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Twitter news - Directors resigning


Aliballibee
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For those not on Twitter:

Big news for

fans. My info is that chair Jacqui Low and all but one of the directors are to step away, with the Firhill club preparing to accept their resignations.

https://twitter.com/Kheredine2018/status/1600466555107614722?s=20&t=2x2eqFi-qgZCfu80-6KIVg

Any other info available?

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Partick Thistle Football Club statement

Wednesday 7th December, 2022 at 3:45pm

 

With immediate effect, the club can confirm that seven directors of Partick Thistle FC have resigned. They are chairman Jacqui Low and fellow directors Andrew Byron, Alan Caldwell, Douglas Noble, John Penman, Michael Robertson and Alan Rough MBE – they have informed the PTFC Trust of their decision and the resignations have been accepted.

 

There will be no further comment by the club today. The full focus of the club’s CEO, staff, management team and players is on our home fixture against Ayr United a week on Saturday

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All of this might be obvious to everyone but………

·         I wonder if,  by operating without a quorate Board of Directors who have been approved by the SFA as “fit and proper persons”, we may be in breach of their regulations

·         Similarly, those of the SPFL

·         Indeed, could we find ourselves liable to a points deduction for breaches of which we are unaware?

·         What are the powers delegated to the CEO by the previous Board and to whom does he refer in the light of encountering issues outwith these delegated powers?

·         On the assumption that the CEO may pay bills up to an agreed limit, I would presume that the authority of the Board would be required for sums in excess of that limit. So who authorises such payments in the interim period and how does the bank process them without the authority of the previous incumbents?

·         Further to the financial aspects raised above, how could PTFC operate in the transfer window in January 2023?

This may well already be in hand, but an emergency EGM needs to be convened by shareholders (in this case the PTFC Trust) to elect a Board of Directors and they need SFA agreement to fast track their approval of those elected.

They (in this context it has to be the PTFC Trust though they could co-opt others to assist them) need to approach the SFA and SPFL to ensure that we will not fall foul of their regulations.

The first item of expenditure should be to commission a comprehensive audit of the club's finances so that those who find themselves at the helm are in no illusions about the true position.

We also need to dispel the myth about the Board running away from abuse etc. I think that, despite getting their own way in the end, they were spooked by the scrutiny they were subjected to at the AGM. If I had been one of them, that would have concerned me more!

The solution they found was to abrogate their responsibilities in the confident expectation of things falling apart,with a potential on-field impact which would divide the support and allow them to return to rescue the situation!

QED, anyone celebrating needs to appreciate that unless the heirs apparent act quickly and decisively this will be a pyrrhic victory!

Nothing above will be a sensational revelation to those involved, just a catharsis for me to write it since these developments, while welcome in many respects, are not without major challenges!

We can only wish those facing them the very best since the future of our club depends on them.

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If we are in breach of regulations as a result of their mass resignation, that tells you everything about their professionalism or lack thereof. In fact, even if we are not breaching regulations, I still think their hasty exit was highly unprofessional. They should've given notice of their intention to resign and allowed some time for new directors to be appointed.

Or is that not how it happens in the business world?

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