I might be shooting in the dark but does any potential owner of the shares have to pass a fit and proper test by the SPFL? I don't doubt that the Trust would pass the test (Jacquie has friends in high places) but surely objections from a wide fan base would at least get a decent amount of publicity and force the SPFL to review the track record of the Trust? (Criteria for membership, lack of elections, unaccountably etc.)