Club 1872 statement

[Bigfc]

I'm virtually certain the purchase of the MASH shares by Club 1872 and Wolhardt came as a well-celebrated bolt-out-of-the-blue mate. There was a vote a year later with regard to purchasing a further £500k of shares but not for the MASH purchase.

they did, but I think all of us were happy with that given who the shareholder was. DK is not viewed as a threat and also involves significant more money

 

[Valley Bluenose]

Honestly mate, I think that's a little bit of semantics.

I share your irritation about the paucity of information on the proposed mechanics and how C1872 is going to reorganise itself to function as a much bigger entity; and I won't be switching subscriptions if and until those details have been provided. But that is essentially my vote on "does the membership with to put in place plans to make it happen". I don't view it is as simply "how would you like to pay" because I'm not obligated to pay anything.

I don't know if you've had a look yet but they have a Phase 1 and Phase 2 plan up as part of their FAQs into the Legacy project to purchase King's shares. Not had the chance to digest it yet but, hopefully, it has a little more info:

Phase One | Club 1872

Phase Two | Club 1872

FAQs | Club 1872

 

[Tomted]

Quite a bit of money already comes out of my household and goes to club 1872. Not so long ago the Rev McQuarrie and another bloke felt led to jack in their positions on the board and as far as I know there has been no satisfactory explanation nor news of replacements. Until the current C1872 people are able to demonstrate over a sustained period that the membership has reason to be confident in the current leadership, it just strikes me as being premature to ask members to put their hands into their pockets for a sizeable sum of money, so for the time being I won’t be doing so.

 

[Yosser]

Director loans was never intended to be forever. The structured loss was carefully planned, and intended to make Rangers competitive while the club worked towards becoming self sustaining.
Buying DK's shares doesn't prevent Club 1872 loaning the club money. As a large shareholder Club 1872, with its members, can become a major source of finance.

Not convinced . Say C1872 manage to raise the £13m through 20,000 fans joining. Do you think they would be in a position to forward a shareholder loan of £5m knowing it would probably take a closed further share issue to convert that loan. Therefore no repayment?

 

[frankieboy]

if you are already a member, you will have received an email this morning that explains it.

I’ve not heard anything yet.
Found it mate,thanks for the information

 

[sneddon38]

When was the last time they completed a project? The only one I can think of was the Tom Vallance painting but heard that was the Founders Trail who actually done that.

 

[iaatpies]

I want the very best people involved in Rangers at every level.

I want Kent, Morelos, Barisic and Aribo pulling on the jersey every week even though they weren't brought up as Rangers fans.

Same with the finances and the off field stuff. I want the most competent people possible in our board room - not people who are there because they are "good Rangers men". The idea of some that just anyone can do the boardroom and finance stuff is naive and to be honest worrying in the extreme.

Which is a common view about fan involvement.

Its not actually what happens at fan owned clubs, but it does highlight the challenge ahead in convincing the Rangers support of the merits of fan ownership and fan representation. Fan owned clubs still have chief financial officers who are first and foremost professionals who are qualified in their field. The role of CFO at Rangers isnt suddenly going to go to the local golf club treasurer. The executive roles on the board would still be carried out by professionals. Having that fan representation at board level simply gives a different, fan perspective at board level when setting out the longer term agenda or making strategic rather than operational decisions. Any fan appointed director would still be required to meet the fiduciary duties and act in accordance with companies law.

At the club I have direct experience of, our fan appointed director was the club's commercial manager. He performed the same role in his professional life and was able to bring his professional knowledge and experience to his role with the club. That worked because its a skillset and experience that would otherwise be unavailable to a lower league Scottish football club. It's a world away from the model I'd be looking for at a Rangers with fan involvement at board level. This isnt appointing fans to key operational positions.

 

[LJ50]

I don't know if you've had a look yet but they have a Phase 1 and Phase 2 plan up as part of their FAQs into the Legacy project to purchase King's shares. Not had the chance to digest it yet but, hopefully, it has a little more info:

Phase One | Club 1872

Phase Two | Club 1872

FAQs | Club 1872

Yes, thanks but I have read that. The details about the transaction are one thing, but the fact is that C1872 board has lost directors without explanation, and at one point at least wasn't even quorum. It has not been as effective as we want it to be, nor operated as well as it will have to if it's shareholding increases by roughly 4-5x. Those are the details I would like.

