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Q&A With The Board


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2 hours ago, Fawlty Towers said:

The Q&A will now be in the Alan Rough lounge on Tuesday evening, if attending indicate through fanbase to gauge numbers. An update will be provided afterwards.

https://ptfc.co.uk/ptfc-news/update-on-board-qa-event-tuesday-27th-august/

Is there going to be a turnstile? Will I be able to get in before 8pm?

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5 minutes ago, Fawlty Towers said:

So what was the outcome this evening?

I am going for Woodstock Jag beating Jordanhill Jag by way of a technical knockout but with allegations of a low blow when the ref had their backed turned and talk of a rematch.

No idea - due to short notice ref financial statement I couldn't make it 

However - this was a generic Q&A meeting it wasnt to discuss finances or the Tranche 2 proposal 

That has to take place at an EGM with all the Club Financial information to hand so Shareholders ( including fans who own shares via the Trusts ) can make decisions with all the facts and can ask proper Questions

If an EGM does not take place and if TJF allow this to happen -our problems are even bigger than Tranche 2 

Under previous Boards Propco went before an EGM - Tranche 2 is a version of Propco 

 

 

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8 hours ago, Jordanhill Jag said:

No idea - due to short notice ref financial statement I couldn't make it 

However - this was a generic Q&A meeting it wasnt to discuss finances or the Tranche 2 proposal 

There was no “outcome” as such. JJ”s description of the event as above is absolutely correct. A long list of random questions on numerous topics,, some pre-submitted, some from the floor, were asked and answered.

A few of these related to finances and Tranche 2, but there was no detailed analysis or formal discussion, and certainly there was no decision taken.

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1 hour ago, partickthedog said:

There was no “outcome” as such. JJ”s description of the event as above is absolutely correct. A long list of random questions on numerous topics,, some pre-submitted, some from the floor, were asked and answered.

A few of these related to finances and Tranche 2, but there was no detailed analysis or formal discussion, and certainly there was no decision taken.

What were your overall impressions from the evening?

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1 minute ago, 1876 said:

According to the board last night the new ptfc lotto is down 25% from the last  clubs lottery  

Probably not surprising. Many people let these things continue rather than make an effort to cancel direct debits or standing orders.

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1 hour ago, 1876 said:

According to the board last night the new ptfc lotto is down 25% from the last  clubs lottery  

OK So we are clear we had the Centenary Fund  that ran for Years - minimal admin - decent passive income 

The Board decide to change it ( and as the norm people don't swap over Standing Orders etc ) 

So we lost 25% of that passive income for No reason 

Given the perilous state of our finances - given we are 11 points adrift of the League Leaders in August etc etc 

Despite this - the Board then think 

"I know - lets stop the Centenary Fund that's worked for Years "   

Now its not massive sum of cash - but its decent passive revenue 

 Fans ( & those calling the shots TJF - Trust etc ) have to realise 

Our Board quite literally - cannot Run A Raffle 

And the same people want us to sell off more Assets-  and give them another £500K ? - NO CHANCE 

What Colour is the Sky in PTFC Corporate World these days ? 

This PTFC Documentary has the Sunderland FC Netflix debacle written all over it - it will be like watching a Carcrash in Slow Motion  😞    

What Next ? Martin Bain is joining the Board ? 

 

 

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Could someone please disable italics on this forum?

Kind regards from the bold and underlined communities.

The Club decided to move from the Centenary fund platform partly to avoid certain regulatory compliance issues, which had been left unresolved for a number of years. I believe this was identified as a legacy issue almost two years ago, inherited from the board in the 3BC era.

Part of the issue in terms of budgeted shortfall on the Lottery is obviously a change of platform (though the idea that the Centenary Fund was "passive" income, given what it required in terms of administration is, to put it kindly, questionable).

As the Club Board explained yesterday at the Q&A, part of the reason they want to recruit more capacity to the media team is so that commercial and fan revenue streams can be more effectively promoted than they are at the moment.

