Post by weerabwatt on Jun 6, 2024 12:49:14 GMT
An interesting meeting last night, with two very articulate guest speakers outlining their experience, one giving general info and the other specifically about his club, Clydebank. His story of the rise from non-existence to the current situation of Clydebank is inspiring.
The one issue that interested me the most was how is purchasing blocks of shares from individual shareholders, or groups of shareholders, going to benefit the football club financially, if those shareholders are looking to benefit financially (as they are more than likely to). After the meeting ended, I spoke to Sean Miller and specifically asked that question. His answer left me as confused as before. Clearly there is a lot of work to be done before there is any serious chance of fan ownership getting off the ground. As the old saying goes, the devil is in the detail.
Until shareholders are asked directly whether they are willing to donate or sell their shares, the project of fans having control, or fans having a significant say in the running of ARFC, will not progress. Having about 30 years experience of contact with shareholders, I know that most of them, with large or small holdings, are unlikely to sell or just hand them over. Some see their shares like a family heirloom, some are convinced that they will one day have financial value.
Another point that I put to Sean is the financial state of the club. The current accounting period ends on 30th June 24. It is absolutely imperative that the figures for this period become available sooner rather than later, to enable those interested in fan ownership, to know exactly what they are taking on in terms of current debt. A repeat of the delay in holding the most recent AGM in March 2024, nine months after the end of the last accounting period, is totally unacceptable. Pressure should be brought to bear on the current BOD to ensure timeous delivery of the accounts/AGM.
The one issue that interested me the most was how is purchasing blocks of shares from individual shareholders, or groups of shareholders, going to benefit the football club financially, if those shareholders are looking to benefit financially (as they are more than likely to). After the meeting ended, I spoke to Sean Miller and specifically asked that question. His answer left me as confused as before. Clearly there is a lot of work to be done before there is any serious chance of fan ownership getting off the ground. As the old saying goes, the devil is in the detail.
Until shareholders are asked directly whether they are willing to donate or sell their shares, the project of fans having control, or fans having a significant say in the running of ARFC, will not progress. Having about 30 years experience of contact with shareholders, I know that most of them, with large or small holdings, are unlikely to sell or just hand them over. Some see their shares like a family heirloom, some are convinced that they will one day have financial value.
Another point that I put to Sean is the financial state of the club. The current accounting period ends on 30th June 24. It is absolutely imperative that the figures for this period become available sooner rather than later, to enable those interested in fan ownership, to know exactly what they are taking on in terms of current debt. A repeat of the delay in holding the most recent AGM in March 2024, nine months after the end of the last accounting period, is totally unacceptable. Pressure should be brought to bear on the current BOD to ensure timeous delivery of the accounts/AGM.
