Happy Buddie Posted May 15, 2014 Report Share Posted May 15, 2014 I've seen mention in a few topics of the fact that our financial problems of the late 90s almost meant the Club going out of business, which is when the new board took over. I didn't realise that things were that bad at the time (to be honest my personal life was in a bit of a turmoil at the time as well as pending redundancy, having to move abroad for work), so football was a bit of an irrelevance. I'd like to get a better view of the events then, so can anyone give me some details on the events back then or point me in the direction of somewhere I can find them? Quote Link to comment Share on other sites More sharing options...
Magic Monkey Posted May 15, 2014 Report Share Posted May 15, 2014 (edited) Not much detail here, but it's a start:http://www.heraldscotland.com/sport/spl/aberdeen/english-businessman-set-to-make-bid-for-st-mirren-1.356063 Edit: this article is more revealing - the day after Reg Brealey pulls out of the takeover after a BBC expose into his dodgy dealings:http://www.thefreelibrary.com/Brealey+won't+be+head+Saint%3B+UNDER-FIRE+REG+PULLS+OUT+OF+PAISLEY+DEAL.-a060265096 I'll keep looking. Thing is, it wasn't quite 'pre-internet' but it was definitely before everything was archived. What is safe to say is that St Mirren would be a totally different club (non-existent, probably) if that fecker had got his hands on us. Edited May 15, 2014 by Magic Monkey Quote Link to comment Share on other sites More sharing options...
Howard Hughes in BlueSuedeShoes Posted May 15, 2014 Report Share Posted May 15, 2014 Look at Hugh Scott & what happened at Cappielow. Morton were one of the few financially secure clubs in Scottish football before he arrived & when he left, just a few years later, they were in pretty heavily in debt. Both denied knowing each other yet there was a photo surfaced of the two of them shaking hands. There was some REAL dodgy shit going on and we really are lucky to be where we are. That’s why I can never reach the standards of vitriol against the club that some find so very easily these days. Quote Link to comment Share on other sites More sharing options...
Happy Buddie Posted May 15, 2014 Author Report Share Posted May 15, 2014 Not much detail here, but it's a start: http://www.heraldscotland.com/sport/spl/aberdeen/english-businessman-set-to-make-bid-for-st-mirren-1.356063 Edit: this article is more revealing - the day after Reg Brealey pulls out of the takeover after a BBC expose into his dodgy dealings: http://www.thefreelibrary.com/Brealey+won't+be+head+Saint%3B+UNDER-FIRE+REG+PULLS+OUT+OF+PAISLEY+DEAL.-a060265096 I'll keep looking. Thing is, it wasn't quite 'pre-internet' but it was definitely before everything was archived. What is safe to say is that St Mirren would be a totally different club (non-existent, probably) if that fecker had got his hands on us. Ta, it does bring back a few rusty memories Quote Link to comment Share on other sites More sharing options...
TsuMirren Posted May 15, 2014 Report Share Posted May 15, 2014 The problems go back to Lewis Kane, Fitzy's spending and the shareholders agreeing to extend the overdraft. I'm pretty sure I read that we were 800K in tbe black after the 87 Final, before Ferguson left. The spending got silly, competing with the OF for wages (fair enough pre-both having huge crowds weekly etc). Forward on a bit and George Campbell, I believe, controlled the takeover with Stewart Gilmour as his front man/chairman of choice. Mortgages, drawn down pensions, bank loans and underwritten share issues later we're now where we are. £1.5 million for St.Mirren, compared to the same for a non-league English side, is a bargain. I genuinely struggle to believe we've not been sold. But then, I know eff all about the majority of offers that have come in. Quote Link to comment Share on other sites More sharing options...
shull Posted May 15, 2014 Report Share Posted May 15, 2014 The Board giving Hay money to waste on Elliot, Reid, Charnley, Beattie and f*cking Baillie didnae help. Quote Link to comment Share on other sites More sharing options...
saintargyll Posted May 15, 2014 Report Share Posted May 15, 2014 Current board aint that stupid now we are very very blessed and should be proud Quote Link to comment Share on other sites More sharing options...
shull Posted May 15, 2014 Report Share Posted May 15, 2014 Current board aint that stupid now we are very very blessed and should be proud We are indeed very blessed and i'll say again ...... We should have .... THE STEWART GILMOUR MAIN STAND Quote Link to comment Share on other sites More sharing options...
saintargyll Posted May 15, 2014 Report Share Posted May 15, 2014 totally agree Shull Quote Link to comment Share on other sites More sharing options...
saintargyll Posted May 15, 2014 Report Share Posted May 15, 2014 im 50 and been a saints fan all my life...i should be given a lifetime free pass Quote Link to comment Share on other sites More sharing options...
