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Dialogue With The Group Chosen By 3BCs/ PTFC Board To Receive The 55% Shareholding In PTFC


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1 hour ago, Dick Dastardly said:

So why all the earlier shenanigans around due diligence ?

If TJF needed due diligence to accept the shares from 3BC, why would they not need it to accept them from PTFC Trust ? 

(I know they are not on offer, so this is hypothetical, but surely the same rules would apply)

Due diligence would have prevented TJF inheriting shares from a Club losing money or only kept afloat due to 3BC money. 

Any potential majority shareholder would want to ensure they knew what they were taking on. But I’m not sure PTFC Trust saw it the same way…

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The issues around the results of due diligence have not gone away…..we now 

1. need to know the actual financial position of the club, lots of questions and unknowns remain. We should now commission an independent review of the clubs financial position. We will then know where we are starting from.

2. an independent appraisal of the stadium should also be undertaken so we know where we are with any major issues.

the objective of DD was to find these things out, whilst the shares have been transferred the questions remain unanswered.

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39 minutes ago, javeajag said:

The issues around the results of due diligence have not gone away…..we now 

1. need to know the actual financial position of the club, lots of questions and unknowns remain. We should now commission an independent review of the clubs financial position. We will then know where we are starting from.

2. an independent appraisal of the stadium should also be undertaken so we know where we are with any major issues.

the objective of DD was to find these things out, whilst the shares have been transferred the questions remain unanswered.

Exactly !!!

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2 hours ago, Dick Dastardly said:

So why all the earlier shenanigans around due diligence ?

If TJF needed due diligence to accept the shares from 3BC, why would they not need it to accept them from PTFC Trust ? 

(I know they are not on offer, so this is hypothetical, but surely the same rules would apply)

The PTFC Trust chose to accept the Shares without DD - that was there decision 

However TJF & the PTFC Trust are pretty much as one these days so Im assuming that  reviews will be ongoing

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Tuesday 13th December, 2022 at 10:37am

Following the first meeting of the new Board of Partick Thistle FC on Monday, the club is pleased to confirm the appointment of Duncan Smillie as interim chair until the end of the season.

This appointment helps add stability and business continuity to the new board of directors as they work together in unity through the rest of the year and into 2023.

While we anticipate another update soon as we further strengthen the interim Board, for now all attentions remain firmly focussed on Saturday’s cinch Championship home match against Ayr United.

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20 minutes ago, jagfox said:

Tuesday 13th December, 2022 at 10:37am

Following the first meeting of the new Board of Partick Thistle FC on Monday, the club is pleased to confirm the appointment of Duncan Smillie as interim chair until the end of the season.

This appointment helps add stability and business continuity to the new board of directors as they work together in unity through the rest of the year and into 2023.

While we anticipate another update soon as we further strengthen the interim Board, for now all attentions remain firmly focussed on Saturday’s cinch Championship home match against Ayr United.

An update on the finances would be appreciated 

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On 12/13/2022 at 11:01 AM, javeajag said:

An update on the finances would be appreciated 

Quote: “…as they work together in unity through the rest of the year and into  2023.”

And the unwritten subtext should be…

…..using a blank canvas, considering ALL approaches in attempting to bring the club and fans together, in pursuing a genuine democratic model of community majority fan ownership of PTFC acceptable to….ALL …..including ALL supporters.

The mistakes of the previous ‘regime’  cannot be allowed to be repeated and if “unity” is to last far “into 2023” and beyond, changes of approach and crucially “outcome” MUST be on the agenda of the new board. For, without that, there can be no lasting “unity.” These are the painful lessons of the last couple of years, at PTFC, learned at no little cost by all concerned.

Edited by denismcquadeno.eleven
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46 minutes ago, lady-isobel-barnett said:

Found this to be a very good article, clear and to the point.

Water under the bridge and all that but still worth a read.

 

https://www.glasgowtimes.co.uk/sport/23212501.jags-good-gave-ray-bradshaw-hope-thistles-hectic-year/

Good article LIB. Summarises the feelings over the last few weeks.

Time to kick onwards as a Club likely to be in the hands of the majority of fans. 

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