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PatReilly · 28/4/2016 8:45 am

http://www.heraldscotland.com/sport/14456423.Geoff_Brown_hits_out_at_Dundee_United_chairman_Stephen_Thompson_and_urges_him_to_walk_away/

From yesterday's Herald

Geoff Brown hits out at Dundee United chairman Stephen Thompson and urges him to walk away

GEOFF BROWN, the owner of St Johnstone, is advising Stephen Thompson to cut his losses at Dundee United and walk away.The embattled United chairman and majority shareholder is in America trying to woo investors after admitting he will listen to offers at Tannadice, but Brown is critical of the fact he took a salary out of the of the relegation-threatened club until recently and believes he must be careful not to risk its future by selling to the wrong people."I can understand why he wants out," said Brown. "Relegation is a difficult situation. I’ve been there, but why would he be trying to sell the club? Should he not just give it away?

“If there is debt in the club, I’d have thought he’d be as well getting out.“I would walk away and maybe put a condition on any subsequent sale of players who were regarded as assets.“We have seen guys like (Ron) Dixon and (Giovanni) di Stefano coming in from outside (at Dundee) and look what happened.“Like it or lump it, clubs like Dundee United, Dundee and ourselves are community clubs. They aren’t opportunities for investment from outsiders.“Stephen has said he’s stopped taking a salary out of United. That’s all very well, but, if I had been taking a wage out of St Johnstone, they’d have gone bust years ago.“That is a problem with Kilmarnock as well, where Michael Johnston is taking a big salary out of the club. These clubs can’t afford it."

Brown believes Thompson handled the sales of Gary Mackay-Steven and Stuart Armstrong to Celtic badly last January and created serious problems for himself.“For the life of me, I couldn’t understand the way Stephen sold it to the United fans," he said. “He should have been completely straight with them.“If you have a player that is being offered three or four times his salary somewhere else, it is pretty much impossible to hold onto them."

Meanwhile, Mixu Paatelainen, battling to keep his job, has more or less conceded his players lack the mental strength to survive in the Ladbrokes Premiership.“Mentality and desire is not there,” he said in reference to the weekend defeat to Hamilton. “I don’t know if they were running scared. You will have to ask them.”

Tek · 28/4/2016 9:51 am

It's funny he mentions ST perhaps taking a percentage of future player sales as some form of remuneration if he departs.

I was going to suggest that very thing just yesterday but hesitated because I thought it would go down like a lead balloon lol.

Say to him 'no one will offer you the money you want. Just walk away now and over the course of the next 10 years if Utd sell a player you get (X amount)'.

A last resort. But an option.

Hopefully a buyer is found first however.

Tek · 28/4/2016 4:25 pm

Tek wrote:
It's funny he mentions ST perhaps taking a percentage of future player sales as some form of remuneration if he departs.

I was going to suggest that very thing just yesterday but hesitated because I thought it would go down like a lead balloon lol.

Say to him 'no one will offer you the money you want. Just walk away now and over the course of the next 10 years if Utd sell a player you get (X amount)'.

A last resort. But an option.

Hopefully a buyer is found first however.

Been thinking more about this today.

What was the amount it was mooted ST wanted for his shares?Was it 2 million?Say for arguements sake it is.And say for arguements sake Justine wants 1 million.

There's a ballpark figure of 3 million just to buy the 2 of them out.

Now on top of that you then have to service the debt...probably pay off some players...find money to keep maintaining Tannadice (an old,costly stadium)...and that's all before we even talk about signing new players.

It's unrealistic that anyone will meet their valuation and buy them out imo.

He should instead be offered £1 for his shares and (some form of percentage on future sales for say the next 5-10 years).

That way whoever is coming in to take his place as majority shareholder can actually concentrate on using their funds to improve the team.Surely if Thompson really does have Utd's best interests at heart...that is what is most important to him?

Arab_plumber · 28/4/2016 5:58 pm

Once he goes there should be no further fattening of his wallet...

Brown has nailed it perfectly imo

HeggyHandshake · 28/4/2016 7:32 pm

Agree with Plumber, don't want to see that bastard get another penny out of us.

28/4/2016 8:27 pm

Speaking of Thompson's shares, he has 53% so can sell a majority shareholding and leave Justine hung out to dry......this would reduce the amount needed to buy the club........ and they have, apparently, had a recent fall out.

Am I being too cynical here......