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1 hour ago, Jordanhill Jag said:

OK So we are clear we had the Centenary Fund  that ran for Years - minimal admin - decent passive income 

The Board decide to change it ( and as the norm people don't swap over Standing Orders etc ) 

So we lost 25% of that passive income for No reason 

Given the perilous state of our finances - given we are 11 points adrift of the League Leaders in August etc etc 

Despite this - the Board then think 

"I know - lets stop the Centenary Fund that's worked for Years "   

Now its not massive sum of cash - but its decent passive revenue 

 Fans ( & those calling the shots TJF - Trust etc ) have to realise 

Our Board quite literally - cannot Run A Raffle 

And the same people want us to sell off more Assets-  and give them another £500K ? - NO CHANCE 

What Colour is the Sky in PTFC Corporate World these days ? 

This PTFC Documentary has the Sunderland FC Netflix debacle written all over it - it will be like watching a Carcrash in Slow Motion  😞    

What Next ? Martin Bain is joining the Board ? 

 

 

What about the 800 club which was doing alright till one of the many previous boards we have had decided to stop it with no consultation with the members.

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1 hour ago, Woodstock Jag said:

Could someone please disable italics on this forum?

Kind regards from the bold and underlined communities.

The Club decided to move from the Centenary fund platform partly to avoid certain regulatory compliance issues, which had been left unresolved for a number of years. I believe this was identified as a legacy issue almost two years ago, inherited from the board in the 3BC era.

Part of the issue in terms of budgeted shortfall on the Lottery is obviously a change of platform (though the idea that the Centenary Fund was "passive" income, given what it required in terms of administration is, to put it kindly, questionable).

As the Club Board explained yesterday at the Q&A, part of the reason they want to recruit more capacity to the media team is so that commercial and fan revenue streams can be more effectively promoted than they are at the moment.

No Probs - Keep Spending Money that you don't actually have by employing more people - and by extension the Board are suggesting that we arent currently promoting "Revenue Streams" that's just Business Speak Noise -

we are Partick Thistle NOT Real Madrid - promoting "Revenue Streams" - are TJF seriously being taken in by this nonsense 

- so lets say £30K Salary + 10% NI & Pension + Overhead = call it £40K - so we need to find that from increased revenue streams + lets say another £50K to make it worthwile - so that's £90K of income the Board reckon we are somehow missing  ? Now we have a Commercial Team for Sponsors etc - so that £90K will be increased revenue from the Fan Base - is that the Plan ?       

Then sell off Assets when you run out of Cash if it doesn't work 

Since we are comparing previous Boards 

Any explanation as to where the circa increased £600K in Revenue + £200K in Cash Reserves went in Season 23/24 or the £200K Cash Reserves that we are now down  ( Compared to Season 22/23 ? ) Any explanation why despite knowing about the Major Capital Spend Requirements on the Stadium ( eg JHS Stand Roof ) they got no mention in last Years Accounts-  or at the AGM and No CAPEX Allowance made - now suddenly we need Tranche 2 to fund them( as though they are a surprise ) & increase to Cash Reserves -as we spent £200K of cash we had and only have £75K to last Season 24/25  - unbelievable  

Here is an alternative plan - When you are in a Hole - STOP DIGGING - get new Directors 

We are a Shambles - technically we were better run under Jlo - Season23/24 -  £600K more Revenue + £200K more Cash Reserves ( all spent ) & we have only reduced the losses by circa £180K compared to 22/23  ( and boasting about it ) 

In similar circumstances in the past Board Members did the right thing & resigned ?  

 

 

Edited by Jordanhill Jag
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1 hour ago, Woodstock Jag said:

Could someone please disable italics on this forum?

Kind regards from the bold and underlined communities.

The Club decided to move from the Centenary fund platform partly to avoid certain regulatory compliance issues, which had been left unresolved for a number of years. I believe this was identified as a legacy issue almost two years ago, inherited from the board in the 3BC era.

