Jump to content

buddiecat

Buy The Buds

Recommended Posts


The best method of getting more people to join the party is word of mouth!

We can do so much to get more people to sign up than a media piece ever can. If we believe in it, then that passion will come through and convice others!

Tell 10 to tell 10 to tell 10........

Share this post


Link to post
Share on other sites

I think a hyped media press event with the likes of Brookmyre and/or Henshall is required. Standard stuff. Make it into as much of a circus as possible, and extend invites far and wide.

The concern must be that as times passes, uptake will tail off. A real sense of urgency must be injected.

I'm not suggesting that these things haven't been considered or aren't pending, but we need to be bombarding anyone who might be remotely interested with information and the urgent requirement to act.

Edited by Drew

Share this post


Link to post
Share on other sites

Dougie Henshall & Chris Brookmyre , also few ex players retweeted support ... probably our most famous sign up so far...

I agree word of mouth is key , tell everyone and anyone who has a St Mirren connection! hopefully with a big Away support on Saturday this can help momentum and get us over 500 mark over the weekend

Share this post


Link to post
Share on other sites

I've been pushing this all week on the B&W Army twitter feed and today I've started a poll on the twitter feed and pinned it asking fans if they are joining the bid.

I'm going to do the same poll options here on the site to see what response we get.

Share this post


Link to post
Share on other sites

I'm correct in saying that this bid proposes putting a charge on St Mirren Park?

Yes only for the additional SMISA loan , Gordon and George addressed this at the meeting and were keen to point out this is normal practice and nothing to be concerned about ......

"We expect that a condition of the loan will be that the lender has security over the stadium, which Gordon is willing to grant on our behalf. We have been advised there is no reason to be concerned by this - in a sense it’s a bit like getting a mortgage and granting security over your house. You wouldn’t take out a loan you weren’t comfortable paying back, and neither will we. Also, if the lender has security over the stadium, it means nobody else could borrow against it or make a claim on it."

Edited by gazmc83

Share this post


Link to post
Share on other sites

Tell 10 to tell 10 to tell 10........

I've been pushing this all week on the B&W Army twitter feed and today I've started a poll on the twitter feed and pinned it asking fans if they are joining the bid.

I'm going to do the same poll options here on the site to see what response we get.

Could this be the 'Black & White Sign Up Army Anthem'........ The lad is dressed in the beautiful black & white.

http://youtu.be/pU9JAvZGaIg

Edited by Lord Pityme

Share this post


Link to post
Share on other sites

"We expect that a condition of the loan will be that the lender has security over the stadium, which Gordon is willing to grant on our behalf. We have been advised there is no reason to be concerned by this - in a sense it’s a bit like getting a mortgage and granting security over your house. You wouldn’t take out a loan you weren’t comfortable paying back, and neither will we. Also, if the lender has security over the stadium, it means nobody else could borrow against it or make a claim on it."

Thanks, that's me out. That's a huge red flag.

We currently own our stadium outright. Without wanting to sound like Bomber Brown, we have the title deeds. Under this proposal we will give those up. That's a very slippery slope to go down, especially with a club with such an irregular and unpredictable income as ours. And as anyone with a mortgage will know, they aren't easy to get rid of. Particularly with interest rates set to rise in the near future.

I wish those involved all the best but personally I could never support a bid that involves giving up outright ownership of the clubs assets.

Share this post


Link to post
Share on other sites

Thanks, that's me out. That's a huge red flag.

We currently own our stadium outright. Without wanting to sound like Bomber Brown, we have the title deeds. Under this proposal we will give those up. That's a very slippery slope to go down, especially with a club with such an irregular and unpredictable income as ours. And as anyone with a mortgage will know, they aren't easy to get rid of. Particularly with interest rates set to rise in the near future.

I wish those involved all the best but personally I could never support a bid that involves giving up outright ownership of the clubs assets.

Who owns the stadium outright?

Oh, and there is the less than small matter of who will own it if this bid fails and another is successful.

Sorry, but I think your reasoning is flawed, here. The security will be approx £350K, unless I'm very much mistaken. Against a stadium valued at significantly more than that, the risk isn't prohibitive.

How else would you propose the loan should be secured?

