McGeoch not quitting after all!
By Stuart Gillespie
Updated Thursday, 29th March 2012
There has been yet another twist in the boardroom saga engulfing Saints after it emerged director Ken McGeoch will only quit the board if someone buys his shares.
The controversy surrounding McGeoch's use of Rangers' company secretary Gary Withey in his bid to a controlling share in the club has sparked controversy recently. The board members trying to sell a controlling stake told him earlier this week to resign or be voted out at an EGM. It seemed on Tuesday he had opted for the former.
However, according to The Herald today, this is not the case. A source said: "Ken isn't intending resigning his directorship. But he's willing to consider offers for his shareholding."
I am always suspicious of unnamed sources. Sometimes they are completely made up to provide the perfect comment, but as The Herald is a respectable newspaper we can assume this is someone who knows what he's talking about - or even McGeoch himself.
McGeoch is unlikely to get his shares because they don't offer any influence at the club. The selling consortium have put 52 per cent up for sale - you could own the other 48 per cent and still be outvoted.
I'd imagine McGeoch is well aware of this and by putting them up for sale he is giving the impression of being willing to walk while actually getting an EGM - where things could get very interesting.
Story source: The Herald
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