Part of the issue in terms of budgeted shortfall on the Lottery is obviously a change of platform (though the idea that the Centenary Fund was "passive" income, given what it required in terms of administration is, to put it kindly, questionable).

As the Club Board explained yesterday at the Q&A, part of the reason they want to recruit more capacity to the media team is so that commercial and fan revenue streams can be more effectively promoted than they are at the moment.

Really - we had a Lawyer as CEO and we couldnt overcome the regulatory issues keeping the Centenary Fund - I find that hard to accept - maybe it was just easier to get a New Lotto   

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57 minutes ago, lady-isobel-barnett said:

Re the new lotto. If/when the first prize (currently £1500) starts to snowball I'd be rather surprised if the "membership" doesn't increase significantly.

It’s still not been explained why a rollover first prize only increased by £500 and not £1000

Maybe this should be on the lotto thread

Edited by jaggy
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As a pensioner myself it was nice to see some of the young team at the meeting.

what. about getting them involved with the club organising events for the young team to get involved  with.

Learning how the club operates as probably they will eventually become involved with the club  as they get older. 

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21 minutes ago, 1876 said:

As a pensioner myself it was nice to see some of the young team at the meeting.

what. about getting them involved with the club organising events for the young team to get involved  with.

Learning how the club operates as probably they will eventually become involved with the club  as they get older. 

Some really good ideas last night from the "Young Team" on extending our reach and visibility beyond the existing support. It's clear that many of them are also really rooted in the local area, which isn't always fully appreciated. A high awareness of the "boring bits" of fan ownership too, which you could forgive them for glossing over!

The Club has a series of initiatives in train to encourage more fan participation (the Fan Reps are currently working on a Universities and Colleges engagement programme, for example). I know that the Young Team also work quite closely already on various things with Brian Welsh and others at the Club (Singing Section is one example, banners and displays is another) and there is potential to really build on that.

We're lucky to have three (relatively!) young TJF board members among our number, though I must say it makes me want to go out and buy a walking stick when I see dates of birth after France 98!

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57 minutes ago, alexander livingstone said:

What about the 800 club which was doing alright till one of the many previous boards we have had decided to stop it with no consultation with the members.

I still have my membership card , from all those years back,  cant remember if I ever won anything...............

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On 8/23/2024 at 1:04 AM, Fawlty Towers said:

We appear to be do somethings well according to this:

https://ptfc.co.uk/ptfc-news/thistle-recognised-by-fair-game-index-2024/

That cannot be true, as according to some (well, one, self-proclaimed) "experts," Armageddon is about to befall the club! Thistle must have hoodwinked the assessors by their propaganda, and only those so-called expert's views ring true! They are, of course, deluded, and attention-seeking. Reminds me of several "world leaders," (only he (or she) is right), but we won't go there.

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51 minutes ago, Jaggernaut said:

That cannot be true, as according to some (well, one, self-proclaimed) "experts," Armageddon is about to befall the club! Thistle must have hoodwinked the assessors by their propaganda, and only those so-called expert's views ring true! They are, of course, deluded, and attention-seeking. Reminds me of several "world leaders," (only he (or she) is right), but we won't go there.

Where have I claimed Im an expert ?

the numbers Ive quoted are from the Club

we got £500K last Season from Donald Mclymont on Tranche 1 - on top of that he made circa another £150K in donations + £200k donation from an anonymous donor  + £200K from TJG thats nearly a Million outwith our normal trading ( which increased by £200k ) 

But we are still making a loss and cash reserves dropped from £280K to £75K 

and to keep going we need another £500K as we might not have enough cash until the end of the Season 

all of the above is from the Club Statement - so the Club are stating potential Armageddon without Tranche 2 - not me 

But if financial stability is based on selling off your Assetts to fund debt - we are indeed the best in the Championship  

 

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