div Posted April 19, 2011 Report Share Posted April 19, 2011 I wonder if the team could answer some questions I have about the completion of the deal and give some indication on the rough timetable of events ? 1) Is completion of the deal dependent on the team securing it's SPL status ? Although £2m for 52% of the club already seems very high presumably it would be worth a lot less as a first division club (not that I expect that to happen !) 2) When will the actual individual sign up process begin ? 3) Once users sign up presumably no money will be taken until the threshold of 300 is reached ? 4) Is there a deadline for the 300 sign up figure to be reached, if so when is it ? 5) Are any of the selling consortium going to remain on the board for any length of time after the CIC has gained control of the 52% of shares ? 6) Are the selling consortium going to be paid in phases ? I assume so, if so over what period of time would they be paid their money ? 7) What happens if we start paying off the £2m and then half way through the process the CIC collapses for some reason ? 8) Are any of the selling consortium going to re-invest any of their money back into the CIC as corporate members ? Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 19, 2011 Report Share Posted April 19, 2011 I wonder if the team could answer some questions I have about the completion of the deal and give some indication on the rough timetable of events ? 1) Is completion of the deal dependent on the team securing it's SPL status ? Although £2m for 52% of the club already seems very high presumably it would be worth a lot less as a first division club (not that I expect that to happen !) No. the deal will complete when the money is all avalaibe and the membership numbers are achieve 2) When will the actual individual sign up process begin ? Very Soon 3) Once users sign up presumably no money will be taken until the threshold of 300 is reached ? Probably, the issues with things like standing orders and direct debits which we are working through may mean that we need to take payment when the forms are done and before the deal completes, but if the deal does not complete any money will be returned. 4) Is there a deadline for the 300 sign up figure to be reached, if so when is it ? We dont wish to set a deadline but we do need to act quickly once the forms go out. It is a bit of a catch 22. Members waiting to see about funding and funders waiting to see if the members really do come forward, so it is just important that when the real sign up process starts people who are interested come forward 5) Are any of the selling consortium going to remain on the board for any length of time after the CIC has gained control of the 52% of shares ? See question 8 answer 6) Are the selling consortium going to be paid in phases ? I assume so, if so over what period of time would they be paid their money ? Sorry i cannot answer this as the technical agreements on payment are confidential at this time. 7) What happens if we start paying off the £2m and then half way through the process the CIC collapses for some reason ? Not going to try and kid anyone, if it collapses we of course have a problem. We would suggest that firstly the funders view this as unlikely in their experienece of funding similar membership based organisations and that secondly we think it is far less likely that out of the St Mirren fan base everyone suddenly walks away (eg the owners as that is what the members will effectivly be) than an individual owning the club majority either losses interest or runs out of money etc. So it is really a question of risk. Do people prefer the risk of getting involved themsleves and the future of the club being in their hands or the risk of sitting back and letting the takover happen in some other way and then just being a passenger in whatever direction the new owner wishes to take 8) Are any of the selling consortium going to re-invest any of their money back into the CIC as corporate members ? Yes they are and this answers your previous question about continuing involvement of the current board. They will have the same rights as anyone else to stand for the elected members board and vote, and if the then eleceted members board decides they want to elect some of them back onto the board of the club then it will be upto them. Quote Link to comment Share on other sites More sharing options...
HSS Posted April 19, 2011 Report Share Posted April 19, 2011 What if someone dosent fancy getting involved just now but a year or two down the line decides they want to be involved?Will the opportunity always be there for them to come onboard? Quote Link to comment Share on other sites More sharing options...
pozbaird Posted April 19, 2011 Report Share Posted April 19, 2011 10000hours: In relation to the existing BOD being able to stand for 're-election' back onto the new board, how does the process of putting yourself forward for the club board and CIC board actually work? This applies to anyone, not just the current BOD of course. From a personal POV, I would find it extraordinary if for example the 5 consortium members sell their 52% for 2 million quid, then form the new club board! Would they, or anyone, need to fistly put themselves up for election, then effectively act like a politician and sell themselves to the members as being worthy of re-election? Will we be seeing 'Vote SG - you know it makes sense' posters at the ground? Or maybe 'Vote Animal' leaflets being distributed? Maybe I could stand myself -.'Vote Poz, better than a CIC in the nuts'. Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 19, 2011 Report Share Posted April 19, 2011 What if someone dosent fancy getting involved just now but a year or two down the line decides they want to be involved?Will the opportunity always be there for them to come onboard? Yes you will be able to get involved anytime, although you will have to have signed up a certain amount of time before a members election in order to vote or stand. 10000hours CIC Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 19, 2011 Report Share Posted April 19, 2011 10000hours: In relation to the existing BOD being able to stand for 're-election' back onto the new board, how does the process of putting yourself forward for the club board and CIC board actually work? This applies to anyone, not just the current BOD of course. From a personal POV, I would find it extraordinary if for example the 5 consortium members sell their 52% for 2 million quid, then form the new club board! Would they, or anyone, need to fistly put themselves up for election, then effectively act like a politician and sell themselves to the members as being worthy of re-election? Will we be seeing 'Vote SG - you know it makes sense' posters at the ground? Or maybe 'Vote Animal' leaflets being distributed? Maybe I could stand myself -.'Vote Poz, better than a CIC in the nuts'. It would be an election so indeed you would have to justify to the voter (the other members) why you should be voted on and what skills you will bring to moving the club forward. Quote Link to comment Share on other sites More sharing options...
