Jump to content

buddiecat

Buy The Buds

Recommended Posts


Need to keep on at Gordon for the ground to be maintained and look at funding the upkeep of the stadium, Gordon will have plans for it i'm sure.

Like Foundation of Hearts I would expect there should be a contract between the two parties. In there case Bidco and Fanco

If the relationship responsibilities and future is not well understood at the start it is a recipe for issues than can easily be avoided at the start and with some attention to detail now.

Potential members and those already joined should have visibility of the deal and the terms if transparency is a priority and as you say spending on upkeep should be a clause...no point in SMiSA buying a majority after 10years for a price agreed now if no money is invested as needed in the interim period.

What this will mean however is that the Club will need to run an accounting surplus and not just a cash one.

Share this post


Link to post
Share on other sites

That's what I was led to believe as well but reading through the constitution I noticed this.

12. The Society Board will decide and issue a form of application for membership. Members are to pay an annual subscription of such reasonable sum as the Society Board shall decide, the first payment to be made at the time of application for membership. The sum of £1 from the first payment shall be applied to purchase an ordinary share in the Society.

I cant see anywhere that its the members that decide/vote on.

This is correct and is this way for all trusts however as it is a members organisation if the members don't like what the board do they can easily replace them

Share this post


Link to post
Share on other sites

This is correct and is this way for all trusts however as it is a members organisation if the members don't like what the board do they can easily replace them

Don't tell him that Richard, he'll be voting me out next AGM.

Share this post


Link to post
Share on other sites

Relax BC, not a member YET. whistling.gif

Just trying to look at the future after we/us/who knows have paid the 10 years of £12 monthly installments.

If somehow some folk who turn out not to be working in the best interests of all, hike up the amount that's needed to be members to a level that only a few of them can afford. They could take control of the shareholding that SMiSA holds. Leaving those that have paid in for all those years with SFA.

Possibly an extreme example but is a possibility if I've read the constitution correctly.

Members can call a special general meeting (SGM), and the majority vote at the meeting will prevail. I am not a legal eagle by any means, but i can assure you that I for one would not hesitate to inform members and call an SGM if anything gave me cause for concern, that said i have complete confidence in the existing board members of SMiSA and trust them not to do anything untoward. I would even go as far as stating the current board, should they wish to, should be the ones to see out the entire 10 years of the process. Just my opinion based on spending over a year with them at meetings, sometimes twice a week in that year.

Share this post


Link to post
Share on other sites

Relax BC, not a member YET. whistling.gif

Just trying to look at the future after we/us/who knows have paid the 10 years of £12 monthly installments.

If somehow some folk who turn out not to be working in the best interests of all, hike up the amount that's needed to be members to a level that only a few of them can afford. They could take control of the shareholding that SMiSA holds. Leaving those that have paid in for all those years with SFA.

Possibly an extreme example but is a possibility if I've read the constitution correctly.

Two quick points:

1 - The trust is one member one vote - the membership fee is decided by the membership - so the scenario you describe could only happen if the members voted for it.

2 - the constitution of the trust (and I believe a condition of being part of SD) is that membership has to be 'affordable' and open to all. Whilst this is a bit subjective, ultimately it would protect against the situation you describe.

Share this post


Link to post
Share on other sites

Two quick points:

1 - The trust is one member one vote - the membership fee is decided by the membership - so the scenario you describe could only happen if the members voted for it.

2 - the constitution of the trust (and I believe a condition of being part of SD) is that membership has to be 'affordable' and open to all. Whilst this is a bit subjective, ultimately it would protect against the situation you describe.

The first point is not technically correct. The board decide but obviously the membership decide the board.

Not a condition of SD membership as such but is a condition of being a trust either a CBS or IPS which then allows you membership of SD .

Share this post


Link to post
Share on other sites

I agree with the above concern. You commit to 10 years and get nothing in return

If your looking for something in return, the answer is you have your club in the hands of the people who care most about it's continued survival. SMiSA is a not for profit trust and if it were to somehow fold then all funds have to be given to a similar community benefit trust (Could be another SMFC fans trust that sets up) or a charity.

