Rascal Posted July 27, 2022 Report Share Posted July 27, 2022 4 minutes ago, mattman said: I don’t see it an issue at all, you wouldn’t take a loan unless you could pay it back. We are in agreement. This is a well run club. Good Quote Link to comment Share on other sites More sharing options...
mattman Posted July 27, 2022 Report Share Posted July 27, 2022 16 minutes ago, Rascal said: We are in agreement. This is a well run club. Good Thanks Ricky. Quote Link to comment Share on other sites More sharing options...
Callum Gilhooley Posted July 27, 2022 Report Share Posted July 27, 2022 I don’t get all this fuss about a million quid. When Finnish league hot shot Lee Erwin gets his big move, we’ll be rolling in it as a result of the sell on clause 💰😎 Quote Link to comment Share on other sites More sharing options...
Jockmd Posted July 27, 2022 Report Share Posted July 27, 2022 Our economic commercial guru, Kibble, will keep us right. Quote Link to comment Share on other sites More sharing options...
BuddieinEK Posted July 27, 2022 Report Share Posted July 27, 2022 1 hour ago, mattman said: I don’t see it an issue at all, you wouldn’t take a loan unless you could pay it back. Really? Tell that to the odd bankrupted individual or liquidated company chasing just a bit more cash to make things right. Strangely flawed logic. Quote Link to comment Share on other sites More sharing options...
beyond our ken Posted July 27, 2022 Report Share Posted July 27, 2022 3 hours ago, mattman said: I don’t see it an issue at all, you wouldn’t take a loan unless you could pay it back. you mean like Rangers Quote Link to comment Share on other sites More sharing options...
W6er Posted July 27, 2022 Report Share Posted July 27, 2022 @HSS has already posted it, but here's the text: Quote There was then a lengthy discussion about the club’s finances and cashflow position. JN revealed the board get management accounts every month from the club accountant and examine them at board meetings and take action where needed. JG explained that there is an audit committee and a finance committee and the club now has the necessary financial and fiscal policies in place. He added that the club is in a better position today than this time last year but that, along with cutting their cloth, the club also has to scale the business to try to generate income. So alongside looking at what happened last year in terms of finances, the club is also continually looking at different ways to also grow the business. AQ added that a lot of recommendations have been made from the finance committee to the board on how to tighten up and improve procedures and that matters are being addressed. There was a suggestion of providing quarterly or interim financial updates and the board members agreed this was something they may be able to do but would have to look into the best way to do that. Source: https://www.smisa.net/news-archive/5-general-smisa-news/332-smisa-members-quarterly-meeting Quote Link to comment Share on other sites More sharing options...
portmahomack saint Posted July 27, 2022 Report Share Posted July 27, 2022 Remember reading a article in the press at the time that US and Celtic were the only teams who didn't take up the option of the loan.. We must have changed our mind, maybe someone told the Board Nostradamus predicted Armageddon in 2022 so just take it we won't have to pay it back Quote Link to comment Share on other sites More sharing options...
div Posted July 27, 2022 Report Share Posted July 27, 2022 It seems what was said last week at the meeting was a bit muddled. All will come out in due course as the accounts to the year ended May 31st 2022 will be issued in a few months, usually December I think, so we will find out then! Quote Link to comment Share on other sites More sharing options...
TPAFKA Jersey 2 Posted July 27, 2022 Report Share Posted July 27, 2022 What was our cash position at the latest management accounts? If statements were made saying “it would be daft not to take the loan even if we don’t need it” that only holds water if we didn’t spend it all. If we spent it all then that statement is bollocks. Either way, if we can’t find £50k per annum to repay it, then we probably are f**ked. My guess is that the whole thing is a load of shite and we’re probably fine. Quote Link to comment Share on other sites More sharing options...
W6er Posted July 28, 2022 Report Share Posted July 28, 2022 4 hours ago, TPAFKA Jersey 2 said: What was our cash position at the latest management accounts? If statements were made saying “it would be daft not to take the loan even if we don’t need it” that only holds water if we didn’t spend it all. If we spent it all then that statement is bollocks. Either way, if we can’t find £50k per annum to repay it, then we probably are f**ked. My guess is that the whole thing is a load of shite and we’re probably fine. With inflation at 9%, it might be worth considerably less in...is it twenty years' time? Remember it's interest free, too. Quote Link to comment Share on other sites More sharing options...
aldo_j Posted July 28, 2022 Report Share Posted July 28, 2022 On 7/26/2022 at 8:28 PM, beyond our ken said: I doubt it, unless any of these supposed letters have been issued to all club employees. If it’s just the youth academy that’s being restructured then letters don’t need to go to all club employees. Just needs to be that department/people impacted. That’s certainly been the case in any business I’ve worked in. Quote Link to comment Share on other sites More sharing options...
aldo_j Posted July 28, 2022 Report Share Posted July 28, 2022 12 hours ago, div said: It seems what was said last week at the meeting was a bit muddled. All will come out in due course as the accounts to the year ended May 31st 2022 will be issued in a few months, usually December I think, so we will find out then! Yeah, we’re getting third/fourth hand feedback from a small group of people who attended. Plus, a group that are still pushing the f**king car boot sale agenda. Quote Link to comment Share on other sites More sharing options...
bazil85 Posted July 28, 2022 Report Share Posted July 28, 2022 22 hours ago, HSS said: Sorry to disappoint you about the million pound debt……………. Can someone check on on Elvis? He must be devastated that the club he ‘supports’ isn’t close to liquidation. 😂 Quote Link to comment Share on other sites More sharing options...
animal Posted July 29, 2022 Author Report Share Posted July 29, 2022 The Club's welfare officer, well known to many of us, left today ☹️ - more to follow. Question for SMISA members and directors – why are we making people redundant if the Club is in such a sound financial state ? Asking for a friend. Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 29, 2022 Report Share Posted July 29, 2022 2 minutes ago, animal said: The Club's welfare officer, well known to many of us, left today ☹️ - more to follow. Question for SMISA members and directors – why are we making people redundant if the Club is in such a sound financial state ? Asking for a friend. You don't have any real friends, only made up ones. Quote Link to comment Share on other sites More sharing options...
