javeajag Posted March 3, 2022 Author Report Share Posted March 3, 2022 5 hours ago, sandy said: Is the JF push for members simply to make them credible or is the clubs balance sheet going south even with Black Cats support @javeajag Not sure why your asking me …..as the club is currently debt free I wouldn’t think so Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 3, 2022 Report Share Posted March 3, 2022 1 minute ago, javeajag said: Not sure why your asking me …..as the club is currently debt free I wouldn’t think so There’s debt free and truly balancing the books, and having no substantial near liabilities upcoming. if what’s posted on Pie and Bovril (and mentioned and shown on Twitter) is true there’s a £500k outgoing from 3BC and also a £500k (other operating income) coming into the club’s accounts. If those 2 are connected then rather than the club being handed over debt free, it’s being handed over with a £500k operating deficit which will need plugged on top of some urgent and significantly costly work around Firhill. Im no accountant but there seems to be some traction behind this so as fans entering a crucial stage of ownership handover and engagement ramping up, this needs looking into to see if it is what it seems at face value (£500k + deficit). Quote Link to comment Share on other sites More sharing options...
sandy Posted March 4, 2022 Report Share Posted March 4, 2022 5 hours ago, javeajag said: Not sure why your asking me …..as the club is currently debt free I wouldn’t think so Because you are pushing the JF membership Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 2 hours ago, sandy said: Because you are pushing the JF membership In that I’m suggesting there is no current alternative to fan ownership ( something historically I have been very lukewarm about ) but we are where we are so we might as well try and make it work Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 7 hours ago, Norgethistle said: There’s debt free and truly balancing the books, and having no substantial near liabilities upcoming. if what’s posted on Pie and Bovril (and mentioned and shown on Twitter) is true there’s a £500k outgoing from 3BC and also a £500k (other operating income) coming into the club’s accounts. If those 2 are connected then rather than the club being handed over debt free, it’s being handed over with a £500k operating deficit which will need plugged on top of some urgent and significantly costly work around Firhill. Im no accountant but there seems to be some traction behind this so as fans entering a crucial stage of ownership handover and engagement ramping up, this needs looking into to see if it is what it seems at face value (£500k + deficit). As there are fan representatives on the board they will see the monthly accounts and know the financial position of the club which is debt free Quote Link to comment Share on other sites More sharing options...
scotty Posted March 4, 2022 Report Share Posted March 4, 2022 7 hours ago, Norgethistle said: There’s debt free and truly balancing the books, and having no substantial near liabilities upcoming. if what’s posted on Pie and Bovril (and mentioned and shown on Twitter) is true there’s a £500k outgoing from 3BC and also a £500k (other operating income) coming into the club’s accounts. If those 2 are connected then rather than the club being handed over debt free, it’s being handed over with a £500k operating deficit which will need plugged on top of some urgent and significantly costly work around Firhill. Im no accountant but there seems to be some traction behind this so as fans entering a crucial stage of ownership handover and engagement ramping up, this needs looking into to see if it is what it seems at face value (£500k + deficit). I agree with you that due diligence needs to be done but if we're doing this on the back of posts from P&B then it's not at all diligent. Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 5 hours ago, scotty said: I agree with you that due diligence needs to be done but if we're doing this on the back of posts from P&B then it's not at all diligent. There are fan representatives on the Board and they are legally entitled to see the accounts and finances. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 14 minutes ago, javeajag said: There are fan representatives on the Board and they are legally entitled to see the accounts and finances. But under Non Disclosure Agreements they would not be able to tell the fans without pre-approval from the chair. Which I’d why due diligence is needed as this will put this to rest one way or another Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 5 hours ago, scotty said: I agree with you that due diligence needs to be done but if we're doing this on the back of posts from P&B then it's not at all diligent. Both accounts have snippets put there, both sets of accounts have been shared (via link to companies house) on Twitter, from what I’ve seen from the figures and snippets posted they are from the actual accounts Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 1 hour ago, Norgethistle said: But under Non Disclosure Agreements they would not be able to tell the fans without pre-approval from the chair. Which I’d why due diligence is needed as this will put this to rest one way or another You’ve just invented non disclosure agreements that do not exist Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 2 hours ago, javeajag said: You’ve just invented non disclosure agreements that do not exist Are you honestly saying there is no non-disclosure/ confidentiality agreement signed by board members? You must have a very short memory as this was a major issue when the Jags Trust got a member on the board, he was on the board but couldn’t report back to them or it’s members because of it. Almost any board or any position within a company where the person has access to business critical information (financials, IP etc) has to sign then. Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 22 minutes ago, Norgethistle said: Are you honestly saying there is no non-disclosure/ confidentiality agreement signed by board members? You must have a very short memory as this was a major issue when the Jags Trust got a member on the board, he was on the board but couldn’t report back to them or it’s members because of it. Almost any board or any position within a company where the person has access to business critical information (financials, IP etc) has to sign then. All well and good but your post is all speculation and you haven’t seen a non disclosure agreement in the current situation but are suggesting one exists with no evidence presented you can be on a Board and be bound by a duty of confidentiality that is not asubject to a specific non disclosure agreement the substantive point being there is due diligence being done on the clubs finances by the jags foundation Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 12 minutes ago, javeajag said: the substantive point being there is due diligence being done on the clubs finances by the jags foundation That has yet to be done or confirmed it will be done Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 27 minutes ago, Norgethistle said: That has yet to be done or confirmed it will be done As I understood it from the meeting it is being done Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 17 minutes ago, javeajag said: As I understood it from the meeting it is being done It’s being done towards foundation not the opposite way Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 2 minutes ago, Norgethistle said: It’s being done towards foundation not the opposite way No it’s being done both ways …At least that’s what I was told Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 2 hours ago, javeajag said: No it’s being done both ways …At least that’s what I was told It’s wasn’t earlier this week Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 4, 2022 Author Report Share Posted March 4, 2022 20 minutes ago, Norgethistle said: It’s wasn’t earlier this week Jesus like our accounts are soo complicated … it will take what an hour ? Just keep being negative Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted March 4, 2022 Report Share Posted March 4, 2022 We will have volunteers out and about in both the Jackie Husband and John Lambie stands ahead of tonight's match against Inverness. They'll have leaflets and will be happy to chat and answer any questions you might have about The Jags Foundation. Did anyone at the game tonight take the opportunity to speak to one of the guys? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted March 4, 2022 Report Share Posted March 4, 2022 40 minutes ago, Fawlty Towers said: We will have volunteers out and about in both the Jackie Husband and John Lambie stands ahead of tonight's match against Inverness. They'll have leaflets and will be happy to chat and answer any questions you might have about The Jags Foundation. Did anyone at the game tonight take the opportunity to speak to one of the guys? Think one (Stuart) was also popping into the Woody to talk to folk before the game to. It’s good to see them upping the engagement Quote Link to comment Share on other sites More sharing options...
jaggy Posted March 5, 2022 Report Share Posted March 5, 2022 2 hours ago, Fawlty Towers said: We will have volunteers out and about in both the Jackie Husband and John Lambie stands ahead of tonight's match against Inverness. They'll have leaflets and will be happy to chat and answer any questions you might have about The Jags Foundation. Did anyone at the game tonight take the opportunity to speak to one of the guys? Unfortunately I got in a minute after kickoff. I got a leaflet offered but as I'm already a member I didn't take it. My 3 mates took one each though Quote Link to comment Share on other sites More sharing options...
sandy Posted March 5, 2022 Report Share Posted March 5, 2022 17 hours ago, javeajag said: Jesus like our accounts are soo complicated … it will take what an hour ? Just keep being negative @Norgethistle isn’t negative, he just asks the right questions. And why not after years of smoke & mirrors from the Club Board? 1 Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 5, 2022 Author Report Share Posted March 5, 2022 2 minutes ago, sandy said: @Norgethistle isn’t negative, he just asks the right questions. And why not after years of smoke & mirrors from the Club Board? So you are asking us to believe that a. the club intends to pull one over on fan ownership ( and the club here means Jacqui low) for unspecified reasons and objectives and b. The jags foundation are not smart enough to work out they need to do due diligence on the finances and obligations that are being handed over but I’m sure you will speculate away Quote Link to comment Share on other sites More sharing options...
Garscube Road End 2 Posted March 5, 2022 Report Share Posted March 5, 2022 1 hour ago, javeajag said: So you are asking us to believe that a. the club intends to pull one over on fan ownership ( and the club here means Jacqui low) for unspecified reasons and objectives and b. The jags foundation are not smart enough to work out they need to do due diligence on the finances and obligations that are being handed over but I’m sure you will speculate away I wouldn't trust Low as far as I could spit. Quote Link to comment Share on other sites More sharing options...
javeajag Posted March 5, 2022 Author Report Share Posted March 5, 2022 35 minutes ago, Garscube Road End 2 said: I wouldn't trust Low as far as I could spit. Who cares tbh Quote Link to comment Share on other sites More sharing options...
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