 

[Portadown_Bear]

Which is a common view about fan involvement.

Its not actually what happens at fan owned clubs, but it does highlight the challenge ahead in convincing the Rangers support of the merits of fan ownership and fan representation. Fan owned clubs still have chief financial officers who are first and foremost professionals who are qualified in their field. The role of CFO at Rangers isnt suddenly going to go to the local golf club treasurer. The executive roles on the board would still be carried out by professionals. Having that fan representation at board level simply gives a different, fan perspective at board level when setting out the longer term agenda or making strategic rather than operational decisions. Any fan appointed director would still be required to meet the fiduciary duties and act in accordance with companies law.

At the club I have direct experience of, our fan appointed director was the club's commercial manager. He performed the same role in his professional life and was able to bring his professional knowledge and experience to his role with the club. That worked because its a skillset and experience that would otherwise be unavailable to a lower league Scottish football club. It's a world away from the model I'd be looking for at a Rangers with fan involvement at board level. This isnt appointing fans to key operational positions.

No one hopes this all works out and goes smoothly more than I do.

I'd probably be more content though if the owners of Rangers were people who owned and built their own multi-million pound global businesses or as close to that as we can get.

 

[Deleted member 3807]

Not convinced . Say C1872 manage to raise the £13m through 20,000 fans joining. Do you think they would be in a position to forward a shareholder loan of £5m knowing it would probably take a closed further share issue to convert that loan. Therefore no repayment?

Large loans like that wouldn't be converted. They would be repaid. Payment terms would be very favourable for Rangers.

 

[iaatpies]

No one hopes this all works out and goes smoothly more than I do.

I'd probably be more content though if the owners of Rangers were people who owned and built their own multi-million pound global businesses or as close to that as we can get.

That's no guarantee that we avoid another David Murray.

Phillip Green owned and built a billion pound retail empire. Arcadia Group are now in administration.

 

[Valley Bluenose]

Yes, thanks but I have read that. The details about the transaction are one thing, but the fact is that C1872 board has lost directors without explanation, and at one point at least wasn't even quorum. It has not been as effective as we want it to be, nor operated as well as it will have to if it's shareholding increases by roughly 4-5x. Those are the details I would like.

I'd hope there will be a general meeting at some point, with an election process as a part of it. Bit awkward for them at the moment right enough.

 

[Portadown_Bear]

That's no guarantee that we avoid another David Murray.

Phillip Green owned and built a billion pound retail empire. Arcadia Group are now in administration.

True. Some times star players get injured or they don't perform the way they should.

You don't tend to replace them with a chubby lad from the stand who has no experience of playing football though. You try to find another star performer.

 

[sammy1872]

I upgraded my membership to a legacy one earlier. Should I have received an email confirming this. Seen some emails from folk on Twitter but not sure whether they were just sending emails to new members or all members that upgraded

 

[Yosser]

Large loans like that wouldn't be converted. They would be repaid. Payment terms would be very favourable for Rangers.

The club converted £5.75m worth of loans to shares during the last accounting period.
Also, Dave King's loans attached interest of 8%- hardly a favourable rate.
I remain cautious about this as it may take a much-needed funding stream away.

 

[Northampton_Loyalist]

From the C1872 articles of association;


DIRECTORS DIRECTORS’ POWERS AND RESPONSIBILITIES 8. Directors’ general authority and Key Decisions Subject to the Articles, the Directors are responsible for the management of the Company’s business, for which purpose they may exercise all the powers of the Company but they shall do so subject to the requirement that on any Key Decision they shall first host a vote of the Donating Members and shall exercise their powers to give effect to the vote of the majority of Donating Members who cast votes on that Key Decision.


I challenge anyone, absolutely anyone at all, to tell me that agreeing to a purchase of £13 million of shares is not a key decision.

 

[Mustang mad]

It's not fan ownership.

