paul torfason Posted November 25, 2016 Report Share Posted November 25, 2016 2 hours ago, Stuart Dickson said: Dear oh dear. So it transpires that the previous board left a club crumbling both on and off the park with no provisions for maintenance and renovation. And still some on here will defend them to the hilt and tell us they did a wonderful job. agree Stuart,as said numerous occasions"rat's deserting a sinking ship"but god to some people,seriously delusional Quote Link to comment Share on other sites More sharing options...
buddiecat Posted November 25, 2016 Report Share Posted November 25, 2016 25 minutes ago, scottd said: Am I missing something here? I thought the subscriptions from Smisa members, like myself, we're going toward buying the club at some future point not to aid club finances in the here and now. The amount of subs from Smisa members is irrelevant to the financial health of the club at this point in time. Correct Scott,the subscriptions are being used to pay the previous board for the shares the members bought from them and are in a separate account for that purpose,no way can they be used for anything else.Once the previous board are paid in full,they will then be used to buy Gordon Scott out. I did attempt to explain to the loyal supporter that he had the wrong idea about where subscriptions go and that Gordon Scott is not making money from the members,but i gave up. Quote Link to comment Share on other sites More sharing options...
magnus Posted November 25, 2016 Report Share Posted November 25, 2016 (edited) Can't see the Directors loan repayment being for a single final year's injection of cash. The previous BoD was in full penny pinching mode for 6 years. More likely the ex Directors have been searching behind their sofas for all their old expenses receipts and this is a toting up of every penny ever advanced to the Club by the BoD over their period of tenure.If the £250k is treated as an exceptional cost then the Club generated £280k profit.The accounts are pretty decent for a small business and very respectable for a football club. Dave King has today announced that Rangers will continue to spend more that they earn for an as yet unknown period of years to make up for years of lack of investment. I prefer our model. Financially Saints are ok. We have a stadium with a book value of over 9 million, some potential income from a sell on of McGinn and a couple of players with resale value. 2020 is a modern stadium so running costs will be modest. The USH breaking is a pain. I would be amazed if a 7 year system was covered by any warranty so its an unexpected expense but these things happen. For me the single biggest threat to the Club is still relegation to the 3rd tier. I am sure that last year's accounts and a burst pipe will not deter GLS from investing in a few decent players capable of keeping us in the second tier. Edited November 25, 2016 by magnus Quote Link to comment Share on other sites More sharing options...
Tam M Posted November 25, 2016 Report Share Posted November 25, 2016 Surely we would have built a cash reserve up of at least a million with McAusland not on the wage bill anymore. Heard he was on a fair whack. Quote Link to comment Share on other sites More sharing options...
antrin Posted November 25, 2016 Report Share Posted November 25, 2016 I liked the thought process behind your post, however... ... It should not have mentioned McAusland. fuxake Cheesy would have sufficed. Quote Link to comment Share on other sites More sharing options...
buddiecat Posted November 26, 2016 Report Share Posted November 26, 2016 6 hours ago, Stu said: A few things based on the points you've pulled out. The old board having to loan £250k is indeed worrying, however there doesn't seem to be any indication as to what timescale that was over. If that was just last season then it is a huge concern - if it was over the last 18 years then it's not quite as bad. The club should have been putting aside money for the replacement of the pitch at Ralston. Clubs and organisations in Dumfries & Galloway that have 3G pitches are told to put aside £10k a year for 10 years to help with the replacement. It's a partnership with the council so doesn't cover the full cost but it helps them fund their contribution. We should have been taking a similar approach. If there's issues with the buildings at Ralston perhaps the chairman could use his business contacts to get the work carried out at a cheaper rate? At the risk of sounding like the Dumfries equivalent of a certain pipe fitter (perhaps he could fix the undersoil heating), the Queens chairman is in the building trade and recent work at the ground and the creation of the Palmerston Arena has been carried out by his company at vastly reduced rates. Failing that there will surely be someone in the fanbase who could help in the way a few businesses helped with the alterations required for the wheelchair platform. Apologies if this is already being undertaken. I couldn't see anything about the JD Sports deal, which bit relates to that? Overall a pretty shit situation. Should have said, at which point do we stop referring to it as a new stadium and a new training ground? The training ground is seven years old, the training ground almost eight. New compared to Love Street but not that new in the grand scheme of things. The directors loans were over the 2 previous seasons,and were repaid at the start of the year if i recall correctly.I wonder if the game we had snowed off last year was due to this heating problem because the report is stating it was known about but never fixed which is disappointing if that is the case and that any money the club had to fix it was used to hire or fire managers instead. I would like to point out that quite obviously the news that the heating was broken has only come to light in the year ending May 2016 report,which has only been released today,therefore any due diligence reports which had to be done (and they had to be done before May 2016) would not have found any notice of this problem. It will also be disappointing if it transpires that the previous board and or previous CEO never let on to anyone that this problem was being left for the new board to discover for themselves when the first serious frosty weather occurred,surely they would have given notice of this and if so why was it not acted upon.My money would be on the new board not being told,simply because they seem eager to get major things fixed and there's nothing more major than no heating in winter. Quote Link to comment Share on other sites More sharing options...
