Fearchar Posted November 18, 2016 Author Report Share Posted November 18, 2016 ...In terms of the Trust being a decision making or consultative group I would say that it is there to better inform the decisions the club makes.... So whilst it might not actually make the final decision in each situation it can certainly shape the process and the more people who are involved the more weight that gives it. Thanks for that. It's what boards tend to claim about "employees' associations" when faced with employees backing recognition for a proper trade union. Quote Link to comment Share on other sites More sharing options...
ian_mac Posted November 18, 2016 Report Share Posted November 18, 2016 There's no doubt you are correct here Fearchar. The problem is that, to use your analogy, we DO have a trade union, they're just completely useless and for all intents and purposes, barely exist anymore. Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted November 18, 2016 Report Share Posted November 18, 2016 Is the existence of this PTFC Trust not a stipulation of the Weir investment? I wouldn't go so far as to say such a poor turn out is a slap in the face for those who facilitated the investment but at the same time I doubt such a display of apathy can be viewed in a good light. Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 18, 2016 Report Share Posted November 18, 2016 I thought the Trust was a stipulation of the bank. Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted November 18, 2016 Report Share Posted November 18, 2016 I thought the Trust was a stipulation of the bank. .. but was that not directly related to the investment? Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 18, 2016 Report Share Posted November 18, 2016 Going from memory (never a good idea these days) it was phrased as a condition of restructuring debt. I suppose that could mean, in turn, that it is related to the investment. Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 18, 2016 Report Share Posted November 18, 2016 This will clear it up http://www.eveningti...and_supporters/ Not. Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 18, 2016 Report Share Posted November 18, 2016 And this Friday 13th November 2015 at 13:06 Partick Thistle Football Club can today announce that, following new shareholder investment and agreement with Bank of Scotland, the club is now debt free. Intrinsic to this refinancing is the creation of the Partick Thistle Football Club Trust, which will provide supporters, through fans appointed representatives on the trusts board, an opportunity to have a greater say in the running of the club. In 2008, the club’s debt totalled more than £1.5 million, which has been reducing year on year due to ongoing sound financial management and some tough decisions around costs. The 2014/15 season saw the club continue to operate a break even budget strategy, however it remained a challenging period from a financial perspective. Despite on field improvements, leading ultimately to an eighth place finish in the Scottish Premiership, the club saw home attendances drop by more than 500 on average, although numbers have stabilised in the current season. As part of the club’s ongoing financial planning process, the board of directors discussed options around funding with the bank and it became apparent that, should suitable investment be found, there would be an opportunity to restructure the club’s debt. With investment secured, that restructuring deal is now in place, meaning the club is debt free. Partick Thistle chairman, David Beattie, said: “This is a historic day for Partick Thistle Football Club. To put not too fine a point on it, it represents the biggest off the park success story since Save the Jags. “This deal is the result of a huge amount of work behind the scenes at Firhill and feels like the ultimate reward for a sustained period of careful financial planning. “I am grateful to the board of directors and all at the club, including our fans, for their support to get us here and to Bank of Scotland for helping us realise our vision. “Before this season started, we explained that one of our objectives going forward was to bring stability to the club. That’s what this deal means for us. What it doesn’t mean is that we will become complacent, rather that we will use this as a base to build from.” Further details on the Trust and the new investors will follow in due course. In the second paragraph there is mention of 'fans appointed representatives'. Haven't heard any mention of this in reports of meetings over the last year. What we have is 'fans appointed as representatives'. Perhaps a degree of cynicism on the fans behalf is not misplaced. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted November 18, 2016 Report Share Posted November 18, 2016 The current make up of the Board was so that things could get up and running quickly but there will be elections and it is not a case that the current number and split between club directors & others will remain as is. Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 18, 2016 Report Share Posted November 18, 2016 Has there been any mention of when this might happen? Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted November 18, 2016 Report Share Posted November 18, 2016 Has there been any mention of when this might happen? The terms for the current members of the board were discussed at the first meeting - some members are on 2 year terms others on 3 years so that we don't have everyone changing at the same time. But it was stated new people could come on board as well but I don't recall that being discussed in any great detail. Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 18, 2016 Report Share Posted November 18, 2016 Thanks FT Quote Link to comment Share on other sites More sharing options...
Jaggernaut Posted November 18, 2016 Report Share Posted November 18, 2016 Why build a stand that won't be used? Waste of money. I wonder if fans really do want a say in running the club. It's easy to talk in the pub and type in here but its a struggle to attend a meeting. A new stand may well be needed if the main stand eventually fails to make the grade. Quote Link to comment Share on other sites More sharing options...
David Stevenson Posted November 19, 2016 Report Share Posted November 19, 2016 A new stand may well be needed if the main stand eventually fails to make the grade. PROPCO control the future of the Main stand also. The plan for which permission has been granted is appalling and would destroy the stadium. Quote Link to comment Share on other sites More sharing options...
Jaggernaut Posted November 19, 2016 Report Share Posted November 19, 2016 PROPCO control the future of the Main stand also. The plan for which permission has been granted is appalling and would destroy the stadium. I agree entirely, but the fact that an appalling plan has been approved doesn't mean that no stand should be built at all. Quote Link to comment Share on other sites More sharing options...
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