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10000Hours Bid Is Rejected


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And the search continues..... realistically is anyone going to, in the current climate of spl/scottish football pay out over a million quid to buy something that occasionally might break even, more normally needs cash injections to keep it going?

Personally unless you were a fan, you'd be daft to spend over a million buying an SPL side like ours.

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Might be the wrong thing to say, but in all honesty I'm as bored with our own club's will we / won't we saga as I was with the Rangers situation. Totally drawn out for months on end and ultimately leads to nothing! I just feel sorry for all the guys behind the bid who put an immense amount of effort in to try and make it happen, and the 1000 Saints fans (myself included) who were willing to put their money where there mouth is.

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Not sure whether this is good news or bad news. I signed up to 10000Hours and remained signed up, looked a little bit too flawed in all honesty, people went on about how it would bring financial stability, but I think a 'normal takeover' would be a safer option. Wonder if the fans who were backing 10k hours will go right back to the drawing board or if the club are now preferring a classic takeover...

Is the American guy the front runner now then?

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That's a bit of a slap in the face to the 1,000 St.Mirren fans who did back the bid in my opinion.

Rejecting it because of financial concerns is fine, but the selling consortium should have least have acknowledged that 1000 fans backed it with their own money.

I think the wording of that leaves it open to interpretation but my reading of that was that they're just trying to reassure the fans that they won't now just sell the club to an unknown who arrives with the required amount of cash - unless they have the best interests of the club at heart. I don't think they're saying anything against the fans or 10000 Hours.

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It's been so long and drawn out that I'm sort of relieved that this hasn't gone through, because I don't feel there was anywhere near enough certainty that it was going to work and that the club would continue to be able to compete on the same financial level as it does currently. If it had been such a good model in the first place, it would not have dragged on this long and the deal would have been signed months ago.

Fans' takeovers sound fantastic on paper but they need to work financially. This bid never filled me with complete confidence that it would do that.

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Got to give REA credit for the extremely hard work and long hours he has put in on behalf of the fans ownership proposals as far as I can see the guy worked his cotton soaks off to strike a deal. Hope REA sees fit to stay on at the club.

So the status quo remains, no bad thing as the club is very well run we have the best team in over a decade , in the SPL have our own training ground , new stadium with a good youth set up. Sorry for REA and 10,000 hours but happy with the current board.

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That's a bit of a slap in the face to the 1,000 St.Mirren fans who did back the bid in my opinion.

Rejecting it because of financial concerns is fine, but the selling consortium should have least have acknowledged that 1000 fans backed it with their own money.

I, and many others were cautiously backing the bid. The selling consortium know a lot more about the offer than I do, and if they genuinely are acting in the best interests of St Mirren (which they have done for many years now), then I'm happy for them to turn the offer down. I don't see why Gilmour etc. should be patting us on the back for our small contributions to the 10K Hours offer.

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That's a bit of a slap in the face to the 1,000 St.Mirren fans who did back the bid in my opinion.

Rejecting it because of financial concerns is fine, but the selling consortium should have least have acknowledged that 1000 fans backed it with their own money.

You are unnecessarly sensitive. i take it to mean that they will be very selective as to who they will consider from here on in and it is not an inferred criticism of anyone associated with the failed bid. I'm sure the board will be happy to deal with anyone who was associated with 10000 hours and who is able to bring a credibl proposal to the table

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I do hope 10000 hours take stock, step back, think and do not attempt another 'doomed from the outset' attempt. Flogging a dead horse would leave them open to real ridicule and possible hostility if it continued to effect the running of the club.

they tried (several options) it didn't work out. move on with dignity.

I say the ball is in the selling consortium/BoD's court! if they want and value a fan ownership model, then they should be facilitating the set up of that, how it could be satisfatorily financed, run by members able to take control following a transitional period. Come on BoD nobody's gonnae pay what you want, time to think outside the box!

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That's a bit of a slap in the face to the 1,000 St.Mirren fans who did back the bid in my opinion.

Rejecting it because of financial concerns is fine, but the selling consortium should have least have acknowledged that 1000 fans backed it with their own money.

Hopefully who ever ends up with the club will get these fans involved, they would be stupid not to.

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It is not good that the fans have failed to have a vital say in how the club is run. However I think that the BOD made the right call, I took a punt on signing up and I hoped that it would work. However the whole thing was a bit ropey and lacked a bit of financial clout.

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Got to give REA credit for the extremely hard work and long hours he has put in on behalf of the fans ownership proposals as far as I can see the guy worked his cotton soaks off to strike a deal. Hope REA sees fit to stay on at the club.

Hear, hear!

He's worked tirelessly behind the scenes from what I've understood and come into this situation having to "learn on his feet" so to speak.

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That's a bit of a slap in the face to the 1,000 St.Mirren fans who did back the bid in my opinion.

Rejecting it because of financial concerns is fine, but the selling consortium should have least have acknowledged that 1000 fans backed it with their own money.

I imagine it was phrased in that manner to try to emphasise that it was not simply a matter of money that led the Consortium to reject the bid. (Whether true or not.)

Although I was happy to back this bid and I still think there are significant benefits to fan ownership, it was obvious that opinion on here was very divided. And the longer it went on, the more and more the initial enthusiasm started to wain.

For a bid like this to succeed, I think it would have to capture the imaginations of a large majority of the support. For what ever reason it is clear that 10000hours did not manage this. So I can understand the Consortium expressing fears over whether the bid was sustainable and in the best interests of the club.

Irrespective of the reasons I think it's a sad day for the club. Hopefully we won't be looking back in a few months time regretting this day if the club is sold to the next Craig Whyte or Brooks Mileson.

If we are, one thing is for sure, we only have ourselves to blame.

