New Owner

[javeajag]

22 minutes ago, Lenziejag said:

Only Colin Weir can say why he doesn’t think the plans are good enough - duh

Yep because you have no idea what they are .....look at Barnsley 

[Lenziejag]

2 minutes ago, javeajag said:

Yep because you have no idea what they are .....look at Barnsley 

You just don’t answer any questions.

[jlsarmy]

30 minutes ago, Lenziejag said:

I really am what ?

Beattie was one of the shareholders. What about the others ?

And again I ask - why didn’t Colin Weir speak to Chien ?

 

How does that make sense , surely it should be the other way round , the new prospective owner should be contacting the benefactors to keep them onside .

[javeajag]

2 minutes ago, Lenziejag said:

You just don’t answer any questions.

Let’s call it quits you want to be owned by a private equity outfit 

[jlsarmy]

Interesting to read when the new owners of Nice took over from Chien Lee and Paul Conway , all 145 employees had to back the deal for it to go through, if only we had that transparency for this deal so we could appraise it properly, one thing when you read the web streams of Barnsley and Nice is  they don’t like spending money .

Happy days ahead .

 

[javeajag]

1 minute ago, jlsarmy said:

Interesting to read when the new owners of Nice took over from Chien Lee and Paul Conway , all 145 employees had to back the deal for it to go through, if only we had that transparency for this deal so we could appraise it properly, one thing when you read the web streams of Barnsley and Nice is  they don’t like spending money .

Happy days ahead .

 

This a private equity outfit ......people should google pe and look at how they operate ......invest 3-7 years, incentivize management on strict targets and then exit the business having made x times your investment.....that’s how they work 

there will no investment in the stadium, no training  complex and minimal investment in the club 

[Guest]

1 hour ago, Jordanhill Jag said:

Why on any level would I ever in a Million Years be jealous of someone who picked six numbers in a lottery ? that is simply insane 

The bottom line is as I argued a number of months ago - my view was that we stopped progressing after we got the Weir Money - that was my View then - thats my View now  

Jealous - unbelievable rubbish - Grow Up 

You're digging a hole and are right at it's base telling some one to grow up. Pathetic retort, hoped for a more compelling arguement, not your finest moment jj.

How crass and demeaning for you to make such a comment, " jealous of someone who picked six numbers ". You are a complete snob. Crawl back under your stone.

Edited August 7, 2019 by Guest

[jlsarmy]

1 minute ago, javeajag said:

This a private equity outfit ......people should google pe and look at how they operate ......invest 3-7 years, incentivize management on strict targets and then exit the business having made x times your investment.....that’s how they work 

there will no investment in the stadium, no training  complex and minimal investment in the club 

 

2 minutes ago, javeajag said:

This a private equity outfit ......people should google pe and look at how they operate ......invest 3-7 years, incentivize management on strict targets and then exit the business having made x times your investment.....that’s how they work 

there will no investment in the stadium, no training  complex and minimal investment in the club 

Still not sure how they’re going to make any money, unless we’re getting Barnsley youth players up to speed and then sold on through the more lucrative English market 

[Guest]

2 hours ago, sandy said:

The old Board were paying 4 managers and sanctioned a loosening of purse strings in January to support GC’s promotion target. Attendances then fell.

Ergo, when the accounts for 2018/19 are published, they will show we were living beyond our means; with Colin Weir as our only possible saviour to help with core expenditure (eg, buses).

The Old Board lived beyond their means IMHO. The New Board have simply opened  the curtains and let some light in.

 

 

Ran out of likes. Spot on. But that doesn't absolve this board of their duty of care and self righteous pursuit of profit to the detriment of Thistle. If that's not the case why are they silent on the take over.

Edited August 7, 2019 by Guest

[Norgethistle]

1 hour ago, javeajag said:

But only 60% of total budget max.... explain how you overspend massively on our squad ... laughable 

How do you know that the wage budget was only 60% of the total budget, and how do you know that budget was only based on reasonable plan able income and not budgeting for making it to Hampden twice and selling Harkins for £500k.

 

The answer is you don’t, the only ones that know this seasons budget are the old board and the new board and they saw this budget completely different from each other. The actual P&L of the club for last season also won’t be known truly by anyone outside both boards and possibly any new owner if they do due diligence 

[javeajag]

2 minutes ago, jlsarmy said:

 

Still not sure how they’re going to make any money, unless we’re getting Barnsley youth players up to speed and then sold on through the more lucrative English market 

That is the key question ....but they will only be investing if it gives a rapid return 

Edited August 7, 2019 by javeajag

[javeajag]

2 minutes ago, Norgethistle said:

How do you know that the wage budget was only 60% of the total budget, and how do you know that budget was only based on reasonable plan able income and not budgeting for making it to Hampden twice and selling Harkins for £500k.

