St. Sid Posted June 12, 2012 Report Share Posted June 12, 2012 http://www.paisleyda...87085-31160586/ That's an odd press release given the response I got the my question yesterday. You'd think they'd have given up that they were having the vote yesterday. GLS as the new Chairperson and TF as vice-Chair. Quote Link to comment Share on other sites More sharing options...
div Posted June 12, 2012 Author Report Share Posted June 12, 2012 Is there anyone there? Poz's point is VERY important. I know too late now, but: e.g. Why did the CIC not send out letters and paper DD mandates to all ST holders informing them of the deadline? I think the membership of BAWA is around the 3,000 mark, but you are actually probably engaging a few hundred fans on here, allowing for 'dead' accounts, and the fandans with multiple aliases. I'm sure Richard will confirm but simply put 10000Hours doesn't have access to the personal data relating to the St.Mirren season ticket holders. Quote Link to comment Share on other sites More sharing options...
Vambo57 Posted June 12, 2012 Report Share Posted June 12, 2012 Quote Link to comment Share on other sites More sharing options...
bud72 Posted June 12, 2012 Report Share Posted June 12, 2012 Fitzy has been interviewed for Sky Sports News Radio. Should be on Wed between 4pm - 7pm Quote Link to comment Share on other sites More sharing options...
Vambo57 Posted June 13, 2012 Report Share Posted June 13, 2012 Fitzy has been interviewed for Sky Sports News Radio. Should be on Wed between 4pm - 7pm Well, that will reach into every Paisley Household then. Not. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted June 13, 2012 Report Share Posted June 13, 2012 Well, that will reach into every Paisley Household then. Not. It's hardly 10000hours fault. The story won't attract media outlets because they are all parked off down at the circus at Ibrox, and in fairness who can blame them. Even on this website the activity has shifted from the threads about the takeover to threads laughing at the plight of Rangers. Hopefully Gilmour and the rest of the consortium will stop being such fannies and will either reduce the price to whatever 10000hours can afford, or at least extend their stupid deadline to September to allow 10000hours access to supporters at the gate during the football season. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 13, 2012 Report Share Posted June 13, 2012 Fitzy has been interviewed for Sky Sports News Radio. Should be on Wed between 4pm - 7pm That might be an indication that the CIC will go ahead. Quote Link to comment Share on other sites More sharing options...
Julian Banjos Posted June 13, 2012 Report Share Posted June 13, 2012 Signed up last night. According to the website, they're now 70% towards the target of £7500. 62 hours to go. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 13, 2012 Report Share Posted June 13, 2012 Signed up last night. According to the website, they're now 70% towards the target of £7500. 62 hours to go. Whether it goes ahead or not getting fans to commit to £5,275.00 per month is a helluvan acheivement. It would be interesting to see the adjustment to the sell price required for this to carry on. Drop the price to £1.2Million? That'd be £75K off the bonus payment for each consortium member. Quote Link to comment Share on other sites More sharing options...
ktf Posted June 13, 2012 Report Share Posted June 13, 2012 Whether it goes ahead or not getting fans to commit to £5,275.00 per month is a helluvan acheivement. It would be interesting to see the adjustment to the sell price required for this to carry on. Drop the price to £1.2Million? That'd be £75K off the bonus payment for each consortium member. REA says there's little chance of that being accepted... My instinct tells me otherwise Quote Link to comment Share on other sites More sharing options...
buddienixon Posted June 13, 2012 Report Share Posted June 13, 2012 Whether it goes ahead or not getting fans to commit to £5,275.00 per month is a helluvan acheivement. It would be interesting to see the adjustment to the sell price required for this to carry on. Drop the price to £1.2Million? That'd be £75K off the bonus payment for each consortium member. Sorry if this has been covered already but if we only get say 85-90% of the target amount is the deal off? Or will 10000hours table an offer based on what we have committed? Quote Link to comment Share on other sites More sharing options...
ktf Posted June 13, 2012 Report Share Posted June 13, 2012 Sorry if this has been covered already but if we only get say 85-90% of the target amount is the deal off? Or will 10000hours table an offer based on what we have committed? What I just wrote above. It'll be tabled. I think it'll be accepted. The official line is there insn't much chance - I think that's just talk... Quote Link to comment Share on other sites More sharing options...
