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Crowd Funding For St Mirren


basher1981
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When the attempts to re-write history stop... Aye.

I won't accept these puerile attempts suggesting saints fans were to blame for that clusterf**k.

Is this what this thread is all about ? Genuinely thought you wanted to debate if it is possible for us to try and gain control of the club raising funds.

Don't ever remember anyone criticizing the fans , disappointment that more did not take up the opertunity yes but that's all.

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Is this what this thread is all about ? Genuinely thought you wanted to debate if it is possible for us to try and gain control of the club raising funds.Don't ever remember anyone criticizing the fans , disappointment that more did not take up the opertunity yes but that's all.

I can debate the topic till the cows come home. But when someone imo posts crap then am i not allowed to counter it with indisputable fact?

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So my statement was correct?

The fans put up what was asked of them,

the shortfall on tabling a bid that would have been accepted, and the lack of any assurances as to how the ongoing cash flow deficit of 400 k each year would be managed was why it was turned down.

The club and the fans would have been saddled with an unserviceable debt.

Don't think there's any doubt the debt would have been an albatross round the fans' neck. But was the bid turned down because the 52 club were being greedy or was Stewart Gilmour well aware that the club would rapidly run up big debts and did not want to see it happen? Brewdog couldn't work as bud77 pointed out. Dilute the shareholding and the powerbase simply shifts. If the price is still £1-5m. then realistically fans would need to start Day1 with a further half million or so in the bank to stand any chance of success.

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Don't think there's any doubt the debt would have been an albatross round the fans' neck. But was the bid turned down because the 52 club were being greedy or was Stewart Gilmour well aware that the club would rapidly run up big debts and did not want to see it happen? Brewdog couldn't work as bud77 pointed out. Dilute the shareholding and the powerbase simply shifts. If the price is still £1-5m. then realistically fans would need to start Day1 with a further half million or so in the bank to stand any chance of success.

It was turned down because there was no viable plan put forward to manage the debt, and make good the expected approx400k shortfall each season.

Basically the consortium didn't want the support to be in debt to them with the chance the club would go into admin as a result.

The club will only be sold when someone puts up the asking price as capital not borrowings against club or fans.

You'll have heard a lot about the offer was turned down as the consortium wanted more than the 1.25 million offered. That is fundamentally incorrect

The consortium were rightly concerned it would crash and burn within a season.

Edited by Lord Pityme
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It was turned down because there was no viable plan put forward to manage the debt, and make good the expected approx400k shortfall each season.

Basically the consortium didn't want the support to be in debt to them with the chance the club would go into admin as a result.

The club will only be sold when someone puts up the asking price as capital not borrowings against club or fans.

You'll have heard a lot about the offer was turned down as the consortium wanted more than the 1.25 million offered. That is fundamentally incorrect

The consortium were rightly concerned it would crash and burn within a season.

Fundamentally you need to take a deep breath.

Re read what was said earlier they are the facts whether you like it or not.

What we tried did not work in the end. The offer was refused.

We made mistakes but we tried to do what we believed to be correct.

There is simply no £400k cash flow shortfall and a look at the company accounts would make that clear.

I should know as the actual cash flow issue in my two years was 100k per season I know this as I loaned the club the money for a few months to fill this gap. If you read the accounts you would see that or attend an agm where it was explained

I suggest you learn how to read a set of accounts and then by all means come back with some valid points.

Could it still work but in the form suggested by the OP yes it could but the whole issue is the need for a cash lump sum rather than cash flow over a number of years.

The fans demonstrated the ability to provide cash flow the issue was always that the lump sum pot for the initial transaction did not meet the seller's expectations

Edited by rea
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Fundamentally you need to take a deep breath.

Re read what was said earlier they are the facts whether you like it or not.

What we tried did not work in the end. The offer was refused.

We made mistakes but we tried to do what we believed to be correct.

There is simply no £400k cash flow shortfall and a look at the company accounts would make that clear.

I should know as the actual cash flow issue in my two years was 100k per season I know this as I loaned the club the money for a few months to fill this gap. If you read the accounts you would see that or attend an agm where it was explained

I suggest you learn how to read a set of accounts and then by all means come back with some valid points.

Could it still work but in the form suggested by the OP yes it could but the whole issue is the need for a cash lump sum rather than cash flow over a number of years.

The fans demonstrated the ability to provide cash flow the issue was always that the lump sum pot for the initial transaction did not meet the seller's expectations

Crucially the sellers did not believe the proposal could work. That is what stopped it in its tracks. We can a,ways ask SGG to state the consortium's decision again?

Each season after ST sales the club is looking to make up to 400k to meet the budgeted expense. And yes you identified where even after exhausting all revenue streams there was still a need for 100k cash injection to meet its financial obligations.