Isle Of Bute Saint Posted May 15, 2014 Report Share Posted May 15, 2014 The problems go back to Lewis Kane, Fitzy's spending and the shareholders agreeing to extend the overdraft. I'm pretty sure I read that we were 800K in tbe black after the 87 Final, before Ferguson left. The spending got silly, competing with the OF for wages (fair enough pre-both having huge crowds weekly etc). Forward on a bit and George Campbell, I believe, controlled the takeover with Stewart Gilmour as his front man/chairman of choice. Mortgages, drawn down pensions, bank loans and underwritten share issues later we're now where we are. £1.5 million for St.Mirren, compared to the same for a non-league English side, is a bargain. I genuinely struggle to believe we've not been sold. But then, I know eff all about the majority of offers that have come in. The problems go back to Lewis Kane, Fitzy's spending and the shareholders agreeing to extend the overdraft. I'm pretty sure I read that we were 800K in tbe black after the 87 Final, before Ferguson left. The spending got silly, competing with the OF for wages (fair enough pre-both having huge crowds weekly etc). Forward on a bit and George Campbell, I believe, controlled the takeover with Stewart Gilmour as his front man/chairman of choice. Mortgages, drawn down pensions, bank loans and underwritten share issues later we're now where we are. £1.5 million for St.Mirren, compared to the same for a non-league English side, is a bargain. I genuinely struggle to believe we've not been sold. But then, I know eff all about the majority of offers that have come in. Can honestly say If the lottery came up in our house lets say £30 million would I think St Mirren would be a bargain at 1.5 million. Not really it would be one hell of a headache , who in their right mind would want to own a football club with it's demanding fans. However all is not lost would want a hospitality package for life and would gladly put 3 million to the club for it. But run the club never in a million years so I take my hat off to the current board. Quote Link to comment Share on other sites More sharing options...
shull Posted May 15, 2014 Report Share Posted May 15, 2014 We will never be sold because our present Board will not , quite rightly,sell to non Saints fans, i'm guessing. And all Saints Fans know the present Board are doing a magnificent job, so there is no need for any Saints Fan(s) to purchase the Club from them. So, to the current Board..... CARRY ON THE GREAT WORK !!! Quote Link to comment Share on other sites More sharing options...
Leicester Saint Posted May 21, 2014 Report Share Posted May 21, 2014 We are indeed very blessed and i'll say again ...... We should have .... THE STEWART GILMOUR MAIN STAND Bollocks. Quote Link to comment Share on other sites More sharing options...
Lord Pityme Posted May 21, 2014 Report Share Posted May 21, 2014 Can honestly say If the lottery came up in our house lets say £30 million would I think St Mirren would be a bargain at 1.5 million. Not really it would be one hell of a headache , who in their right mind would want to own a football club with it's demanding fans. However all is not lost would want a hospitality package for life and would gladly put 3 million to the club for it. But run the club never in a million years so I take my hat off to the current board. Ok so if you win the lottery put 3 million up front and i'll run club and guarantee to improve existing revenue steams by 100 percent. Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted May 21, 2014 Report Share Posted May 21, 2014 We will never be sold because our present Board will not , quite rightly,sell to non Saints fans, i'm guessing. And all Saints Fans know the present Board are doing a magnificent job, so there is no need for any Saints Fan(s) to purchase the Club from them. So, to the current Board..... CARRY ON THE GREAT WORK !!! The current board want out,want to sell, they value their 52percent at 1.25 million valuing the entire club at 2.5 million , ie the same value as hearts , hence no one is buying Motherwell are up for sale at 800k , ie for 52 per cent you only have to pay 400k Quote Link to comment Share on other sites More sharing options...
Lord Pityme Posted May 21, 2014 Report Share Posted May 21, 2014 The current board want out,want to sell, they value their 52percent at 1.25 million valuing the entire club at 2.5 million , ie the same value as hearts , hence no one is buying Motherwell are up for sale at 800k , ie for 52 per cent you only have to pay 400k I want the other 2.6m to fit out the void and a few other slinky ideas. Quote Link to comment Share on other sites More sharing options...
