St Mirren fans approve takeover bid

St Mirren are set to become part of the growing trend for fan ownership in Scottish football after supporters voted to press ahead with a planned buy-out.

The Paisley club have been up for sale for seven years but the St Mirren Independent Supporters' Association (SMISA) hopes it has finally put together a package that will see it follow similar schemes at Hearts and otherwell.

The supporters group has been working with former Buddies director Gordon Scott on plans to buy a majority shareholding held by chairman Stewart Gilmour and a number of boardroom allies.

And a special general meeting of the trust on Wednesday night saw members vote in favour of a joint offer made by Scott and SMISA, which could deliver majority fan ownership within a decade.

The deal - which Clyde Sport understands to be worth around £1million - has already been accepted in principle by the selling consortium.

The bulk of the asking price will be met by lifelong Saints fan and construction boss Scott, while SMISA plans to borrow its share of the cash, with fans repaying the sum back through a subscription scheme similar to the successful model run by the Foundation of Hearts.

The first stage of fundraising will take place this summer and, if successful, Scott would become majority shareholder and chairman, while SMISA would own 29 per cent of the club and members would be able to elect a director on to the board.

SMISA would then have 10 years to repay Scott's money before assuming control.

SMISA chairman George Adam said: "I firmly believe the best way ahead for clubs like St Mirren is for them to be run by people who will care for them most - the fans.

"The current board deserve a huge amount of credit for the job they have done over the years but they have made it clear they want to move on, and one way or another the club will be sold.

"We have seen too many other Scottish clubs fall into the hands of owners who haven't had the best interest of the club at heart over the years - if the fans back this deal and stay the distance they guarantee that won't ever happen to St Mirren.

"Gordon's involvement means the club will be run by a Saints man with the expertise to take it forward in partnership with the fans, and a route through which we can make a sustainable transition to full fan ownership over the long term."

Scott added: "My desire is to see us back where we belong at the top table of Scottish football.

"I firmly believe I can help achieve that, and then successfully deliver this club into the hands of the supporters.

"St Mirren is a community club and if we take over we would continue to run it in the same prudent way it has been for the last 20 years.

"It is also important, however, that we bring a new business dynamic to the club and fully empower the supporters to help take the club forward.

"This won't happen without the support of the fans. We have a wonderful chance to preserve the history and then form the future of our football club together.

Let's not let the opportunity pass us by."

• 2014