You can try and re-write it any which way, but truth is the sellers couldn't see how the club would be successful with no clear plan to manage debt and cash shortfalls. But at least as you state above you can see that now.

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Crucially the sellers did not believe the proposal could work. That is what stopped it in its tracks. We can a,ways ask SGG to state the consortium's decision again?

Each season after ST sales the club is looking to make up to 400k to meet the budgeted expense. And yes you identified where even after exhausting all revenue streams there was still a need for 100k cash injection to meet its financial obligations.

You can try and re-write it any which way, but truth is the sellers couldn't see how the club would be successful with no clear plan to manage debt and cash shortfalls. But at least as you state above you can see that now.

Your Lordship, it's totally fine to enter in to the world of creative writing for your posts, it's a fans forum after all, anyone with even a basic education knows to take all content with a pinch of salt. It's frustrating as the forum becomes a cesspit, however personally I've no great issue with posters spouting shyte, the onus is on the reader to filter. In truth that goes for the internet in general. Anyone who is gullible enough to swallow the written word hook, line and sinker has, I would imagine, got more to worry about in life.

The difference here is that you are clearly not content with your works of fiction, but rather want to debate the 'facts' with the one guy on this thread who, like it or not, actually knows what he is talking about. I wasn't convinced by the 10000 hours business model, I stand by that opinion to this day, however they gave it a good go.

Agree, disagree, whatever, but don't argue black is white with the guy with the colour chart, it's tedious. First rule of street fighting, know when to run.

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Your Lordship, it's totally fine to enter in to the world of creative writing for your posts, it's a fans forum after all, anyone with even a basic education knows to take all content with a pinch of salt. It's frustrating as the forum becomes a cesspit, however personally I've no great issue with posters spouting shyte, the onus is on the reader to filter. In truth that goes for the internet in general. Anyone who is gullible enough to swallow the written word hook, line and sinker has, I would imagine, got more to worry about in life.

The difference here is that you are clearly not content with your works of fiction, but rather want to debate the 'facts' with the one guy on this thread who, like it or not, actually knows what he is talking about. I wasn't convinced by the 10000 hours business model, I stand by that opinion to this day, however they gave it a good go.

Agree, disagree, whatever, but don't argue black is white with the guy with the colour chart, it's tedious. First rule of street fighting, know when to run.

You think he's wrong tae?

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A statement on the club's official website read: "After numerous proposals the consortium of majority shareholders in St Mirren Football Club Limited has decided that in the best interests of SMFC they are unable to accept the final offer from the 10000 Hours group.

"The longer this went on and with the numerous changes that were made to the proposals it appeared that most of the 10000 Hours' major backers seemed to be having doubts about the concept. I

"It became clear that it appeared to be becoming more difficult for the 10000 Hours board to come up with an appropriate offer which would have given confidence to the selling consortium that their proposals were sustainable.

"The consortium have always stressed and continue to stress that they will do their utmost to make sure that it is the right people who buy their shares in SMFC.

"The consortium's shares will continue to be available to the right person but until that happens they will continue to work with the rest of the board in the best interests of SMFC."

What can't talk can't lie....

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A statement on the club's official website read: "After numerous proposals the consortium of majority shareholders in St Mirren Football Club Limited has decided that in the best interests of SMFC they are unable to accept the final offer from the 10000 Hours group.

"The longer this went on and with the numerous changes that were made to the proposals it appeared that most of the 10000 Hours' major backers seemed to be having doubts about the concept. I

"It became clear that it appeared to be becoming more difficult for the 10000 Hours board to come up with an appropriate offer which would have given confidence to the selling consortium that their proposals were sustainable.

"The consortium have always stressed and continue to stress that they will do their utmost to make sure that it is the right people who buy their shares in SMFC.

"The consortium's shares will continue to be available to the right person but until that happens they will continue to work with the rest of the board in the best interests of SMFC."

What can't talk can't lie....

it was as it says about the amount of money that was offered.

£1.25m total deal was not sufficient.

glad you have at least dropped the nonsense about £400k cash flow shortages.

save the imagination stuff for your screenplays

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it was as it says about the amount of money that was offered.

£1.25m total deal was not sufficient.

glad you have at least dropped the nonsense about £400k cash flow shortages.

save the imagination stuff for your screenplays

You really are an odious individual. You come on here insinuating that the reason your proposal failed was because saints fans didn't back it.

But when presented with the truth from the consortium's statement that: "they had no confidence your proposal was sustainable" you resort to the troll/schoolboy tactics of name calling and trying to deny the truth.

Didn't we half dodge a bullet with you!

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