The Partick Thistle thread

[Jacky1990]

8 hours ago, Bishop Briggs said:

Due diligence is not a SPFL requirement but TJF (especially its directors) will have to pass the "fit and proper" ownership test...

Surely one of the questions on whether a person/organisation is a fit and proper owner is if they have done their proper due diligence.

[Bishop Briggs]

9 hours ago, Jacky1990 said:

Surely one of the questions on whether a person/organisation is a fit and proper owner is if they have done their proper due diligence.

I don't think that It's part of the usual fit and proper test but it's an issue that needs to be considered.

It appeard that the owners (TJF's members) may not have approved the deal (resolution at the AGM) before the transfer of the shares. Similarly, they will not have the chance to approve or elect the TJF Board or the TJF representative (s) on the club before the transfer. That is the issue that should concern the SFA when undertaking the fit and proper test.

This is not just a simple gift of shares. TJF is taking over the club, i.e. becoming the majority shareholder with all the legal obligations of ownership. Its members need to know exactly what they are taking over (assets, liabilities and legal obligations etc) before approving the transfer of the shares. They, TJF's Board and the represenatives on the PTFC Board will need the latest financial statements (2022 accounts) and projections. If they do not have that information, how can they be fit and proper to own and control the club?

TJF Board and individual members should raise these issues with the SFA as soon as possible.

Edited March 28, 2022 by Bishop Briggs

[OnlyteaminGlasgow]

Great movement and a peach of a goal to open the scoring from our developement squad striker Cameron Cooper for Scotland U17's yesterday! I liked his cheeky shut up gesture to the cameraman as well  Get him in the first team!
 

 

[oneteaminglasgow]

Interesting comment from McCall about either taking in Falkirk v Cove or Queens Park v East Fife tomorrow.

Harry Milne the obvious one he’d be going to watch given previous rumour, but any other potential targets? 

[Highlandmagar]

23 minutes ago, oneteaminglasgow said:

Interesting comment from McCall about either taking in Falkirk v Cove or Queens Park v East Fife tomorrow.

Harry Milne the obvious one he’d be going to watch given previous rumour, but any other potential targets? 

Apparently Hibs are after Milne. Not much competition then.

[JustDom]

13 hours ago, oneteaminglasgow said:

Interesting comment from McCall about either taking in Falkirk v Cove or Queens Park v East Fife tomorrow.

Harry Milne the obvious one he’d be going to watch given previous rumour, but any other potential targets? 

Morrison at Falkirk

[jagfox]

TJF no more.

 

 

[Nightmare]

PR Jacqui strikes again, releasing this on the Saturday afternoon after a Friday right win. Knows exactly what she’s doing, but hopefully nobody is fooled.

We really need to get this parasite out of our club.

[Pie Of The Month]

From that statement

"Directors of 3BC" = Jacqui Low

"Directs of Partick Thistle" = Jacqui Low and a group of her pals she appointed

How thick does she think our support are?

[Hammer Jag]

f**k off Low.

[Reid]

Not a surprise. Low is a snake.

[Bishop Briggs]

TJF needs to take legal advice on these statements.

 

https://ptfc.co.uk/ptfc-news/club-update-9th-april-2022/

Announcement from Three Black Cats

“After careful consideration, the Directors of Three Black Cats (3BC) have decided that The Jags Foundation (TJF) will not be given the majority shareholding in Partick Thistle gifted by the late Colin Weir.

“Whilst many good people have given their time and efforts, TJF appears to have gotten sidetracked from making the case to 3BC as to their suitability for accepting the shares. Nothing we have seen to date persuades us they have made progress towards passing the “fit and proper” test to receive the shares. Nor have they have shared their vision for their involvement in the future of the club

“We believe that to hand over the shares to TJF could be to the detriment of the club, its stability and potentially jeopardise its future. That was not Colin’s intention in making this gift.

“So, after more than two years, it’s time to get on and deliver on his aspirations. We have started the process of returning the land to the club and have set up a meeting with the club Board to share our thoughts around options for the shareholding.

“In line with the club’s request for the focus to be on the football for what remains of the season, 3BC will use that time to assess how the transfer of shares can be made sooner rather than later, with a view to reporting back once the season ends.”

---

Response from PTFC Board and CEO to the 3BC announcement welcomes process starting to return land to Club after 13 years

“The Club notes today’s announcement by Three Black Cats (3BC) regarding The Jags Foundation (TJF). It is disappointing and regrettable that TJF will not be the vehicle used for the transfer of the majority shareholding to Thistle supporters. But our recent experience of working with TJF has raised concerns amongst Directors that, despite our best efforts to move things on, we were not making any substantive progress.

“Much has been made of due diligence, which has no legal requirement for a gift. What TJF wanted was for the Club to complete a form giving a snapshot of the Club’s position on a single day. Instead, we offered to put a director on our Board to give a full, unhindered view of the current financials and operations on an ongoing basis. Nothing was hidden, access was unfettered and yet TJF continued to allow due diligence to be a constant distraction.

