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My Wife laughs every month when The Bank Statement comes in and even she can't believe that I'm contributing so GS gets his " wee ba " To play with but if she gets a laugh at me fair enough she spends plenty getting her hair done and make up and she's still ugly !


Are you sure that's why she's laughing at you.?
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45 minutes ago, Loyal Supporter said:

That's exactly my point GS has put in nothing he's possibly borrowed funds to put in but he himself has put in nothing . If it all works out then great but he will require an injection of funds very soon just wait and see . Why is everyone defending a guy who is obviously only a good salesman as he sold his package to the subscribers ( of which I'm 1 of them ) . He will need to sell Mallon soon and even at that because of the results his value is dropping by the week . The business side of The Club is a mess . On the playing side as I pointed out the smart move would have been to keep Alex Rae in place until the end of the season then brought in a new manager . Ok I accept that Rae didn't play open attacking nice to whatch stuff but he would for certain have kept us up in this division . However GS made the decision and brought in Jack Ross who I personally think has got the team playing a better style and long term will be better than Rae but there is now a risk of relegation . GS made this decision to try and " win over " supporters It has to be agreed that his timing was very wrong . Please do not believe he's done it for The Club or The Supporters he's doing it for himself . I just hope he is giving Jack Ross everything he needs in terms of his time and support . GS strikes me as an interfering type who would not know the difference between a football or a Mellon but I can't see Jack putting up with any nonsense . By the way I'm not Chick Young or Alex Rae but I attened every match at home and most matches away from home . My Wife laughs every month when The Bank Statement comes in and even she can't believe that I'm contributing so GS gets his " wee ba " To play with but if she gets a laugh at me fair enough she spends plenty getting her hair done and make up and she's still ugly !

A welcome post on a cold and frosty morning. 

Thanks Sir. :)

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On 22 November 2016 at 1:37 PM, div said:

SMiSA 's buy out was always built on a model of 1000 subscribers. We have around 1300 last time I looked.

Maybe your calculator is broken?

Gordon put up £600K of the £980K agreed with the sellers. I wouldn't call that "nothing" but you crack on buddie.

No way did Gordon put in 600 k he's borrowed it . Now there is a massive difference . Its most likely been a condition of the lenders that he got 1,000 subscribers . There is no contingency plan for this ( just like the recently published accounts ) . So the people who have signed up at the moment ( including myself ) will still be paying in future years ? Won't happen sorry as people will pull out for many different reasons . I will personally ask Gordon how much he actually put in . However he is under no obligation to give an answer . 

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1 hour ago, Loyal Supporter said:

No way did Gordon put in 600 k he's borrowed it . Now there is a massive difference . Its most likely been a condition of the lenders that he got 1,000 subscribers . There is no contingency plan for this ( just like the recently published accounts ) . So the people who have signed up at the moment ( including myself ) will still be paying in future years ? Won't happen sorry as people will pull out for many different reasons . I will personally ask Gordon how much he actually put in . However he is under no obligation to give an answer . 

What makes you think he borrowed the money. While I understand criticism you seem to have a grudge against Mr Scott. 

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1 hour ago, Loyal Supporter said:

No way did Gordon put in 600 k he's borrowed it . Now there is a massive difference . Its most likely been a condition of the lenders that he got 1,000 subscribers . There is no contingency plan for this ( just like the recently published accounts ) . So the people who have signed up at the moment ( including myself ) will still be paying in future years ? Won't happen sorry as people will pull out for many different reasons . I will personally ask Gordon how much he actually put in . However he is under no obligation to give an answer . 

Why would anyone borrow £600k , pay interest on it and effectively offer it as an interest free ten year loan to SMISA & the saints fans ?

And following your flawed logic, why then should he borrow even more and lose money on every pound he borrows ?

