chico Posted April 13, 2011 Report Share Posted April 13, 2011 £2 million. Why's it have to be £2 million? Quote Link to comment Share on other sites More sharing options...
civilsaint Posted April 13, 2011 Report Share Posted April 13, 2011 £2 million. Why's it have to be £2 million? Because that is what the consortium has decided their shares are worth, and hence the sum they will sell for. Quote Link to comment Share on other sites More sharing options...
yardleysappetite Posted April 13, 2011 Report Share Posted April 13, 2011 £2 million. Why's it have to be £2 million? The document says that purchasing the shares will cost £2million so I'm merely assuming that the full £2million is coming from this specialist funding for CiC's. I of course don't know if the full £2million would be considered loans (soft or otherwise) and thus have to be repaid or if it would be...400k or whatever other amount we wish to speculate on...I'm just suggesting that should a £2million borrowing be secured against the CiC or 10000 hours or whomever it is still money that has to repaid and as I understand it money that will be repaid from the profits from the increased usage of the clubs assets and the CiC members...I also wonder that if I were to become a member of the CiC would I still be partly responsible for paying this debt should the whole plan fall apart? Will I still be held accountable for repayment? Quote Link to comment Share on other sites More sharing options...
pozbaird Posted April 13, 2011 Report Share Posted April 13, 2011 The document says that purchasing the shares will cost £2million so I'm merely assuming that the full £2million is coming from this specialist funding for CiC's. I of course don't know if the full £2million would be considered loans (soft or otherwise) and thus have to be repaid or if it would be...400k or whatever other amount we wish to speculate on...I'm just suggesting that should a £2million borrowing be secured against the CiC or 10000 hours or whomever it is still money that has to repaid and as I understand it money that will be repaid from the profits from the increased usage of the clubs assets and the CiC members...I also wonder that if I were to become a member of the CiC would I still be partly responsible for paying this debt should the whole plan fall apart? Will I still be held accountable for repayment? The 2 million required to buy the controlling 52% is definitely NOT all borrowed money. I have absolutely no idea the exact breakdown of the 2 million - in regard to loans, grants, income from memberships, but it isn't all borrowed. Quote Link to comment Share on other sites More sharing options...
animal Posted April 13, 2011 Report Share Posted April 13, 2011 The 2 million required to buy the controlling 52% is definitely NOT all borrowed money. I have absolutely no idea the exact breakdown of the 2 million - in regard to loans, grants, income from memberships, but it isn't all borrowed. Any idea WHY we are not being told this breakdown ? Quote Link to comment Share on other sites More sharing options...
yardleysappetite Posted April 13, 2011 Report Share Posted April 13, 2011 The 2 million required to buy the controlling 52% is definitely NOT all borrowed money. I have absolutely no idea the exact breakdown of the 2 million - in regard to loans, grants, income from memberships, but it isn't all borrowed. That's fair enough, I'm glad to read that it's less than a £2million borrowing. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted April 13, 2011 Report Share Posted April 13, 2011 I don't think I've seen anyone suggesting that this will be "easy". Apart from Sid! I reckon the % increase is grossly underestimated as can be proven not only by the utilisation at other stadiums such as St Johnstone or Falkirk, but also by the number of enquiries for our own facilities currently being turned away. We still have an entire half of the main stand to be developed to fulfil that purpose. Once it is in place we will be making plenty out of it. Quote Link to comment Share on other sites More sharing options...
pozbaird Posted April 13, 2011 Report Share Posted April 13, 2011 (edited) That's fair enough, I'm glad to read that it's less than a £2million borrowing. I believe the borrowing is only £1,999,990. Shull is donating the other tenner. Edited April 13, 2011 by pozbaird Quote Link to comment Share on other sites More sharing options...
chico Posted April 13, 2011 Report Share Posted April 13, 2011 Because that is what the consortium has decided their shares are worth, and hence the sum they will sell for. The value of anything can also be defined as what someone's willing to pay. Surely if the CIC is the only game in town, the definition of value isn't just a set figure by the board. My point is that the BoD majority shareholders surely have a great interest in the CiC succeeding and must their pric be £2m and are they walking off into the sunset or are they going to be involved in the CiC going forward? Certainly Mr Gilmour has experience of league and SFA committees and with the future shape of the SPL structure unresolved, wouldn't the CiC benefit from someone like that still being involved or being able to phase in somebody else to those discussions. Quote Link to comment Share on other sites More sharing options...
bluto Posted April 13, 2011 Report Share Posted April 13, 2011 It reads well - looks interesting and convincing... Quote Link to comment Share on other sites More sharing options...
FTOF Posted April 13, 2011 Report Share Posted April 13, 2011 Apart from Sid! Sorry. I meant anyone that we actually pay any attention to. Quote Link to comment Share on other sites More sharing options...