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I imagine it was phrased in that manner to try to emphasise that it was not simply a matter of money that led the Consortium to reject the bid. (Whether true or not.)

Although I was happy to back this bid and I still think there are significant benefits to fan ownership, it was obvious that opinion on here was very divided. And the longer it went on, the more and more the initial enthusiasm started to wain.

For a bid like this to succeed, I think it would have to capture the imaginations of a large majority of the support. For what ever reason it is clear that 10000hours did not manage this. So I can understand the Consortium expressing fears over whether the bid was sustainable and in the best interests of the club.

Irrespective of the reasons I think it's a sad day for the club. Hopefully we won't be looking back in a few months time regretting this day if the club is sold to the next Craig Whyte or Brooks Mileson.

If we are, one thing is for sure, we only have ourselves to blame.

Can't agree with that last bit bud. It was 10000 hours bid that got the heave-ho, not the concept of fan ownership. And i think it is important to highlight that. as I said the ball is in the selling consoortium and BoD's court!

If they want to they can prepare the ground for fan ownership to take the reins from them. Without a crazy debt attached to it.

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I imagine it was phrased in that manner to try to emphasise that it was not simply a matter of money that led the Consortium to reject the bid. (Whether true or not.)

Although I was happy to back this bid and I still think there are significant benefits to fan ownership, it was obvious that opinion on here was very divided. And the longer it went on, the more and more the initial enthusiasm started to wain.

For a bid like this to succeed, I think it would have to capture the imaginations of a large majority of the support. For what ever reason it is clear that 10000hours did not manage this. So I can understand the Consortium expressing fears over whether the bid was sustainable and in the best interests of the club.

Irrespective of the reasons I think it's a sad day for the club. Hopefully we won't be looking back in a few months time regretting this day if the club is sold to the next Craig Whyte or Brooks Mileson.

If we are, one thing is for sure, we only have ourselves to blame.

That is just total nonsense.

I was not totally convinced by the takeover bid and not convinced by 10000 Hours' ability to run the football club going forward without hitting some sort of financial difficulty. I'm not just going to back the bid because it's a fans' takeover and because it sounds like a great idea on paper. It has to be viable.

IIRC, 10000 Hours hit their target in respect of the number of fans they wanted signed up to this, but still couldn't finalise a deal. I think that says everything we need to know. It was up to 10000 Hours to convince more people to come on board if that was what was required, not the other way about. The fans are blameless in all of this, and in fact, given how many were willing to back the bid with a certain degree of blind faith, I think the fans come out of this pretty well.

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I think the fans come out of this pretty well.

I think that's a decent point. I mean, as a fan, there's not much you can do apart from fill out the form and commit to so much money a month. The only way to do more would be to volunteer any kind of skills you had to help them out but most people just don't have the time for that.

Edited by Obi-Wan Ben Kenobi
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Credit to Richard Atkinson for stepping up to the plate with this off-the-wall takeover proposal and for all the hard work he has put in over the last couple of years with the plan and working for our Board.

Credit to those within the selling consortium for giving this takeover proposal every chance of succeeding, for their continued determination to pass the club on to "safe hands" and for showing enormous patience as the sorry saga dragged on and on and on and on and inevitably smashed into the rocks.

Now let's put this behind us and move onwards and upwards.

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Quite simply time for the board to accept they will not be getting their asking price and either step up and show proper leadership at the club again or accept the best offer open to them.

I`d say 10,000 hours needs to look at a way to sell this concept better to business to show a bit more financial stability. Not the best time ever for trying that but not impossible.

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We could do without triumphalism or the blame game or 'I told you so' guff. Sounds as if the whole sale thing has ground to a halt. Is fan ownership completely dead? Having over 1,000 fans who were prepared to contribute is there any way to revive the whole thing in such a way it could become viable without major debt? I don't have a clue and am simply posing the question. I don't believe many , if any, were simply opposed to fan ownership.

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We could do without triumphalism or the blame game or 'I told you so' guff. Sounds as if the whole sale thing has ground to a halt. Is fan ownership completely dead? Having over 1,000 fans who were prepared to contribute is there any way to revive the whole thing in such a way it could become viable without major debt? I don't have a clue and am simply posing the question. I don't believe many , if any, were simply opposed to fan ownership.

McD fan ownership or part ownership is the way forward on many fronts. the problem with 10000 hours is they came to the fans LAST, would not reveal a business plan to the fans, insisted they had backers, funders, soft loans good to go, then when the time came they had nothing!

They rolled back in with GLS's shares on offer, and only the Fans as backers, still refusing to reveal a business plan to their only backers, the fans.

Now the BoD can set this up, with a prudent approach that is both viable and sustainable. they won't get £1.25m but they can set out a legacy that will see the club flourish in its community for many years to come. IF they approach the fans first!

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"... the right people..."

That can be read two ways. Do the consortium mean that they do not consider the fans to be the right people to own the club? Unlikely in my view otherwise they would have said so eons ago and saved us all the aggro before this idea ever grew arms and legs.

It could be interpreted that those who are not considered to be "the right people" does not relate specifically to the fans who backed the bid with their own money but other person/s unknown who they did not consider suitable, ie. the entity that was putting up the cash (Bii or whatever they are called)

Just a thought.

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McD fan ownership or part ownership is the way forward on many fronts. the problem with 10000 hours is they came to the fans LAST, would not reveal a business plan to the fans, insisted they had backers, funders, soft loans good to go, then when the time came they had nothing!

They rolled back in with GLS's shares on offer, and only the Fans as backers, still refusing to reveal a business plan to their only backers, the fans.

Now the BoD can set this up, with a prudent approach that is both viable and sustainable. they won't get £1.25m but they can set out a legacy that will see the club flourish in its community for many years to come. IF they approach the fans first!

Don't think SG and co were ever going to play ball after that !

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