javeajag Posted October 25, 2021 Report Share Posted October 25, 2021 A big announcement from the club is due this lunchtime Quote Link to comment Share on other sites More sharing options...
jaggymct Posted October 25, 2021 Report Share Posted October 25, 2021 (edited) https://ptfc.co.uk/ptfc-news/joint-statement-on-progress-towards-transfer-of-majority-shareholding-to-fans/ The proposed date for the transfer of the majority shareholding to fans and land to the Club is set for June 2022. " Edited October 25, 2021 by jaggymct Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 25, 2021 Report Share Posted October 25, 2021 You can now sign up as a member of The Jags Foundation: https://thejagsfoundation.co.uk/join-the-jags-foundation-today/ Quote Link to comment Share on other sites More sharing options...
Garscube Road End 2 Posted October 26, 2021 Report Share Posted October 26, 2021 A fans run club? Certainly doesn't look like it with the statement being issued. Invites to TJT to join the board? As someone who is against fan ownership, I won't be signing up and wasting my money on this. Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 26, 2021 Author Report Share Posted October 26, 2021 3 hours ago, Garscube Road End 2 said: A fans run club? Certainly doesn't look like it with the statement being issued. Invites to TJT to join the board? As someone who is against fan ownership, I won't be signing up and wasting my money on this. I think this would have been a more accurate post ‘As someone who is against ( please insert something to do with ptfc)’ Quote Link to comment Share on other sites More sharing options...
Dick Dastardly Posted October 26, 2021 Report Share Posted October 26, 2021 As someone who is against people who can’t accept criticism of PTFC … 1 Quote Link to comment Share on other sites More sharing options...
Dick Dastardly Posted October 26, 2021 Report Share Posted October 26, 2021 Actually I am broadly in favour of fan ownership. It should preserve the long term future of the club, but probably puts a ceiling on what we can achieve. I’d much rather this than a rich sugar daddy buying success. If what happened to Newcastle happened to us, I’d walk. Quote Link to comment Share on other sites More sharing options...
Duke Gekantawa Posted October 26, 2021 Report Share Posted October 26, 2021 10 minutes ago, Dick Dastardly said: Actually I am broadly in favour of fan ownership. It should preserve the long term future of the club, but probably puts a ceiling on what we can achieve. I’d much rather this than a rich sugar daddy buying success. If what happened to Newcastle happened to us, I’d walk. I couldn't agree more. Quote Link to comment Share on other sites More sharing options...
eljaggo Posted October 26, 2021 Report Share Posted October 26, 2021 This does not seem to me to be a healthy arrangement for a fan run club. If the fans have a majority shareholding, they should decide who sits on the Board, and certainly not be conditional on an invitation and vetting by the TBC dominated Board. This is window dressing plain and simple, and the Club will still be run by Jacqui Low and her appointees. Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 26, 2021 Author Report Share Posted October 26, 2021 I think re reading the statement might be helpful to distinguish the period between now and June 2022 ( club owned by 3BC) and after June 2022 ( club owned by TJF) …. Quote Link to comment Share on other sites More sharing options...
Garscube Road End 2 Posted October 26, 2021 Report Share Posted October 26, 2021 5 hours ago, javeajag said: I think this would have been a more accurate post ‘As someone who is against ( please insert something to do with ptfc)’ Ah! Your usual' You must not speak ill of the sacred cow that is Partick Thistle FC ' 1 Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted October 27, 2021 Report Share Posted October 27, 2021 21 hours ago, javeajag said: I think re reading the statement might be helpful to distinguish the period between now and June 2022 ( club owned by 3BC) and after June 2022 ( club owned by TJF) …. I think people have done that - and come to there own conclusions ........ In any Company the Majority Shareholders decide who and how the Company is run - I struggle to see how PTFC should be any different - otherwise what is the point of Fan Ownership Colin Weir wanted Fan Ownership that means the Fans decide on the Who & the How 1 Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 27, 2021 Report Share Posted October 27, 2021 3 hours ago, Jordanhill Jag said: I think people have done that - and come to there own conclusions ........ In any Company the Majority Shareholders decide who and how the Company is run - I struggle to see how PTFC should be any different - otherwise what is the point of Fan Ownership Colin Weir wanted Fan Ownership that means the Fans decide on the Who & the How Hi Jim, long time no see - hope you are keeping okay. I was on a zoom meeting a while ago and how it was explained to me was this. Once the shares are transferred there would be a director from the existing board stepping down each year to be replaced by someone elected from TJF. I don't know if that has changed or not but these things I am sure will be explained in more detail as we move towards June. Quote Link to comment Share on other sites More sharing options...
