New Owner

[javeajag]

54 minutes ago, Lenziejag said:

You haven’t read what I wrote. Earlier you said that our budget in the Premiership was 4M and last year had dropped to 2.5M. We have also been told that we didn’t dip into reserves last year. So again, I ask,why shouldn’t we spend the budget if it is affordable ?

Well depends on your definition of budget and how you manage it eg you sign Scott fox on a two year deal and in year one your income is 2.6m but in year 2 as we were not promoted income drops to 1.5m but we are still paying SF the same amount in that case disaster looms 

we as a club should spend about 95% of our income equalised over a three year period 

[Lenziejag]

6 hours ago, javeajag said:

Well depends on your definition of budget and how you manage it eg you sign Scott fox on a two year deal and in year one your income is 2.6m but in year 2 as we were not promoted income drops to 1.5m but we are still paying SF the same amount in that case disaster looms 

we as a club should spend about 95% of our income equalised over a three year period 

2 questions. What is your definition of budget ?

What is your reason for arriving at spending 95 % of income. (I mean as opposed to 90% or any other %)

[javeajag]

44 minutes ago, Lenziejag said:

2 questions. What is your definition of budget ?

What is your reason for arriving at spending 95 % of income. (I mean as opposed to 90% or any other %)

The budget in our case should be projected revenue from all commercial sources spread over three years eg projected revenue Year 1 2.6m Y 2 1.5m Y 3 1.7m which gives 5.7m or 1.9m as a budget per year....this would be updated annually 

95% because that’s pretty much a standard accounting practice to account for unknowns by having a small contingency fund eg drainage issues with the pitch that were not forseen  

[Lenziejag]

5 hours ago, javeajag said:

The budget in our case should be projected revenue from all commercial sources spread over three years eg projected revenue Year 1 2.6m Y 2 1.5m Y 3 1.7m which gives 5.7m or 1.9m as a budget per year....this would be updated annually 

95% because that’s pretty much a standard accounting practice to account for unknowns by having a small contingency fund eg drainage issues with the pitch that were not forseen  

Ok - the difference between your definition and mine is that I took the budget to be the amount that was allowed to spend as opposed to the Revenue budget. 

Are you an accountant ? 

 

[Jordanhill Jag]

3 hours ago, Lenziejag said:

Ok - the difference between your definition and mine is that I took the budget to be the amount that was allowed to spend as opposed to the Revenue budget. 

Are you an accountant ? 

 

I think thats the issue - looking at last Years budget it would seem that we spent our Forecast Income for that Year - now given a large chunk £850K was a one off the approach is that you spread that over three Years so that your not having big income  drops each  Year and spreading this "windfall" one off payment 

Instead if Im reading it correctly - it went in a single Year    

[Lenziejag]

25 minutes ago, Jordanhill Jag said:

I think thats the issue - looking at last Years budget it would seem that we spent our Forecast Income for that Year - now given a large chunk £850K was a one off the approach is that you spread that over three Years so that your not having big income  drops each  Year and spreading this "windfall" one off payment 

Instead if Im reading it correctly - it went in a single Year    

Where are you seeing this budget for last year ?  

 

[Jordanhill Jag]

49 minutes ago, Lenziejag said:

Where are you seeing this budget for last year ?  

 

It was stated at the AGM in December 

[javeajag]

5 hours ago, Lenziejag said:

Ok - the difference between your definition and mine is that I took the budget to be the amount that was allowed to spend as opposed to the Revenue budget. 

Are you an accountant ? 

 

Thankfully no but I’ve managed big budgets 

[javeajag]

42 minutes ago, Jordanhill Jag said:

It was stated at the AGM in December 

Indeed it was 

[javeajag]

According to the press office of the Scottish Football Supporters Association there will be more information on the takeover tomorrow 

[javeajag]

I think we can take it that the takeover is real 

https://www.heraldscotland.com/sport/17744435.gary-caldwell-back-partick-thistle-board-to-make-right-call-on-firhill-takeover/

[jagfox]

Quote

GARY Caldwell has stressed he is comfortable about the prospect of Partick Thistle being taken over by a wealthy international consortium and confident he will be kept on as manager if the Firhill club is sold.

Directors of the Ladbrokes Championship outfit have been in talks with a group that already owns OGC Nice and Barnsley and involves billionaire Chinese-American entrepreneur Chien Lee.

Caldwell revealed he has not been told anything about the ongoing negotiations, but stressed he has complete faith in the Jags board to do what is best for the future of the Maryhill club.

“I don’t know anything about the takeover talk,” he said. “I’ve been fully focused on a training trip to La Manga where the boys were excellent and worked extremely hard.

“The one thing I’ll say about this club is the honesty and when things need to be said then I’ll be told and we can deal with it as a football club.

“But as yet I haven’t heard anything so it’s speculation. It’s a busy period with double sessions and recruitment so it’s long days and that’s the focus.

“This is the best board I’ve worked with by a long way in their strategic approach to everything and open and honest way they deal with everything.

