CASH WILL HELP N IN FANS’ HANDS How things stand

and expertise to help St Mirren grow as a business, but, more than that, it can help grow the club’s reach into the community of Paisley.

“Over the next few weeks, we’ll be talking to our members about what this means – and, hopefully, they will be as excited as we are by the possibilities.”

Gordon added: “This is the right time, the right corporate partner and the right model.

“The club is in a very strong place right now financially, in terms of stadium and academy infrastructure, and the people we have employed at all levels of the football club.

“It was also very important to me I was comfortable the SMiSA board was capable of dealing with the responsibilities that will come with fan ownership. “I think the existing board has demonstrated that it is up to that challenge.

“Both myself and the board are looking forward to embracing the expertise and support Kibble will bring and helping ensure a smooth transition into the majority fanowned era.”

St Mirren chief executive and club legend Tony Fitzpatrick added: “We’re all really excited about this.

“It’s something that will take the club into the next level, without a doubt.

“Kibble has got the same vision and values as St Mirren.

“I’ve worked for ten years with the violence reduction unit, so I know how hard it is for young people to get a chance in life. What changes lives is jobs.

“There are a lot of jobs in football clubs – it’s not just about the

11 players on the pitch.”

Here is a breakdown of the current financial situation at St Mirren.

Currently, chairman Gordon Scott owns 50.1 per cent of the shares in St Mirren and SMiSA owns 28.3 per cent. The remaining are shared between several hundred individuals.

The current legal agreement gives SMiSA until 2026 to buy Gordon’s shares and deliver majority fan ownership, and it is currently saving towards that.

SMiSA is required to buy the 42 per cent stake Gordon bought in 2016, but not the eight per cent he held before then. This means SMiSA would eventually own 71 per cent of the club.

The purchase price is fixed at £7.66 per share, which is what Gordon paid in 2016, meaning

SMiSA needs to raise £615,000 to buy that 42 per cent.

How would the new proposals work?

 Under the proposed deal, SMiSA and Kibble would buy almost all of Gordon’s shares. SMiSA would buy 22.7 per cent on top of what they already own, giving them a 51 per cent stake. Kibble would buy the other 27.5 per cent.

This would happen in two stages. If members approve the proposed deal, Kibble will buy its 27.5 per cent from Gordon straight away, creating an interim phase where no single individual or group would have majority ownership of the club. At this time, SMiSA would still own 28.3 per cent and Gordon would retain 22.7 per cent.

During this time, the club would be run on similar lines to now, with Gordon continuing as chairman.

With Kibble owning half of Gordon’s shares, SMiSA would only need £331,000 to buy his remaining shares and get to 51 per cent. Kibble would also have two seats on the board.

SMiSA expects to have that money by next year, which is why it can be majority owners of St Mirren

by the end of next year.