“Trust went completely after TJF failed to share important information with fans as we asked them to after we chose to make it available to them for that sole purpose. We, not TJF, called the meeting on 17th March where we answered all the questions put to us, from due diligence to finances to the state of the pitch to stadium maintenance. They created an impression that we had only agreed to answer questions for a Q & A when, in reality, we had already answered the questions fans had asked.

“We are very pleased that 3BC has reaffirmed its commitment to the transfer of the majority shareholding to fans as soon as practicable. We will do whatever we can to ensure that there are no further delays to the handover. After more than two years, we are as frustrated and as keen as the fans to see this matter resolved.

“The Club also welcomes the news that agents have been instructed to begin the transfer of land to us, also as originally planned. This will be the first time that Thistle has owned the whole stadium in 13 years.

“While these matters progress, we urge all Thistle supporters to join the Club in fully focussing on our the remaining, hugely important men’s first team matches in April.”

Edited April 9, 2022 by Bishop Briggs

[kerly]

Thought we f@&ked the Tory’s last night but one of them got back at us today 

[VictorOnopko]

Classic Low.

• Ensure overall passive aggressive tone;
• Throw some vague accusations around;
• Offer no explanation of your own plans for the club (while criticising others for their alleged lack of plans);
• Question another party's "fit and proper" status when you have never established your own;
• Highlight a lack of trust when you're the one causing it;
• Leave the fanbase of the club baffled as to why you're in charge;
• Have the brass neck to write a two part statement as though it's by different parties when both parts are in fact by J. Low.
• Hope that no one notices you're not handing the club over to the fans, despite the fact that you were put in charge to, er, hand the club over to the fans.

This, in particular, seems like a deeply dodgy smokescreen:

"“Much has been made of due diligence, which has no legal requirement for a gift. What TJF wanted was for the Club to complete a form giving a snapshot of the Club’s position on a single day. Instead, we offered to put a director on our Board to give a full, unhindered view of the current financials and operations on an ongoing basis. Nothing was hidden, access was unfettered and yet TJF continued to allow due diligence to be a constant distraction."

But the club is a business, Jacqui, not a present.  TJF have already said they were not offered an "unhindered view" of all the financials.  Someone is lying here and I don't think it's them.

TL:DR version:  F**k off Low.

 

[Bishop Briggs]

3BC

“Whilst many good people have given their time and efforts, TJF appears to have gotten sidetracked from making the case to 3BC as to their suitability for accepting the shares. Nothing we have seen to date persuades us they have made progress towards passing the “fit and proper” test to receive the shares. Nor have they have shared their vision for their involvement in the future of the club."

A few questions and thoughts on those claims.

Why did TJF, created by the club (owned by 3BC/Low), have prove its "suitability" to 3BC/Low to receive the "gift"?

Has 3BC/Low informed TJF of the "suitability" requirements? 

Surely, TJF has to convince the SFA (not 3BC). that it will pass the "fit and proper" test?

I can't recall 3BC/Low sharing her vision for the future of the club. So far, it has been limited to sacking Archibald and appointing Caldwell.

Edited April 9, 2022 by Bishop Briggs

[Fuctifano]

https://thejagsfoundation.co.uk/response-from-tjf-to-3bc-statement/

TJF response. Not sure where they can go from here (or what they do with the money they've taken in?) 

Low responding to herself and not putting her name to either statement is tragic and hilarious at the same time. Probably been sitting on that statement for weeks waiting for us to win a game. 

[Bishop Briggs]

TJF response - https://thejagsfoundation.co.uk/response-from-tjf-to-3bc-statement/

"We had doubts about the commitment of 3BC to true independent fan ownership when they refused to let us carry out independent due diligence. These concerns have been exacerbated in recent months when we started exploring well known structures of fan ownership already in place at Hearts and Motherwell. These were presented as initial draft to Working Together but were rejected outright.

However, this is a separate democratic members organisation and there are still decisions to be made. The directors of TJF will come back to you with the options that we have on next steps for TJF."

Edited April 9, 2022 by Bishop Briggs

[embow]

Sorry to intrude into your internal politics but congratulations and good luck with the playoffs. Whilst not yet totally confirmed with three games to go it won't be my lot depriving you of fourth place even if by some miracle we were to beat you next week.

[Bishop Briggs]

1 minute ago, embow said:

Sorry to intrude into your internal politics but congratulations and good luck with the playoffs. Whilst not yet totally confirmed with three games to go it won't be my lot depriving you of fourth place even if by some miracle we were to beat you next week.

Thanks but we've been lucky that today's results went our way.

We Jags fans know that anything can happen and it's not over yet...

[OnlyteaminGlasgow]

Good thing to come from today is that those who (very few of them) that backed Jacqui they have now turned on her and can see her for who she is. I didn't think TJF was good for the club, had fears of another Jags Trust debacle and a bowling club mentality but as much as they were not good for the club oor Jacqui is just as bad. Hopefully she gets hounded out the door along with her cronies asap.