Julian Banjos Posted June 13, 2012 Report Share Posted June 13, 2012 Far fetched? Newco FC have to apply for re-entry to the SPL. 2 weeks following their application the SPL member clubs vote on whether to let them back into the league. If St Mirren FC are in fans' hands on July 4th AND if Newco FC don't submitted their application to the SPL in the next 7 days then St Mirren fans will be voting on the application. Could even be the deciding vote.... Quote Link to comment Share on other sites More sharing options...
div Posted June 13, 2012 Author Report Share Posted June 13, 2012 Sorry if this has been covered already but if we only get say 85-90% of the target amount is the deal off? Or will 10000hours table an offer based on what we have committed? Deal won't necessarily be off but the social funder needs to have comfort that the loan repayments can be met. So if there are less subscribers that causes a problem. If there are more subscibers then that gives them confidence that the loan can not only be repaid but that there is a prospect of quicker payback and some headroom as well should people drop out in the future. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 13, 2012 Report Share Posted June 13, 2012 Far fetched? Newco FC have to apply for re-entry to the SPL. 2 weeks following their application the SPL member clubs vote on whether to let them back into the league. If St Mirren FC are in fans' hands on July 4th AND if Newco FC don't submitted their application to the SPL in the next 7 days then St Mirren fans will be voting on the application. Could even be the deciding vote.... And self same fans could be in a similar position if their cic goes into administration in the future? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 13, 2012 Report Share Posted June 13, 2012 Far fetched? Newco FC have to apply for re-entry to the SPL. 2 weeks following their application the SPL member clubs vote on whether to let them back into the league. If St Mirren FC are in fans' hands on July 4th AND if Newco FC don't submitted their application to the SPL in the next 7 days then St Mirren fans will be voting on the application. Could even be the deciding vote.... Nope, the decision will be made by the SMFC BoD. It is made up of Tony F and GLS (St Mirren fans) & REA, CS and BC (not St Mirren fans). The majority of BoD members deciding the vote will be non-St Mirren fans. CIC Members won't even have a say never mind the rest of the St Mirren fans. The interim BoD appear to be fairly unanimous in their view that it would be better for SMFC to have a newco scumgers in the SPL. Surely this would be a good question to ask 10000 Hours rather than fans just making up scenarios to try and convince other fans to vote for a CIC based on speculation. Quote Link to comment Share on other sites More sharing options...
buddienixon Posted June 13, 2012 Report Share Posted June 13, 2012 Deal won't necessarily be off but the social funder needs to have comfort that the loan repayments can be met. So if there are less subscribers that causes a problem. If there are more subscibers then that gives them confidence that the loan can not only be repaid but that there is a prospect of quicker payback and some headroom as well should people drop out in the future. I believe that the timing of the deadline and the final push for DDMs is the issue here. With it being over the summer it's made it more difficult to engage the whole fanbase. I think that once things are up and running that the monthly commitment from fans will grow and grow, far exceeding the £7500/month target. I just hope if we don't make it by Friday that Richard can convince the funders and the consortium of that. It looks like we might fall short but not by all that much. Quote Link to comment Share on other sites More sharing options...
div Posted June 13, 2012 Author Report Share Posted June 13, 2012 And self same fans could be in a similar position if their cic goes into administration in the future? Under what scenario do you see the possibility of the CIC going into administration ? Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 13, 2012 Report Share Posted June 13, 2012 Under what scenario do you see the possibility of the CIC going into administration ? That's an unfair question to somner9 when he has no access to the financials. Why not turn the question back on yourself and provide evidence based on actual finances that there is no risk of the CIC failing. Anyone at the meeting heard about a gap in generating income to fund the debt repayments. There is risk involved in this. Quote Link to comment Share on other sites More sharing options...
