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Smisa & Gordon Scott Submit Bid


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£1.2m for a 68% shareholding would value the club at a total of £1.764m if I've understood things right. I'm not sure how good a deal that is for a business that hasn't returned any significant operating profit in any of the last 16 years, or a business where the current owners have a stated belief that the business model is only viable with Celtic and "Rangers" playing in the Scottish Leagues.

Regardless - I'm in, and I just hope that Gordon Scott and SMiSA can deliver the kind of socially responsible, community focused football club that everyone in Renfrewshire can be proud of.

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Apologies if this is a daft question, but would I have to pay the £12 on top of my current £10 p/m SMiSA sub?

ETA:

http://www.smisa.net/news-archive/188-sgm-mar16

As suspected, it doesn't look like it.

As others said, the £12 is split... £10 towards the purchase of the shares, and the £2 to SMiSA for investment as decided by the membship.

If already paying £10 then I guess the options would be up it to £12... ... or £20 if feeling generous and wanting to continue investing at a higher level in SMiSA whilst buying the shares.

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£1.2m for a 68% shareholding would value the club at a total of £1.764m if I've understood things right. I'm not sure how good a deal that is for a business that hasn't returned any significant operating profit in any of the last 16 years, or a business where the current owners have a stated belief that the business model is only viable with Celtic and "Rangers" playing in the Scottish Leagues.

Regardless - I'm in, and I just hope that Gordon Scott and SMiSA can deliver the kind of socially responsible, community focused football club that everyone in Renfrewshire can be proud of.

It is under a million Stuart.

Not sure who quoted 1.2 millions.

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£1.2m for a 68% shareholding would value the club at a total of £1.764m if I've understood things right. I'm not sure how good a deal that is for a business that hasn't returned any significant operating profit in any of the last 16 years, or a business where the current owners have a stated belief that the business model is only viable with Celtic and "Rangers" playing in the Scottish Leagues.

Regardless - I'm in, and I just hope that Gordon Scott and SMiSA can deliver the kind of socially responsible, community focused football club that everyone in Renfrewshire can be proud of.

It's not £1.2m and any money raised will go to make the club better in a football and community sense, it is about making money not profit, as the money will be spent to achieve the ambitions, firstly though i would expect the club to become more successful than of late and build on that year on year, it really is up to the fans to subscribe to it, if you are a member then you can raise your subscription to £12 or if already paying more then that's great, also there is no upper limit to how much new members can subscribe.

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Not yet, just that it will be from ethical lenders, we needed the approval from members tonight to take it to the lawyers and the lender.

but do they know who they are approaching, and have had tentative talks already, or has no body been spoken to in the lending sector yet at all?

to put it another way are there names in the frame for this lending already or not?

Edited by rea
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£10 per month, 12 months per year, 1000 members, 10 years = £1.2m. I know my sums can be ropey but I don't think I've got that one wrong.

That might be how much is raised and if so all the better for the club as there will be excess to invest, but I can assure you the sale price is under a million... Half the original asking price.

Excellent negotiations by SMiSA and GLS.

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That might be how much is raised and if so all the better for the club as there will be excess to invest, but I can assure you the sale price is under a million... Half the original asking price.

Excellent negotiations by SMiSA and GLS.

was the price named?

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but do they know who they are approaching, and have had tentative talks already, or has no body been spoken to in the lending sector yet at all?

to put it another way are there names in the frame for this lending already or not?

None that were shared but I would be surprised and disappointed if preparatory work wasn't at an advanced stage.

"Ethical lenders" were all we were told and at this stage, that is good enough for me.

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£10 per month, 12 months per year, 1000 members, 10 years = £1.2m. I know my sums can be ropey but I don't think I've got that one wrong.

£10 of the £12 is going towards the buying of the shares, £2 is going towards continuing to fund SMiSA initiatives.

So over the course of the 10 years total raised by the fans would be £1m which I believe is £960K for the shares plus £40K to cover the £20K of legal costs plus the £20K of SMiSA funds that are being put down as a deposit. Or something like that anyway.

Cost is just under £1 million and that has been verified by Supporters Direct as being a fair and reasonable price to pay.

That's what I am taking from the SMiSA website statement anyway.

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but do they know who they are approaching, and have had tentative talks already, or has no body been spoken to in the lending sector yet at all?

to put it another way are there names in the frame for this lending already or not?

Not party to this info, it is still with the SMiSA group who have done all the negotiations, they have spoken to many financial groups is all i know.

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£10 of the £12 is going towards the buying of the shares, £2 is going towards continuing to fund SMiSA initiatives.

So over the course of the 10 years total raised by the fans would be £1m which I believe is £960K for the shares plus £40K to cover the £20K of legal costs plus the £20K of SMiSA funds that are being put down as a deposit. Or something like that anyway.

Cost is just under £1 million and that has been verified by Supporters Direct as being a fair and reasonable price to pay.

That's what I am taking from the SMiSA website statement anyway.

Almost right, but the legal costs are not subject to being repaid AFAIK and the deposit is just that - a deposit which will be returned to SMiSA funds that £40k total is not part of the cost to be paid and is not being recouped from new members or old ones like me.

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It's a lot of money to borrow still. A lender dishing out £400K to a bunch of football fans is going to need some sort of security or guarantee over that loan.

Obviously still to be confirmed who it is and how the loan is structured but that's the detail I think we all need to understand.

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