jagfox Posted June 23, 2012 Report Share Posted June 23, 2012 (edited) Is it time for Thistle fans everywhere to consider the schemes set-up by St Mirren and Motherwell and go it alone or with the board. I appreciate this is partly due to the current situation and I'll wait for an official statement from our board regarding the matter before deciding if it should be a buy out or a case of getting a couple of fans elected to work with the current board. Not read the two methods I'm depth but could it be feasible and what goals would fans want to achieve or what objections would fans have to the idea? Edited June 23, 2012 by jagfox Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted June 23, 2012 Report Share Posted June 23, 2012 Is it time for Thistle fans everywhere to consider the schemes set-up by St Mirren and Motherwell and go it alone or with the board. I appreciate this is partly due to the current situation and I'll wait for an official statement from our board regarding the matter before deciding if it should be a buy out or a case of getting a couple of fans elected to work with the current board. Not read the two methods I'm depth but could it be feasible and what goals would fans want to achieve or what objections would fans have to the idea? JF so we are clear I have been banging this drum for 10 years and stood for election to the JT on this - we cannot compare the situations at ST Mirren & Motherwell both of these Boards hold the majority of shares ,they want to sell /transfer them to the fans - last count only 5% of PTFC sit on our current Board - even if it wanted to it couldnt give the fans ownership - the Board have however given a large chunk of the running of the Club over top onethistle - this is in its infancy but will develop as it does its influence in the running of PTFC will grow and at sometime in the future fans will run PTFC - reality is that due to our current share set up the best we can hope for is Fans taking decisions rather than ownership. Quote Link to comment Share on other sites More sharing options...
Steven H Posted June 23, 2012 Report Share Posted June 23, 2012 In reality, what are we talking in terms of cost to purchase 51% of the shares? £4m ish? Quote Link to comment Share on other sites More sharing options...
Jaggernaut Posted June 23, 2012 Report Share Posted June 23, 2012 In reality, what are we talking in terms of cost to purchase 51% of the shares? £4m ish? But then another company owns half the stadium, no? Quote Link to comment Share on other sites More sharing options...
potty trained Posted June 23, 2012 Report Share Posted June 23, 2012 In reality, what are we talking in terms of cost to purchase 51% of the shares? £4m ish? How much do you think 10000 Hours have to raise, to purchase a 52% share holding in St Mirren. A team with no dept, a low maintainance, brand new stadium. With SPL status and a youth system well respected in the west of Scotland. Quote Link to comment Share on other sites More sharing options...
Steven H Posted June 23, 2012 Report Share Posted June 23, 2012 But then another company owns half the stadium, no? Which should reduce the price of shares, result . It's half of half the stadium, or 50% stake in the company who owns the stadium, or a 10% vote but 50% stake in the company that owns half the stadium...ah dunno. Nah, was just thinking JH Jag could sort that nae borra Quote Link to comment Share on other sites More sharing options...
Steven H Posted June 23, 2012 Report Share Posted June 23, 2012 How much do you think 10000 Hours have to raise, to purchase a 52% share holding in St Mirren. A team with no dept, a low maintainance, brand new stadium. With SPL status and a youth system well respected in the west of Scotland. Sorry, wasn't serious. I know it's not possible. Quote Link to comment Share on other sites More sharing options...
jagfox Posted June 23, 2012 Author Report Share Posted June 23, 2012 How much do you think 10000 Hours have to raise, to purchase a 52% share holding in St Mirren. A team with no dept, a low maintainance, brand new stadium. With SPL status and a youth system well respected in the west of Scotland. I think their target is £1.5 million. Quote Link to comment Share on other sites More sharing options...
