Vambo57 Posted June 21, 2012 Report Share Posted June 21, 2012 I guess we'll just have to wait till tomorrow' s statement. Am I being too cynical in thinking that a 2 week delay is so that we fans will have no vote on a Newco, for that will be the outome of such a delay? Surely not... Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted June 21, 2012 Report Share Posted June 21, 2012 The sudden wheech from £10k srtb memberships to £25k has undoubtedly scared a few off. probably some of the selling consortium who had already agreed to take a £500k haircut in the selling price. That last re-launch was way, way too desperate to tempt/persuade business types etc to invest. it was ideal to tug at the rank and files heartstrings, but as a business it must seem very charles green! especially when you see GLS gets paid back out albeit in time, that detracts from the whole ethos of the dream "fan ownership" but someone gets to flog thier shares on the back of it, and gets a Bod seat. maybe it was the only way 10000 hours could think of to get to this point, however to attract business involvement they want a warm feeling its all long term and that no one is getting more out of it than them! Quote Link to comment Share on other sites More sharing options...
Big Fras Posted June 21, 2012 Report Share Posted June 21, 2012 Wild speculation abounds. I suspect that the 10,000Hours bid is going to be as good as it gets for SG & Co, who may now be regretting the whole amateur dramatics of "I'll never sell the club to anybody who doesn't have the best interests of SMFC at heart". GLS , Fitzy, a few legendary ex-players, and 1000+ supporters probably represent a body that has the best interests of the club at heart. I'm unaware of any business bigwigs and investment groups whose pin numbers and security codes all at one stage featured 160587 as digits. They don't exist. I hope the current BoD aren't having a petted lip about the idea of one of the 48% now set to run the club. That would be a sad way to end a great legacy. I'm sure they'll do the right thing. Quote Link to comment Share on other sites More sharing options...
smcc Posted June 21, 2012 Report Share Posted June 21, 2012 well going by the lowest figure in gordon scotts' statement which was £100,000 = 10,0000 new tenner pledgers needed, thats never happening so more 87 club plegers or 25k pledgers are vital Remember that £10 is the monthly subscription. 10,000 new pledges would realise your £100k in 1 month! Quote Link to comment Share on other sites More sharing options...
slapsalmon Posted June 21, 2012 Report Share Posted June 21, 2012 (edited) Remember that £10 is the monthly subscription. 10,000 new pledges would realise your £100k in 1 month! It's the upfront payment that's short. Not monthly subs, thats why he said it would have to be 87 or 77 club. Edited June 21, 2012 by slapsalmon Quote Link to comment Share on other sites More sharing options...
G.S Posted June 21, 2012 Report Share Posted June 21, 2012 With all 5 Members of the current selling consortium claiming to be St Mirren fans surely they will still still have an interest in the club after they sell there shares. Just an idea but if 10000 hours are going to be 100k to 200k short with there bid, why not offer each member of the consortium a 1877 membership as part of the deal this makes up 125k and if agreed wouldgo along way to making up the shortfall. I know they are selling the club because they want out but would them taking a step back and taking up a non executive role whilst still having 1877 shares in the club and a vote as to how the club is run not be a good thing for every1 involved. A long shot i know but just an idea. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted June 21, 2012 Report Share Posted June 21, 2012 With all 5 Members of the current selling consortium claiming to be St Mirren fans surely they will still still have an interest in the club after they sell there shares. Just an idea but if 10000 hours are going to be 100k to 200k short with there bid, why not offer each member of the consortium a 1877 membership as part of the deal this makes up 125k and if agreed wouldgo along way to making up the shortfall. I know they are selling the club because they want out but would them taking a step back and taking up a non executive role whilst still having 1877 shares in the club and a vote as to how the club is run not be a good thing for every1 involved. A long shot i know but just an idea. To be honest I like many others on here though that was what was happening anyway. I certainly assumed that Gilmour and McAusland would be interested in retaining a non executive directorship at the club, keeping their seat in the directors box and continuing to enjoy their usual match day experience having offloaded their shares and trousered a fortune at the clubs expense. Quote Link to comment Share on other sites More sharing options...
elvis Posted June 22, 2012 Report Share Posted June 22, 2012 To be honest I like many others on here though that was what was happening anyway. I certainly assumed that Gilmour and McAusland would be interested in retaining a non executive directorship at the club, keeping their seat in the directors box and continuing to enjoy their usual match day experience having offloaded their shares and trousered a fortune at the clubs expense. Yes your right thats exactly what i thought was happening. Quote Link to comment Share on other sites More sharing options...
sally02 Posted June 22, 2012 Report Share Posted June 22, 2012 Div, Could 10000 hours not negotiate the missing amount required, say for example £200k as has been mooted already, with the consortium members, as loans repayable at the same 8% interest as BII. On the above assumptions, they will have £700k paid up front anyway ? In that way their money is working for them handsomely in these poor economic times, and the additional 50% subscriptions should match the repayments, that according to the original calculation for the £7500 covering the BII loan of £500k. i.e. an extra £3500 monthly would cover £200-£250k loan. Quote Link to comment Share on other sites More sharing options...