Edited by Drew

Share this post


Link to post
Share on other sites

Thanks, that's me out. That's a huge red flag.

We currently own our stadium outright. Without wanting to sound like Bomber Brown, we have the title deeds. Under this proposal we will give those up. That's a very slippery slope to go down, especially with a club with such an irregular and unpredictable income as ours. And as anyone with a mortgage will know, they aren't easy to get rid of. Particularly with interest rates set to rise in the near future.

I wish those involved all the best but personally I could never support a bid that involves giving up outright ownership of the clubs assets.

Approx £350k charge on an asset valued at over £9million......

Of course if you Have a better way of raising the funds I am sure Smisa are all ears!

Share this post


Link to post
Share on other sites

Who owns the stadium outright?

Oh, and there is the less than small matter of who will own it if this bid fails and another is successful.

Completely agree. A new owner can come in and borrow against the stadium, and maybe a whole lot more than 350k. He could do whatever he liked with the money, including paying himself back the money he spent buying the club. But somehow that wouldn't be as bad as the fans being responsible for the debt?

Share this post


Link to post
Share on other sites

Who owns the stadium outright?

Oh, and there is the less than small matter of who will own it if this bid fails and another is successful.

Sorry, but I think your reasoning is flawed, here. The security will be approx £350K, unless I'm very much mistaken. Against a stadium valued at significantly more than that, the risk is prohibitive.

How else would you propose the loan should be secured?

Well the club owns it. I would hope that any successful bid would mean the club retains ownership. Any charge on any property is a risk. If we default on payments for whatever reason, the stadium is at risk.

I obviously rather that no loan was required, or if it was, it was taken out by the person or persons involved and involved security on assets which weren't the clubs.

I also think this ' rival bids waiting in the wings' rhetoric is a bit... A bit off. We have been for sale for what, 7 years. If there were people queuing up to buy us we wouldn't still be for sale.

Share this post


Link to post
Share on other sites

Thanks, that's me out. That's a huge red flag.

We currently own our stadium outright. Without wanting to sound like Bomber Brown, we have the title deeds. Under this proposal we will give those up. That's a very slippery slope to go down, especially with a club with such an irregular and unpredictable income as ours. And as anyone with a mortgage will know, they aren't easy to get rid of. Particularly with interest rates set to rise in the near future.

I wish those involved all the best but personally I could never support a bid that involves giving up outright ownership of the clubs assets.

I actually think that having the floating charge over the stadium is GOOD thing.

Think of it this way. The loan that SMiSA are taking out is for around £360K.

If 1000 members all pay £12 a month, of which £10 goes towards the loan repayments, then we'll be paying £10,000 a month in repayments. If the loan was interest free (which I am sure it won't be) then it would be repaid in 3 years. With interest it will be a wee bit longer.

Now, the main criticisim anyone has of a fans monthly membership direct debit scheme is that fans get pissed off after a while and cancel their direct debits.

Can you really imagine a scenario where hundreds of fans would deliberately cancel their direct debits knowing that it placed the very future of the club at severe risk?

Similarly even if that very unlikely scenario unfolded do you also think someone who has just pitched in £600K of his own cash would sit back and allow the stadium asset to be taken?

And finally, I am sure the lender would be quite happy to extend the loan period rather than try and realise the value of a football stadium that is worth next to nothing unless it's used as a football stadium. The land it's built on is worth next to nothing!

I think the risk here is miniscule and unfortunately no lender is going to pitch in £360K unless it's secured somehow.

For the sake of a period of a wee bit more than 3 years it's a small risk that's worth taking IMHO.

I'd still really like to know who the lender is though.

Share this post


Link to post
Share on other sites

Well the club owns it. I would hope that any successful bid would mean the club retains ownership. Any charge on any property is a risk. If we default on payments for whatever reason, the stadium is at risk.

I obviously rather that no loan was required, or if it was, it was taken out by the person or persons involved and involved security on assets which weren't the clubs.

I also think this ' rival bids waiting in the wings' rhetoric is a bit... A bit off. We have been for sale for what, 7 years. If there were people queuing up to buy us we wouldn't still be for sale.

The club owns it? Who owns the club?

