This post is to give you a brief update on the latest status of #BuyTheBuds, SMISA’s joint bid with Gordon Scott for the majority shareholding of the club.
In our last update two weeks ago we said we would be taking the first set of your payments in the first week of July, and we hoped to complete the legal formalities needed to conclude the deal by the start of the season.
While we haven’t quite managed to get that over the line in time for Saturday’s game against Livingston, the good news is we expect to do so in the next week or so.
Obviously a deal of this complexity has required a fair bit of legal input and we are sure you appreciate the importance of all parties taking the time needed to get things right.
The first set of member payments are safely in the bank and will allow us to make the first of our monthly repayments to the consortium.
Should everything go to plan, by the time the league season kicks off with the Renfrewshire derby on 6 August, Gordon will have assembled a new board for the start of a new era for our club.
As it stands member numbers are sitting at around 1,300 but we would remind you there is no upper limit and we don’t want it to stop there – if you meet other fans at the games who haven’t yet signed up to have a say in how their club is run they can still do so at smisa.net now.
In the meantime, the SMISA committee has been busy behind the scenes working on a new set of processes and structures for how the trust will organise its affairs and involve our vastly-increased membership in trust decisions.
Should the deal be completed as planned, we hope to be able to put details of that work to you in the near future, once it is fully developed.
We are also looking forward to getting back to watching some football again, and hopefully we’ll see as many of you as possible at Livingston tomorrow.
Things are looking good for the club on and off the park right now and under the new regime we will have the power to keep that going.
‘Mon the Saints
The SMISA committee