AnderooMFC Posted April 22 Share Posted April 22 4 hours ago, standupforthemotherwell said: I was just casually scrolling through tiktok (don't judge) and up popped an advert featuring Jacob Blyth flogging an ear wax removal tool. I'm not saying facebook is a good social media (maybe better by comparison at least) but mine showed me recently I have two friends in common with John Sutton and he does personal training and a community club teaching kids. 0 Quote Link to comment Share on other sites More sharing options...
CoF Posted April 23 Share Posted April 23 ‘Retired ex-players - where are they now’ could be a whole new mundane / sometimes interesting thread on here. 0 Quote Link to comment Share on other sites More sharing options...
Busta Nut Posted April 23 Share Posted April 23 Quote Investor meeting The Well Society board met with Erik Barmack last Sunday, during his visit to discuss potential investment in Motherwell Football Club with the Club Board and attend games at Fir Park. The meeting allowed him to share a high-level outline of his vision and offer and gave us the opportunity to impress our thoughts on him over issues such as governance, finances, the valuation of the Club and the proposed level of shareholding. We now await developments between the Club and Erik Barmack. Should discussions between those two parties lead to a formal proposal, we will formulate our position on whether we, as the elected representatives of The Well Society, believe an agreement would be beneficial to the Club. We understand that there is a lot of uncertainty around the current situation as discussions continue. However, we would like to assure Well Society members, again, that if and when we have further information to share, we will do so. And, again, we stress that no change will happen to the Society's shareholding in the football club without approval from members. For background, see the initial Club statement and a previous statement from The Well Society Board's response. Not seen the newsletter mentioned on here since Friday so while I've got 10 mins I thought I'd highlight it. Seems like a heavily edited way of saying "Raise massive concerns". I'm not surprised.I know not much can be said about valuations and amounts of shares involved but if what ye hear is anywhere near, get it in the sea 5 Quote Link to comment Share on other sites More sharing options...
Handsome_Devil Posted April 23 Share Posted April 23 9 minutes ago, Busta Nut said: Seems like a heavily edited way of saying "Raise massive concerns". I'm not surprised.I know not much can be said about valuations and amounts of shares involved but if what ye hear is anywhere near, get it in the sea I thought the same when I read it and then promptly forgot about it. Agree totally about reading between the lines on it and it's hardly a surprise given the previous tone of statements. Does EB take it on board and come back with a revised offer or does he - presumably with the encouragement of McMahon - try to drive it through anyway? As mentioned the other day, intrigues abound... 3 Quote Link to comment Share on other sites More sharing options...
Swello Posted April 23 Share Posted April 23 27 minutes ago, Handsome_Devil said: try to drive it through anyway Was thinking about this recently - how would the Exec Board go about driving anything through even if they were that daft? I presume they can't issue new shares without the say so of the majority owner. I could easily imagine a situation where they would want to disregard the wishes of the 'Well Society - but I'm not sure how they could practically do that. 0 Quote Link to comment Share on other sites More sharing options...
Busta Nut Posted April 23 Share Posted April 23 All falls back into the way the club is set up and the way the Chair/Former CEO held the WS in disdain. (IMO) 2 Quote Link to comment Share on other sites More sharing options...
Swello Posted April 23 Share Posted April 23 Just now, Busta Nut said: All falls back into the way the club is set up and the way the Chair/Former CEO held the WS in disdain. (IMO) Fully agree - but even though the governance is wrong (with non-WS directors being in the majority on the exec board) I think to do what they need to do to bring a new investor in (basically dilute the shareholding of the WS by issuing new shares) - they can't just wave that through on a one person, one vote basis at a normal board meeting - it would at least need an EGM. 0 Quote Link to comment Share on other sites More sharing options...
Handsome_Devil Posted April 23 Share Posted April 23 1 minute ago, Swello said: Was thinking about this recently - how would the Exec Board go about driving anything through even if they were that daft? I presume they can't issue new shares without the say so of the majority owner. I could easily imagine a situation where they would want to disregard the wishes of the 'Well Society - but I'm not sure how they could practically do that. They couldn't, no, but what they could do is recommend the bid be accepted knowing the Society board will have no choice* but to put it to a vote and lobby members to accept it regardless of what the Society board thinks. That's clearly a horrible scenario but at the same time it's far from implausible. For a club in such a strong financial position, we have got ourselves into some muddle over this. And yes, you can blame the Society for not doing more previously but, like it or not, right or wrong, there were reasons and logic for it. What the Executive board - in practice a couple of individuals - seem** to be doing now is much more worthy of a raised eyebrow imho. * In reality - I'm not checking the by-laws to see whether the Society board have the power to dismiss bids they deem derisory without a vote. ** from the outside etc, if you believe the rumoured bid yada yada 0 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted April 23 Share Posted April 23 40 minutes ago, Handsome_Devil said: ** from the outside etc, if you believe the rumoured bid yada yada What is the "rumoured" bid? I've legit forgotten what is/was being banded about. 0 Quote Link to comment Share on other sites More sharing options...