Ok then, majority shareholding, calling the shots- whatever you want to call it

 

[The Double A Man]

Don't get me wrong, I have been a member of Club 1872 since it began and was a member of Rangers First before that. I pay £280 a year into C1872 and have done so for years. So, those of you who won't like what I'm about to say, can you please remember, I am saying this as a "member", because I believe in the concept and want it to work.

After the shenanigans of the early part of this decade, the evolution of Club 1872 was quite remarkable and it played an important role in freeing us from the manacles of Green, Easdale et al. Thereafter, it was overtaken by events, not to mention apparent internal friction, and has in very recent years become a bit player around the club.

Acquiring Dave King's shares is a very ambitious target and one I support wholeheartedly. I love the idea but it will have to raise its game by quite some distance to be able to firstly acquire and then manage effectively the size of investment involved. Owning 25% of Rangers, worth over £16m at cost price, brings significant responsibilities and I'm not sure that the current structure is capable of doing that. Do I want it to? Most definitely yes. But as a current contributor I have major doubts it can succeed as it is currently set up.

My prime concern about Club 1872 is the lack of communication with its members. The last Board minutes on the website are dated September, 2018. The last member's update is dated October 2017 and I can see no information on the C1872 website relating to the accounts of the company. In fact, I had to go rummaging in Companies House to find sets of accounts. I have no idea how many members there are or how much money they currently hold to be used as part of the share purchase. And I have contributed over £1,000. It is because I believe that I'm still paying but I'm taking an awful lot on trust.

Added to that, it started with 6 directors, if I'm not mistaken, and it now has 3. Not enough in my opinion to raise and manage the amount of money involved. There is little point in starting to raise the money without first telling members and potential members what their plans are and how they expect to deliver those plans. You raise subscription-type money in 2 ways - you get new members to contribute and you get existing members to contribute more.....but you need to keep them informed.

Been paying 11.25 per month since about 2012 which amounts to around #1100.As I am now on a pension,I can't justify increasing my payments anymore.I agree that its a commendable cause, but think they should be selling the latest venture and pitching it to hitherto non contributing fans if they want to meet their goal.I believe that there are around 8,000 current subscribers and given the worldwide support, there should be scope for enlisting some additional members from them.

 

[DejaVoodoo]

The announcement of this is the first in several steps Club 1872 need to make. Zoom Q&A's and Town Hall meetings are the next step where they can highlight what the plan is and how they plan to revamp the organisation in order to prepare it for potentially becoming the largest shareholder in the Club.

Based on comments online, people want to see an open and transparent organisation that shows everything in good detail before people will contribute. That's completely understandable and easy to do.

 

[Valley Bluenose]

From the C1872 articles of association;


DIRECTORS DIRECTORS’ POWERS AND RESPONSIBILITIES 8. Directors’ general authority and Key Decisions Subject to the Articles, the Directors are responsible for the management of the Company’s business, for which purpose they may exercise all the powers of the Company but they shall do so subject to the requirement that on any Key Decision they shall first host a vote of the Donating Members and shall exercise their powers to give effect to the vote of the majority of Donating Members who cast votes on that Key Decision.


I challenge anyone, absolutely anyone at all, to tell me that agreeing to a purchase of £13 million of shares is not a key decision.

Probably I’m being pedantic but King has agreed to sell and that’s it. Club 1872 have said they will try and raise the funds. If they fail, as I expect, then that would be the time to vote on what to do with the funds they have raised. Arguably, this is a fund-raising venture at this stage, not a fund-spending proposal.

 

[dt17]

Another thing that someone sent me from a Celtic forum.

 

[Northampton_Loyalist]

Probably I’m being pedantic but King has agreed to sell and that’s it. Club 1872 have said they will try and raise the funds. If they fail, as I expect, then that would be the time to vote on what to do with the funds they have raised. Arguably, this is a fund-raising venture at this stage, not a fund-spending proposal.

No, King and C1872 have entered into an agreement for a fixed number of shares to be sold at a fixed price over a set period of time. C1872 have effectively entered into a £13 million purchase agreement. A contract. That, by any measure, is a key decision.