 

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2 hours ago, Loyal Supporter said:

No way did Gordon put in 600 k he's borrowed it . Now there is a massive difference . Its most likely been a condition of the lenders that he got 1,000 subscribers . There is no contingency plan for this ( just like the recently published accounts ) . So the people who have signed up at the moment ( including myself ) will still be paying in future years ? Won't happen sorry as people will pull out for many different reasons . I will personally ask Gordon how much he actually put in . However he is under no obligation to give an answer . 

The SMiSA model was built on a subscription of 1,000 members (which I believe wasa figure that already included contingency).

There are currently over 1,300 members. There's your contingency right there.

You seem to completely forget that the #BuyTheBuds project has absolutely NO bearing on the Football Club at all. The members payments go into a bank account and that bank account will eventually be used to pay back the whole £980K that was agreed with the selling consortium over a period of 10 years.

1,000 members, £10 a month, £120K per annum, £1.2m over 10 years.

In the next few years SMiSA will pay back the first chunk of £380K, and thereafter it will start saving to pay back the £600K to Gordon. The more members we have the quicker this process will run.

IF for any reason the membership dropped off massively after the next few years then all that would happen is that SMiSA wouldn't have enough money to buy out Gordon leaving him the option of either giving them more time or punting his shares on the open market.

I look forward to you sharing your conversation with Gordon.

 

 

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8 minutes ago, notabuddie said:

In fact the only concern you should have is the SMISA part what capital have they secured their loan as I do not believe that they have a loan secured based purely on subscriptions...

Spot on, this is the only concern I had with the whole project. It's never been particularly clear to me how the SMiSA loan was funded.

I assumed it might actually have been a staged payment to one of the selling consortium for their part of the deal but AFAIK it's never actually been disclosed.

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5 hours ago, Isle Of Bute Saint said:

What makes you think he borrowed the money. While I understand criticism you seem to have a grudge against Mr Scott. 

Let me be very clear . I have no grudge against Gordon Scott at all . I subscribe attened all matches with my son ( sometimes ) and 2 other supporters . I thought at the beginning there was something odd but as I love the club I went with the flow . Sit down and carefully go through the finances of The Club . Either we sell a player for around 1 million or we need someone who's got mega bucks and does just want to throw his money away . I have no grudges but Gordon had a grudge against Alex Rae and not 1 of you has taken my point . Sack him at the end of the season but to sack him after 9 months was stupid . Tony should have known this as a former player and manager . No way would we have been in this position , he even sacked Rae after a draw away to Dumbarton !!! He got this decision badly wrong and thats a fact . If Scott had known anything about Profesional players he'd have ditched Rae at end of the season and by all means bring in Jack at the same time that would have been fair to Jack tough on Rae but we'd be in The Championship . As for borrowing The Money if he'd been able to put up £ 600,000 of his own funds he would not have needed us to chip in the banks would have been very happy to lend him the rest . As for the heating problem in his defence we have got 1 of or possibly the best playing surfaces in Scotland . It's a fact that unders il heating can lead to ruining the actual playing surface . Although Girdon possibly does not know this . It won't be long until we need to chip in more funds and even a shorter period when people are shouting for resignations from the board . Don't blame the old board if Gordon bought a pink elephant Because everyone seems to think that he's a good Buisness person . Maybe he is but he for sure got this deal wrong OR he's up to something

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Think you are being highly disrespectful to a man who has put in a large chunk of his personal fortune to help push the fans takeover. There is no personal financial gain in scottish football, so why the witchhunt?

We are working within same budgets as the last board which didnt involve dipping into their own pockets.




Didn't the previous board regularly bail us out with interest free director loans?
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2 hours ago, Loyal Supporter said:

borrowed almost 600 k ! Big difference 

I'm not entirely sure I follow the logic of that?

IF, and it is an enormous IF, Gordon borrowed £600K and put it into the club, he's still liable for servicing that £600K debt, is he not?

Or do you think someone just gave him £600K for ten years interest free with no security and just said "pay us back when you can Gordy lad, no rush".

It's a very strange way of looking at things.

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