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[JAG1970]

1 hour ago, Lenziejag said:

I think in fairness it is difficult to take the years ending in May 2020 and 2021 as typical for any club. Having said that, I am astonished at some of the increases in the cash reserves of some of the clubs.

Presumably the 500k payment to championship clubs last season versus the 150k we received explains a fair chunk of the gap? 

[jaf]

6 hours ago, jaggymct said:

i managed to get a response from someone in TJF via twitter at the weekend and was told they are committed to "a form of DD" and thier legal advice has been   that its "difficult for us to demand a traditional DD with a £5m asset being gifted to us." i guess if TJF were buying the shares they could demand this but we are being gifted them and so 3BC and PTFC need to co-operate fully, which it seesm thay are reluctant to do.

Questions have been asked in recent weeks re the accounts of both PTFC and 3BC and they are still awaiting the answers to these questions ....    seems to be a case of not being able to force traditional DD rather than not wanting to.  They "have been assured everything is in hand and we are a sustainable club" 

its also worth noting they are all doing this in spare time and so its bound to take longer than everyone would ideally want

 

They started doing “a form of due diligence” four and a half months ago.  And yet they don’t know much. 
It’s absolutely correct it cannot be legally demanded.  But at least be honest with members about why you can’t do it.  They are operating more like the three black cats PR department twisting words like “a form of due diligence” instead of considering their members first and foremost in my opinion.  Knowing from my time involved the opinions some of them hold re fans who are awkward and ask questions, that’s not really a surprise to me. 

[jaf]

3 hours ago, JAG1970 said:

Presumably the 500k payment to championship clubs last season versus the 150k we received explains a fair chunk of the gap? 

150k plus 500k = 650k with lower costs from operating a division lower

500k plus 0k = 500k with higher costs 

Thats  the first point

The second point is look at the increases in cash from teams in our division, and below.  They still are way better than us.  
 

So I don’t accept the championship point because they didn’t have 500k from 3bc, but even if I did why are we worse off than teams in our and lower division?

 

 

 

[Norgethistle]

11 minutes ago, jaf said:

They started doing “a form of due diligence” four and a half months ago.  And yet they don’t know much. 
It’s absolutely correct it cannot be legally demanded.  But at least be honest with members about why you can’t do it.  They are operating more like the three black cats PR department twisting words like “a form of due diligence” instead of considering their members first and foremost in my opinion.  Knowing from my time involved the opinions some of them hold re fans who are awkward and ask questions, that’s not really a surprise to me. 

Even more reason for why I don’t want to be part of this

[jlsarmy]

1 hour ago, jaf said:

150k plus 500k = 650k with lower costs from operating a division lower

500k plus 0k = 500k with higher costs 

Thats  the first point

The second point is look at the increases in cash from teams in our division, and below.  They still are way better than us.  
 

So I don’t accept the championship point because they didn’t have 500k from 3bc, but even if I did why are we worse off than teams in our and lower division?

 

 

 

Possibly part of the reason is we were a full time team paying full time wages in effectively a part time League 

Not doing due diligence suggests to me that there is there is obviously something they don’t want the supporters group to see .

IMO there should be total transparency 

[Norgethistle]

37 minutes ago, jlsarmy said:

Possibly part of the reason is we were a full time team paying full time wages in effectively a part time League 

Not doing due diligence suggests to me that there is there is obviously something they don’t want the supporters group to see .

IMO there should be total transparency 

Transparency was what was promised (along with communication, and hand over of assets immediately). Unfortunately we got none of these

[jaf]

2 hours ago, jlsarmy said:

Possibly part of the reason is we were a full time team paying full time wages in effectively a part time League 

Not doing due diligence suggests to me that there is there is obviously something they don’t want the supporters group to see .

IMO there should be total transparency 

Falkirk made a profit. They were full time. In the same division.  

[Fawlty Towers]

8 hours ago, jaf said:

Falkirk made a profit. They were full time. In the same division.  

I would need to go back and check but I think Falkirk benefited from a sell on clause for a former player who moved in that period. A bit like QoS who have benefited from Dykes getting international recognition. Not to say that we are managing our finances brilliantly, as I don't think we are, but some other clubs have had money coming in that won't be doing so again. However, they have that money in the bank now and that does give them an edge.

[lady-isobel-barnett]

There's a Jags Foundation update e mail on the go.

[javeajag]

here’s the email….
 

Since the Public Information meeting on Feb 23rd, we have received a lot of feedback on the data shared and queries raised. One of the points of feedback was in the irregularity of updates from TJF, despite a lot going on, it was felt that at least a bi-weekly (once every two weeks) update would be appreciated by the members. This is the first of those.

First up is a brief note to update you on where we are in the discussions with Three Black Cats and the Club on The Jags Foundation taking the “Colin Weir Shareholding”.

A contingent from TJF met with the Chairman, Chief Exec and two PTFC board members on Thursday 17th March. During that meeting we updated everyone on the public meeting, the current status of TJF and on the feedback received during the public meeting. This was a constructive meeting with two major actions highlighted;

1) An item raised included financial queries based on published accounts that some fans and TJF thought would be prudent to ask from public available data. This included matters relating to the pitch, the main stand and the overall operating budget.

The PTFC board agreed that if TJF wished to compose a Q+A sheet (that could be shared with our members) based on those queries and the various interpretations given, that they would quite happily check those answers and offer correction if necessary. Upon receiving the club’s response we will duly feedback that to our members.

2) At the same time, we also presented the 1st draft of the “Working Together” document, this will be the guidelines and rules in how TJF and the club will interact. There be a continuous process to hone that document into its final working edit.