 

[Valley Bluenose]

No, King and C1872 have entered into an agreement for a fixed number of shares to be sold at a fixed price over a set period of time. C1872 have effectively entered into a £13 million purchase agreement. A contract. That, by any measure, is a key decision.

And if they don’t raise the funds?

 

[Northampton_Loyalist]

And if they don’t raise the funds?

The fact that neither you nor I can answer that readily actually makes a mockery of the fact we can pay money in right now.

 

[Valley Bluenose]

The fact that neither you nor I can answer that readily actually makes a mockery of the fact we can pay money in right now.

That’s why I’m inclined to think it’s an ‘agreement’ rather than a ‘contract’. Hence why I’m unsure about your assertion it ‘needed’ to go to a vote. There’s an argument it would have been ‘wise’ to go to a vote but I’m not sure it was a requirement.

I‘d love Club 1872 to pull this off and, even though I’m not a member now, would probably throw my money in. I don’t think there is any chance they raise £13m though, so further clarity is required and will, I expect, be forthcoming.

 

[Northampton_Loyalist]

That’s why I’m inclined to think it’s an ‘agreement’ rather than a ‘contract’. Hence why I’m unsure about your assertion it ‘needed’ to go to a vote. There’s an argument it would have been ‘wise’ to go to a vote but I’m not sure it was a requirement.

I‘d love Club 1872 to pull this off and, even though I’m not a member now, would probably throw my money in. I don’t think there is any chance they raise £13m though, so further clarity is required and will, I expect, be forthcoming.

If they have agreed a price, terms etc etc then they have a de facto contract. If C1872 raised £13 million and King said 'Nah, changed my mind' you think that would wash?

Again, the fact we do not know makes a mockery of the fact they are asking folk to spend their cash already.

 

[Valley Bluenose]

If they have agreed a price, terms etc etc then they have a de facto contract. If C1872 raised £13 million and King said 'Nah, changed my mind' you think that would wash?

Again, the fact we do not know makes a mockery of the fact they are asking folk to spend their cash already.

Surely that works in reverse as well though. If Club 1872, 3 years down the line, decide not to proceed - or don’t get members backing to proceed - then they too can walk away. Effectively it’s not much of a ‘contract’ - de facto or otherwise. It’s an ‘agreement’.

 

[iaatpies]

If they have agreed a price, terms etc etc then they have a de facto contract. If C1872 raised £13 million and King said 'Nah, changed my mind' you think that would wash?

Again, the fact we do not know makes a mockery of the fact they are asking folk to spend their cash already.

They're undoubtedly doing things in the wrong order, but they should have the right to explore the option with King prior to seeking member approval.

They shouldn't be taking money for a proposed share purchase until it's clear that the process map has been drawn up, that it has been sold to the support and then a vote of members has been taken to determine whether or not it's what they want to do. At that point? Fine. It's been scrutinised and voted on and should be open for fundraising.

My view is that they've jumped the gun. They've had the initial discussion with King and they've made the big announcement. They've started looking for money. They've skipped a lot of the detail and the story telling. That may be down to the timeline King himself has placed on the deal, but in an ideal world you'd see a comprehensive proposal put to the membership, then a vote on whether or not to approve the plan and then C1872 entering the implementation phase.

They need to be careful because there's a real danger that by skipping ahead and missing out the details, they undermine confidence in their own proposal. They need to get this right.

 

[Northampton_Loyalist]

They're undoubtedly doing things in the wrong order, but they should have the right to explore the option with King prior to seeking member approval.

They shouldn't be taking money for a proposed share purchase until it's clear that the process map has been drawn up, that it has been sold to the support and then a vote of members has been taken to determine whether or not it's what they want to do. At that point? Fine. It's been scrutinised and voted on and should be open for fundraising.

My view is that they've jumped the gun. They've had the initial discussion with King and they've made the big announcement. They've started looking for money. They've skipped a lot of the detail and the story telling. That may be down to the timeline King himself has placed on the deal, but in an ideal world you'd see a comprehensive proposal put to the membership, then a vote on whether or not to approve the plan and then C1872 entering the implementation phase.

They need to be careful because there's a real danger that by skipping ahead and missing out the details, they undermine confidence in their own proposal. They need to get this right.

