New Chairman announced...

[Emsca]

4 hours ago, jlsarmy said:

You can’t define it as simply as that , two examples of that are Man City and Chelsea , who you would have thought  are run properly but they’ve been found out in the Financial Fair Play rules when they’ve paid out millions in Wages but are backed by two wealthy backers who cover the losses.

Same goes in Scotland with Sevco surviving on soft loans from their directors to survive.

Success on the park isn’t always equated with well run clubs

 

There will always be exceptions but as a general rule and from an intuitive point of view it seems fair to assume that Clubs that are well run in terms of working within a sensible budget, communicating effectively with fans, keeping the local community/ businesses etc involved with the Club, will do better over the long terms than Clubs that are not "well run" 

[sandy]

1 minute ago, Emsca said:

There will always be exceptions but as a general rule and from an intuitive point of view it seems fair to assume that Clubs that are well run in terms of working within a sensible budget, communicating effectively with fans, keeping the local community/ businesses etc involved with the Club, will do better over the long terms than Clubs that are not "well run" 

St Johnstone are a decent example of this 

[Fawlty Towers]

4 minutes ago, sandy said:

St Johnstone are a decent example of this 

Even they are having some difficulties now with losses posted for the last couple of seasons and their Chairman stating the wage bill is unsustainable hence giving Celtic & Rangers 3 stands when they play them which doesn't please the fans.

It does not matter what ownership model you have you need to make sensible decisions.

[sandy]

3 minutes ago, Fawlty Towers said:

Even they are having some difficulties now with losses posted for the last couple of seasons and their Chairman stating the wage bill is unsustainable hence giving Celtic & Rangers 3 stands when they play them which doesn't please the fans.

It does not matter what ownership model you have you need to make sensible decisions.

True.
 

I suppose the Saintees were helped by the supermarket land deal when moving from Muirton, but they have encouraged good use of stadium conferencing etc

[Fawlty Towers]

4 minutes ago, sandy said:

True.
 

I suppose the Saintees were helped by the supermarket land deal when moving from Muirton, but they have encouraged good use of stadium conferencing etc

I agree they do lots of things well, as do other clubs, and that comes from being very clear about what it is you want to do. My hope for next season, regardless of the ownership model, is we have a clear plan covering all areas of the club and stick to that. For too long now we seem to be just fire fighting.

[Jordanhill Jag]

1 hour ago, jaf said:

No it isn't - it is £900k

And the accounts have been audited year after year, and the auditors have never seen the need to suggest that amount needs written down, as have the directors consistently carried it at that value in the accounts without write down, therefore suggesting everyone believes that full amount is recoverable.

Apologies - You are 100% correct 

[Jordanhill Jag]

1 hour ago, javeajag said:

Show me how I suggested that please

and you don’t know either or correct me if I’m wrong 

Laughing all the way to the Beach - is what I think you said about Beattie - regards his "payout"  

[partickthedog]

2 hours ago, BowenBoys said:

Good work sherlockthedog. However, I think there should have been a transfer of land ownership for a small, yet vital, part of the ground around May 2016. Can you confirm?

 

Reading that post makes me realise how far we have fallen from the togetherness of that period. Players, club and supporters as one. Such a terrible shame.

BB, I have hunted for a deed transferring title to the centre circle, but none appears to have been registered. It may have been too complex a conveyancing task, as you would have to reserve rights of access and egress for players entering and leaving the centre circle. It may be that concerns about whether they have the appropriate heritable and irredeemable servitude rights to do so could explain why defenders and midfielders rarely drive straight forward with the ball, but instead resort to the long aimless punt or momentum-breaking sideways passing to the wings.

The title plan does have the words "Firhill Park, Football Ground" printed across it and the"o" in "Ground" looks to be where the centre circle is. So I could maybe colour in the "o", get you to sign the plan on behalf of the Forum and present to the Registers of Scotland an application for rectification of the Title Sheet. 

However, ownership would bring responsibilities for maintenance, repair, drainage etc, and we would need to insure against risk of injury, so in the end your Propco 2 is probably not a very good deal!

[BowenBoys]

3 minutes ago, partickthedog said:

BB, I have hunted for a deed transferring title to the centre circle, but none appears to have been registered. It may have been too complex a conveyancing task, as you would have to reserve rights of access and egress for players entering and leaving the centre circle. It may be that concerns about whether they have the appropriate heritable and irredeemable servitude rights to do so could explain why defenders and midfielders rarely drive straight forward with the ball, but instead resort to the long aimless punt or momentum-breaking sideways passing to the wings.

The title plan does have the words "Firhill Park, Football Ground" printed across it and the"o" in "Ground" looks to be where the centre circle is. So I could maybe colour in the "o", get you to sign the plan on behalf of the Forum and present to the Registers of Scotland an application for rectification of the Title Sheet. 

However, ownership would bring responsibilities for maintenance, repair, drainage etc, and we would need to insure against risk of injury, so in the end your Propco 2 is probably not a very good deal!

[Norgethistle]

3 hours ago, Woodstock Jag said:

In other words, the promise that the land would be transferred back to the Club and from Three Black Cats and that this would happen within seven days, made categorically on the Club website on 21 November 2019, has not happened despite the passage of some three months.

It also suggests that the follow-up statement from the Interim Board, later that same day, continues to be false.

As I have emphasised elsewhere, unless and until Three Black Cats transfers the relevant property interest to Partick Thistle Football Club Ltd, the Club actually now owns less of an interest (whether direct or indirect) in the stadium than it did before, because it was itself a shareholder in Firhill Developments Limited.

