We would like to congratulate our members SMiSA on the joint purchase of St Mirren FC this evening. The legal formalities around their joint offer with Gordon Scott were concluded earlier today meaning the trust is now the proud part-owner of the club.
Gordon now owns a 50.1% stake in the club, while SMISA own 29%, with the option to buy Gordon’s shares within the next ten years, and achieve majority fan ownership of the club. The deal means the Supporters Trust will now work towards community ownership over a ten year process, which Supporters Direct define as:
With the deal, Gordon Scott will put a new board in place which will include himself as Chairman, joined by current club Chief Executive Tony Fitpzpatrick, financial advisor Alan Wardrop, current club secretary Chris Stewart and SMISA board member David Nicol as a temporary fan representative (elections will take place later in year for a SMISA representative).
We worked with SMiSA throughout the deal and they utilised our Club Development Scotland consultancy arm within the process.
David Nicol, SMISA board member and newly-appointed fan representative on the board of St Mirren FC, said the following about our services:
“The deal to for ourselves and Gordon Scott to buy St Mirren was a year in the making, and the team at Supporters Direct were with us from the start.
“Andrew Jenkin and the rest of the team were on hand with advice and support and we want to thank them for all they did.
“Part of that work included a report into St Mirren’s financial position and the insight and advice we received from their football finance expert Nick Igoe was utterly invaluable at a crucial point in the negotiations.
“Our bid came about because we believed there could be no better owners for our club than the local community – we would encourage any other fan groups who think the same to find out how the SD team could help them too.”
We acknowledge SMiSA’s journey is just beginning and we stand ready to help them along the way. Having worked with the Trust, we know they have extremely capable and professional people involved and can make a real success of the deal they have with Gordon Scott as they work towards majority ownership. We congratulate them on all their efforts which have made this deal a reality and wish them all the best.
With this deal, SMiSA will join several other UK football clubs owned by their democratic, cooperative an and mutually owned Supporters Trusts.