that during 10000hours days the governance structure made sure this was not an issue....For example any preference was available to one member was available to all and no external party other than the CIC and Fans owned shares, e.g none of the Corporate members owned shares (or indeed needed to own shares) as a result of membership. I also did present to the full board and trustees/advisors of Kibble about 30 people iirc, and took extensive questions, would be interesting to know the process of engagement this time......
  10. .....and now I have a nice long flight to read 21 pages..... ......wonder how much i will recognise.... I admit I have had a bit of a chuckle at this...
  11. rea

    The 3 Monthly Spend

    The Purchase price is set. But you are spending £50K more on the product by putting money in that you could otherwise spent on something else, or saved for a rainy day, and that the Club out of its own resources could fund. It is like buying a house for £1m that needs £50k spent on fixing a roof that is already leaking. Giving the current owner £50K to fix it before you own it thus allowing the current owner to go and buy a Jag instead The wondering in 20 years time when the roof needs fixed again where you can get £50K to fix it
  12. rea

    The 3 Monthly Spend

    Because when I buy a company I don't first build them a new office and then buy it. I buy it and then build the new office
  13. rea

    The 3 Monthly Spend

    *takes deep breath... Thing is on a CBS you can vote to disapply a more complex asset lock, to all except giving the money to the members..... ...in a CIC...however you cannot.... ...I am sure I have one of those CICing (sic) around somewhere....oh wait a minute. ..steps back
  14. rea

    The 3 Monthly Spend

    You missed the how long till I buy you that craft Canada beer you were always going on about!
  15. rea

    The 3 Monthly Spend

    Ok....you just cannot seem to accept that you have no idea what you are talking about. My understanding is what the facts of the lease are. It is a commercial lease from the council at rates appropriate for the facility, councils cannot do "favourable terms" they have to do appropriate terms to pass audit and COI tests The training facility is not a separate company so linking ownership and debt of Ralston is irrelevant. This is the lease bit from the accounts.
  16. rea

    The 3 Monthly Spend

    Para 2 and 3 you want me to post you a copy of the lease? We categorically do not own ralston Para 5. they would sit being able to be spent in 10 years time when ground needs done and SMISA need £150K to do it not £50k contribution
  17. rea

    The 3 Monthly Spend

    Para 1. yes... I cannot think of another club SMFC size with these facilities Para 2 SMFC don't own the facilty Para 3 we don't have that luxury either Para 5 your understanding of what a "saving" is when the future owners are spending £50 is odd
  18. rea

    The 3 Monthly Spend

    Yeah i know what risk acceptance is...it is very little to do with risk to the Funds, but the appropriateness of using money in a different way than what the money was raised for, and as to the rules as to if and how the members can change the uses.
  19. rea

    The 3 Monthly Spend

    Members profit because the value of their shares bump due to the benefit to the balance sheet of the company. Just as you have a Discretionary fund you also have a Restricted Fund, you should not lend from a Restricted Fund one and fund the lending from the other
  20. rea

    The 3 Monthly Spend

    Really...do you know what a balance sheet is? So you agree that SMISA is loaning the money directly to the Club?
  21. rea

    The 3 Monthly Spend

    Eh, the money will be going to the Club.... The Club will buy the asset. do you agree?
  22. rea

    The 3 Monthly Spend

    Finally you admit that the private company benefits...... Thing is the shareholders of that private company are also members of SMISA... I refer you to clause 3 of the constitution which defines the Community Benefit Purpose... 3. COMMUNITY BENEFIT PURPOSE The Society’s purpose is to be the vehicle through which a healthy, balanced and constructive relationship between the Club and its supporters and the communities it serves is encouraged and developed. The business of the Society is to be conducted for the benefit of the community served by the Club and not for the profit of its members. you see where the problem is now? Now i admit the profit is minor but these clauses are there to stop more blatant use and development of conflicts of interest
  23. rea

    The 3 Monthly Spend

    So as you have said above. SMISA money is being used for the benefit of a private organisation. SMISA spend money of a Club Asset, Clubs balance sheet sees the benefit, Club gets to spend more money on paying players, no one extra gets to use the 3G pitch. I hope you are not providing risk analysis for any org i have a relationship with!
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