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eljaggo

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Posts posted by eljaggo

  1. Hard to imagine that there will be general agreement to play all matches at an earlier time in winter, but there is nothing to prevent clubs reaching mutual agreement to play particular fixtures at an earlier time.  Maybe even the dunderheids at the SPFL might be persuaded that it's in their best interests, and they could cite environmental reasons to cover their backs. 

  2. These Trustees are an apalling group of people who should never be anywhere near the (proxy) stewardship of a public company.

    As ever, the fundamental question is what are Low's motives?  She is a serial meddler, with a seat on the board of 4 or 5 quangos, so perhaps she is quite simply a control freak with political convictions she wants satisfied.

    With no personal shareholding, there seems no financial incentive for her to sell the Club or its assets, although she could receive other payments (consultancy fees, etc) for her involvement in such a move. 

    My main concern is over the Club's assets.  The PTFC Trust generates no income to the Club, and the board members have shown no inclination to invest in the Club.  There will be some substantial expenditure needed to maintain the fabric of Firhill in the next 5 years or so, and that will almost certainly mean raising capital either from cash flow (unlikely) or loans (expensive with interest rates rising).

    In such circumstances, these may be an incentive to sell Firhill for housing development and for the Club to de-camp to the training development site at Kirkintilloch., which I believe is still owned by 3BCs.  Just to add to the mix, there seems to be no let or hindrance in the PTFC Trust selling the shares to whomsover it pleases.

    The Club is in perilous waters, Low has to be removed.

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  3. Difficult for TJF to get any traction given the small numbers likely to be interested in a Partick Thistle story.  Perhaps they should try to generalise the story by pointing out the moral and governance issues involved and so widen its appeal :  A substantial legacy being hijacked by a self appointed group, no control of a public company by shareholders, no shareholder presence on Board, no constraint on the sale of assets to third party, no investment in company by any director, directors being economical with the truth, etc.

    There is really newsworthy material there, just don't expect the Daily Mail to publish it.

    • Like 2
  4. Low will be well known to the Mail's editors from her days as PR chief to Michael Forsyth (aka the prince of darkness to civil servants in the Scottish Office).  She will have been given an easy passage in publishing her diatribe, and the chances of the Mail publishing a response - either an article or a letter - is vanishingly remote.   Not sure who her target audience was, but suspect that she chose easy access rather than effective communication.  Maybe TJF could go to the press complaints ombudsman (if that is the right name).  If successful, a published apology would be printed (3 lines, 1 column  page13).

    Best hope for retribution is via a serious paper, perhaps an approach to the Herald, Scotsman or Guardian (who often seem short of Scottish material) - might prove fruitful.

  5. This point has been raised before, but the transfer makes it relevant once again.  There must be laws governing the operation of trusts.  It is hard to imagine that a trust can be legally controlled by a single entity like 3BC to the extent that they do, and in the manner they have adopted.   Perhaps TJF should take further legal advice on this if they have not already done so.

    An appeal to the SFA is obviously now needed, but I'm unsure what criteria they would apply in reaching a decision.

    The Jags Trust I believe have 26% of the voting shares in PTFC.  From my own business experience I think that gives the power of veto over substantial changes to the operation of the Company - such as sales of assets like the stadium or a sale of the Club itself.  I know that the Jags Trust and TJF have held discussions, but perhaps a more binding arrangement/agreement can be negotiated.  This is obviously a second best option, but it may prevent unwanted major changes.

     

  6. OK so here's my Great Conspiracy Theory about PTFC - no evidence, so pure speculation!

    1.  PTFC Trust are granted Weir's shares.

    2.  PTFC Trust continue to operate as per Low's instructions.

    3.  PTFC Trust sell said shares to group possibly containing McGregor without let or hindrance

    4.  New PTFC owners sell Firhill and buy training ground from 3BCs.

    5.  Milne is rewarded in shares for spurning Hibs and Aberdeen

    The above would mean that everyone benefits from the Weir shares except......... the fans.

    TJF should beat a hasty path to the SFA's door!

  7. My wife's birthday clashes with the EGM.  After a lengthy conversation, and despite a careful explanation of the importance of the EGM, my wife inexplicably would rather celebrate her birthday at home rather than in Maryhill.  Please send my apologies to the meeting.

  8. I've just read this dreadful document.  Apart from the nauseous cliches and the (not so) carefully worded evasions of the key issues, it contains at least one outright lie:

    "Democratic The board of the PTFC Trust are elected by the beneficiaries."

    They don't even have the wit to couch the statement in the future tense to allow for change.

    They, and their boss Low, are taking us for fools.  In what other business would a shareholder with 75% of the shares not determine the Chair of the Board, far less have no seat at all on the board, or its decisions.

    With zero shares once 3BC pass the shares to the PTFC Trust, what is the justification for Low's presence on the Board.

    TJF are in danger of becoming mired in the minutae of this farrago.  Stick to the basics:

    Who appointed the present Trustees and when?

    When will PTFC trust hold elections for Trustees?

    What document prevents the Trust exercising its votes on Board decisions, especially w.r.t.  Board composition and operational matters?

    Keep it simple TJF!

  9. 1 hour ago, Jaggernaut said:

    Thanks for the info.

    In the early 70s, largely due to our season in the old Second Division (70-71), I was chuffed to be able to say that I'd seen Thistle play competitively in every senior ground in Scotland. Alas, like me, that claim has gone out of date in the past few years!

    And I suspect that I'll never reach those dizzy heights again.

    That's some feat, you must have visited many grounds many times to witness that spectacle. 

  10. 4 minutes ago, Dick Dastardly said:

    I think that canvasing opinion is vital, although I'm not sure why it would be just season ticket holders, or are us non-season ticket holders going to be second class citizens in TJF as well ?

    Although not my view, sadly I suspect that most supporters won't be that bothered and just happy to get behind the team. I would hope that those in TJF might be more vocal.

    I'm assuming that the Trust are slow to include non-season ticket holders, and that they are equally slow or even loathe to survey their beneficiariess about where their best interests lie.

    If push comes to shove there needs to be a statement based on evidence defining these best interests.

  11. I think it is vital that TJF conducts a specific survey of its season ticket holding members as soon as possible.  The survey should establish what they see as important to them and by that to define as exactly as possible where their best interests lie.

    If that is not done, then the PTFC Trust can claim that any action they may take can be construed as being in the best interests of season ticket holders.  That could lead to all sorts of issues, especially if a new investor appears on the horizon and offers to buy the Weir shares coupled to promises of new investment.

    TJF at the moment is the only organisation who can speak for a large proportion of season ticket holders, and the results of such a survey would give a benchmark against which future discussions can take place.

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