 

The answer is you don’t, the only ones that know this seasons budget are the old board and the new board and they saw this budget completely different from each other. The actual P&L of the club for last season also won’t be known truly by anyone outside both boards and possibly any new owner if they do due diligence 

Eh because it was in the accounts and reported widely on last years accounts and discussed at the agm

So explain to me and everyone else how a club with an income of around £2m could overspend their player budget by £700k.....it us truly laughable 

how much do you think our current squad is costing us ? 

[That 1 jags fan]

15 minutes ago, jlsarmy said:

Interesting to read when the new owners of Nice took over from Chien Lee and Paul Conway , all 145 employees had to back the deal for it to go through, if only we had that transparency for this deal so we could appraise it properly, one thing when you read the web streams of Barnsley and Nice is  they don’t like spending money .

Happy days ahead .

 

You missed the bit where they also said we would love to him own us.

[Guest]

3 hours ago, Jordanhill Jag said:

We had a decent Youth Set up that produced Banzo pre Colin Weir - We had a Scouting System that Produced ATS Pre Colin Weir 

Liam didnt come up through Thistle Weir System - Scott Mckenzie was a major influence    

More anti colin weir p1sh. It doesn't matter to you how good or otherwise the academy is because it has the name weir you'll bad mouth it. Pathetic once again.

And Banzo was a sellik academy player. 

 

Thistle and other clubs of a similer standing have always unearthed good kids, whether it was boys clubs or kids playing on red blaze. There's dozens of examples you could use, similarly the academy in it's short period has provided lindsay and fitzy which has made money. Sevco paid for their academy with the sale of 1 player. 

Just cos you name a few players who graced firhill pre weird involvement doesn't prove the academy is worthless.

I doubt you'd be so negative if it were the Thistle Beattie academy or the Thistle Alexander academy. Sad.

Edited August 7, 2019 by Guest

[Mr Bunny]

1 hour ago, Jordanhill Jag said:

Why on any level would I ever in a Million Years be jealous of someone who picked six numbers in a lottery ? that is simply insane 

The bottom line is as I argued a number of months ago - my view was that we stopped progressing after we got the Weir Money - that was my View then - thats my View now  

 

Surely the problem wasn't the Weir's money?  Surely the problem was we didn't take advantage of it properly.  That would have been mainly the youth academy.  Colin Weir wasn't coming in every week to coach the kids, or decide on the progress of the players. 

[Norgethistle]

1 hour ago, javeajag said:

You really are....

he was speaking to the new owners months ago as a shareholder which is why he became chairman again 

He became chairman again as he was one of the main shareholders and between him and various others who had invested their cash in shares they were looking to protect their investment.

 

Lets remember Beattie bought his own shares, paid an annual fee for being on the board, never took a wage or consultancy fee for himself or one of his companies, and when Weir invested he allowed for his own shareholding to be diluted by 20% when new shares were issued.

 

Did the last board buy shares? Pay an annual fee? Not take a wage or a consultancy fee for themselves or related companies? 

 

Before folk start slating Beattie look to what he actually put into this club at a time when others wouldn’t, between himself Billy Allan and Norman Springfield they kept this club going and took us from a club that budgeted to make a loss yearly struggling in 1st division, to a team making an annual profit in top division 

[jlsarmy]

1 minute ago, Mr Bunny said:

Surely the problem wasn't the Weir's money?  Surely the problem was we didn't take advantage of it properly.  That would have been mainly the youth academy.  Colin Weir wasn't coming in every week to coach the kids, or decide on the progress of the players. 

Absolutely right , it was a wasted opportunity and one which could have laid down foundations for our future.

[stuart_adam]

If nothing else this thread provides a good chuckle. Cheers all keep it up 

[javeajag]

1 minute ago, Norgethistle said:

He became chairman again as he was one of the main shareholders and between him and various others who had invested their cash in shares they were looking to protect their investment.

 

Lets remember Beattie bought his own shares, paid an annual fee for being on the board, never took a wage or consultancy fee for himself or one of his companies, and when Weir invested he allowed for his own shareholding to be diluted by 20% when new shares were issued.

 

Did the last board buy shares? Pay an annual fee? Not take a wage or a consultancy fee for themselves or related companies? 

 

Before folk start slating Beattie look to what he actually put into this club at a time when others wouldn’t, between himself Billy Allan and Norman Springfield they kept this club going and took us from a club that budgeted to make a loss yearly struggling in 1st division, to a team making an annual profit in top division 

You see I worry about this kind of post...

tell me how anyone can buy ptfc  shares ? It’s not possible and  I have asked you can only do that under very strict circumstances so what’s your motivation for saying that I wonder? Cheap shot 

who has put in more money to ptfc Beattie or weir ? And who is going to get money back  out oh yeah your mate Beattie 

the fact that people put cash into the club in the past doesn’t mean they are not looking to profit from that now irrespective on the impact on the club 

[Norgethistle]

3 minutes ago, javeajag said:

Eh because it was in the accounts and reported widely on last years accounts and discussed at the agm

So explain to me and everyone else how a club with an income of around £2m could overspend their player budget by £700k.....it us truly laughable 

how much do you think our current squad is costing us ? 