eljaggo Posted October 27, 2021 Report Share Posted October 27, 2021 Why then do these would be directors need to be vetted by Low et al? Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 27, 2021 Report Share Posted October 27, 2021 16 minutes ago, eljaggo said: Why then do these would be directors need to be vetted by Low et al? I don't have all the answers, just trying to share what was explained to me. 1 Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted October 27, 2021 Report Share Posted October 27, 2021 5 hours ago, eljaggo said: Why then do these would be directors need to be vetted by Low et al? Because they do - stop asking awkward questions … Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted October 27, 2021 Report Share Posted October 27, 2021 5 hours ago, Fawlty Towers said: Hi Jim, long time no see - hope you are keeping okay. I was on a zoom meeting a while ago and how it was explained to me was this. Once the shares are transferred there would be a director from the existing board stepping down each year to be replaced by someone elected from TJF. I don't know if that has changed or not but these things I am sure will be explained in more detail as we move towards June. So are they saying that the Majority Shareholders cannot get five competent people from our Fanbase to run a £2MN Turnover Company and that it needs a five year handover period ? and the current board will Vet future Directors - how is this Fan Ownership on any level ? Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 28, 2021 Report Share Posted October 28, 2021 6 hours ago, Jordanhill Jag said: So are they saying that the Majority Shareholders cannot get five competent people from our Fanbase to run a £2MN Turnover Company and that it needs a five year handover period ? and the current board will Vet future Directors - how is this Fan Ownership on any level ? I am not an expert but I would imagine before anyone becomes a director they must go through some process. Again, from memory, new directors would be coming from TJF so they would be responsible for ensuring they were competent. I believe TJF are going to holding a meeting soon so hopefully these issues will be clarified by those who know the detail better than I. Quote Link to comment Share on other sites More sharing options...
Dick Dastardly Posted October 28, 2021 Report Share Posted October 28, 2021 Surely with any company, the majority shareholders can oust any directors. Otherwise, how can the directors be held to account ? Quote Link to comment Share on other sites More sharing options...
Lenziejag Posted October 28, 2021 Report Share Posted October 28, 2021 2 hours ago, Dick Dastardly said: Surely with any company, the majority shareholders can oust any directors. Otherwise, how can the directors be held to account ? Probably can only be done at a special meeting of the shareholders. Quote Link to comment Share on other sites More sharing options...
Dick Dastardly Posted October 28, 2021 Report Share Posted October 28, 2021 2 hours ago, Lenziejag said: Probably can only be done at a special meeting of the shareholders. Which would be within the power of the majority shareholders. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 28, 2021 Report Share Posted October 28, 2021 21 hours ago, Fawlty Towers said: Hi Jim, long time no see - hope you are keeping okay. I was on a zoom meeting a while ago and how it was explained to me was this. Once the shares are transferred there would be a director from the existing board stepping down each year to be replaced by someone elected from TJF. I don't know if that has changed or not but these things I am sure will be explained in more detail as we move towards June. This should be up to the shareholders (The Jags Foundation or basically us) to decide how quickly we want to transition from a token member to our board, and whether it’s a 3 person board or a 300 person board. Getting involved allows our voice to be stronger and louder so we get the club and board we want. If though we all get involved and it’s not our board and is still controlled from a 3rd party then the club is dead. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 28, 2021 Report Share Posted October 28, 2021 I have attached a link to the FAQs from TJF's website which outlines the approach to some of the issues raised here. Also, their twitter page states they will be having a meeting soon so that should help clarify things as well. https://thejagsfoundation.co.uk/faq/ Quote Link to comment Share on other sites More sharing options...
Dick Dastardly Posted October 28, 2021 Report Share Posted October 28, 2021 Interesting to read that it is possible to sell the majority shareholding. If that was done, who would get the proceeds of the sale. I would assume distributed evenly between the members. If the proceeds were to go to the club, effectively someone could buy and immediately get their money back as they would now own the club. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 28, 2021 Report Share Posted October 28, 2021 1 hour ago, Dick Dastardly said: Interesting to read that it is possible to sell the majority shareholding. If that was done, who would get the proceeds of the sale. I would assume distributed evenly between the members. If the proceeds were to go to the club, effectively someone could buy and immediately get their money back as they would now own the club. So if the shareholders got the cash split, then say we had 500 members all a takeover company would need to do is buy 501 individual memberships, carry the vote and recoup half their cost of buying it. Surely it wouldn’t be that easy for £5000 a month (plus a payment to create an account and be a proxy vote).? Quote Link to comment Share on other sites More sharing options...
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