Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 Stating their desire to purchase the club whilst not wanting to compromise MJ's ongoing talks over debt reduction? Shocking. But that's not the main crux of what they're saying. They're saying that MJ should do all the hard work to get the debt reduced, but then out of the kindness of his heart hand it over to the fans? He's the chairman of a business, and if he manages to make that business debt free (or close to it) then he's completely within his rights to sell that business for what its worth - which will be in the millions. Of course the future of Kilmarnock F.C. would be better under community ownership, but my main point is that if he succeeds with the bank, then MJ is under no obligation to simply donate his shares. ETA - I realise they are saying that they'd pay a "fair price", but I can't see them being able to afford the millions we would be worth on the open market. Link to comment Share on other sites More sharing options...
AberdeenBud Posted February 11, 2014 Share Posted February 11, 2014 As mentioned on the Dundee Utd thread, is there a danger of KFC transgressing SPFL insolvency rules by settling their debt in a % agreement? Link to comment Share on other sites More sharing options...
Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 As mentioned on the Dundee Utd thread, is there a danger of KFC transgressing SPFL insolvency rules by settling their debt in a % agreement? Our chairman is a very succesful lawyer, I doubt very highly he'd run that risk. Link to comment Share on other sites More sharing options...
craigkillie Posted February 11, 2014 Share Posted February 11, 2014 But that's not the main crux of what they're saying. They're saying that MJ should do all the hard work to get the debt reduced, but then out of the kindness of his heart hand it over to the fans? He's the chairman of a business, and if he manages to make that business debt free (or close to it) then he's completely within his rights to sell that business for what its worth - which will be in the millions. Of course the future of Kilmarnock F.C. would be better under community ownership, but my main point is that if he succeeds with the bank, then MJ is under no obligation to simply donate his shares. ETA - I realise they are saying that they'd pay a "fair price", but I can't see them being able to afford the millions we would be worth on the open market. Next time you decide to criticise a statement it might be a good idea to actually read it first, eh? They've announced that they'll make an offer, an offer which MJ can either choose to accept or reject. I don't think anyone is expecting him to give the club away for free. Even a debt free Kilmarnock would not be worth "millions" on the open market. It would remain a small town football club with limited income streams. Link to comment Share on other sites More sharing options...
Chew Posted February 11, 2014 Share Posted February 11, 2014 Our chairman is a very succesful lawyer, I doubt very highly he'd run that risk. Fixed that bit for you. Link to comment Share on other sites More sharing options...
Solongaswekickthemout Posted February 11, 2014 Author Share Posted February 11, 2014 QLP It's a good start,I hear what you're saying regarding MJ doing all the donkey work for no rewards/thanks, but it think he needs to move for his own sake and also for the betterment of our club. As for money, if he pulls off what is being proposed then i think he would be entitled to a fair price for his shares = millions ? I also think there's plenty of money in that party to make this a possibility. fingers crossed we all can come out of this looking descent reasonable people. Link to comment Share on other sites More sharing options...
Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 QLP It's a good start,I hear what you're saying regarding MJ doing all the donkey work for no rewards/thanks, but it think he needs to move for his own sake and also for the betterment of our club. As for money, if he pulls off what is being proposed then i think he would be entitled to a fair price for his shares = millions ? I also think there's plenty of money in that party to make this a possibility. fingers crossed we all can come out of this looking descent reasonable people. Hopefully. As I've said to Baz, I'm really interested to see how this pans out. Link to comment Share on other sites More sharing options...
kennysmassiveego Posted February 11, 2014 Share Posted February 11, 2014 I,d love to witness a change of ownership of Kilmarnock but I doubt the latest incarnation will achieve it. Their statement is all well and good but at no point does it state for a fact that they have the necessary funds to attain what they are after. Getting 100k for the Killie youths etc etc is a very long way from the 7 figure number that it will probably take to entice MJ into selling. As a point of interest the 8 SPFL clubs mentioned that are community run.... how are they doing? Any in the Premiership ? MJ is nobodies fool and if he does achieve a debt free club he can ask whatever he likes for his shares should he desire to sell. He has shown in the past that name calling doesnt really bother him and with the kudos of pulling off this deal he can dictate the terms and if he wants to be petty minded about it then the chances of his one time nemesis's getting their mitts on his shares are slim.Or he can charge a extra levy if they are involved . My desire to see regime change is a strong as ever, but not at any cost and to the wrong party/parties Link to comment Share on other sites More sharing options...
Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 I,d love to witness a change of ownership of Kilmarnock but I doubt the latest incarnation will achieve it. Their statement is all well and good but at no point does it state for a fact that they have the necessary funds to attain what they are after. Getting 100k for the Killie youths etc etc is a very long way from the 7 figure number that it will probably take to entice MJ into selling. As a point of interest the 8 SPFL clubs mentioned that are community run.... how are they doing? Any in the Premiership ? MJ is nobodies fool and if he does achieve a debt free club he can ask whatever he likes for his shares should he desire to sell. He has shown in the past that name calling doesnt really bother him and with the kudos of pulling off this deal he can dictate the terms and if he wants to be petty minded about it then the chances of his one time nemesis's getting their mitts on his shares are slim.Or he can charge a extra levy if they are involved . My desire to see regime change is a strong as ever, but not at any cost and to the wrong party/parties Absolutely spot on. I await your sarcastic response from craigkillie with baited breath. Link to comment Share on other sites More sharing options...
Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 That was a joke before I get the usual retorts I've told you all - this is a new and reformed QLP Link to comment Share on other sites More sharing options...
