Update on Investment Offers and Related Issues

15 Jul

Members will no doubt be aware that the consortium headed by John Neill and Colin Rowley has announced on social media that it is stepping back from the investment offer process. This has generated a lot of speculation and a degree of discontent in various quarters.   In conjunction with other events outside the Trust Board’s control this has led to uncertainty that is potentially damaging to our Club.

The Trust Board intends to release a statement over the coming days outlining the current position and proposing a way forward, for both the short and longer term.  The only delay in getting the statement released is Board member availability.  Some of us are on holiday.

Our statement intends to inform members of:

  • the background to the proposals from the consortium headed by John Neill and Colin Rowley and the ‘Associates’ group headed by John Hunter
  • the technical and legal difficulties associated with external investment offers in light of our existing Trust constitution and rules
  • how we propose to address the short term issues including the proposals themselves and the Trust’s relationship with the Club Board
  • a medium-longer term blueprint for establishing governance that allows us all to operate within a set of rules that are respectful of differing opinions and clear to everyone

We hope to deliver that statement to you later this week

4 Replies to “Update on Investment Offers and Related Issues

  1. Thank you for this update, this sounds eminently sensible & a minimum requirement given the behaviour of certain Club Board members & the intervention of unknown parties known as the Associates, who appear to be acting against the best interests of the Club & with a high degree of self-interest – the Associates must be named & their proposals to take the Club forward made fully available to all Trust Members for consideration & approval/rejection
    Graham Fraser
    Trust Member

  2. What would be interesting is the financial situation of the club.
    Do we need any of the investment to progress forward?

  3. It will be interesting to see if John Hunter and his Associates now that the Consortium offer has been withdrawn put a formal offer on the table regarding their 200k.

    Given the fact that a letter dated 27 June the night of the Consortium meeting was sent outlining their offer, one could think being cynical that it was an attempt to derail the Consortium bid.

    If they do it will be interesting to find who is behind this offer to loan the Club the money and what strings are attached to any such offer.

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