steelboy

The only time we have had significant injections of money from outside investors in my lifetime has been with Boyle for the first four years of his ownership which ended up almost killing the club then Les coming in and handing his chequebook to Barraclough which was another disaster. We have performed better as a football club when we are standing on our own feet. A change from a Jim McMahon dominated board to one which reflects the Well Society's position doesn't have to change anything financially.

Aye it seems clear that 1. The proposal is in direct conflict with the Well Society constitution 2. The situation with the Well Society appointed Executive Board members is shambolic meaning the Society has not been properly represented during the process. 3. The very late change to the Head of Terms with seemingly no Society input invalidates the entire 4 month process. Just tell the members we cannot proceed legally and start talking to Barmack directly.

Start the new negotations with three red lines. (1) The Well Society cannot drop below 51%. (2) The Well Society will not fund any reduction of its own shareholding. (3) The make up of the board will reflect the existing shareholding. Barmack will have as much influence as his shareholding and overall contribution to the club merits.

It's good to see they are emphasising legal advice. Call the vote off and restart negotiations with Barmack directly through the new Society Board. The fact that we have had people in charge of this process who apparently only discovered the official definition of fan ownership two days ago perfectly enscapulates how farcical every aspect of this is.

Cheers. This is impossible. If Barmack is to go from 0-46% and the the Well Society from 71% to 51% with Barmack putting in only 10% more money that the Well Society then Barmack has to be paying a significantly lower price per share. It also doesn't clear up the range of percentage the Well Society can end up with dependent on private shareholder uptake. And we also need to know if Erik Barmack can buy any more shares if the Well Society runs out of funds.

You better hope they do or you will have wasted your time for months.

If he's at a fighting weight bring him home.

If people are paying a fiver to sign up to kill fan ownership they can get to fuck. I'll definitely be asking about this whenever the 'surgeries' are happening.

It opens up the chance that Barmack is signing up fake members to vote on his behalf. If it's a fiver a vote then it's money well spent for him.

It's also has to be said that Caldwell and Lindsay have lost all credibility as board members this week. The argument that we can rely on them to protect the fan's interest on Barmack's board is a load of shite. If they signed off on Wednesday's statement they will sign off on anything.

They surely can't be letting people who have signed up during this process have a vote?

Halliday might literally struggle to bend down to tie their laces.

I said the other day that I was worried about the Well Society communications and this has increased now. Now McMahon can frame a revised offer as reasonable and protecting fan ownership when it's nothing of the kind. The Society board should have been shouting from the rooftops about a massive undervaluation and the unfairness of paying out all our cash reserves in return for a huge reduction in shareholding. Instead McMahon has set the agenda all week and we've heard nothing from the Society.

Can you ask for details of the share subscription in each of the 6 years. Specifically how many shares, who can buy them and how much each party pays per share?

Even if the Well Society does manage to scrape the money together to get the 50.1% shareholding they will still have no reserves in 6 years time which means 1 bad season and Barmack will be offering to cover it for full control. The deal stinks.

It's not even 51%. It's 50.1%. It's completely transparent.

It's also notable that when it suits McMahon it's all legally binding periods, head of terms and corporate finance experts. Then as soon as he realises he's made an arse of it the red pen comes out and he can make changes on the fly. A total fucking chancer

Converting the loan to shares while still losing overall shareholding is still basically forgiving the loan.

This is the kind of proposal I expected from day one. A plan which claims to maintain fan ownership but is designed to end it covertly. The Society need to communicate this clrearly. They should be taking apart Barmack's bid before they launch their own plan.

Aye the chances are the Society will run out of money and not be able to buy enough shares. It's still a rip off where we pay £1.8 million to lose a huge amount of our shareholding. Also Barmack still has control of the board from day one.

Takes the piss for three years. Gets a two year extension. No wonder he loves the Well. The midfield is going to be a horror show next season.

I have no idea what they are thinking but the way the Executive Board has conducted itself means that if they lose the vote there's no way they can be part of developing the next stage of fan ownership. I would guess they would resign and leave in a structured manner rather than face an EGM. Given that Barmack hasn't posted since the weekend Whatsapp leaks I suspect his outlook has changed. I don't think getting made to look like a dick online by Scottish football fans was part of his business plan.

There's no scope for a second offer. Either it passes and fan ownership is over and Barmack takes control or it's rejected and McMahon and Dickie are cleared out and Caldwell and Lindsay get a wee friendly reminder of who owns the club. Barmack isn't interested in working with real fan ownership.

Tbh I don't think Robinson is that bad a signing and if we start the season with Bair, the Serb, Moses and Robinson that looks decent and suggests that we are hopefully switching to two up top. The problem is clearly central defence and centre mid where we seem to be spending money without getting what we need.

In the recent past we have signed Kelly, Gallagher, SOD, Spittal, Goss, KVV, Aldred, Hartley, Cole and others who fit the bill of having decent experience, in their prime years of 25-30 and not total crocks. If you look at Kettlewell's permanent signings through three transfer windows none of them fit that bill. Everyone knows we need a player for the centre of the defence and a midfielder to play with Miller who have some quality and experience but he's obviously not got the managerial ability to get the players in. 12 months ago we had people saying Obika, Paton, Wilkinson and Soare would be good signings for us. He's doing exactly the same shite as last season again.