New Investment Options

[steelboy]

4 minutes ago, David said:

When we get right down to the brass tacks here, what we're effectively doing is giving away majority control of the club to someone for less than £2 million.

If that's what some fans value the club at, then that's fair enough. I think it's laughable, though.

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.

 

 

[FirParkCornerExile]

2 minutes ago, David said:

Is that what's being offered? I haven't seen any concrete business plan to suggest that?

no, theres no way they could offer that. No one knows future cash generation , same for the WS. It was just a roundabout way of saying no one know if the offer is good or bad going forward based on a purchase price? Anyone know how much John Boyle paid for us.

[bobbybingo]

9 minutes ago, David said:

When we get right down to the brass tacks here, what we're effectively doing is giving away majority control of the club to someone for less than £2 million.

If that's what some fans value the club at, then that's fair enough. I think it's laughable, though.

2 Theo Bairs and a Mars bar.

[steelboy]

4 minutes ago, David said:

Is that what's being offered? I haven't seen any concrete business plan to suggest that?

The business plan is "explore new worlds"!

 

[David]

Just now, steelboy said:

The business plan is "explore new worlds"!

Ah, the classic "I don't actually have a business plan, so I'll just throw out a modern-business word salad in the hopes that the plebs are blinded by mentions of "Netflix" and "Los Angeles-based" operator"

[bobbybingo]

8 minutes ago, steelboy said:

The business plan is "explore new worlds"!

 

Sounds like a 5 year mission...

[steelboy]

1 minute ago, David said:

Ah, the classic "I don't actually have a business plan, so I'll just throw out a modern-business word salad in the hopes that the plebs are blinded by mentions of "Netflix" and "Los Angeles-based" operator"

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

[Casagolda]

41 minutes ago, wellgirl said:

Well yeah. People can vote as they please but if the well society are saying no to this - then do they have their own proposal? Sure it was said a couple of months ago they were working on one. Folk need to vote as they see fit. I haven't looked at the statement yet but I'm not going to be voting yes or no based on what the well society think or be influenced over what folks on social media think. 

Run the club the way it has been for the last decade.

Invest in the squad in the right ways. Try and avoid costly situation like the Alexander exit.

The cash flow of the club is going to increase as new TV rights for the league increase. Commercial deals increase.

There is rumours of a Theo Bair transfer of around £1m. Lennon Miller is easily worth 5x that. And you think the club should be handed over for a pittance?

Given The Well Society also has to forgive half the money owed to the club it seems like Erik doesn't actually have the money. He is taking the Well Society monney for himself in effect. That should be a complete non-starter and I don't know why anyone in charge of the well society should have agreed to that.

And after he has taken our money he says that we can buy back the shares we gave him at an inflated price.

[David]

Just now, steelboy said:

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

I mean a business plan that would demonstrate to us, the Motherwell fanbase and Society membership, that the deal is of benefit to us long-term.

[Richie]

Erik Barmack is currently fielding questions on Pie and Bovril (Assuming it isn't an elaborate wind-up)

[Benson]

My opinion is it's a goer if the asset side of things is safeguarded and they cannot have more than the 49%,it's a bit like dragons den in that you are hoping you can with new eyes open up new revenue streams and business contacts,it's where we are as a club and we weren't exactly overcome with offers,as a previous poster posted can we progress more with the occasional race night and a home baking fundraiser.

[steelboy]

3 minutes ago, Benson said:

My opinion is it's a goer if the asset side of things is safeguarded and they cannot have more than the 49%,it's a bit like dragons den in that you are hoping you can with new eyes open up new revenue streams and business contacts,it's where we are as a club and we weren't exactly overcome with offers,as a previous poster posted can we progress more with the occasional race night and a home baking fundraiser.

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.

[stv]

These investors are buisness people trying to make money. At the end of the day . They aren’t doing it for the benefit of our wee club. Not like Les H at all.

These are big boys and we are the kids scrabbling about trying to keep things going year to year on a shoesting.. Dare I say they have been putting deals , multi million pound deals together for years for their benefit not others.
This might be an offer to see if we are desperate enough to take it ,looks like we are by the way, a second one may appear when this one’s rejected.  If not they walk away and try someting diffrent to make money.

A few comments on a forum from fans that really don’t know all the ins and outs of the situation acting like financal advisers is great a debate but probably miles away from the truth.

We haven’t had to deal with outside investors for years now . But welcome to the real world now.  Who would be mad enough to volunteer for the Well Society board now. 

[steelboy]

2 minutes ago, stv said:

 

A few comments on a forum from fans that really don’t know all the ins and outs of the situation acting like financal advisers is great a debate but probably miles away from the truth.

 

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......

[stv]

Just now, steelboy said:

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......

Did you think they were going to say here’s 7 million quid spend it wisely.

[steelboy]

1 minute ago, stv said:

Did you think they were going to say here’s 7 million quid spend it wisely.

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

[Benson]

2 minutes ago, stv said:

Did you think they were going to say here’s 7 million quid spend it wisely.

I reckon folk did have a figure in their mind and your 7 million quid might be near the truth,if it's the cash offer that's tge issue would love some of their opinions on the amount they would find acceptable 

[weeyin]

As I said on here after the initial vote, there was no way I'd want to surrender control of the club to any investor. The derisory offer is exactly why.

The details are pretty much the kind of undervalued nonsense I anticipated. If it had been the kind of offer that Brailsford made at Man U - 25% of the shares and some influence over the running of the club - I'd have been interested to hear more.

And I still don't see an exit strategy.

I think he's trying to emulate the Glasers and get control of a club at an undervalued price with minimal investment coming from his own pocket.

Anyone who votes in favour of this would be voting for the destruction of the club; and I don't say that to be dramatic. It's a terrible offer.

[Benson]

22 minutes ago, steelboy said:

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.

Your known to moan after every game we play,so what progress are u looking for with the finances we are working with?

[weeyin]

52 minutes ago, StAndrew7 said:

For clarity; this can get in the fucking sea where it belongs (in my opinion).

You've lost me a bit with your financial terminology there, but I think I agree.

[mfc]

To have got to this point and that's the offer on the table is a disgrace and to those that were happy to sell the club down the river for a pittance should be run out of town.

[steelboy]

3 minutes ago, Benson said:

Your known to moan after every game we play,so what progress are u looking for with the finances we are working with?

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.

 

[steelboy]

Just now, mfc said:

To have got to this point and that's the offer on the table is a disgrace and to those that were happy to sell the club down the river for a pittance should be run out of town.

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.

[dennyc]

33 minutes ago, steelboy said:

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 also fear that is the case. Do we know what % of shares are currently held by each of Dickie and McMahon? Or what % the WS would actually have if this proposal went through? I can see the WS being sidelined in very quick time. Then again, they have been for years.

But the dilemma I have is that I cannot see how the WS alone can generate sufficient funds to sustain us in the top division, dependent upon player sales for survival. That also....in my opinion....is fraught with too much risk. Their proposal needs to come soon and be realistic.

Also I have to factor in that I do not trust McMahon and in my view he has undermined the Society since day one and has been party to Society funds being treated as a piggy bank to be raided at will. So I do not believe a word he says.

 

[stv]

5 minutes ago, steelboy said:

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

Absolutely correct, its peanuts  , they are trying to get a bargain as money men always are . They can see  we really do need some new money in the club , it’s obvious and they have offered accordingly .