StAndrew7

Apparently he took a lot of the flack from the St J fans for last year's poor performances; captain, local lad, winner of two cups etc. A fresh start with an adoring, forgiving fanbase is just what he needs... 👀

Happy with that one; 6' 3" and all we really need to ask of him is to win headers and get the ball to fuck so that's perfect. Essentially the Bevis role without the added Bevis shenanigans. St J fan on P&B says he played his best football centrally in a 3, so that's ideal. Next; a keeper, LWB x2 (one of those will probably be a loan) and I'll be upgrading from pleased to very pleased with out business. Also, at this point last year, we'd only signed Obika (cc @capt_oats on P&B for that). Kudos to getting the business done early to Ketts / Dawes / Caldwell.

I've not seen anything to confirm that, he's down on the squad update as having been offered a new deal and negotiating, like you say.

Was about to say much of the same. Expecting a rejuvenated WS Board to come in and change anywhere from 5-10+ years of what appears to have been stagnation or potentially downright mismanagement under the watch of the previous incumbents, coupled with what seemingly had been a Yes sir/no sir/three bags full etc. relationship with the Chairman in less than a year isn't fair. As for the business plan being a result of the situation we're now in, that's not entirely accurate. My understanding is that it was already under development/in its initial stages before Christmas and has since picked up as significant a pace as it can with the time constraints the board have, based on the short notice of facto the original HoT being delivered to them. I agree some things can/could have been done quicker (the standalone website being a good example of that) but to write the board off before there's been any chance to present anything isn't fair, but as always, each to their own opinion etc. I think the Foundation of Hearts is the kind of structure in terms of comms, presence etc. is what we should be aiming for, personally. Its size and stature is unrealistic for us, purely based on the funds they have available to them from one or two individuals and the size of the Hearts fanbase. All this shows to me is just how broken our "fan ownership" model has become, as a result of the Les investment and subsequent sale changing the original plans and so on. There's a catalogue of errors and issues that go back much further than the current WS board.

Yes. £300k for three seats on the board and chairmanship with the casting vote.

The latter is definitely my understanding and I believe that of the Well Society board too, I think Derek posted similar on Twitter the other night.

More annoyance incoming...

Summary is as follows: - 6 different share issues every August for 6 years. - each issue will have a different number of shares issued and at a different price per share (the same price for everyone each year but at a different price each year) - calculation is fully re-worked by legal advisors at the moment (due to the changes) - was always the intention and remains that this calculation for each of the 6 years is fully detailed in the Heads of Terms to be released with the voting papers - current private/other shareholders would still have the opportunity to buy a number of the new shares based on their current shareholding at the time of each issue – this is a fundamental legal right that they hold. - if they did not wish to acquire any of the new shares within the first release, still able to participate in future releases. - basically will be asked 6 times what they would like to do and will make 6 separate decisions with full papers being released to them on each occasion. - should some of the current other shareholders decide not to purchase any further shares, then the Well Society will acquire those shares Also confirmed that both the Club and WS have engaged outside legal teams to advise on the deals independently.

Got a reply, it covers this off. Will post it in a bit.

I joined last week (Tuesday I think), other than a confirmation of my DD, nothing. I emailed them my details too.

The Society needed to get in front of this and I think there's been a real missed opportunity this week, being honest. Now that this "revised offer" (read: the plan all along) has been provided in (unsurprisingly) a lot less detail than the lengthy statements issued previously, people will think it's a far better deal than the original and vote for it because "why the fuck not, this lad seems alright". It's pretty standard business practice; go in with shite, tweak it a bit, then convince the turkeys you won't do anything to them at Thanksgiving but never mention Christmas being round the corner.

If he's publicly admitting that he has no fucking plan (as we all know from how shite this all is), then this has to be killed right now. He's already said to @David on P&B he only has 10% of the information he needs to formulate one. The Exec Board's integrity is totally gone here if they're willing to give control of the club to a randomer who admits he's got absolutely no idea about what he's going to be doing. If this were a takeover/investment proposal for a "proper" company this would have fallen the minute he said "Let's see what happens, lol." I've written to the club today to ask what independent financial due diligence has been carried out on the proposal, as McMahon said he would (highly) recommend doing that at the AGM... although that was when he was planning to step down and have nothing to do with the negotiations, so maybe his opinion of his own calculations mean we don't need an independent auditor involved... Once I've got a reply to that, I'll be asking for more details of Mr Barmack's business plan, investment strategy, ROI calculations and what KPIs will be used to measure the "success" over the first two seasons prior to the WS deciding if he and and his wife are adding any value.

Which is totally fine? Making some changes to a really shite deal doesn't mean it suddenly becomes a great one. It still values the club poorly and the WS as majority shareholder hasn't been engaged in the revision at all; the statement quite clearly says it's been the Board of Directors and the Barmacks doing this. Whilst it leaves the WS as majority shareholder, Barmack will still have Chairmanship and the casting vote on the Exec Board if this goes through. As much as the WS will be the majority shareholder it doesn't mean that they have the full control to which they are entitled.

Given the statement doesn't mention a change to him/Wild Sheep Sports receiving the Chairmanship and casting vote of the board, I assume that's going to remain...

Just to be pedantic, technically that's not true; it's being converted into shares, which is a different thing. Writing it off would be a total loss of (our) money, getting it as shares is an investment into the club. I just said on P&B that I think this might sway a few undecideds/those closer to a yes vote.

Hmmm. Still smelling shite, although it is slightly more palatable; no WS matching investment, buyback is (a bit) cheaper. I assume he'll still get Chairmanship of the EB with the casting vote, as that's not mentioned.

Played for County though eh, so he's infected.

Handsome/Ginger/Teuchter/Staunch as fuck, though.

My biggest concern right now is that we have no left-sided wing/full backs in the squad, other than Wilson. I know Blaney is in the "could do a job" group there but I think he's firmly a centre back; doesn't have the pace or athleticism to play as a modern WB/FB that Ketts wants. I'd love us to get someone akin to Furlong back in.

If there even IS one... If the WS are being requested to develop one/demonstrate how they can better support the club along those lines, he should be too, rather than just posting on a forum and letting McMahon lecture people on why it's a good deal without providing anything of substance.

I think he could pick a pass, too. He was decent as a high-10/shadow striker for KVV at points but like you say, never quite consistent enough for premiership standard. Also too small, really.

tl;dr: "We know what's best, you're too stupid to understand it all and that's it." Read it in Jim McMahon's voice. Then it makes perfect sense.

Investment update #2 This might take a while to digest...

I only skimmed the rules so if that's the case fair play. I wasn't sure how governing laws on cooperatives and societys which is mentioned came into things, in terms of rights of its members.