SMiSA Buy The Buds!
We would like to congratulate SMiSA (St Mirren Supporters Trust - a Community Benefit Society) on the joint purchase of St Mirren FC. The legal formalities around their joint offer with Gordon Scott were concluded 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 Gordonâ€™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.
We worked with SMiSA throughout the deal and they utilised Club Development Scotland consultancy services during their bid.
They 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/Club Development were with us from the start.
"The SD/Club Development 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."
Club Development Scotland was established to help clubs and groups such as SMiSA undertake large scale ownership bids such as this and we're delighted to have helped them. We hope it is just the start.