Nutz_the_Squirrel Posted February 11, 2014 Share Posted February 11, 2014 I think that there is going to be a drive to encourage fans to invest in the club/takeover bid via the soon-to-be-launched Buy Killie website. Link to comment Share on other sites More sharing options...
Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 I think that there is going to be a drive to encourage fans to invest in the club/takeover bid via the soon-to-be-launched Buy Killie website. I'd be very surprised if that makes up the shortfall between MJ's valuation and what the consortium already have in funds. Many fans won't feel comfortable investing in something that has no guarantee of happening. Link to comment Share on other sites More sharing options...
Nutz_the_Squirrel Posted February 11, 2014 Share Posted February 11, 2014 I'd be very surprised if that makes up the shortfall between MJ's valuation and what the consortium already have in funds. Many fans won't feel comfortable investing in something that has no guarantee of happening. I fear that the 'shortfall' will be very short. Would you invest? I don't whether I would. I would certainly 'pledge' but pledges are hardly cash-in-the-bank. I think it's difficult to remember that there are more people who are only concerned about paying their £330 and watching football every fortnight than those who know or even care about the day-to-day running of the club. That's a lot of hyph-ens by the way. Link to comment Share on other sites More sharing options...
Quitongo's Left Peg Posted February 11, 2014 Share Posted February 11, 2014 I fear that the 'shortfall' will be very short. Would you invest? I don't whether I would. I would certainly 'pledge' but pledges are hardly cash-in-the-bank. I think it's difficult to remember that there are more people who are only concerned about paying their £330 and watching football every fortnight than those who know or even care about the day-to-day running of the club. That's a lot of hyph-ens by the way. I fear that our club is too small to have enough willing investors. Link to comment Share on other sites More sharing options...
craigkillie Posted February 11, 2014 Share Posted February 11, 2014 Absolutely spot on. I await your sarcastic response from craigkillie with baited breath. When people post well thought out posts like the one above then I generally don't respond to them unless there is something interesting to add. When people post snide one-liners that isn't necessarily the case. Link to comment Share on other sites More sharing options...
Coooombe Posted February 11, 2014 Share Posted February 11, 2014 My desire to see regime change is a strong as ever, but not at any cost and to the wrong party/parties This has been the point that so many people have missed IMO, not so much recently but during the "MJ out at all costs" backlash after Kenny was sacked. It seemed that people had the opinion that whoever we brought in couldn't do any worse, which obviously just isn't the case. Link to comment Share on other sites More sharing options...
KillieBaz Posted February 11, 2014 Share Posted February 11, 2014 A lot depends on the status of the debt at the time of course, what the club is actualy valued at and what Michael wants out of it. There is no reason we can't get enough money together to buy the club. Have some faith, the illustration of the FFTF totals was only that, an example of what was achieved funded only by the good will of our declining support. If Dunfermline and Hearts (and soon to be Rangers) can do it then so can we...it will take a combination of factors and may take a bit of time (again, depending on the price and conditions) but we've already had four people who run multi-million pound businesses interested and between the likes of them, fun raising events, corporate donations and pledges, there is no reason why we can't make this happen...or get it front funded if it needs to happen quicker. One thing is for sure, if we sit on our back sides and wait for a white knight to come in then we will never get anywhere. A debt free club, if that can be achieved, is no guarantee of success for anyone. It would be very welcome of course, but if you take the hotel out of the equation, and the £20k a month interest payments, then we would still have made a loss in the last five years. If nothing changes at the top then how are we suddenly going to start bringing back enough fans to ensure we don't fall back into debt straight away again...and with no overdraft facility after debt write off? It's not just as easy as doing a deal with a bank who is actively trying to shed toxic debt from the books that technically it has written off already. We need a new vision and new ideas and fresh impetus that can only come with a new board of directors. Take a look at the interview Gary Torbett did with STV (http://sport.stv.tv/football/clubs/kilmarnock/263710-new-supporters-group-preparing-bid-to-buy-kilmarnock-football-club/) he's just one of the guys behind the working party and he makes decisions on multi-million pound business investments on a daily basis...getting the right people on board is crucial. If Michael Johnston was of a mind to put more into the club than he took out then he would be welcome to stay involved. That's the kind of commitment we need from everyone from the top down, not just the fans who are expected to blindly follow. All this talk of MJ being entitled to millions of pounds...its the club who should benefit if there is debt write off, not any individual, that's been one of the sticking points with the bank, and the working party. No one is expecting him to walk away for his £1, but by the same token the price he puts on his majority shareholding should be within reason...no one in their right mind would pay £1 per share in the current financial climate, but that's not to say a much more substantial sum wouldn't be considered. Link to comment Share on other sites More sharing options...
PrestersKTID Posted February 12, 2014 Share Posted February 12, 2014 If MJ makes us debt free then hats off to the man. I wouldn't say the COG statement is cheeky, more realistic. I mean it would be hard to get fans to pledge their hard earned cash to pay a man for a club 9million quid in debt. Especially as it would take a hell of a lot of further investment before the club is on an even footing again. But if they're paying for a debt free club then it would be a better deal, MJ would be getting a payoff for doing an overall good job for the club. Also 900k of the payoff would go to Jamie Moffat I presume who is still owed half his loan. Link to comment Share on other sites More sharing options...
Solongaswekickthemout Posted February 13, 2014 Author Share Posted February 13, 2014 Interesting news ? MJ to step down but not sell his shares ? Link to comment Share on other sites More sharing options...
kennysmassiveego Posted February 13, 2014 Share Posted February 13, 2014 I,m more concerned about losing Boyd tbf Link to comment Share on other sites More sharing options...
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