Share this post


Link to post
Share on other sites

Completely agree. A new owner can come in and borrow against the stadium, and maybe a whole lot more than 350k. He could do whatever he liked with the money, including paying himself back the money he spent buying the club. But somehow that wouldn't be as bad as the fans being responsible for the debt?

only the company can borrow against the stadium not the board of directors, and no one can do whatever they like as the company lending it to them would attach usage terms.

on the other hand the Fan are not responsible for the debt as such the Company is

Share this post


Link to post
Share on other sites

Well the club owns it. I would hope that any successful bid would mean the club retains ownership. Any charge on any property is a risk. If we default on payments for whatever reason, the stadium is at risk.

I obviously rather that no loan was required, or if it was, it was taken out by the person or persons involved and involved security on assets which weren't the clubs.

I also think this ' rival bids waiting in the wings' rhetoric is a bit... A bit off. We have been for sale for what, 7 years. If there were people queuing up to buy us we wouldn't still be for sale.

The other bids are very real

Share this post


Link to post
Share on other sites

The other bids are very real

It would be a brave buyer who charged in and bumped a fan led bid out the way to get control.

Would put them on the back foot right from day one. Not a great position to start from.

If SMiSA come up short then fair enough, then we know the appetite isn't there and we roll the dice.

With all due respect to the 10000Hours bid, if that one got 1300 fans signing up given all it's false starts and difficult to understand nature then this one should really get the same, if not more.

I'll be really disappointed if this bid doesn't make it to 1000 and I'll be disgusted if it does and it still isn't accepted!

Other groups have had SEVEN YEARS to sort out a bid.

Share this post


Link to post
Share on other sites

It would be a brave buyer who charged in and bumped a fan led bid out the way to get control.

Would put them on the back foot right from day one. Not a great position to start from.

If SMiSA come up short then fair enough, then we know the appetite isn't there and we roll the dice.

With all due respect to the 10000Hours bid, if that one got 1300 fans signing up given all it's false starts and difficult to understand nature then this one should really get the same, if not more.

I'll be really disappointed if this bid doesn't make it to 1000 and I'll be disgusted if it does and it still isn't accepted!

Other groups have had SEVEN YEARS to sort out a bid.

indeed, i cannot see any other bid break cover before end of May which is SMISA deadline (have they paid for exclusivity yet?)

I personally dont think this is more or less difficult to understand, (a stand alone organisation is selling different categories of membership to buy a bunch of shares for fans to control on OMOV)

in the final analysis the actual offer to the consortium is virtual the same except price but there are some very key differences so will be interesting to see what happens next.

As far as other groups having 7 years the difference now is the valuation and the league the Club is in, it is now a very different market and proposition

Edited by rea

Share this post


Link to post
Share on other sites

Well the club owns it. I would hope that any successful bid would mean the club retains ownership. Any charge on any property is a risk. If we default on payments for whatever reason, the stadium is at risk.

I obviously rather that no loan was required, or if it was, it was taken out by the person or persons involved and involved security on assets which weren't the clubs.

I also think this ' rival bids waiting in the wings' rhetoric is a bit... A bit off. We have been for sale for what, 7 years. If there were people queuing up to buy us we wouldn't still be for sale.

Your last point I agree with which is EXACTLY why we as fans need to get behind this , as you say the club has been for sale for too long and the is the ONLY bid on the table and the club needs desperate new blood , the current BOD are now tired and lacking any new ideas so need out as they are now bringing the whole club down.

As explained by others this is low risk and the stadium has been valued at around 9.8 million this was mentioned at the meeting

Share this post


Link to post
Share on other sites

indeed, i cannot see any other bid break cover before end of May which is SMISA deadline (have they paid for exclusivity yet?)

I personally dont think this is more or less difficult to understand, (a stand alone organisation is selling different categories of membership to buy a bunch of shares for fans to control on OMOV)

in the final analysis the actual offer to the consortium is virtual the same except price but there are some very key differences so will be interesting to see what happens next.

As far as other groups having 7 years the difference now is the valuation and the league the Club is in, it is not a very different market and proposition

Unfortunately they can't pay the 100k for exclusivity until we have the 1000 members signed up

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...