StAndrew7 Posted August 12 Share Posted August 12 2 minutes ago, scmwell said: Did they eventually get the sound going for punters on zoom I gave up after 15 minutes. Yeah, about 16 minutes in. 2 Quote Link to comment Share on other sites More sharing options...
scmwell Posted August 12 Share Posted August 12 Ha typical. Anything of note to report ? 0 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted August 12 Share Posted August 12 (edited) 7 minutes ago, scmwell said: Ha typical. Anything of note to report ? Nothing major so far; just had a couple of questions around the Exec Board make up and the plans for ongoing comms/keeping people updated - basically the response there was that it'll happen after the new WS Board is in place re: the EB and better comms will be part of the ongoing work the WS does. One about the investors that the WS "have in the wings" that have been hinted at and wanting to know who they are; that was covered off that things are confidential and also that stuff like that takes time etc. Edited August 12 by StAndrew7 2 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted August 12 Share Posted August 12 (edited) Question on how a Society Exec Board rep could vote against the wishes of the WS board. Sean replying currently; says that during the WS' governance workstream, it's been discovered that there's no formal shareholder agreement between the WS and the Club. That's being worked on now and there are nuances around roles of Directors and how they can be held accountable to the Membership of the WS. Tom F saying that he is one of the guys who found himself in that situation. When it first cropped up, it went to the Executive Board and they made the decision to go forward with it and investigate it, before it went to the WS board. It was not possible to ignore the opportunity to look at it and understand if it was a quality one or not. Bottom line is when it went to the WS Board, the "WS Guys" (not sure I like that phrasing... sound like he sees himself as separate to the rest of the WS Board) didn't see it that way. He accepts it may not have been the best opportunity we could have had but it was the best one at the time. He felt the failsafe in the deal would have been OK and to his mind it was "not a great problem". He was quite happy to give Erik Barmack the chance in that 2-year window to show what he could have done and we could have walked away from it... Of course, he made no acknowledgement of the cost of that to the Society. Very much felt like a "Acht, we'd have dealt with that at the time" kind of response/attitude. Edited August 12 by StAndrew7 2 Quote Link to comment Share on other sites More sharing options...
Swello Posted August 12 Share Posted August 12 Some Colin-ing going on. 2 Quote Link to comment Share on other sites More sharing options...
rowsdower Posted August 12 Share Posted August 12 4 minutes ago, Swello said: Some Colin-ing going on. Very disappointed I couldn't join to add balance to the Colin. Sorry. 1 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted August 12 Share Posted August 12 (edited) Colin Park is asking a lot of questions about transformational investment and if the WS are looking at that. Also what any potential investment would be valued at to be defined as "transformational". Sean and Derek have covered it off nicely; there's been mention of local businessmen by a few people as being the limit/extent of the WS' plan. Sean talked about finding the right balance, understanding what investment provides and also if something that was worth considering, it would absolutely go to the membership. Derek's making the point that we're not just looking locally. Strategic Investors are international; they're based overseas etc. Derek also pointing out that of course investment is welcome, but we need to remember what our business model as a football club is. Looking at Bair - we recruited, developed and sold him on for a huge value of cash. Tom saying good levels of investment/income, alongside the transfer fees we could get for Miller and others would be what would transform the Club, alongside cup finals, Europe etc. Sean makes a very good point; proving a self-sustainable model here at Motherwell would be absolutely transformational. He's concerned re: the financial bubble that the league is developing into. He's making good points about other owners (Bowie etc.) converting debt to shares. Not him trying to be negative; being transformational is being self-sustaining is far more of a success story and providing potential investors with the window to make money back. He sees that as a better selling point to investors. Edited August 12 by StAndrew7 7 Quote Link to comment Share on other sites More sharing options...
rowsdower Posted August 12 Share Posted August 12 On transformational investment, is that something you just have to decide to do? Might try it myself. 2 Quote Link to comment Share on other sites More sharing options...
Swello Posted August 12 Share Posted August 12 Zoom chat's turned into facebook 0 Quote Link to comment Share on other sites More sharing options...