Handsome_Devil Posted April 23 Share Posted April 23 46 minutes ago, StAndrew7 said: What is the "rumoured" bid? I've legit forgotten what is/was being banded about. £1.5m over five years for a stake building to around 50%. 0 Quote Link to comment Share on other sites More sharing options...
StAndrew7 Posted April 23 Share Posted April 23 2 minutes ago, Handsome_Devil said: £1.5m over five years for a stake building to around 50%. Aye, that can get in the sea. 3 Quote Link to comment Share on other sites More sharing options...
MurrayWell Posted April 23 Share Posted April 23 36 minutes ago, Handsome_Devil said: £1.5m over five years for a stake building to around 50%. Staggered it's even got to the consideration stage if that's true. Without sounding like a broken record, this whole saga hasn't been handled particularly well, the whole "it's not about selling the club" to "hmmm, would you maybe sell the club?" moving of the goalposts from the departing heeds hasn't helped. I worry they've completely undervalued the club here. 2 Quote Link to comment Share on other sites More sharing options...
Antiochas III Posted April 23 Share Posted April 23 So, we sell Miller and can forget this sorry mess? 0 Quote Link to comment Share on other sites More sharing options...
Handsome_Devil Posted April 23 Share Posted April 23 (edited) 40 minutes ago, MurrayWell said: Staggered it's even got to the consideration stage if that's true. Without sounding like a broken record, this whole saga hasn't been handled particularly well, the whole "it's not about selling the club" to "hmmm, would you maybe sell the club?" moving of the goalposts from the departing heeds hasn't helped. I worry they've completely undervalued the club here. I should stress I'm not the source of the rumour, just reposting what it was. And yes, that valuation very curious. McMahon and Weir know more about business than me (and I'd respectfully venture most on here) and presumably have workings to show how that figure was a basis for negotiation. But having looked at our financials and the recent Hibs investment, I'm buggered if I can come close to reverse engineering the logic. Edited April 23 by Handsome_Devil 3 Quote Link to comment Share on other sites More sharing options...
YassinMoutaouakil Posted April 23 Share Posted April 23 This is a stupid/flippant point but what would the Well Society do with £1.5m and do I get a cut? 1 Quote Link to comment Share on other sites More sharing options...
ropy Posted April 23 Share Posted April 23 If the club needs £1M then we could raise it. We could be creative. I would pay £1000 up front for the right to buy my season ticket for £100 for the next five years. Mix those numbers up to suit the club and the individual. Sell more shares to the punters. Auction things off including the right to play in a match at Fir Park (been done before hasn’t it?). Maybe a number of events or initiatives over a period of time but it doesn’t seem an insurmountable total and certainly not worth selling the club for. Surely any meaningful transfer of ownership proposal would start the conversation at around £10M? 1 Quote Link to comment Share on other sites More sharing options...
0Neils40yarder Posted April 23 Share Posted April 23 3 hours ago, StAndrew7 said: What is the "rumoured" bid? I've legit forgotten what is/was being banded about. £1,000,000 per year for zero control 0 Quote Link to comment Share on other sites More sharing options...
Vietnam91 Posted April 23 Share Posted April 23 (edited) 36 minutes ago, YassinMoutaouakil said: This is a stupid/flippant point but what would the Well Society do with £1.5m and do I get a cut? You do, but there is also a smart arse tax so it turns out you actually owe them £300. Edited April 23 by Vietnam91 2 Quote Link to comment Share on other sites More sharing options...
Swello Posted April 23 Share Posted April 23 36 minutes ago, YassinMoutaouakil said: This is a stupid/flippant point but what would the Well Society do with £1.5m and do I get a cut? The Well Society aren't selling any shares - the new magic shares that will be created just make "ours" worth less - so we can all bask in that fact as we enjoy the extra 2 and a half players we've added to the squad. 1 Quote Link to comment Share on other sites More sharing options...
joewarkfanclub Posted April 23 Share Posted April 23 (edited) I read the Erik Barmack interview with the BBC again today and to be fair, he does talk a good game and say all the right things. However, if there is any truth in the rumour that the offer is £1.5m over 5 years for 50% of the club, then a lot of things just dont add up. Firstly anyone who values our club at £3m is at it. We have 1 player who is worth at least that on his own before we even start looking at other assets and the value of the business as a going concern. Also talk of "not disempowering the Well Society" doesnt square with wanting a majority share. The wording of the interview certainly implies that he wants to work with the WS and allow us to remain the owners of the club and is certainly suggestive of growing revenues through "streaming" our story to a wider audience globally. Whether thats genuine, or even possible or not remains to be seen. Bottom line is we need confirmation of the offer and a chance to examine the small print before we can decide whether this guy is right for us or not. I will remain "healthily sceptical" until he shows his hand. https://www.bbc.co.uk/sport/football/68790801 Edited April 23 by joewarkfanclub 3 Quote Link to comment Share on other sites More sharing options...
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