Secret Buyers/new Owners - Threads Merged

[Isle Of Bute Saint]

What the current BoD did in the early years of their tenure was little short of miraculous - sixteen years since they took control and with the enthusiasm to run the club in a hands-on fashion clearly long gone I'd say nothing is certain................

What exactly would you like to see happen ?

New owners come in with renewed enthusiasm having splashed out 2 million to do so. Do you seriously think that 2 million is not going to come back out the club one way or another because for sure it will.

That will be money that does not come out the club at the moment.

Any money coming out the club means less money for the team. That's the bottom line Bud.

Fully understand the board want to sell up but at least they are hard core St Mirren fans that counts for a lot over strangers paying 2 million for a club in the league that has no sponsors. In a league that's not even close to the best leagues in Europe. Does not make you wonder why Bud ? Why would anyone want to buy.

The way forward was the fan buy out and still is. Unfortunately many could not see that golden opportunity.

Be very careful what you wish for.

Edited November 5, 2014 by Isle Of Bute Saint

[Bud the Baker]

What exactly would you like to see happen ? That question is completely unrelated to my post.

New owners come in with renewed enthusiasm having splashed out 2 million to do so. Do you seriously think that 2 million is not going to come back out the club one way or another because for sure it will. Again I don't see That statement is completely unrelated to my post.

That will be money that does not come out the club at the moment. Ditto.

Any money coming out the club means less money for the team. That's the bottom line Bud. Ditto.

Fully understand the board want to sell up but at least they are hard core St Mirren fans that counts for a lot over strangers paying 2 million for a club in the league that has no sponsors. In a league that's not even close to the best leagues in Europe. Does not make you wonder why Bud ? Why would anyone want to buy. Ditto.

The way forward was the fan buy out and still is. Unfortunately many could not see that golden opportunity. Ditto.

Be very careful what you wish for. I'm totally baffled by this reference the The Tale Of The Monkey's Paw!

Erm totally baffled by your post - all I said was that just because the club remained Full Time last time we were relegated it's no guarantee we will do so should it happen again................

Edited November 5, 2014 by Bud the Baker

[a50lennyc]

it would help if you could use the quote facility correctly

show me whatever you like in 4 weeks, the only sale that matters to me has already taken place

[a50lennyc]

Duh?

That was the point I made.....we were told that Love St was holding us back commercially as well as cost to maintain.

As a club commercially we do not appear to have progressed since the move.

I personally have not said we could go part time or enter administration. SGG has during his tenure due to the harsh realities of Scottish football. Fact.

Thanks to the BoD we have survived where other clubs have cheated creditors like Dundee, Motherwell, Hearts, Gretna, Livingston, Dunfermline, and Oldco.

i would imagine that commercial income is up and maintenance costs down since we moved

[Isle Of Bute Saint]

I don't dispute the maintenance aspect. However gate receipts, hospitality and sponsorship has taken a hit since the financial crisis and loss of Sevco, Hibs and Hearts.

The loss of these three clubs is huge add in the away support of Ross County , ICT , Hamilton and you are looking at a major drop in income.

show me whatever you like in 4 weeks, the only sale that matters to me has already taken place

a50lennyc Making excuses already , or is it another way of saying No I don't know what's going on regarding the sale of the club.

[Isle Of Bute Saint]

Erm totally baffled by your post - all I said was that just because the club remained Full Time last time we were relegated it's no guarantee we will do so should it happen again................

Locked up in a confined space for the last six weeks doing 12 to 16 hour shifts with no day's off can do strange things to your head. So forgive me. Need to re-enter the atmosphere for some proper air to clear the head.

[Bud the Baker]

Locked up in a confined space for the last six weeks doing 12 to 16 hour shifts with no day's off can do strange things to your head. So forgive me. Need to re-enter the atmosphere for some proper air to clear the head.

Yeah I understand and sympathize - my view (as I said) is that were we to be relegated nothing could be guaranteed beyond the first season if we didn't bounce straight back up.