ged62 Posted November 26, 2016 Report Share Posted November 26, 2016 Where's all the love for the old board now, I already posted previously the old board left us in a mess. Seems I was right. Some on here are keeping quiet, you embarrassed now? You know who you are. [emoji6] Quote Link to comment Share on other sites More sharing options...
Isle Of Bute Saint Posted November 26, 2016 Report Share Posted November 26, 2016 Ether there is more investment from Gordon and the fans. Or the club shrinks again. Yet Gordon spent weeks doing due diligence as a successful business man surly he would have seen this coming. Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted November 26, 2016 Report Share Posted November 26, 2016 Ether there is more investment from Gordon and the fans. Or the club shrinks again. Yet Gordon spent weeks doing due diligence as a successful business man surly he would have seen this coming. Interesting that you think throwing money around is the answer. Stupid, but interesting, especially given your posts in the political threads in General nonsense Quote Link to comment Share on other sites More sharing options...
Loyal Supporter Posted November 26, 2016 Report Share Posted November 26, 2016 9 hours ago, Stuart Dickson said: You also called for Stewart Gilmour to be brought back in to help - yet it would appear that he's one of the people who put the club in this state in the first place. Can't honestly agree with you . Gilmour's record is there for all to see , he took over in bad times won promotion , kept us in top flight . Won a national competition , moved Stadium ( I'd have preferred to stay at Love St but he'd argue differently ) . He was a good leader and had a presence about him . Quote Link to comment Share on other sites More sharing options...
Stuart Dickson Posted November 26, 2016 Report Share Posted November 26, 2016 Can't honestly agree with you . Gilmour's record is there for all to see , he took over in bad times won promotion , kept us in top flight . Won a national competition , moved Stadium ( I'd have preferred to stay at Love St but he'd argue differently ) . He was a good leader and had a presence about him . Shut down a successful youth scouting operation, sacked one of the best managers the club has had in modern times, hired some of the worst managers the club has ever had, failed to notice Rangers going bust, arguing to treat the new Rangers preferentially, verbally abusing other chairmen who didn't agree with this, proposing a league structure that would have seen St Mirren demoted, and running the new stadium into the ground all whilst picking the pockets of fans for personal gain. Quote Link to comment Share on other sites More sharing options...
antrin Posted November 26, 2016 Report Share Posted November 26, 2016 Still in a hissy fit cos he sensibly rejected you all those years ago, eh? Quote Link to comment Share on other sites More sharing options...
Loyal Supporter Posted November 26, 2016 Report Share Posted November 26, 2016 10 minutes ago, Stuart Dickson said: Shut down a successful youth scouting operation, sacked one of the best managers the club has had in modern times, hired some of the worst managers the club has ever had, failed to notice Rangers going bust, arguing to treat the new Rangers preferentially, verbally abusing other chairmen who didn't agree with this, proposing a league structure that would have seen St Mirren demoted, and running the new stadium into the ground all whilst picking the pockets of fans for personal gain. Ok Stuart all good points however this could have been down to board decisions not individual decisions/ opinions . We will never all be happy but we all love The Club . I just felt more comfortable with Gilmour in charge . He seemed to me to be very passionate and honest . Gordon Scott has not been honest and he needs to come out and admit that we just do not have enough subscribers therefore what he proposed just will never happen . He knows that but won't come out and admit it . Gilmour would never have done that . Quote Link to comment Share on other sites More sharing options...
Loyal Supporter Posted November 26, 2016 Report Share Posted November 26, 2016 2 hours ago, Isle Of Bute Saint said: Ether there is more investment from Gordon and the fans. Or the club shrinks again. Yet Gordon spent weeks doing due diligence as a successful business man surly he would have seen this coming. Correct there simply has to be more investment and it won't come from Gordon Scott . Exactly what makes you think he has a small fortune and has been successful ? I admit he's a very good salesman Quote Link to comment Share on other sites More sharing options...