davidg Posted April 19, 2011 Report Share Posted April 19, 2011 I would lower taxes, increase police numbers on the street, increase pay for nurses and bring back the death penalty. Vote David G !!!!! Quote Link to comment Share on other sites More sharing options...
pozbaird Posted April 19, 2011 Report Share Posted April 19, 2011 I would lower taxes, increase police numbers on the street, increase pay for nurses and bring back the death penalty. Vote David G !!!!! All laudable aims, but I'll do all of that and will campaign to have Garry Brady released from the cupboard under the stairs. Vote Poz. For a Poz-itive change. Jesus, even for me that's corny! Haa! Quote Link to comment Share on other sites More sharing options...
Charlie the Charolais Posted April 19, 2011 Report Share Posted April 19, 2011 What a load of ballocks Vote CtC 4 CiC Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 19, 2011 Report Share Posted April 19, 2011 Said it in another post....being on that CIC board is going to be a complete b'st'rd of a job....and you don't even get paid for it. We might need to apply to Renfrewshire C"ntcil for a couple of community service offenders to fill the members seats. Quote Link to comment Share on other sites More sharing options...
pozbaird Posted April 19, 2011 Report Share Posted April 19, 2011 Said it in another post....being on that CIC board is going to be a complete b'st'rd of a job....and you don't even get paid for it. We might need to apply to Renfrewshire C"ntcil for a couple of community service offenders to fill the members seats. As one of 5 people elected by the individual members though Sid, your primary function is to represent those members and act upon their wishes. A vote on something important might result in you thinking one way, but the members thinking otherwise. Just do whit' yer' telt tae' dae, and you'll be fine. Kind of like being married really. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 19, 2011 Report Share Posted April 19, 2011 As one of 5 people elected by the individual members though Sid, your primary function is to represent those members and act upon their wishes. A vote on something important might result in you thinking one way, but the members thinking otherwise. Just do whit' yer' telt tae' dae, and you'll be fine. Kind of like being married really. With you on that one. I think you are underestimating the BoD role for the CIC. It is not going to be a free and easy sausage roll theiving c"ntcillor style role and let's hope none of those c"nts get anywhere near it. We will be looking for people that will make things happen, not folk looking for cushy kudos. There will be too much work to be done for public sector minded quango board types. Quote Link to comment Share on other sites More sharing options...
pozbaird Posted April 19, 2011 Report Share Posted April 19, 2011 With you on that one. I think you are underestimating the BoD role for the CIC. It is not going to be a free and easy sausage roll theiving c"ntcillor style role and let's hope none of those c"nts get anywhere near it. We will be looking for people that will make things happen, not folk looking for cushy kudos. There will be too much work to be done for public sector minded quango board types. I'm not under-estimating it at all Sid! Anyone who decides to throw their hat into the ring needs to do so only if they are willing to do the very best they can, put in the hours, and bring something to the table. All I meant was that whatever is involved, whatever you are expected to do - first and foremost you are there to represent the people who elected you in the first place. I'm no politician so I don't know if what I've just said is wanky old school union rep bullshit or not, but it's just what I honestly believe. No place for swanning around thinkiing you're some sort of big shot - people would have put you there, do your job to represent them as best you can. End of. Quote Link to comment Share on other sites More sharing options...
bluto Posted April 19, 2011 Report Share Posted April 19, 2011 With you on that one. I think you are underestimating the BoD role for the CIC. It is not going to be a free and easy sausage roll theiving c"ntcillor style role and let's hope none of those c"nts get anywhere near it. We will be looking for people that will make things happen, not folk looking for cushy kudos. There will be too much work to be done for public sector minded quango board types. This is code for: Sid won't be there. Tho he may well heckle on the irrelevant sidelines. I hope this helps? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 19, 2011 Report Share Posted April 19, 2011 This is code for: Sid won't be there. Tho he may well heckle on the irrelevant sidelines. I hope this helps? I think you should take advantage of the holiday weekend and get out into the countryside those London fumes aren't doing you any good. I actually think I would be excellent on the BoD in about 15 years or so when I have the time to do it justice - providing the semi-retirement plan pans out okay and I survive that long. I barely have time to apply my pile cream these days let alone take on the running of a football club transition. In fact I have just changed jobs to ensure I spend a lot more time at home - much to the upset of Gary Blues. I doubt anyone with a proper full-time gig will be able to take this on, and certainly not anyone with a family at home. It'll probably be a business owner, from a well established business that can afford to take some time out, that or someone senior in a business that will be allowed time out to work on their CIC / SMFC duties or where them being involved in St Mirren would be advantageous to the business that employs them. I saw div strolling about Elderslie this morning in his civvies doing f"k aw - it could be he's been planning his life around a CIC BoD place for some time now. Quote Link to comment Share on other sites More sharing options...