They absolutely, 100%, have the right to explore any and all options they feel are for the benefit of the membership. In fact, they are 100% under obligation to explore any and all avenues for the furtherment of their core values. I agree with you entirely. Once they have an idea of how they feel they should go, and how to make it happen, they should then approach their membership with the outline and seek a mandate to enter negotiations properly and to finalize any deal.

I think you have hit the nail square on the head with this post; they have seen a deal that they, I believe there are currently 3 board members?, like and decided to pursue it. Instead of fleshing it out, they have created a vehicle for getting money in, put a basis idea together and put it out there.

 

[Northampton_Loyalist]

Surely that works in reverse as well though. If Club 1872, 3 years down the line, decide not to proceed - or don’t get members backing to proceed - then they too can walk away. Effectively it’s not much of a ‘contract’ - de facto or otherwise. It’s an ‘agreement’.

Why on Earth would the board of C1872 get 3 years down the line, £13 million of members cash banked, and THEN decide to see if their members are up for it?


They have approached this, as IAATP says, arse about face completely.




An agreement to exchange goods or services for cash is what?

 

[sapper]

If they have agreed a price, terms etc etc then they have a de facto contract. If C1872 raised £13 million and King said 'Nah, changed my mind' you think that would wash?

Again, the fact we do not know makes a mockery of the fact they are asking folk to spend their cash already.

Quick question, not looking for an argument, Are you a member, and if you are why not email them, and ask them?

 

[Northampton_Loyalist]

Quick question, not looking for an argument, Are you a member, and if you are why not email them, and ask them?

'Membership on hold'

 

[jweebear]

Some good replies here, I agree there is an element of getting the horse before the cart with this announcement. However 3 directors left to run things and get this idea off the ground, I can have some sympathy for the haste. Again reading the replies, nothing is set in stone and there seems room for manoeuvring or backtracking. I don't think anyone has went against the ethos or articles of association of C1872, bringing this to the attention of the membership.

 

[sapper]

'Membership on hold'

Thanks, I have emailed them, and asked the question, as I have received an email offering me the opportunity to change my regular donation to a Legacy Donation.

 

[Northampton_Loyalist]

Some good replies here, I agree there is an element of getting the horse before the cart with this announcement. However 3 directors left to run things and get this idea off the ground, I can have some sympathy for the haste. Again reading the replies, nothing is set in stone and there seems room for manoeuvring or backtracking. I don't think anyone has went against the ethos or articles of association of C1872, bringing this to the attention of the membership.

They have literally decided to buy £13 million worth of shares in the club from a private vendor rather than investing directly in the club. They have announced this at the same time as announcing how to buy into it and have already accepted money from people on this thread.

They have made a £13 million tactical decision with zero consultation with their membership.

That, no matter what you say, is a key decision.

key decisions, by their articles, have to be put to the membership.


Tell me again how they have not gone against their own articles?

 

[Portadown_Bear]

Why on Earth would the board of C1872 get 3 years down the line, £13 million of members cash banked, and THEN decide to see if their members are up for it?


They have approached this, as IAATP says, arse about face completely.




An agreement to exchange goods or services for cash is what?

One thing I will say as someone who would have reservations regarding fan control - when you get a chance to fulfil your objectives as an organisation you say yes and figure out the detail later.

If you say no the chance might never come again.

 

[Northampton_Loyalist]

One thing I will say as someone who would have reservations regarding fan control - when you get a chance to fulfil your objectives as an organisation you say yes and figure out the detail later.

If you say no the chance might never come again.

David King is not going to turn around in a month and say that he has changed his mind. If he did, he would have his reasons for doing so and we would all assume they were for the best interests of the club. Ignoring your own articles of association to rush out a half formed idea is an absolute surefire way of turning people off from the idea.

 

[Portadown_Bear]

From the C1872 articles of association;


DIRECTORS DIRECTORS’ POWERS AND RESPONSIBILITIES 8. Directors’ general authority and Key Decisions Subject to the Articles, the Directors are responsible for the management of the Company’s business, for which purpose they may exercise all the powers of the Company but they shall do so subject to the requirement that on any Key Decision they shall first host a vote of the Donating Members and shall exercise their powers to give effect to the vote of the majority of Donating Members who cast votes on that Key Decision.


