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Debt Free...


dougie247
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Obviously great news about us being debt free. Beattie's tenure as chairman actually looks pretty formidable when you consider a promotion, 3 seasons in the top league (hopefully many more), the creation of the youth academy, and now today's news. You can't really argue with that record.

 

The most interesting part of the statement for me though, is this new creation of a supporters trust. Given that the club have been, somewhat cumbersomely, trying to resurrect a supporters federation, you have to wonder if that has now been ditched and replaced with this new trust? I will admit that I haven't heard anything since a meeting which I missed about a year ago, but the progress had been painstakingly slow and when it was decided that my preferred format of 1 member 1 vote had been thrown out I didn't take any further part. But surely a supporters trust should be instigated by the supporters, not the club.

 

And what of that other trust, the jags trust? What does this development mean to them? Is there any reason for them to exist anymore? What have they been up to recently? How many active members do they currently have? Who is currently on the board of the JT? It would be easier to find out what's going in North Korea to be quite honest. Can anyone from the JT give us an insight? I'm sure the JT will argue that they are still important because of the shares they have but will this new investment mean that their shareholding has been diluted? Would really love to hear someone from the JT's view on this.

I was part of the follow up meetings in regards to the organisation of the 'New Trust' which seemed to be being headed up by Ian Maxwell, Lance Gilmour and Greig Brown. If what was discussed during these meetings (last one I attended/is aware of was back at the end of March if I recall) then it appears the club want to set up localised branches which dependent on size would have up to a maximum of 2 representatives to attend quarterly meetings with some of the PTFC LTD Board.

 

These groups were to be set up firstly be geographic location, ie Maryhill branch, City Centre etc much as the buses are, along with North Stand, Season Tickets, Under 16s, Disabled fans. All these groups would be asked to adhere to a 'light' constitution which would be delivered by the club in order to be able to send reps to meet the Board. Obviously from this there is no certainty that the club Board would have to listen to these representatives when it comes to issues like Propco/AGMs etc.

 

The way I personally view the situation, if this indeed what is to happen, is a sort of Rangers situation with a 'club approved' Trust and the troublemakers - Jags Trust. The Jags Trust was the joint largest shareholder with 1 million shares and if the full 1.2 Million has now been allocated to a new single investor then obviously we will no longer be joint largest, however it will still leave us with a substantial holding, though we would obviously require the support of others if we ever had to block or vote down anything at AGMs/EGMs.

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Anyone think that maybe, on reflection, this is actually a massive deal, a day that we maybe thought we'd never get to, that the people running the club deserve enormous credit, and we should all be going crazy with happiness at the state of our club, back from the brink and now competing in the premier league with no debt?

 

Nah? Too positive?

 

 

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Anyone think that maybe, on reflection, this is actually a massive deal, a day that we maybe thought we'd never get to, that the people running the club deserve enormous credit, and we should all be going crazy with happiness at the state of our club, back from the brink and now competing in the premier league with no debt?

 

Nah? Too positive?

 

Of course it's positive

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Anyone think that maybe, on reflection, this is actually a massive deal, a day that we maybe thought we'd never get to, that the people running the club deserve enormous credit, and we should all be going crazy with happiness at the state of our club, back from the brink and now competing in the premier league with no debt?

 

Nah? Too positive?

 

At the moment, that's debatable. So how will this new 'debt free' status help us better compete in the premier league?

 

Again, from the Evening Times;

 

"Whilst the news of the club going debt-free will undoubtedly be welcomed by the fans, Beattie was quick to temper any expectations of additional investment in the playing squad."

 

 

 

I really hope you're right about how big this is but at the moment I don't have enough information to reach that conclusion.

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Maybe a good idea to hang off to see who is the investor before congratulating anyone? I would think that there's as good a chance of the likes of Kingsford making a major investment than there is the Weirs!

 

101 Mill on the Euro Millions tomorrow night and I'll be buying the lot of them out anyway! :)

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At the moment, that's debatable. So how will this new 'debt free' status help us better compete in the premier league?

 

Again, from the Evening Times;

 

"Whilst the news of the club going debt-free will undoubtedly be welcomed by the fans, Beattie was quick to temper any expectations of additional investment in the playing squad."

 

 

 

I really hope you're right about how big this is but at the moment I don't have enough information to reach that conclusion.

 

See, I'd argue that we were already competing in the premier league. Like, how many people actually expect us to lose to the Scottish Cup holders on Saturday? (Apologies for jinxing)

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I don't have a business mind. Can someone who does reconcile the following statements for me, all from the Evening Times article.

 

1. Free of debt

2. Mortgage free

3. We owe no money to any other banks

 

I'm not really of a business mind either (don't tell my boss). But potentially they could all mean pretty much the same thing to me. I suppose the third one could, in another context, mean that we owe the world to wonga.com, but you'd struggle to reconcile that with the other two.

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When there are so many gaps in the story of course there will be questions. When you consider everything the club has been through in the last 20 years - Save the Jags, Propco, a tax bill that we were only able to pay by selling 2 good players - then I think the fans are right to be vigilant and ask questions.

 

I think pretty much everyone has said that on the surface it appears to be very good news, a lot of people have also praised Beattie's tenure as chairman - I did so in the first line of my first post on the thread.

 

So I think those criticising others, for merely seeking clarification, are way wide of the mark and are themselves blowing things out of all proportion.

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When there are so many gaps in the story of course there will be questions. When you consider everything the club has been through in the last 20 years - Save the Jags, Propco, a tax bill that we were only able to pay by selling 2 good players - then I think the fans are right to be vigilant and ask questions. I think pretty much everyone has said that on the surface it appears to be very good news, a lot of people have also praised Beattie's tenure as chairman - I did so in the first line of my first post on the thread. So I think those criticising others, for merely seeking clarification, are way wide of the mark and are themselves blowing things out of all proportion.

 

Especially since the board have said we are to get more information soon - though depends on your definition of "soon".

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For heaven's sake, why not just accept the statement at face value. The investment seems to be in return for shares, and if the investor is "Thistle minded", then, like all other football club investors they will not expect any return on their investment. Consequently the new money will probably trim £50-60,000 off the annual costs from bank interest savings. Perhaps the recruitment of a marketeer is one way the Board is investing that saving.

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For heaven's sake, why not just accept the statement at face value. The investment seems to be in return for shares, and if the investor is "Thistle minded", then, like all other football club investors they will not expect any return on their investment. Consequently the new money will probably trim £50-60,000 off the annual costs from bank interest savings. Perhaps the recruitment of a marketeer is one way the Board is investing that saving.

 

A lot of conjecture there, from someone who wants us to take the club statement at face value.

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Very little conjecture BB, only that of the marketing post.

 

For heaven's sake, why not just accept the statement at face value. The investment seems to be in return for shares, and if the investor is "Thistle minded", then, like all other football club investors they will not expect any return on their investment. Consequently the new money will probably trim £50-60,000 off the annual costs from bank interest savings. Perhaps the recruitment of a marketeer is one way the Board is investing that saving.

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