Accies takeover bid

Match day discussion, transfers, and all things Accies

Accies takeover bid

Postby TerracingTomas » Sat Oct 23, 2021 12:07 am

Link to a story in the Sun that 2 different parties are attempting to buy Ronnie out.

https://www.thescottishsun.co.uk/sport/ ... mpionship/

I have detailed before that ownership of the club and the stadium are held by The company Edencrest which has 3 owners Ronnie/Les/Mcgoofey. Between them Ronnie and Les hold the majority of shares so to takeover completely you need both Ronnie/Les shares to out control Mcgoofey. It could be just the club for sale and not the stadium. Wouldn’t make sense for a serious investor. It could be pals of Mcgoofey in which case Accies are dead. It could be a lot of nonsense like the Chinese investor story. I think however it supports my thoughts that the financial losses from relegation, coved, the bank account scam and stadium tenancy losses have finally caught up with them and Ronnie who has the millions is not prepared to bail out the mess. No mug Ronnie. Interesting times. If it’s Mcgoofeys pals then I will think very seriously of walking away. I don’t think Ronnie would do that.

Ps Remember when Craig Whyte stood on the steps of Ibrox surrounded by adoring fans promising a return to Scottish and European glory? We all know how that turned out so as above Let Mcgoofey loose and you will have Third Lanark before u know it.
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Re: Accies takeover bid

Postby TerracingTomas » Sat Oct 23, 2021 9:16 am

A list of potential buyers ;)

Douglas Park: Fed up at Rangers he wants a fresh start at Hamilton. Still holds 10000 shares in the club.
Jock Brown: back again at the head of a consortium. He’s fed up commentating on Smell tv
The Chinese consortium: only this time it’s made up of Hamiltons’ takeaway owners. Just eat to deliver Hope cbd products along with your chow mien
The wee guy at the front door who gives away the freebie tickets: He’s actually been charging for them over the years so has made millions
It’s Halloween: so it could be the ghost of Jim Watson.
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Re: Accies takeover bid

Postby TerracingTomas » Sat Oct 23, 2021 12:12 pm

Had a quick look at Companies house again. For the avoidance of doubt the current shareholding allocation for Edencrest the ultimate holding company for the football club and stadium is as follows

200 shares in total. Mcgoofey has 90, Ronnies’ kids hold 90 and Les has 20 held by his company Clan Mgt Consultants.

Ronnie transferred his shares to his kids in 2018 presumably to avoid inheritance tax but remains a director of Edencrest.

So any takeover involves securing all or a majority of shares of Edencrest. Buy just Ronnies shares and you don’t have control. it’s not a takeover as such.

An alternative is that Edencrest sell the 90%+ shares they hold in the football club and keep the stadium. That would suit Mcgoofey down to the ground. Pesky football club and fans simply revert to being tenants of his stadium.
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Re: Accies takeover bid

Postby Working for Cunard » Sat Oct 23, 2021 5:24 pm

The idea that shares in Accies would be worth enough to make IHT planning worthwhile is touching in its naivety.
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Re: Accies takeover bid

Postby TerracingTomas » Sat Oct 23, 2021 6:14 pm

The shares that Ronnies kids hold are in Edencrest you donkey which includes the stadium. I agree the shares in the club are in themselves not worth a lot but it’s the real estate value of the stadium that’s valuable and Ronnies share is worth several million on that basis.
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Re: Accies takeover bid

Postby YeOldeHamiltonian » Sun Oct 24, 2021 12:45 am

Word on the street is Les Hutcheson(the boyhood Accies fan who bought Motherwell after being rebuffed by Ronnie and Les) is back on the scene.
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Re: Accies takeover bid

Postby TerracingTomas » Sun Oct 24, 2021 10:20 am

An excellent profile of Les Hutchinson below

https://archive.weareumi.co.uk/scotland ... sx7DwbSnsY

A self made millionaire who had a successful career in engineering and now like Andrew Carnegie is a’philanthropist’ with his own charitable foundation. When he took over Motherwell he made it clear that he wasn’t going to pour his millions into the club instead he stabilised what was a financial train wreck and made sure it was being run properly, helped set up the Well Society and then eventually handed the club over to them for a £1.

He is everything Mcgoofey aspires to be but will never be. If it is him and that remains to be seen then I would assume the same model might be in his mind. How you do that given the size of our fan base and it’s fractious nature I’m not sure. If he comes in sidelines McGoofy and appoints a full time football minded CEO that would a huge step forward. Surely all our Christmases can’t come at once.
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Re: Accies takeover bid

Postby TerracingTomas » Wed Oct 27, 2021 12:32 pm

The latest here. If I read it correctly only the club is for sale not the stadium and McGowan rules the roost. The beginning of the end imo. Your a rat Ronnie.

https://www.dailyrecord.co.uk/sport/loc ... 9ZePrRVYdA
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Re: Accies takeover bid

Postby aldoaccie » Wed Oct 27, 2021 1:29 pm

I fear the worst, I really do.
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Re: Accies takeover bid

Postby manxaccie » Wed Oct 27, 2021 1:52 pm

Doesn't look good, does it.

The last few years, despite the poor quality of the actual football at times, have seen us fighting way above our usual position in Scottish football. Despite the complaints that the club focus on the wrong things at times - and most of these complaints have genuine merit, the fact that we have 'punched above our weight' for a few years is surely testament to Ronnie/Les etc and the foundations they put in place.