That’s last years accounts, up to 31st May 2018, under Beattie and playing in premiership 

Overspending budgets is easy, you pay players £1.2 million in wages expecting £2million income over season, when your income actually ends up being £1.5 million due to crap results, rained off games, and drop in crowds and sponsorship with no cup runs against OF. Suddenly the £800k you believed would be left to pay maintenance, staff wages, utilities etc and leave you a £100k profit has left you with a £200k loss, and with no banking facilities any overdraft or late payments will cost a fortune

[jlsarmy]

2 minutes ago, Norgethistle said:

He became chairman again as he was one of the main shareholders and between him and various others who had invested their cash in shares they were looking to protect their investment.

 

Lets remember Beattie bought his own shares, paid an annual fee for being on the board, never took a wage or consultancy fee for himself or one of his companies, and when Weir invested he allowed for his own shareholding to be diluted by 20% when new shares were issued.

 

Did the last board buy shares? Pay an annual fee? Not take a wage or a consultancy fee for themselves or related companies? 

 

Before folk start slating Beattie look to what he actually put into this club at a time when others wouldn’t, between himself Billy Allan and Norman Springfield they kept this club going and took us from a club that budgeted to make a loss yearly struggling in 1st division, to a team making an annual profit in top division 

He became Chairman again not to protect his investment but to make sure he sold his investment regardless of what the future holds for our Club .

We’re already 500k a year down ( Colin Weir) because of the ham fisted way this Boardroom coup has happened.

Indefensible , regardless what he did in the past 

[javeajag]

Just now, Norgethistle said:

That’s last years accounts, up to 31st May 2018, under Beattie and playing in premiership 

Overspending budgets is easy, you pay players £1.2 million in wages expecting £2million income over season, when your income actually ends up being £1.5 million due to crap results, rained off games, and drop in crowds and sponsorship with no cup runs against OF. Suddenly the £800k you believed would be left to pay maintenance, staff wages, utilities etc and leave you a £100k profit has left you with a £200k loss, and with no banking facilities any overdraft or late payments will cost a fortune

Look I think you are being deliberately misleading .....

It was clearly stated at the agm that our income would be substantially lower in the championship - no surprise there - so we would not be budgeting for anything else 

so you still haven’t explained on how on a £2m income you could be £700k over budget ....we would need to sign some players to do that and look at our squad ....how much do you think it’s costing this season ? Really ....

24 players at £50k each is £1.2m .....I mean really tell us .....

[Jordanhill Jag]

45 minutes ago, javeajag said:

Your not doing yourself any good here .....in his statement when he became chairman Beattie said he would immediately reach out to Colin weir so not an un reasonable conclusion to reach he had not spoken to him before then ....why not ? ....he then says nothing till weir issues a statement which is very poor 

and let’s see...l do you think Beattie has an email for Colin weir ? So in April let’s send Colin an email saying ...hi Colin ....look we have been approached by these guys who want to buy the club let’s have a chat ....David ....didn’t happen 

OK a "Why not" could be that contact with Colin Weir as a Euro Lottery Winner would not be easy - he would normally have a layer of Lawyers - Accountants and PR Companies to vet correspondance - - therefore direct contact may not be straightforward - he over the last 18 Months given his personal circumstances- may have changed phone number and house address - given he is a very Private individual - again not easy to contact - his Contact would obviously have been via the previous Board - would they be happy for David Beattie to be discussing a Takeover in advance  - well we dont know - therefore as Ive said - your making massive assumptions as to what occurred - bottom line is you dont know.  

[Jordanhill Jag]

3 minutes ago, jlsarmy said:

He became Chairman again not to protect his investment but to make sure he sold his investment regardless of what the future holds for our Club .

We’re already 500k a year down ( Colin Weir) because of the ham fisted way this Boardroom coup has happened.

Indefensible , regardless what he did in the past 

How are we £500K down - The Youth Academy maybe - so we revert back to what we had before - the Club isnt £500K down 

And again - we dont know what or who spoke to Colin Weir - David Beattie stated NO Contact hade been made - which is different from No Contact had been attempted ? 

Edited August 7, 2019 by Jordanhill Jag

[Norgethistle]

4 minutes ago, javeajag said:

You see I worry about this kind of post...

tell me how anyone can buy ptfc  shares ? It’s not possible and  I have asked you can only do that under very strict circumstances so what’s your motivation for saying that I wonder? Cheap shot 

who has put in more money to ptfc Beattie or weir ? And who is going to get money back  out oh yeah your mate Beattie 

the fact that people put cash into the club in the past doesn’t mean they are not looking to profit from that now irrespective on the impact on the club 

If your unaware of how to purchase shares in a Limited Company, then i will try to explain basically to you.

You either purchase shares from existing shareholders at a price they are willing to sell, or you approach the Limited Company’s (Club) board asking to invest X amount in return for new shares being issued which would then be agreed by an EGM of those with significant control.

I never brought up Colin Weir, but he gifted the shares he got for his investment to the Trust otherwise he could have sold them too, he still can with the 3% or whatever he has in his name