ML4 Posted August 12 Share Posted August 12 All this "transformational" chat. There are people in the room who think there's a queue of wealthy investors looking to chuck money at the club for no return. It's fantasy. The future of the club is making more money, to have more money to spend and invest. It's that simple. Strategic investment can help achieve that for sure. 2 Quote Link to comment Share on other sites More sharing options...
rowsdower Posted August 12 Share Posted August 12 Talking about feelings now? 0 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted August 12 Share Posted August 12 Just now, ML4 said: All this "transformational" chat. There are people in the room who think there's a queue of wealthy investors looking to chuck money at the club for no return. It's fantasy. The future of the club is making more money, to have more money to spend and invest. It's that simple. Strategic investment can help achieve that for sure. Aye the transformational stuff is people looking for Reynolds/McElhenney type investment which will lead us down a path that I don't think is palatable for the majority of sensible fans. 1 Quote Link to comment Share on other sites More sharing options...
eliphas Posted August 12 Share Posted August 12 Thanks for the summaries @StAndrew7. Forgot to register for it so interesting to see. 1 Quote Link to comment Share on other sites More sharing options...
capt_oats Posted August 12 Share Posted August 12 That was...interesting. I had it on my in-ears while I was doing other stuff. Thankfully I didn't accidentally unmute myself and have everyone on the call hear me making my dinner. Also, just turn your cameras off lads. Anyway takeaways I had Speedie is really good, Feely is a weird guy and @StAndrew7's point above about him talking about the "WS guys" is kind of the crux of it - it feels like there's a palpable disconnect between him and...everything but he's still there The folk pushing the 'transformational' chat seem completely out of step with what the Society are trying to do and also have entirely unrealistic expectations of how quickly 'investment' can be sourced. 7 Quote Link to comment Share on other sites More sharing options...
MP_MFC Posted August 12 Share Posted August 12 (edited) A few of the contributors on the night firmed up how I’ll vote both positively for them and negatively, that’s for sure. There was one moment that genuinely made me want to put my head through one of the display cabinets but as it was discussed in a ‘speaking in the room’ type of way I’ll not post it here but anyone there or listening will know exactly what I mean. Edited August 12 by MP_MFC 0 Quote Link to comment Share on other sites More sharing options...
camer0n_mcd Posted August 12 Share Posted August 12 People like the bold Colin Park who seem to believe that some multi-billionaire is going to take a look at us and chuck silly money at us for a laugh are detached from reality and shouldn't be taken seriously, these people should be confined to Well Fans III (and the other Facebook groups). But again it's someone who quite clearly doesn't believe in fan ownership running to be on the board of the Well Society.*sigh*. 3 Quote Link to comment Share on other sites More sharing options...
Vietnam91 Posted August 12 Share Posted August 12 I asked how much the pulled vote cost in terms of professional fees and civica ….. it’s north of 8k. Martin asked the question of the night about voting without mandate and not letting it happen again. Not answered adequately by the subject and due to me asking a question already plus standing for election I didn’t want to be that guy. Sean did give him a get out of jail free card about the nuance of fiduciary duties but a no vote to Barmack would have meant the club and society continued as it had for the past 6/7 years and therefore for me it was inconsequential. WS board by and large did well with their answers but even better not to roll their eyes at some answers and delivery. Didn't feel the need to grab the mic and convey my CV. Happy to report nobody asked the crowd “am I right?” Twice during the zoom muted period. 0 Quote Link to comment Share on other sites More sharing options...
MurrayWell Posted August 12 Share Posted August 12 Some of the people who voted and campaigned for a "non-transformational" investment, seem really set on dying on the "transformational investment" hill. 13 Quote Link to comment Share on other sites More sharing options...
EKWELLFAN91 Posted August 12 Share Posted August 12 Was impressed by the board tonight and how they answered the questions put to them. It’s really apparent that they are at the start of a promising time for the society and club and with a little patience, support and understanding on the relevance of time scales for developing their investment proposal deck then the society is in safe hands. 4 Quote Link to comment Share on other sites More sharing options...
YassinMoutaouakil Posted August 12 Share Posted August 12 Have we #AnnouncedTony yet? 0 Quote Link to comment Share on other sites More sharing options...
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