I challenge anyone, absolutely anyone at all, to tell me that agreeing to a purchase of £13 million of shares is not a key decision.

Its not a key decision. Their website clearly states that they will take members money and it will be used only to buy shares in Rangers. This is just operationally fulfilling what they have said they will do.

A key decision would be for example to change their policies and procedures and use the money for something else.

 

[Northampton_Loyalist]

Its not a key decision. Their website clearly states that they will take members money and it will be used only to buy shares in Rangers. This is just operationally fulfilling what they have said they will do.

A key decision would be for example to change their policies and procedures.

There are 2 main ways of buying shares; From others or from the club direct. When we are talking £13 million, becoming the largest single shareholder, and not a single penny actually going to the club, you will try and convince people that this is not a 'Key' decision?

Sorry, but that, just like a cellic fan, does not wash.


At the absolute minimum someone should have had the common sense to cover their bases and at least mentioning it before firing up the page for donations.

 

[Valley Bluenose]

Why on Earth would the board of C1872 get 3 years down the line, £13 million of members cash banked, and THEN decide to see if their members are up for it?


They have approached this, as IAATP says, arse about face completely.




An agreement to exchange goods or services for cash is what?

They, in my opinion, won’t be banking any £13m. What then?

 

[Borg359]

What I did read out of that is that his family aren’t keen on that idea

That's my take.

 

[Northampton_Loyalist]

They, in my opinion, won’t be banking any £13m. What then?

Exactly, and at the risk of becoming boring, it makes an absolute mockery of the fact they are already taking money from folk that you and I cannot easily answer this question.


We are in absolute direct agreement mate Only a few wee semantic bits thrown in to keep it interesting.

 

[garytcrsc]

Sorry if it is not clear what I mean.

I feel that BEFORE a members organisation embarks on a multi-million scheme to buy existing shares, it should at least ask it's membership if they want to go in that direction. Members money has already been spent on this, will continue to be spent and time and effort will clearly follow. Without even a hint to the people who's money that is.

My view on the Ashley share situation is that it was a good idea, was voted on and carried out. My view on this idea is that it was not voted on, not discussed, not even hinted at and that it is now appearing out of thin air to be bought into or not. It might be a great way for C1872 to buy shares at under market value, but it 100% puts the membership at the risk of needing to find millions time after time to maintain that shareholding.

The question of whether holding on for a fresh share issue or buying King's shares is the correct way forward is 100% not something that a board that cannot communicate with their membership in any meaningful way, is under several board room bust up clouds and has a terrible reputation for openness should be unilaterally deciding and then implementing without even giving a few answers to some vitally important questions.


This is 100% symptomatic of the organisation, the people currently running it and the way they feel that they can do as they like, with the membership being left with 'Nobody is being forced. If you want to buy in, great, if you don't, don't.' after having paid in millions over the past few years. I stopped paying in for these exact reasons after yet another board room fight that was NEVER explained and which was only public through vague releases by disgruntled ex board members.

One of the goals of Club 1872 is to "Maintain/grow our shareholding in Rangers International Football Club Plc", so there is no reason for the members to be asked "if they want to go in that direction".

 

[Northampton_Loyalist]

One of the goals of Club 1872 is to "Maintain/grow our shareholding in Rangers International Football Club Plc", so there is no reason for the members to be asked "if they want to go in that direction".

Explain this vote then please...

Poll Result: Major Share Purchase - Club 1872Club 1872

Club 1872 is pleased to announce the result of our recent poll regarding the purchase of a further 2.5 million shares in RIFC. Members have overwhelmingly authorised the use of funds from Club 1872 Projects CIC to purchase a portion of these shares and the full purchase will now go ahead. The...

club1872.co.uk

Almost exactly a year ago, the membership were polled on the purchase of new shares issued.


A purchase of 2.5 million new shares, directly benefiting the club, warrants a Poll.

The purchase of 66 million shares from an individual and to zero benefit of the club does not?