As has been previously discussed on here many times, the split between the club/ground and who owns what is a concern, and I wonder if we are witnessing the end of (for Accies anyway) our golden era. For those us old enough to remember the bad old days, I just wonder how bad it might get in the near future. It can't be easy running a football club, and that's with money and/or a genuine love for a particular football club behind you. We might have neither on board very soon.

Hope I'm wrong!

Cheers
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Re: Accies takeover bid

Postby glasgow accie » Wed Oct 27, 2021 3:57 pm

If Ronnie is selling to McGowan ... then it goes to show that he doesn’t give two fucks about the fans ... selling the club to the one man the fans want out of Accies is just another GIRUY to the support ... it is the beginning of the end .... sad day .....
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Re: Accies takeover bid

Postby rubenthedog » Wed Oct 27, 2021 4:28 pm

YeOldeHamiltonian wrote:Word on the street is Les Hutcheson(the boyhood Accies fan who bought Motherwell after being rebuffed by Ronnie and Les) is back on the scene.


I've had the pleasure of working with Les over the last 7-8 years.

He was never a Hamilton fan, he is a diehard Rangers fan, who helped out Motherwell on a philanthropic basis as he started his long and successful career in Motherwell. His daughter Leanne is still on the board of Motherwell I believe. (interestly as a youngster he played in goal for Albion Rovers)

He is a gent of a man, and I would be ecstatic if he were to take the Accies over, however I dont see it happening.
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Re: Accies takeover bid

Postby TerracingTomas » Wed Oct 27, 2021 5:08 pm

I quote the original Sun story that broke the news. Talking about 2 potential bidders the Sun said "SunSport understands that one is well-known on the landscape of Scottish football." Given the leak probably came from McGoofey himself then it looks as though the well known individual is McGoofey!!! .As far as I can tell from the latest article Ronnie hasn't sold anything to McGowan Ronnie remains apart owner of the stadium but is letting McGowan sell off the football club off. Leaving McGowan exercising control over the stadium while Ronnie sun's himself in Marbella no doubt. Both Ronnie and Mcgoofety have well and truly fxxxxx the fans over.
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Re: Accies takeover bid

Postby smc4761 » Wed Oct 27, 2021 6:48 pm

Well that is just the news that we wanted. NOT.

I think about the majority of Accies fans could not see a worse situation that McCgowan being in charge of the club. If you thought that our relegation from PL was a blip and we would soon bounce back, this situation will set us back years

Could it be as bad as Watson era ?
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Re: Accies takeover bid

Postby porcupine » Thu Oct 28, 2021 1:50 pm

Like just a few of us, suffered the effects of that, trekking over to Firhell and Cliftonhill to support the team, in the hope that there would be a light at the end of a dark tunnel.
Twenty year on, and twenty years older, the Haloween nightmare rears it head again??

Surely not?
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Re: Accies takeover bid

Postby TerracingTomas » Thu Oct 28, 2021 5:33 pm

Straight out of Watsons 2003 playbook imo Porcupine. The club and stadium were with saddled with debt and in danger of going under. Along come Ronnie and Les and buy the football club along with debt leaving Watson and by then McGoofy to play with the stadium debt free. Fast forward to 2021 and both the stadium and club are struggling again so with Ronnies’ blessing apparently he will try to offload the club and debt to some mug while he continues to play stadium entrepreneur. Not happy with results, ticket prices, recruitment nothing to do with me. Not happy with the club shop, web site,Accies tv. Nothing to do with me. HAFC are just another tenant.
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Re: Accies takeover bid

Postby smc4761 » Thu Oct 28, 2021 7:19 pm

This article was posted on the Pie and Bovril site by a Raith fan. Ring any bells

https://www.scotsman.com/sport/starks-p ... or-2475589
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Re: Accies takeover bid

Postby Stevie Clarke » Fri Oct 29, 2021 8:38 am

It's looking more important than ever that Accies fans get organised, form a Supporters Trust and try to fundraise, getting as many Accies fans with a bit of spare cash on-board as possible. There must be some businessmen amongst our support? Other clubs again put us to shame on this - Greenock Morton recently became fan owned. We did have a trust but as usual it wasn't supported, the factions in our support saw to that. Events were organised, I remember the ref Brian Winter (Andy's Dad) gave up his evening for a Q&A and about twenty people turned up.

Just checked, the Morton fan group had 562 members. Can you imagine us getting even half that?
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Re: Accies takeover bid

Postby TerracingTomas » Fri Oct 29, 2021 11:25 am

And I quote Ronnie:

MacDonald told the Scottish Sun : “Colin has been my colleague for a long time and the decision as to what happens next at the club will be his.

“You want to be in a position where you trust the people involved — and in Colin I certainly do.”

Well there you have it. Straight from the horses mouth. I can only assume Mcgoofey has something comprising on Ronnie :oops:
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Re: Accies takeover bid

Postby TerracingTomas » Mon Nov 01, 2021 10:24 pm

Well a man of his word Ronnie for what it’s worth. With effect from the 28th of October as per the records at Companies House, he has terminated his appointment as a director of Edencrest the ultimate holding company of the football club and stadium. His family members however remain the holders of what was originally his shareholding so McGoofey hasn’t got his hands on that (Yet).
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