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Nobby Solano And A London Based Consortium

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Typical headlines from the daily ranger and sunday mail, says spoke about taking over motherwell, i say the same thing, dis'nae mean it's happening any time soon.

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In all serious though I expect if this advanced due diligence will be done before signing on the dotted line as Murray may get his behind felt for offloading Rangers to Whyte, I'm sure Boyle wants no chance of being accused of punting us on to a bunch of chancers.

 

I suspect no Nobby Solano anywhere near FP. Black given his jotters so he can link up with McCall's next gig. WS Members to get their cash back in a lump sum. A number of people behind the scenes given golden handshakes or made walk.

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In all serious though I expect if this advanced due diligence will be done before signing on the dotted line as Murray may get his behind felt for offloading Rangers to Whyte, I'm sure Boyle wants no chance of being accused of punting us on to a bunch of chancers.

 

I suspect no Nobby Solano anywhere near FP. Black given his jotters so he can link up with McCall's next gig. WS Members to get their cash back in a lump sum. A number of people behind the scenes given golden handshakes or made walk.

 

:blink:

 

Boyle offloaded his shares years ago, whilst leaving us with a repayable debt burden, so no link to next owners, if its not the trustees or Society.

 

Society members getting cash back? I dont think that is even legally possible, as money would go to a local charity likley the community trust. but even then why woudl the society give up its share in MFC, which they still have some time to buy mor ewith whatever funds are available

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The post the well society put up last week suggested the society rules could be changed to repay the members if fan ownership is abandoned.

 

It also mentioned that the society would be repaid the £150,000 if the takeover goes through. It's unclear if the 5% shareholding was ever transferred to the society. That will be cleared up tomorrow.

 

By the sounds of things Boyle has control of his shareholding again and Weir and McMahon were dismissed from controlling the trust.

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By the sounds of things Boyle has control of his shareholding again and Weir and McMahon were dismissed from controlling the trust.

 

I'm not saying that's wrong, but it seems bit strange that the Trustees could be dismissed without as resolution and a vote from the Trust Members.

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Well Society statement:

 

http://www.thewellso...2014/11/24/724/

 

The uncertainty goes on...

Masters of ambiguity are the Society...

 

But, we'll have a meeting in December? To tell us what? Achieved the impossible dream? Invented the wheel? A small band have succeeded in ownership of our club, just the small matter of the rank & file being liable for the loan(s) to secure a select few's club blazer & tie requirements? All without consultation & vote?

 

Money-Down-The-Drain-300x196.jpg

 

Lack of clarity has gone beyond frustration with me & no doubt plenty others. The ideal of fan ownership requires an engagement of the fans, again the Society haven't covered themselves in glory.

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just the small matter of the rank & file being liable for the loan(s) to secure a select few's club blazer & tie requirements?

 

 

No idea where you're getting this pish from. Comments like this really don't help.

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Starting to wish I hadn't thrown away £350 on this.

 

Didn't even get to meet Higdon or Randolph at the sign up night.

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No idea where you're getting this pish from. Comments like this really don't help.

And the equivocal nature of communication from the Society does?

 

When not playing truant & glue sniffing, learned the definition of 'loan' as being an act of lending something to someone, a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.

 

The question of liability was raised via social media & as yet remains unanswered which seems to be par for the course. It's not a secret society that I joined - if I wanted to, I'd attend the temple down on Hope Street - it's the Society boards' outlook that gives rise to the 'in it only for the blazers' quip.

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The fact that so little has been made public is a stain on the credibilty of the society and goes against its stated objectives.

 

The society should be working in the interest of its members not smoothing things over for the club board or John Boyle.

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Perhaps confidential negotiations need to progress to the point where a matter can be put to the Society?

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Perhaps confidential negotiations need to progress to the point where a matter can be put to the Society?

That's a given, but, time is of the essence - club ownership may well have changed when, given their track record, the board decide to inform the membership...

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Starting to wish I hadn't thrown away £350 on this.

 

Didn't even get to meet Higdon or Randolph at the sign up night.

 

If it wasn't for the Society and their loans to the club, we could have been in administration by now. For that reason alone I'm glad I put my money in.

 

That doesn't mean I'm happy with the current situation, but I totally understand why no details can be given to a broader audience. It's more the content, nature and style of the communications that concern me as they sound very unprofessional and, initially at least, were more about scaremongering than information.