As to your other points - what do I want for the club, obviously a smooth transfer to new owners who will have more energy to devote to the clubs future. Again, obviously, I realize there are risks in this as new owners might gamble unwisely but thems the breaks. As for fan ownership I fear that boat has sailed for us - I was as excited as anyone as the number of fan pledges to 10000hours topped the thousand mark over that weekend but in the end the BoD felt that there were too many flaws in their overall bid, a view I shared although maybe not for the same reasons.

A big thanks will be due to Gilmour & his compadres if & when they do go - their tenure has not been faultless (over sixteen years I doubt that's even possible) but it's been pretty successful and I won't grudge them getting some (I doubt they'll get the lot) of their money back.

[billyg]

FWIW , they've had their money back already after the sale of LS. The sale of their shares will be profit !

[Bud the Baker]

FWIW , they've had their money back already after the sale of LS. The sale of their shares will be profit !

Not according to the independently audited Annual Financial reports which are made available to all shareholders.

As they own around 100,000 shares between them the bulk of which were purchased at £20 a pop during the second share issue in the late '90's IIRC then by my calculations it'll be a matter of how much they eventually lose.

Edited November 6, 2014 by Bud the Baker

[pod]

FWIW , they've had their money back already after the sale of LS. The sale of their shares will be profit !

If that was true, they would have taken the first offer on the table.

[Flareybob]

A consortium led by 2 local businessmen who originally withdrew a bid back in March have resubmitted a new bid., they are Scott Wilson and Will McDaid who run a business called MWBC (UK) LTD, there is also a sporting contingent in the consortium which includes a former player who plied his trade with St Johnstone, Dundee United and Hearts player as well a former director of Llandovery Rugby club.

Edited November 6, 2014 by Flareybob

[Edinbuddie]

A consortium led by 2 local businessmen who originally withdrew a bid back in March have resubmitted a new bid., they are Scott Wilson and Will McDaid who run a business called MWBC (UK) LTD, there is also a sporting contingent in the consortium which includes a former player who plied his trade with St Johnstone, Dundee United and Hearts player as well a former director of Llandovery Rugby club.

I hope Allan Preston isn't involved!

My insider (everyone's got someone in the know at the club!) tells me that Billy Clabby recently had a big lottery win, and is making moves behind the scenes to purchase the club. I hope he's not vengeful after his promised move to the club failed to materialise

Edited November 6, 2014 by Edinbuddie

[shull]

Non St Mirren people urnae welcome.

[saint in exile]

A consortium led by 2 local businessmen who originally withdrew a bid back in March have resubmitted a new bid., they are Scott Wilson and Will McDaid who run a business called MWBC (UK) LTD, there is also a sporting contingent in the consortium which includes a former player who plied his trade with St Johnstone, Dundee United and Hearts player as well a former director of Llandovery Rugby club.

Of course they have. Must be true, given your immaculate track record in 'exclusives'.

[shull]

I would maybe consider Ronnie McDonald.

He done good job at Maryhill Juniors and Clyde.

And what he has done at Hamilton is magnificent.

Although he was a Blue Vermin F.C. ( Deceased ) fan, I would accept him at Greenhill Road.

Edited November 6, 2014 by shull

[waldorf34]

A consortium led by 2 local businessmen who originally withdrew a bid back in March have resubmitted a new bid., they are Scott Wilson and Will McDaid who run a business called MWBC (UK) LTD, there is also a sporting contingent in the consortium which includes a former player who plied his trade with St Johnstone, Dundee United and Hearts player as well a former director of Llandovery Rugby aclub.

This company was closed down in 2019, their registered office was a council house in Feegie Park!

[Lord Pityme]

To be fair amongst all the posters on here claiming to have an insight, ear to the wall, mole on the ground, elephant in the room..... Flareybob has given the most consistent string of pish & shite between us all!

Long may it continue FBob..!

[pod]

Totally unrelated, but watching the football league show last Saturday a goalscorer popped up that Shull will be interested in - especially the time the goal was scored.....made me think back to a time when football was a completely different game to what it is now.

Mowatt 77.png

John Mowatt.

[whydowebother]

Totally unrelated, but watching the football league show last Saturday a goalscorer popped up that Shull will be interested in - especially the time the goal was scored.....made me think back to a time when football was a completely different game to what it is now.