What planet are folk on if they think that is in any way acceptable?

 

[BenVorlich]

I see it as a token gesture by King. C1872 won’t find that kind of money and that’ll be the end of it.

 

[Chas]

One of the goals of Club 1872 is to "Maintain/grow our shareholding in Rangers International Football Club Plc", so there is no reason for the members to be asked "if they want to go in that direction".

You are indeed correct, but similar to many clubs, or indeed boardrooms up and down the country, it is good governance to seek comfort from fellow members before making a significant business decision. There may well be no need or reason to notify members, but it’s professional on most occasions to seek it.

 

[High Society]

I'd hope there will be a general meeting at some point, with an election process as a part of it. Bit awkward for them at the moment right enough.

I’ve said same earlier on this thread VB. it’s absolute essential C1872 holds elections to take the Board up to 7 or 8 again.
The current Directors should be willing to accept they will be unable to cope with the sheer size of the challenge.
However, they could stay on an facilitate the election if 4 new directors

 

[iaatpies]

They're doing things in the wrong order. That may be partly dictated by their discussion with Dave King. There may well be a need for urgency from King's side. The information vacuum isnt doing them any favours. It puts an already sceptical fanbase on edge. The absolute best thing that they could do is pause. Hit the pause button right now. Put together their proposal in a proper format. Make it available to members to scrutinise. Make it available to the wider support to try and encourage buy-in. Use the time between no and the end of January to get their pitch right and to build the case for buying King's shareholding. Have the vote in January and then start implementing if thats what the membership vote for.

I'm not really criticising them for their ambition to make this work or that they've got a bit ahead of themselves in the process I'd want to see them follow. There could well be a reason that they appear to be jumping the gun a little. I'd just advise them to step back, review things with a more critical eye and perhaps think a bit about how they're going to get a sceptical fanbase on board. The big danger is that if they get it wrong now then they're going to set their aims back a significant distance because they'll lose more of their membership.

It's time for cool heads and critical thinking. At the very minimum I'd be suggesting that C1872 start talking to SFSA and Paul Goodwin. I know he's not popular on here but he's been through fan buy-outs and could at least offer some informed advice. He's a genuine football guy. I'd also be suggesting speaking with the Foundation of Hearts guys, the Well Society people and even the Hamburg membership folk.

 

[Northampton_Loyalist]

They're doing things in the wrong order. That may be partly dictated by their discussion with Dave King. There may well be a need for urgency from King's side. The information vacuum isnt doing them any favours. It puts an already sceptical fanbase on edge. The absolute best thing that they could do is pause. Hit the pause button right now. Put together their proposal in a proper format. Make it available to members to scrutinise. Make it available to the wider support to try and encourage buy-in. Use the time between no and the end of January to get their pitch right and to build the case for buying King's shareholding. Have the vote in January and then start implementing if thats what the membership vote for.

I'm not really criticising them for their ambition to make this work or that they've got a bit ahead of themselves in the process I'd want to see them follow. There could well be a reason that they appear to be jumping the gun a little. I'd just advise them to step back, review things with a more critical eye and perhaps think a bit about how they're going to get a sceptical fanbase on board. The big danger is that if they get it wrong now then they're going to set their aims back a significant distance because they'll lose more of their membership.

It's time for cool heads and critical thinking. At the very minimum I'd be suggesting that C1872 start talking to SFSA and Paul Goodwin. I know he's not popular on here but he's been through fan buy-outs and could at least offer some informed advice. He's a genuine football guy. I'd also be suggesting speaking with the Foundation of Hearts guys, the Well Society people and even the Hamburg membership folk.

For a 3 year deal?

 

[iaatpies]

For a 3 year deal?

Yes.

His preferred option may be to sell to C1872 over a 3 year period. That option may well come against another interested party looking to buy his shares sooner. It's entirely possible that King is looking for assurances that C1872 are able to commit to the preferred 3 year transition period whilst he considers an alternative offer from somebody who would want a deal done now.

May well be a situation where King will sell to another party in the near future if C1872 can't provide the appropriate assurances that would see him reject another offer and go ahead with the 3 year transition.