EuroMillions winner Colin Weir has completed his takeover at Partick Thistle as the first steps to fan ownership are taken.
Weir has purchased a majority shareholding in the Jags and a holding in land at the club’s Firhill Stadium. That land will be immediately gifted back to the club.
Partick Thistle are heading towards fan ownership. (Photo by Alan Rennie/Action Plus via Getty Images)
TBC, the firm Weir is operating through, will gift the 55% shareholding that it has purchased directly to a new fan shareholding group currently being based on the good work of the Well Society at Motherwell.
There will also be a new interim board formed at the club until fan ownership passes in March 2020. The new directors are Colin Weir, Dr Charan Gill MBE, Ian Dodd, Alan Caldwell, Andrew Byron and John Penman.
In the wake of this news, Weir has said in a club statement: “I am grateful to the majority shareholding group and FDL for working with Three Black Cats to pave the way for the exciting prospect of fan ownership for Thistle. I will ensure that the trust they are placing in me is not misplaced.
A new dawn. (Photo by Ian MacNicol/Getty Images)
“Thistle for Ever (TfE) planted the thought of fan ownership as a real option in my mind. From there, TBC has taken the dream and is turning it in to a reality. But this has all happened quicker than anyone might have anticipated. That’s why I have offered a three to four month window for fans to get everything in place before handing over shares.
“They want to get it right and I want to be sure that when the new entity is operational, there is a structure there that will allow for a smooth transfer of ownership. This is a major financial commitment on my part as fan owners will not need to repay a penny – but I believe this gives fan ownership the best possible start.
“There will be a further announcement later about the members of the interim Board and, subsequent to that, in relation to my funding of the Thistle Weir Youth Academy. Today is a great day for a Club that means everything to me. I hope that fans can get behind this exciting development. They talk about Thistle being their Club – and now it really will be.”