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Topic Originator: buffy
Date: Tue 1 Apr 16:39
“During last month’s video update that I provided with Steven Mill, I made the commitment to update more frequently. As part of this, I aim to provide regular written updates to you around major topics at the club.
There has been a lot to update on in the last month. It is a long time since our club received as much coverage as we have over the past ten days. Undoubtedly, we all felt the lift that it created, and the buzz around the city has been great.
Close to 1000 Pars fans made the journey down to Ayr at the weekend and helped to create a brilliant atmosphere for the team. Naturally we were all really disappointed that we couldn’t take something from the game to send you home happy.
However, there is no time to dwell on it, and we need to have another go at getting points on the board this Wednesday night at home to Livingston. With four home games in our last six, the Pars crowd can play a big part in helping us get the points we need to stay up.
Earlier in the month we made the decision to relieve Michael Tidser of his duties, following some disappointing performances. With Michael only being in the role for 60 days, we accept responsibility for this decision. It just didn’t work out the way we all hoped. However, Michael still has a bright future ahead of him, and I am sure he will go on to have a successful management career.
Quickly we identified Neil Lennon, and thanks to the efforts of our ownership, particularly James Bord, we were able to convince Neil Lennon to join the club. Neil is well known for his strong leadership skills and personality. We are already starting to see him make a positive impact on the sporting culture at the club.
The club was also delighted to welcome Victor Wanyama to the club last week. It’s arguably one of the highest-profile signings in the club’s history, bringing global attention to The Pars. Short term, we hope Victor’s quality and experience, even despite Saturday’s unfortunate dismissal, will help the club and his teammates in the run-in.
A few fans have raised concerns about the high levels of investment that Park Bench has made in the club after a busy transfer window and then with the additions of Neil Lennon and Victor Wanyama. I want to assure supporters that James and Evan are aware of the importance of financial stability for the club. They are committed to investing in the club (on and off the pitch) to ensure that we have a bright future ahead, but this will not be funded by external debt. That’s not their model.
We are all delighted that the development group has managed to reach the final of the SPFL Reserve Cup for the third season running. It’s a great testament to the development of the young players under John McLaughlin’s leadership who continue to impress at youth and reserve level. Furthermore, it is also a great reward for some experienced players like Craig Clay and Deniz Mehmet, who have helped to guide the young group through the rounds. More details about the final are due to be released shortly.
I’d like to express my sincere thanks to Billy Braisby, who recently stood down as vice chairman and board member. Billy has provided brilliant service to the club he has followed since childhood. I wish him all the best in retirement, and I know he will continue to support the club from the stands.
I’d also like to thank all that have invested and participated in the Pars United CIC organisation. PUCIC is in the process of being liquidated following the completion of the sale of the club to Park Bench. Pars United was a great example of supporters coming together to help the club at a time of need. That shall never be forgotten.
It’s a big week for the club with two home matches. Along with the rearranged Livingston fixture on Wednesday, we then host Hamilton Accies this Saturday. With our ‘Football for a Fiver’ offer, we have already seen a large uptake on this and expect a strong home support. As well as the very affordable ticket price, we have several promotions for our season card holders to show our thanks and appreciation for all your commitment, particularly through a challenging season on and off the pitch. We are proud of our passionate crowd and hope to see as many of you as possible for the run-in. Your support is crucial.
COYP
David Cook”
”Buffy’s Buns are the finest in Fife”, J. Spence 2019”
Post Edited (Tue 01 Apr 16:42)
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Topic Originator: Never10yairds
Date: Tue 1 Apr 16:50
The club not being put into any external debt is a big positive.
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Topic Originator: Hunter78
Date: Tue 1 Apr 16:57
Quote:
Never10yairds, Tue 1 Apr 16:50
The club not being put into any external debt is a big positive.
Just now
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Topic Originator: Berry
Date: Tue 1 Apr 17:06
Like this, something so simple that David should’ve been doing from the get go.
A clear update on where we’re at and addressing a key concern that has come about. Hope he keeps this up as is exactly what’s needed.
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Topic Originator: buffy
Date: Tue 1 Apr 17:15
The news stream on COWs is full of statements and updates from DC, and others. and has been for ages now.
Does no one read them?
”Buffy’s Buns are the finest in Fife”, J. Spence 2019”
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Topic Originator: Rigger Al
Date: Tue 1 Apr 17:30
Quote:
Berry, Tue 1 Apr 17:06
Like this, something so simple that David should’ve been doing from the get go.
A clear update on where we’re at and addressing a key concern that has come about. Hope he keeps this up as is exactly what’s needed.
Maybe he was told not too by the owners
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Topic Originator: Higgys Mohawk
Date: Tue 1 Apr 18:24
Glad they have addressed the topic of player investment and debt.
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Topic Originator: jake89
Date: Tue 1 Apr 21:27
Quote:
Rigger Al, Tue 1 Apr 17:30
Quote:
Berry, Tue 1 Apr 17:06
Like this, something so simple that David should’ve been doing from the get go.