Julian Banjos Posted June 22, 2012 Report Share Posted June 22, 2012 According to the PDE, the 10000 hours deal is being held back until the outcome of the newco vote is discovered as the takeover "hinges on Sky cash". Quote Link to comment Share on other sites More sharing options...
TsuMirren Posted June 22, 2012 Report Share Posted June 22, 2012 This'll be the same SKY who are battering on about the legacy left by the Olympics, whilst at the same time funding the mongrel leage down South. Quote Link to comment Share on other sites More sharing options...
Reynard Posted June 22, 2012 Report Share Posted June 22, 2012 (edited) According to the PDE, the 10000 hours deal is being held back until the outcome of the newco vote is discovered as the takeover "hinges on Sky cash". Does lack of SKY wedge and lack of team 12 in the league mean that funding for the CiC bid is affected in some way? I take it that the "other bidder" can then cruise in and gazump the CiC bid? Unless they too don't want to be involved if the money tap gets turned off or shut down to a trickle. Some pretty major decisions are going to be made in the next few weeks. Does this mean that our board are likely to vote yes now due to self interest? And I dont mean self interest regarding the club, I mean for themselves. Its a real shame that TV money has become EVERYTHING for the game as its ruined the sport in my opinion. For all of the extra money that has been swilling around, it really hasn't done a thing to improve the actual sport up here. It has gone straight into the pockets of greedy bastard players and their agents. It has simply disappeared out of the game while the ordinary fan has ended up paying the best part of twenty sheets to go and watch these shysters in shorts. Edited June 22, 2012 by Reynard Quote Link to comment Share on other sites More sharing options...
2becks Posted June 22, 2012 Report Share Posted June 22, 2012 Does lack of SKY wedge and lack of team 12 in the league mean that funding for the CiC bid is affected in some way? I take it that the "other bidder" can then cruise in and gazump the CiC bid? Unless they too don't want to be involved if the money tap gets turned off or shut down to a trickle. Some pretty major decisions are going to be made in the next few weeks. Does this mean that our board are likely to vote yes now due to self interest? And I dont mean self interest regarding the club, I mean for themselves. Its a real shame that TV money has become EVERYTHING for the game as its ruined the sport in my opinion. For all of the extra money that has been swilling around, it really hasn't done a thing to improve the actual sport up here. It has gone straight into the pockets of greedy bastard players and their agents. It has simply disappeared out of the game while the ordinary fan has ended up paying the best part of twenty sheets to go and watch these shysters in shorts. I would have thought the influence of Sky money would have the opposite effect. The club is still worth the same amount to 10000 hors i.e. the fans regardless of TV income, but is worth far less to outsiders looking for a financial investment if the Sky money disappears. Quote Link to comment Share on other sites More sharing options...
Reynard Posted June 22, 2012 Report Share Posted June 22, 2012 This'll be the same SKY who are battering on about the legacy left by the Olympics, whilst at the same time funding the mongrel leage down South. As much as I love St.Mirren I can barely watch football now. I have actually been quite enjoying the Euros this time around but I really find it tough to watch the circus down in England these days and I have barely any interest left in whats going on in Scotland now either, the Rangers nonsense has just about culled my enthusiasm for the sport up here. The authorities up here have given out loads of the wrong signals as far as I am concerned and it is clear who our game has been getting run. We have been taken for mugs. Its one of the reasons I really hoped our fans could get their hands on our club, as it could be the first time we really got a say in sporting matters as well as the financials. Quote Link to comment Share on other sites More sharing options...
Reynard Posted June 22, 2012 Report Share Posted June 22, 2012 (edited) I would have thought the influence of Sky money would have the opposite effect. The club is still worth the same amount to 10000 hors i.e. the fans regardless of TV income, but is worth far less to outsiders looking for a financial investment if the Sky money disappears. I thought there was a funder from some organisation ponying up some wedge for the up front bung to the departing board/consortium? Would the SKY money potentially going affect that funding in some way? Thats what I was meaning. Edited June 22, 2012 by Reynard Quote Link to comment Share on other sites More sharing options...
Julian Banjos Posted June 22, 2012 Report Share Posted June 22, 2012 Does lack of SKY wedge and lack of team 12 in the league mean that funding for the CiC bid is affected in some way? I take it that the "other bidder" can then cruise in and gazump the CiC bid? Unless they too don't want to be involved if the money tap gets turned off or shut down to a trickle. Some pretty major decisions are going to be made in the next few weeks. Does this mean that our board are likely to vote yes now due to self interest? And I dont mean self interest regarding the club, I mean for themselves. I can't quite see how the 10000hours deal alone would be dependent upon the Sky cash. You would have thought that every bid for the club would be factoring that in. Would suggest though that the sticking point is the future finances of the club rather than those of the selling consortium? I guess we'll find out more shortly. The joint statement is to be released at 10am. Quote Link to comment Share on other sites More sharing options...
flyingscot Posted June 22, 2012 Report Share Posted June 22, 2012 According to the PDE, the 10000 hours deal is being held back until the outcome of the newco vote is discovered as the takeover "hinges on Sky cash". How so? Are they wishing to re-negotiate price- worth less without Newco? Given 10000 hours is separate from club revenue, no debt on the club or impact on playing budget I don't see how it hinges on Sky money. Quote Link to comment Share on other sites More sharing options...