We will continue these meetings on a regular basis and update the membership appropriately.

Other points to note:-

As you may be aware Gavin Taylor stepped down as Chairman from TJF due to work commitments but stays on board as a Director. Gavin has also relinquished his role on the PTFC board, this is now an open position to be filled by a TJF appointee. In the meantime, we have appointed David Brown as Director and Chairman of TJF. We welcome him to the role.

The inaugural TJF AGM will now be held later in the year when we have advanced the Working Together process and can duly advise all the members of the next steps. At this point it would also be prudent to ratify Gavin’s replacement on the PTFC board

All of the roles within TJF are voluntary and like you we are driven by the desire for success of Partick Thistle. We would really appreciate additional help to achieve our goal of securing the majority shareholding and building for that success. E.g. right now we would like to secure some skill sets within the Marketing and Social Media arena. Our current membership stands at just below 500, this is way below our targeted threshold of 1000 members. If you could offer some time to assist in anyway, please contact us by email.

We have been actively canvassing the fans over the past three home games, you may have had a leaflet thrust into your own hands, and what has become clear is some fans are still not fully aware in what we are trying to achieve with TJF but each discussion we believe brings that clarity and hopefully signed up members. If you could potentially support us by joining our directors on match days to galvanize our support and perhaps tell others of why you joined and what you expect as “majority shareholder” please contact us. We are in a very unique position of being able to become a “fan owned” football club securing our legacy and building our future but we don’t have all the answers. This is your organization and we rely on your feedback, communications and engagement to make sure we fulfill that goal. Please continue to do so.

[Jimbo]

1 hour ago, lady-isobel-barnett said:

There's a Jags Foundation update e mail on the go.

Slightly underwhelming but let's hope that the commitment for biweekly updates is kept. At least there is some communication which is more than can be said for JL & her cronies. The silence is deafening. Just not good enough given her commitment to regularly communicate around 18 months ago &, let's face it, there's plenty out outstanding issues - pitch, stadium infrastructure, club finances, etc

I sense there's a bit of a chicken & egg scenario. Fans reluctant to sign up until there's strong evidence that the club is financially sound & the board is fully behind the fan ownership concept. Current BoD unwilling to fully engage until there's evidence that the fans a re prepared to commit to fan ownership via TJF.

[Lenziejag]

20 hours ago, JAG1970 said:

Presumably the 500k payment to championship clubs last season versus the 150k we received explains a fair chunk of the gap? 

Possibly, but wasn’t the payment to compensate for lost income ? 

[sandy]

The TJF email does nothing to address the questions floating around about the extent of 3BC subsidy for the Club. Nothing at all. Yet they know the figures. 

[Norgethistle]

2 hours ago, lady-isobel-barnett said:

There's a Jags Foundation update e mail on the go.

Question & Answer form??

 

Seriously.

Whats you favorite soap?

Who the funniest person at board meetings? 

[erty13]

We have a new Director / Chairman . Did any other members who use this forum get consulted,  or is all the decision making being undertaken on our behalf, by the non member elected board.

erty

[Lenziejag]

On 3/24/2022 at 1:07 PM, Garscube Road End 2 said:

More from P and B

I think whoever did this needs to go back and have another look at their figures. Dunfermline didn’t increase their cash balance by 812K over the 2 years. They had a balance at May 2021 of 830K from 302K at May 2019,but that was after a share issue of £600K and presumably 500K grant. 

 

[joekea]

1 hour ago, Norgethistle said:

Question & Answer form??

 

Seriously.

Whats you favorite soap?

Who the funniest person at board meetings? 

This was what concerned me in the statement. It would appear that the board want to make it so difficult for the TJF to extract relevant information that we end up with questions such as favourite soaps etc. as we get bored with the whole exercise. Now this may also suggest that the Board want to keep the status quo and buy some time to get the finances in order!

[Garscube Road End 2]

This is all looking like an utter shambles, run by the board who have TJF in their back pocket.

[javeajag]

12 minutes ago, Garscube Road End 2 said:

This is all looking like an utter shambles, run by the board who have TJF in their back pocket.

It’s a conspiracy I tell you 

[Garscube Road End 2]

1 minute ago, javeajag said:

It’s a conspiracy I tell you 

Ah! Mr. Deflector.

[policemans whistle]

Suprised at the Falkirk figures. What I hear is that they are in some financial difficulties. Martin Rennie spoke to the Falkirk Herald last week saying they cannot continue  losing money and budgets must be cut. The club have also appointed  3 new directors to help with finances and the club is looking for 3000 fans to contribute £10 per month to help out.  A friend of mine who is a bairns fan and knows someone who nows someone says the debt is horrendous. He told me a figure, but it might be better to keep it quiet at the moment. 

[Lance Gilmour]

4 hours ago, joekea said:

This was what concerned me in the statement. It would appear that the board want to make it so difficult for the TJF to extract relevant information that we end up with questions such as favourite soaps etc. as we get bored with the whole exercise. Now this may also suggest that the Board want to keep the status quo and buy some time to get the finances in order!

As a wise man once said…if you don’t know who the patsy is, it’s probably you 

Edited March 25, 2022 by Lance Gilmour

[javeajag]

6 hours ago, Garscube Road End 2 said:

Ah! Mr. Deflector.

The world awaits your positive solution 

[Garscube Road End 2]

7 hours ago, javeajag said:

The world awaits your positive solution 

The world awaits you picking up your dummy you keep spitting out.

[javeajag]

2 hours ago, Garscube Road End 2 said:

The world awaits you picking up your dummy you keep spitting out.

Not me …. You literally have nothing positive to offer …. Nada