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Kibble/SMiSA Partnership


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That meant Gordon became the new chairman and majority shareholder of of St Mirren. At the same time, SMISA secured a 29% stake in the club and the right to elect a fan representative on to the club board

SMISA got the right to elect "a" fan representative on to the club board after securing a 29% stake in the club.

Kibble are getting 2 Directors on the club board for 2% less than SMISA.

It stinks

Edited by Kombibuddie
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3 hours ago, waldorf34 said:

GS is the only one who benefits financially 

Not strictly true.

The 1200 odd fans who committed to a monthly subscription to Buy The Buds for 10 years will only have to pay it for 5 years.

SMiSA will continue with some sort of subscription but let's say that drops to £5 from the current £12 and £25 tiers;

£12 a month members would save £7 a month over 60 months = £420
£25 a month members would save £20 a month over 60 months = £1200

Not insignificant amounts of money, whilst fan ownership is still delivered.

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Guest TPAFKATS





There you go, that's the current state of the discussion with the relevant bits quoted.

I say that your last reply makes no sense in the context of "who, not for what job title?"

Your reply to the misquoted bit seemed to answer exactly what you quoted ("Of what?") which wasn't directed at you. No deflection at all. So, who?
To be fair your reply of "who, not for what job title" makes no sense in response to me suggesting a chief executive as an example of someone with knowledge, skills and experience in running a football club instead of two directors from another organisation.
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Not strictly true.
The 1200 odd fans who committed to a monthly subscription to Buy The Buds for 10 years will only have to pay it for 5 years.
SMiSA will continue with some sort of subscription but let's say that drops to £5 from the current £12 and £25 tiers;
£12 a month members would save £7 a month over 60 months = £420
£25 a month members would save £20 a month over 60 months = £1200
Not insignificant amounts of money, whilst fan ownership is still delivered.
You should put that on the side of a big red bus!

Been to the gym Div?

Spin class?
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16 minutes ago, saint in exile said:

This, on the face of it, is not what I signed up to when I committed to BtB.  I haven't decided whether I'm for or against it.  If I decide not to support it, do I get my cash back, given that it's not the deal as was sold to us?

You joined Buy The Buds to help deliver fan ownership.

This, it it passes, delivers fan ownership, and saves you a few hundred quid into the bargain.

Make your mind up once you've heard the presentation from the people involved in getting the deal this far.

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1 hour ago, Dickson said:

I agree with this. In terms of procedure should this change not mean that a SMISA EGM should be called and a requirement for at least one quarter of the total membership to vote before any change can be made? 

 

Thats just for a quorum.

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And btw, this is what everyone signed up to with BTB;

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Remember, the fans owning the club and the fans running the club are not the same thing. For example Barcelona is owned by the fans but they elect a president, who then appoints a board to make the decisions.

Our expectation is that a fan-owned St Mirren will see SMISA appoint a board of people qualified to run the club, and - through our majority shareholding - retain the power to change them if we weren’t happy.

But the beauty of this model is we have years to work out the detailed structure and make a smooth transition to fan ownership, which Gordon will help us do. In that time we will have a fan on the board and can gain experience of how the club is run – so that when the time comes we as a support will be ready to be owners.

All of that remains valid with the new proposal. Only difference being a quarter of the board will be representatives from Kibble.

Two business people used to running a business 10 times the size of St.Mirren.

SMiSA retain the majority shareholding and the majority in the boardroom.

If 51% shareholding isn't enough then someone better tell every German club they are doing it wrong.

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3 minutes ago, div said:

You joined Buy The Buds to help deliver fan ownership.

This, it it passes, delivers fan ownership, and saves you a few hundred quid into the bargain.

Make your mind up once you've heard the presentation from the people involved in getting the deal this far.

I joined BtB on the basis of a specific set of proposals.  This is different from what was proposed.  Although the end result - i.e. fan ownership - will still be achieved, it will not be at the same percentage level as was first mooted.  Therefore what we signed up to has changed.  I still might vote for it, but I don't like the way it's being spun to make it seem like the same deal.