Reynard Posted June 22, 2012 Report Share Posted June 22, 2012 How so? Are they wishing to re-negotiate price- worth less without Newco? Given 10000 hours is separate from club revenue, no debt on the club or impact on playing budget I don't see how it hinges on Sky money. Perhaps the funders money is in some way dependent on the status quo remaining? Maybe less will be lobed towards the CiC if things change? I'm not sure if this will be the case BTW but it seems to be the only actual variable in the bid, unless the CiC are looking at offering a lot less in the no newco scenario? It will certainly affect revenue to the football club if SKY money goes/lessens or Rangers disappear. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 22, 2012 Report Share Posted June 22, 2012 According to the PDE, the 10000 hours deal is being held back until the outcome of the newco vote is discovered as the takeover "hinges on Sky cash". With the monthly subscriptions now £40k p.a. over what was needed to fund the BII loan I am struggling to see why the shortfall in corporate subscriptions should be such a big problem. I am leaning towards the Machiavellian view expressed by Vambo57 a few posts back that delaying the deal lets the consortium take the flak for voting for Newco and lets the CIC come in with a clean slate. Quote Link to comment Share on other sites More sharing options...
flyingscot Posted June 22, 2012 Report Share Posted June 22, 2012 With the monthly subscriptions now £40k p.a. over what was needed to fund the BII loan I am struggling to see why the shortfall in corporate subscriptions should be such a big problem. I am leaning towards the Machiavellian view expressed by Vambo57 a few posts back that delaying the deal lets the consortium take the flak for voting for Newco and lets the CIC come in with a clean slate. Looking at the voting at the moment, it looks very unlikely that we will see Zombie Rangers in the SPL. 3 confirmed nos, Aberdeen have confirmed they are voting no this morning as have Hearts and Dundee United. Rod Petrie has taken that stance from the start too at Hibs. Motherwell are letting fans decide. That is 5 for starts. Quote Link to comment Share on other sites More sharing options...
Julian Banjos Posted June 22, 2012 Report Share Posted June 22, 2012 I am leaning towards the Machiavellian view expressed by Vambo57 a few posts back that delaying the deal lets the consortium take the flak for voting for Newco and lets the CIC come in with a clean slate. By the sounds of it, the St Mirren vote may not matter for Newco anyway. Motherwell and Hibs are stick-ons to join Hearts, Aberdeen and Dundee Utd in voting against. Quote Link to comment Share on other sites More sharing options...
Reynard Posted June 22, 2012 Report Share Posted June 22, 2012 With the monthly subscriptions now £40k p.a. over what was needed to fund the BII loan I am struggling to see why the shortfall in corporate subscriptions should be such a big problem. I am leaning towards the Machiavellian view expressed by Vambo57 a few posts back that delaying the deal lets the consortium take the flak for voting for Newco and lets the CIC come in with a clean slate. Yeah, I can only see a problem if the consortium chaps are not willing to take a reduced up front lump sum. The money in terms of CiC turnover seems to be reasonably sound as the supporters have backed this, it may take longer to pay off because the corporates haven't been there in the numbers required to lay down an immediate slab of wedge, but it will be paid in due course if patience is exercised. There does seem to be one major funder from somewhere that was loaning half a million? Is THAT affected in any way by the Rangers thing or the SKY thing? Would they be ponying up less or something? Quote Link to comment Share on other sites More sharing options...
Reynard Posted June 22, 2012 Report Share Posted June 22, 2012 (edited) Looking at the voting at the moment, it looks very unlikely that we will see Zombie Rangers in the SPL. 3 confirmed nos, Aberdeen have confirmed they are voting no this morning as have Hearts and Dundee United. Rod Petrie has taken that stance from the start too at Hibs. Motherwell are letting fans decide. That is 5 for starts. 5 noes is all thats needed Petrie has always seemed to be set against voting yes from his public rumblings, so Id fully expect Hibs to vote no. If Motherwell take on board what their fans want then they too will vote no. Edited June 22, 2012 by Reynard Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted June 22, 2012 Report Share Posted June 22, 2012 Looking at the voting at the moment, it looks very unlikely that we will see Zombie Rangers in the SPL. 3 confirmed nos, Aberdeen have confirmed they are voting no this morning as have Hearts and Dundee United. Rod Petrie has taken that stance from the start too at Hibs. Motherwell are letting fans decide. That is 5 for starts. Events move and while I would love to see Rangers start at Division 3 of the SFL or worse let's not count votes or chickens prematurely. Quote Link to comment Share on other sites More sharing options...
Isle Of Bute Saint Posted June 22, 2012 Report Share Posted June 22, 2012 Can tell you right now if St Mirren vote ‘YES’ for a newco I will be pulling out of 10,000hours. Not only is it wrong but if 10,000 hours is relying heavily on TV money then I don’t want to be part of it for obvious reasons. If any of you feel the same you should let it be known Quote Link to comment Share on other sites More sharing options...
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