Quite simply you don't sign up to something like this and expect to walk away with anything other than the satisfaction and pride that you were part of it all. Hopefully you never choose walk away from it at all, without good reason.

Share this post


Link to post
Share on other sites

That's a hard one but I think a minimum would a 5 shares that way you literally own the club. But the bulk of shares will be owned by SMISA

It would be a token amount but not enough to affect the running of the bid aims and goals

For 2500 you get 10 shares. So for £1400 you 5 and if after 10 years you stop or walk away you have something to show for your commitment

Share this post


Link to post
Share on other sites

HSS, apologies, for delay, i am checking this out right now

David got back to me not long after this so cheers for that.

Again my point is.....a missed e-mail could be a missed £12.People who were maybe swithering about joining and wouldn't bother because they've not had a reply to a mail.

Anyway.....keep up the good work.

Share this post


Link to post
Share on other sites

What, exactly, do you want in return?

Me personally, I don't want anything. All I want is to play my part in giving the club I love to the people who I hope will always keep its best interests at heart. I already have my 10 shares, my brick in the wall and will more than likely still be a season ticket holder in 10 years. For me doing my bit is enough.

However I was talking to my brother about it a couple of weeks ago. He is a saints fan but isn't a share holder and doesn't go week in week out. A tenner a month wouldn't be a struggle for him but I found it hard to explain to him why he would want to do it, even though I'm a believer that it is a great way forward.

Some sort of recognition may encourage some people. For example if you pay £12 per month for 10 years you become and honoury member? Or you get a name on a board or in a book in the stadium as a someone who helped bring the club to the people. Maybe a I bought the buds certificate or something.

I know things like these cost money but it gives people (who aren't as close to the club or SMISA) a feeling that they are buying into something.

The guys who signed up for the bar, get their names on a board, they get a private drinking bar and a parking space, yet guys joining SMISA could help put the club into a safe ownership but get no credit for it. As I say safe ownership is enough for me but might not be enough for some others to part with their cash.

Share this post


Link to post
Share on other sites

Me personally, I don't want anything. All I want is to play my part in giving the club I love to the people who I hope will always keep its best interests at heart. I already have my 10 shares, my brick in the wall and will more than likely still be a season ticket holder in 10 years. For me doing my bit is enough.

However I was talking to my brother about it a couple of weeks ago. He is a saints fan but isn't a share holder and doesn't go week in week out. A tenner a month wouldn't be a struggle for him but I found it hard to explain to him why he would want to do it, even though I'm a believer that it is a great way forward.

Some sort of recognition may encourage some people. For example if you pay £12 per month for 10 years you become and honoury member? Or you get a name on a board or in a book in the stadium as a someone who helped bring the club to the people. Maybe a I bought the buds certificate or something.

I know things like these cost money but it gives people (who aren't as close to the club or SMISA) a feeling that they are buying into something.

The guys who signed up for the bar, get their names on a board, they get a private drinking bar and a parking space, yet guys joining SMISA could help put the club into a safe ownership but get no credit for it. As I say safe ownership is enough for me but might not be enough for some others to part with their cash.

Good post

Share this post


Link to post
Share on other sites

The first point is not technically correct. The board decide but obviously the membership decide the board.

Not a condition of SD membership as such but is a condition of being a trust either a CBS or IPS which then allows you membership of SD .

Well it depends how you interpret the wording. The board sets the subscription rate and a change to that rate is (arguably) a change to the society's rules - although I get where you are coming from. And as you point out - if the members are unhappy at the decision, they can easily vote to replace the board.

The second point is really more crucial - ultimately if 'future smisa board' decided to set the membership fee at a rate that was deliberately prohibitive, they would be in breach of their own rules, the spirit of SD more importantly, the laws governing CBSs.

I think we agree - its pretty unlikely.

Edited by BLF

Share this post


Link to post
Share on other sites

Me personally, I don't want anything. All I want is to play my part in giving the club I love to the people who I hope will always keep its best interests at heart. I already have my 10 shares, my brick in the wall and will more than likely still be a season ticket holder in 10 years. For me doing my bit is enough.