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Just now, saint in exile said:

I joined BtB on the basis of a specific set of proposals.  This is different from what was proposed.  Although the end result - i.e. fan ownership - will still be achieved, it will not be at the same percentage level as was first mooted.  Therefore what we signed up to has changed.  I still might vote for it, but I don't like the way it's being spun to make it seem like the same deal.

It's not the same deal, it's better than the original deal.

We spend £300K less, get control in half the time, and get to benefit from the experience and infrastructure of a 140 year old business that has a turnover of £30m a year!

I can't see why anyone would be against it but each individual will need to weigh up the facts as presented to them.

If you decide it's not for you that is entirely your right.

 

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Just now, div said:

It's not the same deal, it's better than the original deal.

We spend £300K less, get control in half the time, and get to benefit from the experience and infrastructure of a 140 year old business that has a turnover of £30m a year!

I can't see why anyone would be against it but each individual will need to weigh up the facts as presented to them.

If you decide it's not for you that is entirely your right.

 

It's not the same deal, it's better than the original deal.

Are you a tory in disguise 😉

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1 hour ago, Kombibuddie said:

SMISA got the right to elect "a" fan representative on to the club board after securing a 29% stake in the club.

Kibble are getting 2 Directors on the club board for 2% less than SMISA.

It stinks

SMiSA are increasing their number of board members to two if the Kibble deal goes through, and four once BTB is complete.

David Nicol and David Riley will both be SMiSA reps on the board. Which to be fair both are at the moment and have been ever since David Riley came in.

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Although I am very much in favour of the proposed deal I would like clarification n what Kibble currently spend with St.Mirren, and what will happen to that revenue in the event that the deal goes through.

I have no idea what Kibble spend, but I know they make pretty regular use of some of the clubs facilities.

If that revenue disappears because as part owner Kibble gets to utilise the infrastructure without charge then what effect will that have on us?

Might not be any, might be a lot, but I'd be keen to know the answer to the question. I suspect that may be how Kibble may recoup their outlay over time?

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Guest TPAFKATS
SMiSA are increasing their number of board members to two if the Kibble deal goes through, and four once BTB is complete.
David Nicol and David Riley will both be SMiSA reps on the board. Which to be fair both are at the moment and have been ever since David Riley came in.
Not the best example div - they currently have 2 reps and this will increase to, er 2
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Guest TPAFKATS
I don't think David Nicol is there as an "official SMiSA" rep at the moment. I might be wrong on that though.
He's not the only smisa member currently on board whos not officially there in that capacity then.
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13 minutes ago, div said:

Although I am very much in favour of the proposed deal I would like clarification n what Kibble currently spend with St.Mirren, and what will happen to that revenue in the event that the deal goes through.

I have no idea what Kibble spend, but I know they make pretty regular use of some of the clubs facilities.

If that revenue disappears because as part owner Kibble gets to utilise the infrastructure without charge then what effect will that have on us?

Might not be any, might be a lot, but I'd be keen to know the answer to the question. I suspect that may be how Kibble may recoup their outlay over time?

Sounds like a great deal (for the Kibble) their outlay back in a few years,  and they still own 27% of the club 

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3 minutes ago, portmahomack saint said:

Sounds like a great deal (for the Kibble) their outlay back in a few years,  and they still own 27% of the club 

Yeah I'm just completely guessing as to how much they spend with us mate, and I'm also assuming that spend will go away when they are in the door.

Just thought today that it would be worth asking the question. Even if it answered the "what's in it for Kibble" question over and above being able to place their people in various parts of the St.Mirren operation.

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Just as a point of reference though to the people saying that 51% does not constitute having full control of the club.....
That's actually a tiny bit more than Gordon owns today (50.1%).
 
 
Why was such a big deal made of gaining over 71% of the shares in the original BtB proposal if it was never necessary?
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