 

If we had something like the following, a lot of this could have been avoided - "there are discussions ongoing with potential investors, and until such time as informing members meets the relevant financial regulations, we will be unable to provide more information. Rest assured that in the event the Society meets its target and is in a position to safeguard the club, all decisions will be put to the membership for a vote"

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If it wasn't for the society, maybe we'd have cut our cloth accordingly a couple of years ago as opposed to providing a safety net for wreckless budgeting and boosting Dempster's profile.

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If it wasn't for the Society and their loans to the club, we could have been in administration by now. For that reason alone I'm glad I put my money in.

 

That doesn't mean I'm happy with the current situation, but I totally understand why no details can be given to a broader audience. It's more the content, nature and style of the communications that concern me as they sound very unprofessional and, initially at least, were more about scaremongering than information.

 

If we had something like the following, a lot of this could have been avoided - "there are discussions ongoing with potential investors, and until such time as informing members meets the relevant financial regulations, we will be unable to provide more information. Rest assured that in the event the Society meets its target and is in a position to safeguard the club, all decisions will be put to the membership for a vote"

That's a misnomer - monies were to alleviate temporary cash flow issues as no bank debt, taxes declared and paid up in full in timely fashion... only John Boyle could take them down that path again if hew wasn't receiving his annual return.

 

Can't disagree with the other points.

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If it wasn't for the society, maybe we'd have cut our cloth accordingly a couple of years ago as opposed to providing a safety net for wreckless budgeting and boosting Dempster's profile.

 

Like every club, there is a soft period in the winter where we need to borrow money based on projected income later in the year. We have trouble getting short term bank loans for this, so the Society provides a loan on favourable terms. That seems like a sensible business model to me for a club that doesn't have benefactors to turn to instead.

 

Apart from this season, where it has remained flat, our budget has been cut year on year for the last 4 or 5 years. That seems like a reasonable approach to me compared to making one huge cut and putting us in the relegation zone.

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There's absolutely no danger of WS members being personally liable for any loans. Thought this question had been answered (below) when it was put on social media, apologies if it went unanswered elsewhere. Obviously haven't explained in more detail yet but hands are tied at the moment until there is some form of agreement in principle. Clearly we were desperate for some concrete news in time for tonight but there are legal reasons why all information can't be shared, and it would be entirely self-destructive to the aims of the society if we were to do so. Doesn't mean some information can't be shared but just not all. But there will be another meeting soon and hopefully very soon. Clearly, there has to be a lot more information and engagement in the future if community ownership is to work, and a lot of things improved on, but communication has been very difficult recently amid the current constraints.

 

4782a15fd9bd649ce694f3b79e3edbef_normal.pngThe Well Society @TheWellSociety · Nov 2@Malloyal @mr8man Absolutely no danger whatsoever of any WS member being liable for any debt. will try to explain in more detail very soon

 

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Not much to report from the meeting.

 

The society had an individual who was willing to loan money to see the society to the target but the board refused the offer because of conditions attached. No details of the conditions or the individual can be revealed because of another confidentiality agreement.

 

Weir, Wilson and McMahon currently control the shareholding legally but can be dismissed at any time by Boyle so he effectively controls it. I asked who would receive the money from any sale of the shares to an outside consortium and was told 'it depends' and that there might not be any money.

 

The current situation is being driven by John Boyle's concern for the long term future of the club. The same John Boyle who put us into administration and left hundreds of people stranded in Canada when he cut the throat of his airline. He must be a changed man in his old age.

 

Brian McCafferty was very optimistic about the society reaching it's goals and even if i don't agree with the non disclosure agreements the board do appear to be doing everything they can to move things forward positively. It seems like the next meeting will either be informing us we have met the £800,000 or discussing what role the society should play in the event of an outside takeover.

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Not much to report from the meeting.

 

Brian McCafferty was very optimistic about the society reaching it's goals and even if i don't agree with the non disclosure agreements the board do appear to be doing everything they can to move things forward positively. It seems like the next meeting will either be informing us we have met the £800,000 or discussing what role the society should play in the event of an outside takeover.

 

Cheers for the update Steelboy. So is the Society goal the original £800k or the additional £1mil?

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As usual on here random pish being posted by people who know fuck all about what is actually going on, bad mouthing and putting the boot into all and sundry through no basis of fact

 

See when some actual information comes out then feel free to fill your boots with this pish. See until then why not just shut the fuck up?

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Cheers for the update Steelboy. So is the Society goal the original £800k or the additional £1mil?

 

I got the impression it was the £800,000 but i'm not 100% sure.

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