Why We Need The Jags Foundation
At its simplest, we require to have a means of being able to legally hold shares in Partick Thistle Football Club. Colin Weir has presented us with a unique opportunity to have the club in the ownership of the fans.
The Jags Foundation has been formed as a private company limited by guarantee. As such, all activities will be subject to legislation. This legislation provides requirements that have to be met and enables a robust organisation to be formed. The Board of Directors have a specific responsibility to ensure that The Jags Foundation operates within these parameters, providing a clear governance structure that will work with 3BC to deliver Colin Weir’s vision of fan ownership.
In addition to allowing The Jags Foundation to hold shares in Partick Thistle Football Club as part of their assets, this corporate structure allows us to operate as a membership based organisation with members being allowed equivalent rights to shareholders.