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Quiet on the investor front

Rumours and talk of investors has gone rather quiet. I’d be surprised if anything happens before Christmas. The club say is down to legacy members vote but how proactive are they being in contacting all of them

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Comments

  • The Chairman said towards the end of the September 12th meeting "......if you don’t hear further news for a while, it doesn’t necessarily mean that nothing is going on!"

    Believe me, the Trust Board members are working hard on this matter.

    We are also seeking to ensure that as many fans who are entitled to be Legacy Members (of the Trust) are given the opportunity to do so.

  • I thought you were automatically a legacy member if you have been a season ticket holder for 4 or more consecutive years. Is the Trust Board changing this in an attempt to manipulate any vote?

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  • No. They're just raising awareness as not everyone who is a legacy member may be aware of it.

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  • You still need to join the Trust to become a legacy member @mooneyman.

    The Trust are trying to contact all those who have held a season ticket for 4 years and over to advise them they are eligible to become legacy members if they wish to and join the Trust.

    I know because I got a very nice and detailed email about it (although I had just beaten them to it)

  • Thanks @bookertease. I am a Trust member although I don't really understand why you also have to join the Trust. I would be grateful if Mr Cecil could point me to the appropriate rule on this.

  • @mooneyman said:
    Thanks @bookertease. I am a Trust member although I don't really understand why you also have to join the Trust. I would be grateful if Mr Cecil could point me to the appropriate rule on this.

    If you are an (ordinary) Trust Member - paying £10 per year (reduced for seniors and U25) - and you are in your fourth successive year of holding a season ticket , then you automatically are classified as a Legacy (Trust) Member) http://www.wycombewandererstrust.com/trust-membership/rules

  • Many thanks Alan.

    I am sure there are long standing season ticket holders out there who do not realise they also need to be a paid up Trust member. I assume the club will be writing to all eligible season ticket holders (i.e. 4 or more continuous years) warning them that they must join the Trust if they want to vote on any investor involvement?

  • I received a communication reminding me I could join and be a Legacy member.

  • I think I am in my fourth year of ST holding (after a Hayes sized relapse). Is there any way I can check?

    I’ve not got a good memory.

  • Anyone out there who doesn't realise they need to be a member of the Trust to vote on Trust matters are surely a bit of a worry to have a vote on anything.

    I hear the Trust are doing what they can to alert potential Legacy members

  • Legacy members can have a vote to change the constitution. Why not actually have a vote to get rid of the non voting rule counting as a NO. As it is. It could be detrimental

  • Especially those perhaps who are blissfully ignorant of recent history.

  • @arnos_grove if you email [email protected] he will be able to confirm / advise on your Legacy Membership status.

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  • I received an email from David earlier today highlighting the fact that my son,who is 30 years of age, can apply to be a Trust/Legacy member as he has held a season ticket in my name for umpteen years. So the Trust Board are doing their best to ensure those that are entitled get a vote.
    Good work.

  • @mooneyman said:
    Many thanks Alan.

    I am sure there are long standing season ticket holders out there who do not realise they also need to be a paid up Trust member. I assume the club will be writing to all eligible season ticket holders (i.e. 4 or more continuous years) warning them that they must join the Trust if they want to vote on any investor involvement?

    David Cook has already sent out several hundred emails on 16th October to whose season ticket holders who would qualify to be legacy members, if they joined the WW Trust.

  • @ForeverBlue said:
    @arnos_grove if you email [email protected] he will be able to confirm / advise on your Legacy Membership status.

    Thanks v much.

  • I have never in my life heard of such a misguided rule as the one we have about the abstaining members vote being applied as a no- if that rule was applied to the Brexit vote-we would be staying in the EEC-and...if that rule remains-it’s so much more difficult to get the majority required for any investor proposals-unless I am missing something here? I am a Trust member but with no season ticket-as it doesn’t suit my current lifestyle to have one-but had one for many years-but I am not allowed to vote as a result-which I would’ve liked the opportunity to do-so the whole set up imo is flawed...

  • edited October 31

    @blucket said:
    I have never in my life heard of such a misguided rule as the one we have about the abstaining members vote being applied as a no- if that rule was applied to the Brexit vote-we would be staying in the EEC-and...if that rule remains-it’s so much more difficult to get the majority required for any investor proposals-unless I am missing something here? I am a Trust member but with no season ticket-as it doesn’t suit my current lifestyle to have one-but had one for many years-but I am not allowed to vote as a result-which I would’ve liked the opportunity to do-so the whole set up imo is flawed...

    Not so sure I entirely agree, @blucket. On a vote to change the fundamental structure of the club, such as this one, I can see the merits of a rule needing a majority of all those with an interest supporting it. It helps avoid the possibility of a change being slipped in by the back door. I suppose the thinking is somewhat in line with the requirement in Australia that those with a vote exercise it in their elections.

  • I disagree with you in principle on this one @HCblue. A 75% vote for anything is a high threshold, to count abstainers as no's as well sets the bar ridiculously high - whatever the issue is. Even assuming an 80% turnout (and that would be quite an achievement), a 93%-7% voting majority would still result in the vote being rejected. That feels a bit daft.

    Still the rules are what the rules are.

  • edited October 31

    @Blue_since_1990 said:
    I agree with you @HCblue.

    Same, perfectly reasonable to ask for a higher bar in such a major change.

  • Not quiet anymore!!

  • @DevC: I take your point but with a relatively small electorate like this one, I can see the justification for wanting a very high proportion of it to actively support a move ofthis significance.

    In any event, the purpose of my original post was to suggest that there were reasons to see the position as other than wholly misguided, as @blucket had suggested, rather than to express wholehearted support for it.

  • Don’t think I said wholly-but every abstainee will go down as a no-which can only have the effect of making it more likely a vote for investment would not be carried-I think we are all in agreement that the club needs to do something-as the status quo is not sustainable-and..you are correct-a 75% over the line is a high threshold-making my point even more relavent

  • "I have never in my life heard of such a misguided rule"

    I agree: you didn't say "wholly" but, assuming you're some way into adulthood, I think it a fair representation of your position!

  • Turkeys are voting for Christmas worldwide, bit of "its the only way, don't you care about the club" and 75% isn't impossible.

  • In a vague attempt to look at the facts here might be a good place to start with this lot https://www.seaportcapital.com/strategy without going all tin hat it is a little matey that email, they are an investment firm, not too great guys we happen to know. Wonder if we can see how they have impacted on any of these businesses.

  • It is possible WWFC could be seen as a loss leading promotional tool for their other ventures so doesn’t have to be profit making par se.

  • "Loss leading promotional tool" would make an excellent banner

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  • I have that on a t-shirt.

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