This is a joint statement from The Jags Foundation, The PTFC Trust and The Jags Trust
As Partick Thistle fans begin their journey as owners of their beloved Club it is important that we demonstrate a clear path towards an inclusive, democratic and representative fan ownership model.
To that end the PTFC Trust, The Jags Foundation, The Jags Trust, Proud Jags and other fan representatives met in December. All discussions were amicable and there was a clear consensus on the goals we ultimately wished to achieve.
A Working Group was set up to prepare proposals to present to the majority shareholders (the PTFC Trust). The Working Group was made up of representatives of the PTFC Trust, TJF, The Jags Trust and the John Lambie stand fans. We were assisted in the early stages of our discussions by Garry Halliday of the Foundation of Hearts and Alan Russell of Supporters Direct Scotland. We would all like to formally thank Alan and Garry for sharing their advice and experience.
On Hogmanay the proposals were shared with the Trustees of the PTFC Trust. During January the proposals were examined and clarifications sought and given.
We are now pleased to present our roadmap to genuine fan ownership to the entire Partick Thistle support.
The full document can be viewed using the button below.
The main changes to the PTFC Trust include the following:
- Add two corporate trustees, namely TJF, and The Jags Trust. (See below)
- Recognising that the Trust becomes a passive holder of shares, which also protects the asset similar to a Holding company.
- Redefine PTFC Trust beneficiaries as season ticket holders, members of TJF, and members of The Jags Trust. At the same time, make a beneficiaries class in TJF and TJT by amending articles so democracy can be delivered to beneficiaries through existing infrastructures.
- Make provision for the current PTFC Trust trustees to step away at such time that they are confident and comfortable that everything is operating as it ought to. Therefore ultimately the Trust would have two trustees, namely the two largest fans organisations, The Jags Trust, and The Jags Foundation.
- Add a clause to Trust deed that mirrors article 42 in the Articles of Association of TJF. Namely, compelling certain actions (selling stadium or part thereof) to require a beneficiary vote with 75% majority vote.
All involved are proud to present these proposals to Partick Thistle fans. We hope they demonstrate a clear route to genuine fan ownership and that they are accepted in the coming months.
Indicative Fan Ownership Roadmap Timeline