Reynard Posted April 13, 2011 Report Share Posted April 13, 2011 Bully for you! Well surely if they are inviting comment directly to them it would a good thing to do it? I'm not really sure why you're getting all bent out of shape about it? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 13, 2011 Report Share Posted April 13, 2011 Do you have any proof that we will be making plenty ? Do you have any expertise in this kind of business ? Please share it with us. Yes, there is proof as I have already said. Geoff Brown will gladly share with you the financial success of the utilization of their stadium all year round. It is hardly a secret either - but then you don't seem to want facts as that would stop your wild negative speculation. I have been involved as a consultant in the review of St Mirren's commercial operations - a 50% increase in profits can readily be made in blocking Campbell spending petty cash on cakes and biscuits. The BoD are only taking £1.5M. The other £500K is being used to bribe Internet aliases into supporting the CIC initiative. That's a tenner to PozBaird and the rest going to my aliases. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 13, 2011 Report Share Posted April 13, 2011 It reads well - looks interesting and convincing... Any grammatical errors? Quote Link to comment Share on other sites More sharing options...
animal Posted April 13, 2011 Report Share Posted April 13, 2011 Yes, there is proof as I have already said. Geoff Brown will gladly share with you the financial success of the utilization of their stadium all year round. It is hardly a secret either - but then you don't seem to want facts as that would stop your wild negative speculation. I have been involved as a consultant in the review of St Mirren's commercial operations - a 50% increase in profits can readily be made in blocking Campbell spending petty cash on cakes and biscuits. The BoD are only taking £1.5M. The other £500K is being used to bribe Internet aliases into supporting the CIC initiative. That's a tenner to PozBaird and the rest going to my aliases. I know its hard for you but try to take this seriously. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 13, 2011 Report Share Posted April 13, 2011 I know its hard for you but try to take this seriously. I take the CIC plans seriously - you no so much. Quote Link to comment Share on other sites More sharing options...
animal Posted April 13, 2011 Report Share Posted April 13, 2011 I take the CIC plans seriously - you no so much. So seriously that you can't answer simple questions or justify statements about 'plenty of income'. Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 13, 2011 Report Share Posted April 13, 2011 Folks, While it is not terribly practical to answer questions on a piecemeal basis just now we will start to go through some of the previously posted questions on this and the offical forum that can be answered in a more straight forward manner, in order to clear up some easily resolved queries. We will have some online Q&A sessions shortly and the public meetings which will be a better forum to deal with some of the more complex questions and concerns. We all appreciate your patience and the fact that many are really giving the issue considerable thought and articulating some worthy questions. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 13, 2011 Report Share Posted April 13, 2011 So seriously that you can't answer simple questions or justify statements about 'plenty of income'. Again, you think that the world exists to answer your questions. A quick visit to St Johnstone's web site will tell you that a significant proportion of the clubs income comes from non-footballing activities. If you phone and ask for Grant or Lindsey they will be delighted to tell you how well the clubs non-footballing activities are doing - but of course you won't do that...you will expect them to come and deliver the information to you in the comfort of your own home and put on a wee floor show for you because you are a VIP supporter. Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 13, 2011 Report Share Posted April 13, 2011 Does Mr. A or some of the other new faces draw a salary from the CIC ? Please see the note posted on the 10000hours item regarding the answering of questions at this time. However the one above is certainly in the straight forward to answer category. Mr. A or any of the other new faces will not draw any salary from the CIC. Also worth noting that neither of the two new club directors have been either paid or claimed any expenses during this process of invetsigating the fesibility of the 10000hours CIC buyout Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 13, 2011 Report Share Posted April 13, 2011 If the CIC chose to publish on this site then why shouldn't I repond on it? Please see the note on the 10000hours thread regarding questions. As a straightforward one there is no reason at all why you should not respond on the forum. However forum posting can confuse some of the issues as the real questions can get lost in the haze of other posts so we would appreciate it if you would also send questions to the [email protected] address. It is just an easier way for us to keep track that we are considering all the questions. Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 13, 2011 Report Share Posted April 13, 2011 I find it hard to believe that a bar trading for couple of hours every second week, the odd funeral wedding etc, and the other community users can generate the hard cash needed to pay off the loans (both capital and interest). These key figures are not in the document - are they in the detailed business plan ? Do you have any expertise in this kind of business ? Please share it with us. Just to answer another couple of straight forward ones. There is only so much we can put in a document that is to be generally circulated. But be assured that the deatiled business plan does contain the appropriate figures and that these figures are robust and have been analysed extremely critically by those involved in the funding processes. We would be happy to engage with anyone on a face to face basis to go over these number, although you hopefully appreciate that it is quite busy at the moment! Also an number of the 10000hours team do have considerable experience in this kind of business and their professional expertise has been applied to the business plan for the void area. Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 13, 2011 Report Share Posted April 13, 2011 I also wonder that if I were to become a member of the CiC would I still be partly responsible for paying this debt should the whole plan fall apart? Will I still be held accountable for repayment? There would be no liabilty to an individual member of the 10000hours CIC. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 13, 2011 Report Share Posted April 13, 2011 So seriously that you can't answer simple questions or justify statements about 'plenty of income'. You've gone awfy quiet. Quote Link to comment Share on other sites More sharing options...
RossTheBoss Posted April 13, 2011 Report Share Posted April 13, 2011 Welcome to the forum, 10000hours Quote Link to comment Share on other sites More sharing options...
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