Leicester Saint Posted May 21, 2014 Report Share Posted May 21, 2014 The current board want out,want to sell, they value their 52percent at 1.25 million valuing the entire club at 2.5 million , ie the same value as hearts , hence no one is buying Motherwell are up for sale at 800k , ie for 52 per cent you only have to pay 400k Do the current owners want to make a profit for their 'investment'? A rich pension? Therein may lie the problem? However, if there's any stands needing named any time soon..... Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted May 21, 2014 Report Share Posted May 21, 2014 I want the other 2.6m to fit out the void and a few other slinky ideas. Slinky or kinky Quote Link to comment Share on other sites More sharing options...
Jimmy H Posted May 22, 2014 Report Share Posted May 22, 2014 I've seen mention in a few topics of the fact that our financial problems of the late 90s almost meant the Club going out of business, which is when the new board took over. I didn't realise that things were that bad at the time (to be honest my personal life was in a bit of a turmoil at the time as well as pending redundancy, having to move abroad for work), so football was a bit of an irrelevance. I'd like to get a better view of the events then, so can anyone give me some details on the events back then or point me in the direction of somewhere I can find them? Ask Stuart Dickson, he knew someone who worked in the Clydesdale Bank at the time. Quote Link to comment Share on other sites More sharing options...
bluto Posted May 22, 2014 Report Share Posted May 22, 2014 i'll run club and guarantee to improve existing revenue steams by 100 percent. The current board want out,want to sell, they value their 52percent at 1.25 million valuing the entire club at 2.5 million , ie the same value as hearts , hence no one is buying Motherwell are up for sale at 800k , ie for 52 per cent you only have to pay 400k I want the other 2.6m to fit out the void and a few other slinky ideas. Slinky or kinkyIt seems he wants to install Turkish-style baths in the void.So could be both slinky and kinky. I'm in! Quote Link to comment Share on other sites More sharing options...
Thorizaar Posted May 22, 2014 Report Share Posted May 22, 2014 The current board want out,want to sell, they value their 52percent at 1.25 million valuing the entire club at 2.5 million , ie the same value as hearts , hence no one is buying Motherwell are up for sale at 800k , ie for 52 per cent you only have to pay 400k Isn't the £800k a target the fans have been given to get by November on the way to an overall target of £1.5k? Quote Link to comment Share on other sites More sharing options...
Lord Pityme Posted May 22, 2014 Report Share Posted May 22, 2014 It seems he wants to install Turkish-style baths in the void. So could be both slinky and kinky. I'm in! Its got win-win written all over it... Whilst the cough, cough.... Patrons are enjoying their turkish bath we could get Penfold (AKA Rea) to do their washing in the steamie. Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted May 22, 2014 Report Share Posted May 22, 2014 (edited) The problems go back to Lewis Kane, Fitzy's spending and the shareholders agreeing to extend the overdraft. I'm pretty sure I read that we were 800K in tbe black after the 87 Final, before Ferguson left. The spending got silly, competing with the OF for wages (fair enough pre-both having huge crowds weekly etc). Forward on a bit and George Campbell, I believe, controlled the takeover with Stewart Gilmour as his front man/chairman of choice. Mortgages, drawn down pensions, bank loans and underwritten share issues later we're now where we are. £1.5 million for St.Mirren, compared to the same for a non-league English side, is a bargain. I genuinely struggle to believe we've not been sold. But then, I know eff all about the majority of offers that have come in. I think Fitzpatrick's reputation as a spendthrift manager is a bit unfair, sure he spent big but he got good money for guys like Cameron, Brian Hamilton & Winnie from the Cup winning team and decent money for other players like Chalmers & Walker - them was the times. Like shull says it was the money spent on Hay's revamping the squad which got relegated at a time when there was no parachute payment that was the start of the trouble. Do the current owners want to make a profit for their 'investment'? A rich pension? Therein may lie the problem? However, if there's any stands needing named any time soon..... At the sums currently being mentioned I'd be surprised if they even get their initial "investment" back. Edited May 22, 2014 by Bud the Baker Quote Link to comment Share on other sites More sharing options...
Luther G. Presley Posted May 22, 2014 Report Share Posted May 22, 2014 Do the current owners want to make a profit for their 'investment'? A rich pension? Therein may lie the problem? However, if there's any stands needing named any time soon.....Pretty sure they got their initial investment back with the sale of Love Street, so any money made from the sale of the club will be pure profit! Quote Link to comment Share on other sites More sharing options...
TsuMirren Posted May 22, 2014 Report Share Posted May 22, 2014 Pretty sure they got their initial investment back with the sale of Love Street, so any money made from the sale of the club will be pure profit! I've heard numerous tales from numerous sources, a few who I just assume as bitter. Never once heard that they got their initial investment back. Quote Link to comment Share on other sites More sharing options...
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