However I was talking to my brother about it a couple of weeks ago. He is a saints fan but isn't a share holder and doesn't go week in week out. A tenner a month wouldn't be a struggle for him but I found it hard to explain to him why he would want to do it, even though I'm a believer that it is a great way forward.

Some sort of recognition may encourage some people. For example if you pay £12 per month for 10 years you become and honoury member? Or you get a name on a board or in a book in the stadium as a someone who helped bring the club to the people. Maybe a I bought the buds certificate or something.

I know things like these cost money but it gives people (who aren't as close to the club or SMISA) a feeling that they are buying into something.

The guys who signed up for the bar, get their names on a board, they get a private drinking bar and a parking space, yet guys joining SMISA could help put the club into a safe ownership but get no credit for it. As I say safe ownership is enough for me but might not be enough for some others to part with their cash.

The Smisa website says there will be some form of recognition in the main stand for the fans who back the bid.

Share this post


Link to post
Share on other sites

Also what is the scope for people who are backing it through their businesses to be recognised. Tam on here said he has a hairdressers and someone said well that would be 1000 new customers but will there be a publication whether a magazine or an email telling us all where his shop is?

I would be delighted to use other buddies businesses but how do we learn about them?

Share this post


Link to post
Share on other sites

To be fair I did read that but I thought it was just a copy of the bricks on the main stand idea.

If its going to be inside then what happens if you are west stand customer or if you are doing it on behalf of a late partner will never get a chance to see a members board

I get the feeling there is a missed opportunity that would persuade the maybes to a yes and the NO to a maybe to get closer to the number required

Share this post


Link to post
Share on other sites

To be fair I did read that but I thought it was just a copy of the bricks on the main stand idea.

If its going to be inside then what happens if you are west stand customer or if you are doing it on behalf of a late partner will never get a chance to see a members board

I get the feeling there is a missed opportunity that would persuade the maybes to a yes and the NO to a maybe to get closer to the number required

Care just has to be taken to recognize the separate legal entities that are involved.

The Club is owned by its shareholders.

It just so happens that one of those shareholders will also be a company SMISA owned by its fan members, but despite them (hopefully) owning the majority they are simply a shareholder like any of the other IIRC 900 shareholders and so the Company (which is the Club) needs to be careful not to do anything that treats one shareholder differently than another, no matter how justified it might be in terms of promoting a FO bid....equally the bidder needs to be careful not to appear to be offering (as a result of its shareholding) any assets of the Club to just itself and by default its members as a result of a potentially majority shareholding position.

Share this post


Link to post
Share on other sites

Good to see so many questions coming out from fellow buds re Smisa & GLS bid. Would be great if these and many more are brought up at the public meeting 19 May in the hospitality suite for Smisa & Gordon to answer directly, alternatively Smisa/Gordon will be inviting questions from those who cannot attend to be put to the bid team on the night.

The meeting is being streamed live, as well as recorded so as many buds as possible can be involved.

Remember as a Smisa member its your ideas that count and make the difference! Its easy to look round for others to think of, and suggest everything. But as a Smisa member you have a genuine reponsibilty to do the right thing for the club and the trust. If younwant to know who has the real influence in this bid..? Look in the mirror bud!

Direct you're questions to Smisa & GLS if you want the full and correct answer, avoid others agendas.

Share this post


Link to post
Share on other sites

Good to see so many questions coming out from fellow buds re Smisa & GLS bid. Would be great if these and many more are brought up at the public meeting 19 May in the hospitality suite for Smisa & Gordon to answer directly, alternatively Smisa/Gordon will be inviting questions from those who cannot attend to be put to the bid team on the night.

The meeting is being streamed live, as well as recorded so as many buds as possible can be involved.

Remember as a Smisa member its your ideas that count and make the difference! Its easy to look round for others to think of, and suggest everything. But as a Smisa member you have a genuine reponsibilty to do the right thing for the club and the trust. If younwant to know who has the real influence in this bid..? Look in the mirror bud!

Direct you're questions to Smisa & GLS if you want the full and correct answer, avoid others agendas.

What's your position within SMISA LP?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...