Oh what a tangled web we weave, eh?
Looks like Mr Caisley has won over enough of the former directors/managers. Reference my earlier comments, that if the shareholders thought someone else could do a better job they would convene an EGM and replace the board? Looks like that is now the case.
Assuming what we read is factual, then people will get what they wanted - Hood and Bennett will be history. Looks like that is a 100% certainty now. Certainly the PR of recent days has done little to help their cause - My missus heard Mr Hood on The Pulse yesterday morning and said he sounded very down and negative. Guess it becomes a bit clearer now?
Must admit, Mr Caisley has timed his strike to perfection. Mr Hood looks to have the following options at close tomorrow:
1 - Announce the pledge has hit the target - fans have saved the club, for Mr Caisley's consortium to step in having £1/2m less to find.
2 - Announce pledge has not hit target, and that therefore will not be called in. Resign ahead of EGM or try to hold off administration till EGM so new directors have to make decision on putting interim funding in or appointing administrators. Administration will happen if Mr Caisley's consortium choose it to be so, by not putting any funds in now. They can then seek to buy the assets off the administrator, saving a massive amount by screwing HMRC, as well as ditching various other creditors and liabilities.
3 - Announce pledge has hit target, but will not be called in due to materially changed circumstances. As 2, except higher risk for directors because they could be seen to have precipitated the administration by turning down funding that would have avoided it.
There may be others, but those jump out to me.
In all cases, Messrs Hood and Bennett go, and Mr Caisley and his consortium have the OPTION to step in. Should they subsequently announce "the situation is much worse than we feared, and we have to withdraw our interest", then presumably its oblivion? In any case, I would be very surprised indeed if they do not seek to ensure the currrent board have no choice but to appoint administrators, since that way their investment could be far less and they would start with a clean sheet, with everything blamed on the previous board.
Where does that leave us as fans? Between a rock and a hard place. Carry on pledging, knowing the current board will not be in charge but having nothing concrete yet from Mr Caisley? Stop pledging and probably bring about administration anyway? But knowing for certain now that Mr Caisley is there to pitch for the assets if he chooses?
Like I said, move timed to perfection. Mr Caisley's revenge on Mr Hood will be complete indeed. That is between them. I guess what we supporters now have to try and judge is whether what we have read today seems likely to ensure the club's survival? Words are easy, but any realistic proposal that looks to ensure the survival of the club - and, just maybe, provides an opportunity for it to compete with the monied clubs again, can only be welcome if the alternative is oblivion? Provided the motives behind this action are genuinely in what they see as the club's interests.
I doubt any board led by Mr Caisley would seek to engage with the fans any more than the current board or his and other previous boards have. If that board was delivering longed-for success, though, I guess most fans would be happy to let them get on with it and get back to enjoying the game not worrying about the club and its future?
There is so much more I COULD add, much of it scenarios and conjecture, but unfortunately I cannot because of pressing work commitments. The one day I could have done with more time.
