On Saturday 16th July, we provided you with an update on our talks with Three Black Cats (3BC). At about the same time we requested further feedback on several matters from them, to which no substantive response was forthcoming in the ensuing three weeks. A proposed meeting was cancelled at very short notice by 3BC’s representatives on Tuesday 2nd August.
This evening, our Negotiations team met for a rescheduled meeting with Jacqui Low and Peter Shand. We were informed that 3BC would not be proceeding with The Jags Foundation as the preferred recipient of the 55% shareholding in PTFC.
This development is extremely disappointing. Throughout the last two months, we have made every effort to demonstrate that TJF is a suitable and worthy recipient of the shares. We have showed pragmatism and compromise in abundance, often beyond that with which we were comfortable and contrary to our instincts of what fan ownership should look like. We can look you in the eye and say sincerely that we tried our best: that we exhausted every diplomatic avenue to ascertain what deal, if any, was on the table.
We will be publishing much more detail on the state of play shortly, and this will equip fans to understand the real reasons why fan ownership is not progressing almost three years on. In short, however, it is our distinct impression that 3BC intends to deliver on fan ownership at most in name only.
So far as we can ascertain it, 3BC’s vision for “fan ownership” is not what Thistle For Ever envisaged. It isn’t what was sold to the outgoing Club shareholders in 2019. It isn’t what was sold to fans after the 3BC take-over was completed and it is out of step with the way fan ownership works anywhere else in the UK.
People have speculated, quite understandably, what comes next for TJF. That decision is ultimately for our more than 630 members, and is an important conversation that should take place as part of our EGM on Thursday 1st September. We urge you to stick with us for now as we decide collectively what to do next. Your voice matters in this process, and we are accountable to you.
For our part, as your elected board, however, we have absolutely no intention of walking away. As far as we are concerned, 3BC’s position is untenable and we stand ready and willing to fight for proper fan ownership at our Club with authentic engagement at its heart.
It remains our position that The Jags Foundation is the best placed body to deliver that, as the largest membership-based fan organisation ever to have been associated with Partick Thistle. If you haven’t joined us yet, sign-up today, attend our EGM, have your say and help us to get the Thistle support pulling in one direction.