Guest Posted July 29, 2022 Report Share Posted July 29, 2022 4 minutes ago, animal said: The Club's welfare officer, well known to many of us, left today ☹️ - more to follow. Have you evidence of that claim? Quote Link to comment Share on other sites More sharing options...
Tommy Posted July 30, 2022 Report Share Posted July 30, 2022 9 hours ago, animal said: The Club's welfare officer, well known to many of us, left today ☹️ - more to follow. Question for SMISA members and directors – why are we making people redundant if the Club is in such a sound financial state ? Asking for a friend. I am not a SMISA or a director, but maybe the reason people are being made redundant is that we have more staff than what we need. If there not enough work for people to do, then getting paid off is what normally happen. Quote Link to comment Share on other sites More sharing options...
animal Posted July 30, 2022 Author Report Share Posted July 30, 2022 11 hours ago, SuperSaints1877 said: Have you evidence of that claim? Yes but I have no doubt you would still not believe me so why not simply contact the club director in charge of the academy and ask him to confirm or deny the existance of the redundancy letters and the departure of the welfare officer. He does not seem to have a St. Mirren e-mail address so maybe try - Jim Gillespie Kibble Goudie Street Paisley PA3 2LG [email protected] Telephone 0141 889 0044 https://www.kibble.org/contact/ I'm sure he will be delighted to hear from you. Quote Link to comment Share on other sites More sharing options...
Callum Gilhooley Posted July 30, 2022 Report Share Posted July 30, 2022 11 hours ago, animal said: The Club's welfare officer, well known to many of us, left today ☹️ - more to follow. Question for SMISA members and directors – why are we making people redundant if the Club is in such a sound financial state ? Asking for a friend. Have to be honest, I didn’t even know we had a welfare officer, never mind who he or she was 🤷♂️ Quote Link to comment Share on other sites More sharing options...
Guest Posted July 30, 2022 Report Share Posted July 30, 2022 13 minutes ago, animal said: Yes but I have no doubt you would still not believe me. I was not doubting your claim, but so far I’ve not seen any evidence. Apologies if I’ve missed anything. Not sure he would respond to me by email given our history of past discussions. Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 30, 2022 Report Share Posted July 30, 2022 38 minutes ago, animal said: Yes but I have no doubt you would still not believe me so why not simply contact the club director in charge of the academy and ask him to confirm or deny the existance of the redundancy letters and the departure of the welfare officer. He does not seem to have a St. Mirren e-mail address so maybe try - Why don't you contact them as your prepared to post unfounded stories? Quote Link to comment Share on other sites More sharing options...
Oldfellow Posted July 31, 2022 Report Share Posted July 31, 2022 Is the academy all it's cracked up to be? A few years ago at a shareholders AGM I asked how the value of the academy was measured. I couldn't get a straight answer. I would suggest that one measurement would be cost of running it against what we get in for transfers. I don't know what those figures are but suspect they won't be encouraging. The only other measure could be feeding players into the first team on a long term basis. Again I'm not sure that looks particularly good either. People seem to be obsessed by giving youngsters their chance and that all will be well if we do that but in reality very few make the first team grade. In short it's nice that we have an academy but does it produce the goods? I have an open mind but I suspect it doesn't produce what is required. Hope I'm wrong. Quote Link to comment Share on other sites More sharing options...
Guest Posted July 31, 2022 Report Share Posted July 31, 2022 7 minutes ago, Oldfellow said: Is the academy all it's cracked up to be? A few years ago at a shareholders AGM I asked how the value of the academy was measured. I couldn't get a straight answer. I would suggest that one measurement would be cost of running it against what we get in for transfers. I don't know what those figures are but suspect they won't be encouraging. The only other measure could be feeding players into the first team on a long term basis. Again I'm not sure that looks particularly good either. People seem to be obsessed by giving youngsters their chance and that all will be well if we do that but in reality very few make the first team grade. In short it's nice that we have an academy but does it produce the goods? I have an open mind but I suspect it doesn't produce what is required. Hope I'm wrong. They must be able to have some idea of the ROI. Certain players have been sold on for decent money, but the Academy must cost the club a fair whack. John McGinn has been the best return ever. The club are still hoping for a further big transfer from Villa. We received fees for Stephen McGinn, Kyle McAllister, Lewis Morgan and Kenny McLean. I can’t remember too many others. Morgan and McLean were rejected by Rangers as youths so we can’t really claim to have reared them in our Academy structure. I don’t think Stephen McGinn was part of our youth academy as we know it now. So would it be fair to say that the only real assets that the Academy has produced are John McGinn and Kyle McAllister. Did we not pay a fee to get Kyle back? The last striker that we sold on for a decent fee was Barry Lavety. And we never had an Academy back then he was an S form. He made his debut in 1991. Quote Link to comment Share on other sites More sharing options...
alwaysabuddy Posted August 2, 2022 Report Share Posted August 2, 2022 Result from Friday Club Academy Scotland U18 League Cormack Park Aberdeen 9 St Mirren 0 Yes there are problems at the academy and I have also heard that coaches are leaving. Worrying when you add that we are not entering the reserve league Quote Link to comment Share on other sites More sharing options...
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