So we were promised the transfer of land would be immediately , 3 BC haven’t 

We were promised J Low wouldn’t be back, 3 BC changed that

We were promised 3BC would transfer the shares to the fans via the working group in March, now its “revised timetable” stated by 3BC

 

I have serious concerns about 3BC

[jlsarmy]

14 minutes ago, Jordanhill Jag said:

Laughing all the way to the Beach - is what I think you said about Beattie - regards his "payout"  

JJ , I’ve no idea how many shares Beattie and Co had but my colleague got just under a 6 figure sum for a 7% shareholding 

[Norgethistle]

So have the 3BC paid the club for its share of Propco yet?

[scotty]

Everyone's talking about the club as though it is a separate entity from the shares, which are mainly owned by 3BC. Is this the case? It seems to me that if 3BC bought propco then that would mean be the ground it owned would be back to the club.

[Jordanhill Jag]

1 minute ago, jlsarmy said:

JJ , I’ve no idea how many shares Beattie and Co had but my colleague got just under a 6 figure sum for a 7% shareholding 

Yes 100% Correct - thats one of the original Gang of 4 - after STJ each had 10% valued at £100K 

The shares were diluted by the Share Issue to 7%  - the deal  as I understand it - everyone got there original CASH Investment back - No Interest - No matter the Share % 

Your info is correct - now if you never were expecting £100K back you will be delighted getting it back - but there was no Profit or Interest on the Original Sum they put in - which was being implied by some Posters   

The figure paid back would be less the Tax which was covered by Entrepreneurial Tax Relief  

We are both saying the same thing - but you are reading the persons delight at getting "lost cash" back as getting a Profit  ? 

 

 

[Jordanhill Jag]

5 minutes ago, Norgethistle said:

So have the 3BC paid the club for its share of Propco yet?

The £900K would come in handy ? 

[dl1971]

2 hours ago, Garscube Road End said:

Javeajag desperately trying to extricate himself from his bull after being totally owned. Oh my!

Similar to jagsfox owning you with regard to you boycotting PTFC.....oh dear. 

[Garscube Road End]

8 minutes ago, dl1971 said:

Similar to jagsfox owning you with regard to you boycotting PTFC.....oh dear. 

Absolutely no comparison. You shouldn't really show your dimness so readily.

[allyo]

32 minutes ago, scotty said:

Everyone's talking about the club as though it is a separate entity from the shares, which are mainly owned by 3BC. Is this the case? It seems to me that if 3BC bought propco then that would mean be the ground it owned would be back to the club.

Oh yeah. Right enough.

[dl1971]

17 minutes ago, Garscube Road End said:

Absolutely no comparison. You shouldn't really show your dimness so readily.

I would respectfully suggest your lack of awareness is sadly lacking. BS is BS no matter the quantity. Perhaps you would be better boycotting this forum? 

[Garscube Road End]

Just now, dl1971 said:

I would respectfully suggest your lack of awareness is sadly lacking. BS is BS no matter the quantity. Perhaps you would be better boycotting this forum? 

Ah. Another one who tries to get rid of someone from the forum for pointing out a posters BS over monies to Propco and him making an arse of himself. Sorry, but you only make me want to stay to upset you. Lol

[Norgethistle]

So the club’s assets (Firhill) have dropped from 75% (JHS, Pitch , JLS + 1/2 Propco) to 50%, the money from that sale should have came into the clubs coffers ( £900k), but hasn’t. On top of that the 50% of assets that were purchase by 3BC should have been gifted back to the club 3 months ago but haven’t.

Where is the PTFC TRUST in all of this, it’s the Trust board members that are on the club board. 

The PTFC TRUST needs to report back to its members ASAP on all of this, if they can’t or won’t we know exactly where we stand.

[scotty]

6 minutes ago, Norgethistle said:

Where is the PTFC TRUST in all of this, it’s the Trust board members that are on the club board. 

The PTFC TRUST needs to report back to its members ASAP on all of this, if they can’t or won’t we know exactly where we stand.

As I've just posted to a similar thread on P & B, who is a member of the PTFC Trust? The Jags Trust takes an annual membership fee but how do you become a member of PTFC Trust?

[dl1971]

12 minutes ago, Garscube Road End said:

Ah. Another one who tries to get rid of someone from the forum for pointing out a posters BS over monies to Propco and him making an arse of himself. Sorry, but you only make me want to stay to upset you. Lol

Nothing to do with the Propco situation. All to do with your crass suggestion of a boycott of PTFC. Sometimes your comments do bite you on the behind rather beautifully. Love it. 

[Woodstock Jag]

57 minutes ago, Norgethistle said:

So have the 3BC paid the club for its share of Propco yet?

That’s not how it would work. 3BC didn’t buy PropCo shares. They bought PropCo *assets*.

Whether and when the (now) liquid assets of PropCo are to be distributed is a matter for the shareholders of PropCo. In fairness to 3BC even if it controls how the Club votes in any PropCo decisions it doesn’t control when it gets wound up or dividends paid out as it’s a minority shareholder.

What we might not know is if, in connection with the purchase of PropCo’s land, side-commitments were made between PropCo shareholders/3BC/the Club as to the future of PropCo. However in the absence of evidence of such arrangements, we have to work on the basis that PropCo hasn’t yet paid out a dividend or been wound up therefore it hasn’t paid any money out to the Club.

[Garscube Road End]

8 minutes ago, dl1971 said:

Nothing to do with the Propco situation. All to do with your crass suggestion of a boycott of PTFC. Sometimes your comments do bite you on the behind rather beautifully. Love it. 

No bite on my behind. But you quoting Jagfox owning me when he buggers off to the pub at half time because his team are losing is utterly delicious. Have a good evening. You obviously need cheering up.

Edited March 1, 2020 by Garscube Road End