“There’s a board meeting every four or five weeks where I find out everything about the club and I have to give them an update on the football side of things.”

The former Hibernian, Celtic and Scotland centre half, who took over from Alan Archibald as manager back in October, is positive his services will be retained if Partick are sold.

Caldwell added: “I’m excited if something happens and it’s beneficial for the club, but I don’t worry about it. I believe in myself and the qualities I have to do the job.

“And if someone came in I believe they would see those qualities and keep me on board but of course if something does change then there’s possibilities that change could happen.”

Caldwell, who this week signed Kenny Miller and Scott Fox, is looking to add more new recruits to his squad in the coming days.

“The key in this window has been patience,” he said. “In January we hit the ground running and got a real boost early with players and then we topped it up.

“In this window it’s felt like a signing here and there, but it’s not for the want of trying. We’ve been pushing in certain things that haven’t dropped but we’ll keep looking as we need depth in the attacking areas.

“We look strong from one to eleven but I think that we still need competition within the squad, especially in the attacking areas.”

 

[Norgethistle]

9 minutes ago, jagfox said:

 

“This is the best board I’ve worked with by a long way “

 

Well they are the only one that hasn’t fired him

[Jordanhill Jag]

1 minute ago, Norgethistle said:

“This is the best board I’ve worked with by a long way “

 

Well they are the only one that hasn’t fired him

In fairness the Headline is Misleading - he doesnt Back the Board in making the Right Call on Takeover - he sort of sits on the Fence ( rightly so ) 

Frankly if there is over 50% of Shareholders want this to go through - Board have to act in the interests of the Shareholders - thats there legal position - what they or indeed Fans think is irrelevant - its the Shareholders the Board work for - no one else 

[Auld Jag]

6 minutes ago, Norgethistle said:

“This is the best board I’ve worked with by a long way “

 

Well they are the only one that hasn’t fired him

Give them time.

[Third Lanark]

22 minutes ago, Norgethistle said:

“This is the best board I’ve worked with by a long way “

 

Well they are the only one that hasn’t fired him

He has hardly had any grounds for being sacked though 

[Lenziejag]

2 hours ago, Jordanhill Jag said:

It was stated at the AGM in December 

Ok - I am not a shareholder, so didn’t see it.

[lady-isobel-barnett]

1 hour ago, Third Lanark said:

He has hardly had any grounds for being sacked though 

Really?  

[Third Lanark]

8 hours ago, Jordanhill Jag said:

I think thats the issue - looking at last Years budget it would seem that we spent our Forecast Income for that Year - now given a large chunk £850K was a one off the approach is that you spread that over three Years so that your not having big income  drops each  Year and spreading this "windfall" one off payment 

Instead if Im reading it correctly - it went in a single Year    

I know it’s not £850k and it is still a one off but have we not just had a cash injection of £750k from Liam Lindsay sell on and Fitzpatrick selling fee

[Jordanhill Jag]

1 hour ago, Third Lanark said:

I know it’s not £850k and it is still a one off but have we not just had a cash injection of £750k from Liam Lindsay sell on and Fitzpatrick selling fee

Yes - but you cant budget for these type of Windfalls - you use a part of them then put the rest in Reserves as at some point you will need them 

 

[Lenziejag]

6 hours ago, Third Lanark said:

I know it’s not £850k and it is still a one off but have we not just had a cash injection of £750k from Liam Lindsay sell on and Fitzpatrick selling fee

We’ve sold Fitzpatrick ? I missed that one.

[javeajag]

Getting complicated ?

https://www.dailymail.co.uk/sport/football/article-7207281/Takeover-Partick-Thistle-faces-EFL-obstacle-consortium-breach-dual-ownership-rules.html

[jagfox]

37 minutes ago, javeajag said:

Getting complicated ?

https://www.dailymail.co.uk/sport/football/article-7207281/Takeover-Partick-Thistle-faces-EFL-obstacle-consortium-breach-dual-ownership-rules.html

Reads like another rehash but interesting that one of the consortium was at Firhill yesterday. Not sure of timescales but the recent sale of Nice started back in April so could be a while yet until any change of ownership.

[jaf]

5 minutes ago, jagfox said:

Reads like another rehash but interesting that one of the consortium was at Firhill yesterday. Not sure of timescales but the recent sale of Nice started back in April so could be a while yet until any change of ownership.

They will need to do due  diligence etc. Which can only be done with the acquiescence of the board.  Yesterday probably influences much that is still to develop. 

As for the dual ownership matter, I think written consent form the efl is just a hurdle to be got over like fit and proper with the sfa    Permissions like this are part of many deals in many industry sectors and they are just being magnified because it’s football  

 

[javeajag]

13 minutes ago, jagfox said:

Reads like another rehash but interesting that one of the consortium was at Firhill yesterday. Not sure of timescales but the recent sale of Nice started back in April so could be a while yet until any change of ownership.

Does say 55% have agreed to sell their shares .....who was at firhill ?