Isle Of Bute Saint Posted November 26, 2016 Report Share Posted November 26, 2016 9 hours ago, buddiecat said: Correct Scott,the subscriptions are being used to pay the previous board for the shares the members bought from them and are in a separate account for that purpose,no way can they be used for anything else.Once the previous board are paid in full,they will then be used to buy Gordon Scott out. I did attempt to explain to the loyal supporter that he had the wrong idea about where subscriptions go and that Gordon Scott is not making money from the members,but i gave up. Understood so thanks for that. We are in a bigger mess than I thought and only a few moths into a new board. Dearie me this is worrying. Quote Link to comment Share on other sites More sharing options...
rebella15 Posted November 26, 2016 Report Share Posted November 26, 2016 SMiSA through its Director on the Board are investing directly into the club. GS and Allan Wardrop have to justify why they are on the Board and come up with concrete plans to increase revenue with the club or stand aside and let others try Quote Link to comment Share on other sites More sharing options...
Dave The Buddie Posted November 26, 2016 Report Share Posted November 26, 2016 Numbers look for depressing reading. It will only be made worse with relegation Quote Link to comment Share on other sites More sharing options...
div Posted November 26, 2016 Author Report Share Posted November 26, 2016 SMiSA through its Director on the Board are investing directly into the club. GS and Allan Wardrop have to justify why they are on the Board and come up with concrete plans to increase revenue with the club or stand aside and let others try Gordon has put up £600K of his own money which is the only way fan ownership could be delivered.Yes, he will get that back if the model succeeds but I don't think you can dismiss the fact that £600K is a lot of money to tie up for ten years when he could have invested it elsewhere and actually got a healthy return. Quote Link to comment Share on other sites More sharing options...
buddiecat Posted November 26, 2016 Report Share Posted November 26, 2016 3 hours ago, Loyal Supporter said: Can't honestly agree with you . Gilmour's record is there for all to see , he took over in bad times won promotion , kept us in top flight . Won a national competition , moved Stadium ( I'd have preferred to stay at Love St but he'd argue differently ) . He was a good leader and had a presence about him . You forgot to mention he didn't fix the undersoil heating and didn't consult fans before deciding to sell their season ticket seats to away fans,as to "having a presence about him" what does that actually mean and what good did it do anyone.You also seem to forget he and his consortium wanted out and stated publicly that they had grown tired of running the club and then presided over one of our worst periods,that being since we won the league cup.In case you hadn't noticed,he was in charge when we were relegated in season 2014/2015 and kept us in the lower league at the end of 2015/2016.So his record is "good at the start and middle and bad at the end" Quote Link to comment Share on other sites More sharing options...
Callum Gilhooley Posted November 26, 2016 Report Share Posted November 26, 2016 6 hours ago, Loyal Supporter said: Can't honestly agree with you . Gilmour's record is there for all to see , he took over in bad times won promotion , kept us in top flight . Won a national competition , moved Stadium ( I'd have preferred to stay at Love St but he'd argue differently ) . He was a good leader and had a presence about him . I take it by presence you mean arrogance ? Quote Link to comment Share on other sites More sharing options...
scottd Posted November 26, 2016 Report Share Posted November 26, 2016 12 hours ago, Isle Of Bute Saint said: Ether there is more investment from Gordon and the fans. Or the club shrinks again. Yet Gordon spent weeks doing due diligence as a successful business man surly he would have seen this coming. Why should their be more 'investment'? The club has to cut its cloth according to what income is brought in. It looks to me as if the old board treated water for the last couple of years and have now vacated the premises leaving behind a 'the money's ran out' type note for the new occupants. Quote Link to comment Share on other sites More sharing options...
div Posted November 26, 2016 Author Report Share Posted November 26, 2016 Why should their be more 'investment'? The club has to cut its cloth according to what income is brought in. It looks to me as if the old board treated water for the last couple of years and have now vacated the premises leaving behind a 'the money's ran out' type note for the new occupants. To be fair the chairman has said in his report that he knew additional investment would be required in 2017 when he & SMiSA bought the club. Quote Link to comment Share on other sites More sharing options...
scottd Posted November 26, 2016 Report Share Posted November 26, 2016 7 minutes ago, div said: To be fair the chairman has said in his report that he knew additional investment would be required in 2017 when he & SMiSA bought the club. What amazes me is that some of our supporters are laying blame, if there is any to be apportioned, at the feet of the new board who have only been in place 4 months. Although I shouldn't be too surprised when some want a new manager bagged after only 6 games. Quote Link to comment Share on other sites More sharing options...
Eaglesham saint Posted November 26, 2016 Report Share Posted November 26, 2016 Anyone else think that we lost a great CEO because of these accounts Quote Link to comment Share on other sites More sharing options...
rabuddies Posted November 26, 2016 Report Share Posted November 26, 2016 9 minutes ago, Eaglesham saint said: Anyone else think that we lost a great CEO because of these accounts ....... because? Quote Link to comment Share on other sites More sharing options...
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