TheShed · 28/4/2016 8:34 pm

scarpia wrote:
Speaking of Thompson's shares, he has 53% so can sell a majority shareholding and leave Justine hung out to dry......this would reduce the amount needed to buy the club........ and they have, apparently, had a recent fall out.

Am I being too cynical here......

That seems to always be forgotten, everyone always talking about buying both of them out.

HeggyHandshake · 28/4/2016 8:53 pm

TheShed wrote:
scarpia wrote:
Speaking of Thompson's shares, he has 53% so can sell a majority shareholding and leave Justine hung out to dry......this would reduce the amount needed to buy the club........ and they have, apparently, had a recent fall out.

Am I being too cynical here......

That seems to always be forgotten, everyone always talking about buying both of them out.

They don't even talk to each other. Any money from share sales has to be halved between the 2 of them.

TheShed · 28/4/2016 9:03 pm

HeggyHandshake wrote:
TheShed wrote:
scarpia wrote:
Speaking of Thompson's shares, he has 53% so can sell a majority shareholding and leave Justine hung out to dry......this would reduce the amount needed to buy the club........ and they have, apparently, had a recent fall out.

Am I being too cynical here......

That seems to always be forgotten, everyone always talking about buying both of them out.
They don't even talk to each other. Any money from share sales has to be halved between the 2 of them.

So basically it's all or nothing,

28/4/2016 10:38 pm

HeggyHandshake wrote:
TheShed wrote:
scarpia wrote:
Speaking of Thompson's shares, he has 53% so can sell a majority shareholding and leave Justine hung out to dry......this would reduce the amount needed to buy the club........ and they have, apparently, had a recent fall out.

Am I being too cynical here......

That seems to always be forgotten, everyone always talking about buying both of them out.
They don't even talk to each other. Any money from share sales has to be halved between the 2 of them.

Are you sure HH.....Two separate shareholding with different numbers of shares.

Are you saying they have a legal agreement that you're aware of?

Tek · 28/4/2016 10:59 pm

@HH and Plumber

It wouldn't sit great with me either him taking more money out the club but i'm trying to think unemotionally about how the transition of any potential take-over could take place swiftly and smoothly,and most importantly For the benefit of Dundee United.

As i said above i want a situation whereby any potential new owner/s can put the majority of their funds into Dundee Utd NOW when we really need it.This transfer cut for him basically handing over his shares is a definite option imo.

As for Justine who knows how she'll play things.It's been total silence from her and there are of course no quotes attributed to her at all let alone that she wants to sell her stake in the club.

Bear in mind Scarpia she will still be the 2nd largest shareholder in DUFC regardless of who may own the majority shareholding.So whilst she may not have the definitive voice as regards the clubs day to day running etc by the same token she can't just be ignored or 'hung-out to dry so to speak.

HeggyHandshake · 29/4/2016 12:22 pm

scarpia wrote:
HeggyHandshake wrote:
TheShed wrote:

That seems to always be forgotten, everyone always talking about buying both of them out.
They don't even talk to each other. Any money from share sales has to be halved between the 2 of them.

Are you sure HH.....Two separate shareholding with different numbers of shares.

Are you saying they have a legal agreement that you're aware of?

I think so mate. Last year when someone was interested it was noted that any money was halved between them. ST said he wanted £2 Million to himself and Justine could decide what she wanted. This is the greedy snake we are dealing with here... I'm pretty sure this was the case. This could be a problem for us in the future, I'm afraid.

Tangy · 29/4/2016 2:09 pm

Surely price is dictated by a load of factors though. Presumably the 2m was when we were flying high in the premises (ha - 4th!) And when we had a lot of assets.

Now we are a championship club with our only 2 real assets on our books which wouldn't fetch 1m between them and too much money going out on wages, thus us making a loss.....

Surely the valuation has to now be less????

Tangerine'n'Black · 29/4/2016 6:41 pm

In our current predicament we're not really an attractive saleable asset.

Holiday Bob knows that when he's making statements that he would sell ..........he knows there won't be a queue at the door to buy and thinks we're mugs who'll believe he's on way out at calm down.

Probably thinks when the dust settles he'll get back in and carry on regardless because He can't find an appropriate person to "take the club forward"

PatReilly · 29/4/2016 10:24 pm

Tangerine'n'Black wrote:
Probably thinks when the dust settles he'll get back in and carry on regardless because He can't find an appropriate person to "take the club forward"

Looks like you've godified Stephen Thompson the way you've written this.......