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Showing content with the highest reputation on 06/16/2024 in all areas
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4 points
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Really? You’re more concerned about that than Barmack openly discussing his ridiculous plans on internet forums and WhatsApp with people not involved with the club? His language and content doesn't suggest he’s serious about these negotiations. It’s very concerning that anyone would vote on the club’s future based only on the interested party’s curated information, ignoring the nitty gritty behind it. There’s ignorance, and then there’s willful ignorance.3 points
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The worrying thing is, you have someone saying, those communications are none of my business and I won't take them into account when voting. There's none so blind.3 points
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That was a dodgy judge looking out for racist polis. The ruling got overturned. https://www.theguardian.com/uk-news/2020/sep/16/scottish-police-officers-lose-disciplinary-fight-over-racist-messages This is also a different matter as it's someone in the conversation publishing rather than a third party demanding access.2 points
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This has turned into a total farce,barmack sounds like a complete fantasist,the sooner he's out the picture and guys like mcmahon are told to never darken our door again the better.2 points
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Those WhatsApp messages posted on P&B are simply unbelievable. And to think I've wasted valuable parts of my weekend trying to have a rational discussion with Barmack over there as if he's a serious prospective investor. And the kicker? He suggests that, under his leadership, the club would essentially override the manager on player signings and squad composition, all in the name of boosting marketing opportunities. The example he uses is his being able to secure £300k in sponsorship from a tequila brand owned by a friend on the condition that we sign two players from Latin America. He proposes just going over the manager's head and signing these players to secure that extra money.2 points
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2 points
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If the idea we could play a home game against the Old Firm at Wembley is even a semi-serious fund raising proposal, we better start padding the board room walls.2 points
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Aye the Well Society haven't mentioned it yet but hopefully they will. It's definitely something that needs to be communicated to members. I'm going to try and get a copy of the details of the annual subscription to see if there's any other wee hidden traps from the Executive Board in there.2 points
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Yeah, I've been drafting an email for a while and this is in there, sending it shortly.2 points
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Just because the members voted for a vague proposal about investment that would give up fan ownership doesn't mean the board should be putting forward a ridiculous offer where we are paying £1.8 million to give our shareholding away and getting nothing in return. The deal is the equivalent of having a £160,000 house and someone comes to your door and says they'll take a half share in the house for free but don't worry they'll put in 40 grand to build an extension. Oh aye and you need to put 35 grand towards that as well. And they are in total control of how the money is spent. It sounds like a wind up but this is the offer the club board are recommending.2 points
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What was the society board's decision at the time of executive board meeting, all I've read suggests that the society board vote was after the executive vote; therefore at that time, as StAndrew7 (I think, apologies if it wasn't) pointed out, it could be reasonably stated that they did enact this wishes of the membership who said they would consider an offer reducing the WS stake. And they now have that opportunity to reject or accept.2 points
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What he chooses to discuss on the forums is up to him and his team... certainly seems a bit ill-advised to me, but he's made a lot more money doing what he does than I ever will, so you have to assume he either knows what he's doing, or thinks he does. Either way, it's his choice. So yes, the thought that more suitable investors might be put off from dealing with us in future because we now apparently have previous for leaking private conversations during negotiations does concern me more than that.1 point
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I'd be more concerned about the legality of sharing them, as there appears to be precedent in Scots law for reasonable expectation of privacy in WhatsApp group chats.1 point
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Entirely as I see it. We agree. The only thing I would add is that since last year's changes to the WS Board, the new regime has been trying to effect change whilst battling internal barriers (Hopefully those barriers will soon be history). Seeking a return to original operating principles and testing more closely any request from MFC or other bodies for the release of those monies. So that is to their credit. It does strike me that it is no coincidence this attempt to diminish the Society further comes at a time when uncomfortable questions were being posed and the Club Board's influence within the Society was under threat. Suddenly the Society is not as compliant and so McMahon etc are under pressure.1 point
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I think what the past few days have highlighted is that there are major issues with the Executive Board (name should be changed to Club Board) and the Society Board. Although we saw positive change last year to the WS Board, more fresh blood is now required due to resignations. The make up of the Executive Board also needs to be examined as a matter of urgency. We need a settled, forward looklng leadership. I believe there have been some interested local parties who approached the club to invest in the recent past. Without knowing the details, perhaps this avenue could be looked at again? The bottom line is that the WS needs to take control of the Executive Board, being the major shareholder. As far as external investment goes, we require it, not to plug financial holes or to try to improve our status in Scottish football but to consolidate our position, both on but also off the field. That investment has to be right for us though. MFC is our club. Still, I'm looking forward to seeing what this week brings both on and especially off the field.1 point
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As a life long supporter of the club and a non member of the WS I can only say that from the details we have so far this investment deal looks like a crock of shit. A few points seem obvious 1. The governance of the WS from its formation until recently has been an ineffective shambles, taking in millions from the fans with no proper control on where or how that money was spent. 2. The existing club board have used the Fans/ WS as a piggy bank to raid whenever they wanted and the WS were compliant in allowing them to do so. Now they are desperate to get their cash out and walk away. 3. The deal they are so keen to endorse is basically selling the club to Barmack at a knock down price and at the same time fundamentally rendering the WS useless by taking their cash to reduce their own shareholding ffs, but they won't give a toss as they will have their cash and dissappear into the sunset. 4. So after the dust settles Barmack will quietly buy up the private share holdings to gain majority control without any prospect of interference from the WS which means the millions contributed by the members will have all been for nothing. 5. The club will then be in the hands of someone with no great love of football other than seeing a profit from selling it on when he inevitably gets bored. The club really needs to tell these investors to GTF and get it's own house in order first with proper and effective governance for the WS and the club board and then an only then can suitable investment be sought when there are effective safeguards in place to protect the club and its fans, especially the subscribing WS members.1 point
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Just found the original email from 2017, it was £10 each with a minimum buy of 5.1 point
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https://www.greenocktelegraph.co.uk/news/24382878.bill-samuel-businessman-former-motherwell-chairman-dies/ It's also worth noting that our single largest shareholder just died so his shares may be available soon.1 point
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We can argue till the end of time about whether the Executive Board should be putting forward this proposal or their motives for supporting it, but once they've done so, can the Well Society board - under the rules - refuse to put it to a members vote because most of the board members think it's laughably shit?1 point
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@StAndrew7 Since you are a private shareholder can you ask the club for the price per share in the proposed annual share subscription for (i) Erik Barmack (ii) private shareholders (iii) the Well Society. Cheers The arithmetic on this suggests that private shareholders will actually have the option to increase their shareholding and that the Well Society could go even lower than 22%.1 point
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Anyone think Liam Kelly might be in against Switzerland? Not suggesting he will be but a chance I think1 point
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It's just more of the usual throwing accusations at the Society while trying to derail any talk about Barmack's game. She's been playing a stupid game since January DM'ing most of the regular posters on the board and posting constant sob stories about injuries, hospital stays and being skint. Very strange behaviour from a new poster who appeared right at the time of the bid.1 point