jagfox Posted June 23, 2012 Author Report Share Posted June 23, 2012 JF so we are clear I have been banging this drum for 10 years and stood for election to the JT on this - we cannot compare the situations at ST Mirren & Motherwell both of these Boards hold the majority of shares ,they want to sell /transfer them to the fans - last count only 5% of PTFC sit on our current Board - even if it wanted to it couldnt give the fans ownership - the Board have however given a large chunk of the running of the Club over top onethistle - this is in its infancy but will develop as it does its influence in the running of PTFC will grow and at sometime in the future fans will run PTFC - reality is that due to our current share set up the best we can hope for is Fans taking decisions rather than ownership. Cheers JJ. I guess it would have been an idea to look at the set up of our own club first It was a spur of the moment thought/post. As you mentiom, there has been an excellent effort from the One Thistle grouping and I've been impressed with their initiatives. Share wise I'm then assuming (i know, I know) that the shares of PTFC lie with directors from the STJ era and the Jags trust and there are a few people with small holdings. I'm not fully up on the Propco set up, but I guess that also complicatesatters. Would fans be able to buy a portion of that company in order to get a seat on the board and ensure Firhill is continued as a football venue. Thanks I'm advance. Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted June 24, 2012 Report Share Posted June 24, 2012 Cheers JJ. I guess it would have been an idea to look at the set up of our own club first It was a spur of the moment thought/post. As you mentiom, there has been an excellent effort from the One Thistle grouping and I've been impressed with their initiatives. Share wise I'm then assuming (i know, I know) that the shares of PTFC lie with directors from the STJ era and the Jags trust and there are a few people with small holdings. I'm not fully up on the Propco set up, but I guess that also complicatesatters. Would fans be able to buy a portion of that company in order to get a seat on the board and ensure Firhill is continued as a football venue. Thanks I'm advance. The Board of Propco and the Board of PTFC have no legal relationship - they share Directors Propco is not a barrier to Fan Ownership - 30% of PTFC were gifted at the time of Save the Jags for nil consideration - 10% is with the Jags Trust if the other 20% was given to a fan based organisation then the fans only need to raise cash for 20% of the Club which is realistic given the assett value has reduced via Propco and falling property prices Quote Link to comment Share on other sites More sharing options...
Jaggernaut Posted June 24, 2012 Report Share Posted June 24, 2012 The Board of Propco and the Board of PTFC have no legal relationship - they share Directors Propco is not a barrier to Fan Ownership - 30% of PTFC were gifted at the time of Save the Jags for nil consideration - 10% is with the Jags Trust if the other 20% was given to a fan based organisation then the fans only need to raise cash for 20% of the Club which is realistic given the assett value has reduced via Propco and falling property prices I confess to being totally ignorant in all of these kinds of things, but doesn't it remain the fact that Jim Oliver basically owns the largest chunk of the Club, amounting to £millions? Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted June 24, 2012 Report Share Posted June 24, 2012 The Jags Trust are the largest shareholder from memory about 12% - all other shareholders have 10% or less Quote Link to comment Share on other sites More sharing options...
Jaggernaut Posted June 24, 2012 Report Share Posted June 24, 2012 The Jags Trust are the largest shareholder from memory about 12% - all other shareholders have 10% or less And of course there are A and B shares, one type theoretically worth something, the other type basically worthless. So I guess it depends on how many of which type of shares one owns that would count. Quote Link to comment Share on other sites More sharing options...
Fellow Traveller Posted June 24, 2012 Report Share Posted June 24, 2012 As Jim points out, if you add the Trust shares to the free shares McMaster gifted to his family (in breach of SFL rules as far as I can see) and the free shares Tom Hughes walked away with, you have a very significant voting block. But that's another fight we meekly declined to have. Truly bizarre to have the club run by a board of people who own hardly any shares at all while we have a string of former chairmen and directors who quit the club but decided to cling to their shareholding (motivation unclear). I bet you won't find another professional club in Scotland or England with such an arse-backwards arrangement. And if anyone can show me how it's a healthy state of affairs, I'd be grateful for the enlightenment. Quote Link to comment Share on other sites More sharing options...
Members Willjag Posted June 24, 2012 Members Report Share Posted June 24, 2012 Did we ever find out how many shares the Trust gained from joining in with the Centenary Fund? Quote Link to comment Share on other sites More sharing options...
Allan Heron Posted June 27, 2012 Report Share Posted June 27, 2012 (edited) Did we ever find out how many shares the Trust gained from joining in with the Centenary Fund? I've not seen anything about this but suspect JJ's response above provides an answer. Originally there was no differential in the amount of shares owned between the Trust and the others on 10%. And, on the topic of the Trust, I see there's an announcement about a new appointment in Supporters Direct that's appeared in the last couple of days. But nothing whatsoever, as far as I've seen, about the current situation apart from a mention in a Rangers blog. I really have no idea whatsoever what role the Trust have these days, if any, in what's going on at the club. It's one things to be either for or agin whatever's going on at any point but it's something else again to make yourselves completely and utterly irrelevant. And all, it would seem, on the basis of fighting battles from the last century. Edited June 27, 2012 by Allan Heron Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.