A clear update on where we’re at and addressing a key concern that has come about. Hope he keeps this up as is exactly what’s needed.
Maybe he was told not too by the owners
Or the process for signing off took so long that providing updates became pointless.
The new owners seem pretty switched on and very active. Given their data background, I`m sure they`re tracking sentiment on social media platforms. They`ll know what`s working and what isn`t. They also know where you live...joking...I think...
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Topic Originator: Connor560
Date: Tue 1 Apr 23:27
Happy it`s something and sure it`ll improve in time but seems to be words for words almost.
Didn`t say anything I didn`t think in terms of Lennon/Wanyama in terms of budget etc
C'mon Ye Pars!
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Topic Originator: GG Riva
Date: Wed 2 Apr 06:11
"A few fans have raised concerns about the high levels of investment that Park Bench has made in the club after a busy transfer window and then with the additions of Neil Lennon and Victor Wanyama. I want to assure supporters that James and Evan are aware of the importance of financial stability for the club. They are committed to investing in the club (on and off the pitch) to ensure that we have a bright future ahead, but this will not be funded by external debt. That’s not their model."
That`s a very welcome and reassuring update.
I was one of the "few fans who raised concerns about the high levels of investments made by Park Bench..." but I think it`s safe to say that there were many more fans who shared these concerns but didn`t raise them with the owners.
Not your average Sunday League player.
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Topic Originator: Dave_1885
Date: Wed 2 Apr 08:23
Quote:
Connor560, Tue 1 Apr 23:27
Happy it`s something and sure it`ll improve in time but seems to be words for words almost.
Didn`t say anything I didn`t think in terms of Lennon/Wanyama in terms of budget etc
No point in talking about budgets when we cant sign anyone anyway. Lennon and Wanyama deals already been covered that they have been backed by Gamdom.
Hopefully means communication will improve again and we see more updates - maybe not monthly but more than twice a season. And hopefully they don’t back away from them when times are tough.
Post Edited (Wed 02 Apr 08:24)
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Topic Originator: kelty_par
Date: Wed 2 Apr 08:38
Financial stuff mentioned, taking responsibility for the Tidser appointment, good stuff about Braisby and the Pars United guys, thanking the fans... hard to see why some folk are upset at this tbh
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Topic Originator: McCaig`s Tower
Date: Wed 2 Apr 12:34
What does "no external debt" mean? Internal debt?
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Topic Originator: wee eck
Date: Wed 2 Apr 12:46
It could mean the new owners have increased share capital to pay off the Germans and finance the investment in players and the management team. If it is debt and isn`t `external` it means we aren`t exposed to the vagaries of outside lenders who might request repayment when the owners would prefer a bit of financial stability.
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Topic Originator: JTH123
Date: Wed 2 Apr 17:10
Quote:
McCaig`s Tower, Wed 2 Apr 12:34
What does "no external debt" mean? Internal debt?
I wondered exactly the same. Maybe just the way my mind works....
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Topic Originator: summeragent
Date: Wed 2 Apr 17:15
You have to feel confident that the New Owners are taking the club in the right direction, based on what has been said and the actions so far. Time will tell. If we stay in the championship expect us to be knocking on the door of the SPL next year! 👏🤞
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Topic Originator: kelty_par
Date: Wed 2 Apr 17:15
Means we don`t owe any money to anyone who might come calling on their debt.
Remember the reason we were pushed into Administration previously was due to a tax bill. And the reason we were able to agree the CVA and avoid liquidation (Hiya Rangers, hiya pal!).was that most of the debt was soft loans to existing directors.
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Topic Originator: istvan kozma
Date: Wed 2 Apr 17:44
What are the perks for season ticket holders?
KOZMA
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Topic Originator: McCaig`s Tower
Date: Wed 2 Apr 17:52
Thanks wee eck- I would agree with your analysis.
I don’t think I’ve seen anything about new share issuance (in contrast to the arrangements for DAFC Fussball).
Perhaps we can conclude that spending has been funded by debt, owed to the new owners. (At least this would rule out any leveraged arrangements like the Glazers used in their purchase of Man Utd).
It would be useful in terms of transparency if this could be confirmed.
Whilst I have seen nothing to doubt the stated motives of James Bord I would remain concerned about what happens when inevitably he wishes to move on. Will he want his money back?
People who have been lifelong fans might be more comfortable in writing off a small fortune (I imagine a number of directors over the years may be in this category).
There remain a number of unanswered questions about the take-over. are there any plans to replace Billy Braisby with a local face? PUCIC is being wound up. Is there no longer a need to supervise the board or to play an important role in the local community?
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Topic Originator: jake89
Date: Wed 2 Apr 19:39
Playing devil`s advocate here, but do we need a local face? Are there potential benefits to NOT having someone local? Someone external might identify issues that someone close to it won`t, or will have fresh ideas.
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