Council to buy Saints?
By Stuart Gillespie
Updated Monday, 25th June 2012
The race to buy Saints took a bizarre twist today when it emerged that Renfrewshire Council may be looking to purchase a controlling interest in the club.
It has looked for a long time that the 10000Hours Community Interest Company, spearheaded by current director Richard Atkinson, would acquire the 52 per cent stake in the club that has been on the market for nearly three years. However, on Thursday councillors will discuss the possibility of buying Saints.
The idea has been put forward by Saints supporting SNP councillor Brian Lawson, who is calling for a feasibility study to be conducted into the pros and cons of the local authority stumping up the £1.5million asking price. He claims that, as the council intends spending around £50million this year on sporting facilities, buying Saints makes sense as the five-a-side pitches at Greenhill Road and the training complex at Ralston could be used to generate income. The full story can be read at http://www.eveningtimes.co.uk/news/council-could-buddie-up-to-help-buy-saints-shares.17952809
The chances of this going anywhere are pretty slim. The SNP - who rumours suggest kyboshed one of the CIC's funding bids - are not in control of Renfrewshire Council anymore. Instead, it is Labour and local government often sees parties vote against things just because it's not their idea. In the slow moving world of councils a feasibility study could take months, even years. Our board have said they want to sell up by the start of the new season.
But the big stumbling block is the fact someone wants £1.5million of public money used to buy a football club. That's not going to fly at the best of times, let alone these days when councils are making cutbacks.
There's plenty of other problems - would you really trust a local authority with a football club - but we'll leave it there until we see what happens on Thursday.
Meanwhile, 10000Hours have today begun polling their members on what way the club should vote on a newco Rangers being admitted to the SPL. It looks like being a waste of time though as six other clubs have publicly said they'll be voting no, which is more than enough to keep them out.
Story source: The Evening Times
Follow Mirren Mad on Facebook at http://www.facebook.com/mirrenmad
Follow Mirren Mad on Twitter @mirren_mad or http://www.twitter.com/mirren_mad