Mowatt 77.png

Modern football is pish and as the seasons progress the standard in Scotland seems to get worse despite the advancements in training facilities.

Any small group of businessmen looking to purchase 75% of St Mirren FC Ltd must be aff their heid in the modern climate.

If they want to make money with a £2M investment then spread it across a variety of low cost index trackers.

That also caught my eye at the weekend !

The younger guys what even know who your on about , but us relatively young guys will

[buddiecat]

This company was closed down in 2019, their registered office was a council house in Feegie Park!

are you marty mcfly or doc brown

[shull]

Totally unrelated, but watching the football league show last Saturday a goalscorer popped up that Shull will be interested in - especially the time the goal was scored.....made me think back to a time when football was a completely different game to what it is now.

Mowatt 77.png

Modern football is pish and as the seasons progress the standard in Scotland seems to get worse despite the advancements in training facilities.

Any small group of businessmen looking to purchase 75% of St Mirren FC Ltd must be aff their heid in the modern climate.

If they want to make money with a £2M investment then spread it across a variety of low cost index trackers.

That's spooky

[buddiecat]

Not according to the independently audited Annual Financial reports which are made available to all shareholders.

As they own around 100,000 shares between them the bulk of which were purchased at £20 a pop during the second share issue in the late '90's IIRC then by my calculations it'll be a matter of how much they eventually lose.

how many shares were issued in that particular sale, are you saying they spent (on average) close to £400k each on buying those shares in the late 90's.

Edited November 6, 2014 by buddiecat

[pod]

are you marty mcfly or doc brown

[Bud the Baker]

how many shares were issued in that particular sale, are you saying they spent (on average) close to £400k each on buying those shares in the late 90's.

or is it that a couple of them borrowed the money to buy most of the shares in a special issue and that was the money paid back to them when tesco bought the old ground ?

I have no detailed knowledge of how many shares each individual director purchased in the second share issue in the '90's (like I said my paperwork from that era is long gone) just that they underwrote the issue and were obliged to buy a substantial number of the shares issued at the time as the promises from fans was not met.

If you're referring to money paid to Camscott the company formed by the BoD after the sale of Love Street this is a separate issue - Camscott was formed to take over the debt the club owed to Barr Construction, it was impossible for the club to repay this debt and meet the costs involved in the two planning applications required for the ground move. I no longer have my copies of the Financial Reports for this period but to repeat myself according to these reports no money was made by any of the Directors from the sale of the ground.

*****************************

This list was posted a few years ago and is where I base my knowledge of how many shares each member of the consortium (names in bold) owns - remember not all of these shares would have been bought in the share issue of 1998 although like I said IMO the bulk would have been.

Here are the top 10 shareholders in St.Mirren Football Club;

MR GEORGE CAMPBELL, 25,593 ORDINARY GBP 0.50

STEWART GEORGE GILMOUR, 24,259 ORDINARY GBP 0.50

BRYAN ALLAN MCAUSLAND, 17,923 ORDINARY GBP 0.50

KENNETH DRUMMOND MCGEOCH,17,154 ORDINARY GBP 0.50

GORDON ROBERT LAIDLAW SCOTT, 15,224 ORDINARY GBP 0.50

MRS EVELYN PURVES, 12,842 ORDINARY GBP 0.50

ALLAN MCAUSLAND, 10,000 ORDINARY GBP 0.50

ALLAN WALKER MARSHALL, 7,670 ORDINARY GBP 0.50

W.W. WATERS, 6,933 ORDINARY GBP 0.50

1877 SOCIETY, 3,877 ORDINARY GBP 0.50

Between them the Consortium own just over 88,000 shares (which I guess must be 52% of those issued) not all of which would have been purchased at the 1998 share issue but it wouldn't surprise me if they had to find substantial sums to underwrite that issue although not quite the £400k each you suggest.

*******************

PS - Ken McGeoch was a Director in 1998 and presumably would also have been party to underwriting the share at the time.

Edited November 7, 2014 by Bud the Baker

[Mid Calder Saint]

Promises to be an interesting AGM on 26th instant. All things considered.