div Posted June 13, 2012 Author Report Share Posted June 13, 2012 I believe that the timing of the deadline and the final push for DDMs is the issue here. With it being over the summer it's made it more difficult to engage the whole fanbase. I think that once things are up and running that the monthly commitment from fans will grow and grow, far exceeding the £7500/month target. I just hope if we don't make it by Friday that Richard can convince the funders and the consortium of that. It looks like we might fall short but not by all that much. I think you are spot on. It's a difficult time of year to get the message out there, and the mainstream media are too pre-occupied with Rangers to bother giving St.Mirren any airtime. In fairness as well there is an air of apathy and continuing confusion about the 10000Hours proposal as it has been going on now for two years. I myself have been very discouraged at times about the whole thing. Now we have clarity though, we have a deadline, and I feel enough detail is out there now for fans to make up their mind. It's just a case of ensuring that everyone knows that this deadline is real, and if the bid fails then the club will be sold elsewhere. Events up the road make that a horrible prospect from many different angles. Quote Link to comment Share on other sites More sharing options...
St. Sid Posted June 13, 2012 Report Share Posted June 13, 2012 Now we have clarity though, we have a deadline, and I feel enough detail is out there now for fans to make up their mind. It's just a case of ensuring that everyone knows that this deadline is real, and if the bid fails then the club will be sold elsewhere. Events up the road make that a horrible prospect from many different angles. Div, there is no clarity....there isn't enough detail out there. All that has changed is a deadline has been put in place and a threat of the club being sold to someone else put to the heads of fans. The huge hints about Massone being a bidder, which are complete bollox, are founding the CIC on the strength of lying to fans. 10000 Hours arrived at St Mirren with some fine values - fan empowerment, community, growing the club, growing the support, transparency......now 10000 Hours values appear to be spin, threats, confidentiality, commercialism and ripping the pish out of fans. We can only hope that they get back on track with their original values once the deal is complete. Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 13, 2012 Report Share Posted June 13, 2012 Under what scenario do you see the possibility of the CIC going into administration ? The scenario that faces any spl club. drop off/failure to generate suficient revenue. the cic example was specifically in relation to the rangres newco thing, not in this instance a specific cic silver bullet Quote Link to comment Share on other sites More sharing options...
buddienixon Posted June 13, 2012 Report Share Posted June 13, 2012 In fairness as well there is an air of apathy and continuing confusion about the 10000Hours proposal as it has been going on now for two years. I myself have been very discouraged at times about the whole thing. Perhaps if the deal is done then re-branding could help with tackling that appathy issue. I've always thought that 10000hours was a bit of an odd choice of name for a Saint Mirren's fan lead collective. It should have been something that St Mirren fans and everyone else could instantly recognise as being relevant to the club. Quote Link to comment Share on other sites More sharing options...
div Posted June 13, 2012 Author Report Share Posted June 13, 2012 Perhaps if the deal is done then re-branding could help with tackling that appathy issue. I've always thought that 10000hours was a bit of an odd choice of name for a Saint Mirren's fan lead collective. It should have been something that St Mirren fans and everyone else could instantly recognise as being relevant to the club. Don't disagree with any of that. 10000Hours is a crap name and I have thought that from the first day it was mentioned to me two years ago. Quote Link to comment Share on other sites More sharing options...
div Posted June 13, 2012 Author Report Share Posted June 13, 2012 The scenario that faces any spl club. drop off/failure to generate suficient revenue. the cic example was specifically in relation to the rangres newco thing, not in this instance a specific cic silver bullet For the CIC itself to go into administration it's member subscriptions would need to drop to a level whereby it could no longer service it's debt repayments and/or it would be failing to generate any additional revenue at all over and above the member subs. Members will drop in and out of the CIC but I don't see a scenario where the fans would all leave en masse and force the CIC into administration, do you ? The extra trading and extra subs required to repay the other £600k over 3-5 years is a concern of mine, no question, but I still think it is do-able and with the right organisation I can't see why it can't be acheived. Quote Link to comment Share on other sites More sharing options...
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