div Posted April 20, 2011 Author Report Share Posted April 20, 2011 I saw div strolling about Elderslie this morning in his civvies doing f"k aw - it could be he's been planning his life around a CIC BoD place for some time now. Must have been on the school run Quote Link to comment Share on other sites More sharing options...
HSS Posted April 20, 2011 Report Share Posted April 20, 2011 If Sid got anywhere near the board I would not only turn my back on the cic,I would turn my back on the Club. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 20, 2011 Report Share Posted April 20, 2011 If Sid got anywhere near the board I would not only turn my back on the cic,I would turn my back on the Club. I might need to reconsider my previous post....between you saying you won't be back and Bluto already steering the religious voters my way it could be landslide victory for the bold St Sid. St Sid, the Fans President of St Mirren Football Club. Quote Link to comment Share on other sites More sharing options...
slapsalmon Posted April 20, 2011 Report Share Posted April 20, 2011 (edited) 7) What happens if we start paying off the £2m and then half way through the process the CIC collapses for some reason ?Not going to try and kid anyone, if it collapses we of course have a problem. We would suggest that firstly the funders view this as unlikely in their experienece of funding similar membership based organisations and that secondly we think it is far less likely that out of the St Mirren fan base everyone suddenly walks away (eg the owners as that is what the members will effectivly be) than an individual owning the club majority either losses interest or runs out of money etc. So it is really a question of risk. Do people prefer the risk of getting involved themsleves and the future of the club being in their hands or the risk of sitting back and letting the takover happen in some other way and then just being a passenger in whatever direction the new owner wishes to take Without wanting to sound negative, I dont think that answers the question at all. I for one would like to know what happens if the CIC does go down the swanny and not why you think it won't. What would the implications be to St Mirren Football Club if the CIC collapsed? Edited April 20, 2011 by slapsalmon Quote Link to comment Share on other sites More sharing options...
evertheoptimist Posted April 20, 2011 Report Share Posted April 20, 2011 (edited) It would to get a more specific answer on question 7. If the CIC defaults on the loans, are the individual members liable for any outstanding money owed? Edited April 20, 2011 by evertheoptimist Quote Link to comment Share on other sites More sharing options...
10000hours Posted April 21, 2011 Report Share Posted April 21, 2011 It would to get a more specific answer on question 7. If the CIC defaults on the loans, are the individual members liable for any outstanding money owed? No, in just the same way that if you are a member of your local gym and it fails you have no liability 10000hours Quote Link to comment Share on other sites More sharing options...
slapsalmon Posted April 21, 2011 Report Share Posted April 21, 2011 Again I will ask what are the implications to the club if it goes wrong at any stage down the line. This question has been swerved twice now! Quote Link to comment Share on other sites More sharing options...
Dibbles old paperboy Posted April 21, 2011 Report Share Posted April 21, 2011 Can we pay via standing order or does it have to be direct debit? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted April 21, 2011 Report Share Posted April 21, 2011 Again I will ask what are the implications to the club if it goes wrong at any stage down the line. This question has been swerved twice now! Drag your moany @rse along tonight and ask the question in person or can't you wait a couple of hours. Club and CIC are two separate entities - perhaps if you are more specific in what you think might happen? Quote Link to comment Share on other sites More sharing options...
bonzoboys Posted April 24, 2011 Report Share Posted April 24, 2011 (edited) RC indicated that there are 900 shareholders, mostly small numbers who have put their money in to do their little bit to help the club over the years. It looks to me that 900 less 5 of these Club supporters are being ignored at present. Given that the Club is in the middle of a very significant period of potential change, should they not be having a public meeting for shareholders to explain the wider implications of the CIC proposal to the 48% who are not part of the selling consortium? This does not need to be an EGM so I would assume that it could be advertised via the official and other un-official web pages and organised in the near future. The public meetings currently being run by 10000 Hours are obviously being fronted by RC and a group who obviously have their own agenda to put over and may or not be 100% open with the audience despite their claims of full transparency. I am concerned that the Chairman is speaking at the next 10000 Hours meeting and has yet to keep the current shareholders informed regards this matter. Edited April 24, 2011 by bonzoboys Quote Link to comment Share on other sites More sharing options...
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