steelboy

https://x.com/GavinMcCafferty/status/1800426228651844045?t=80n4AfcJpDyFrmSl3TFQVA&s=19 Some good points from Gavin McCafferty. The possibility of a divided fanbase is the biggest danger to the long term prospects of the club.

Anyone who believes that there is an untapped revenue stream out there which only Erik Barmack knows about and it's is going to give only us a significant long term boost is a complete mug. We are growing our turnover year on year and the focus should always be on improving our core football business. That's where improvements need to be made, talking about AI and celebrities is smoke and mirrors to draw in easily impressed morons. The deal only offers short term protection so in 2030 we would be in a position where all the assets can be sold by Barmack and the Society will have given up it's entire bank balance and won't be able to offer any protection to the club. It would be utter madness to go down this path. We only need to look at the ways that Mike Ashley crippled Rangers by using his control over the club to sign them up to deals that were suicidal for them but very lucrative for companies controlled by him. This deal means could Barmack could put in a small amount of money and on day one sign us to expensive and long term Artificial Intelligence and marketing contracts. There are lots of ways to take money out a football club.

The two co-chairmen of the Well Society are in favour of the deal and they have the mandate from the previous vote so it obviously preceeded. If the Society board was 9-0 against it we probably wouldn't be having a vote but 6-3 means it has to be entertained. Anyone who votes for this is off their head, the club valued at £4 million quid is ridiculous.

If that's as constructive as he can manage then it's a bad sign. He's said nothing about exactly what he's planning to do with the club when he gets control and is trying to set it up as 50+1 German style set up when it's nothing like that.

I still can't believe that McMahon and Barmack are proposing that the Well Society pays £1.8 million to give away over 1/3rd of our shareholding. At their fake valuation of the club that's a £2.8m reduction in Well Society assets. The KLF only burned 1 million quid. They've got nothing on Tom Feeley.

The Well Society twitter account announced it.

Feeley and Dickie were involved all the way.

So when are we expecting Tom Feeley to resign?

It's not a counter proposal ffs. It's just a new plan. As someone said on P&B the onus for generating new revenue should be on the people working full time at Fir Park who are professionals in those areas.

Forgetting the Barmack insult offer it's important to look at the Well Society side of things. Despite losing majority control and going from 71% to 46% the Society is being asked to put in £1.85 million which conveniently enough is close to the total amount of cash at hand combined with the money owed to it by MFC. So in 6 years time when Barmack is free to sell up the Well Society will be totally skint and a total non factor in any future takeovers. I'd say it's very revealing that McMahon and Dickie's plan basically involves liquidating the Society.

This full thing is a piss take but the biggest part is reducing the value of the club due to the debt. Somehow the debt owed to the Well Society reduces the value of the club by the full amount even if half of it is later forgiven. And the Scottish government loan which is interest free and paid over 20 years is deducted from the value at it's current outstanding amount even although the payments we make in the 2030s will be relatively far smaller due to inflation. Desperate and pathetic stuff from McMahon and Dickie.

I think Dickie owns 10%. The proposal is the Well Society goes down to 46%. Being extremely cynical I think the desired outcome for McMahon, Dickie, Wilson, Weir etc is that they end up buying the shares back from Barmack after the docuseries stuff is over and regain control of the club.

Douglas Dickie has already left the Society board now that his attempts to screw us over have failed. We all knew exactly what he is anyway. I feel sorry for Feely because he's obviously put a lot of time and effort into the Society and now destroyed his reputation over this. Absolute madness from him. We all owe a big debt to Derek, Sean, Amber, Jay, Phil and whoever the 6th vote was. Standing strong against this shitty proposal is a huge demonstration of the value of fan ownership.

A goalie that can catch a cross. The occasional clean sheet. Scoring the first goal in a home game. Just simple stuff like that really.

No I simply don't think we should be handing over the club for £300,000 a year for the next 6 years.

If you read the Well Society response to the offer all the details are there and it's exactly as predicted. * Club undervalued *Shit offer from Barmack * Well Society has to give up majority control * Well Society has to basically hand over all the cash reserves they have built up over the next few years in return for a reduced shareholding * Barmack wants his production company to make a docuseries. Exactly as I called it months ago and got pelters for......

What kind of progress are you looking for? We are never going to match Aberdeen, Hearts and Hibs for budgets. It doesn't matter who invests. Also assets are only protected for 6 years.

He does have a business plan but it involves his production company making all the profits.

The business plan is "explore new worlds"!

McMahon wants to give him control of the club on day one for less than the sum we paid for Shaun McSkimming in 1994. It's absolutely crazy and i'm obviously glad it's so shite it's stone dead but there will be consequences for us now in that we are weaker in transfer dealings now we've announced we're worth heehaw and we will have every chancer in the world coming in and trying to take over for a bag of balls more than Barmack's pittance.

He'll get 49% from a share issue. There's absolutely nothing stopping him from buying 1%-2% from a private investor and taking majority control.

I thought you were against anything that resulted in the Well Society having less than 51%? The idea that Barmack's offer has to be compared against the new Well Society plan is idiotic. His offer is pish and massively undervalues the club. If he's lowballing us when he needs us to vote for him what do people think he's going to do when he's in full control?

The Well Society don't have to offer anything. They will just keep running the club and trying to increase cash flow.

It's sobering to think that they believe our support is stupid enough to accept this. Whoever the three people in favour of this on the Well Society board are need to be removed asap.

It's always been about his production company trying to sell content to streamers.