We can confirm that SMiSA is currently withdrawing support in principle from the 10000 Hours proposal. SMiSA has been considering an approach from 10000 Hours to provide from its accumulated members subscriptions a substantial up front contribution towards the funding of the share purchase but key information relating to the purchase has not been supplied to allow us to carry out a thorough review of the proposition and this, coupled with the failure of 10000 Hours to engage with SMiSA following a request for information in December 2011, has resulted in us seeking direction from our members on this issue. Should sufficient detailed information be made available to us at a future date we will consider this accordingly.
SMiSA fully and actively supports fan ownership of football clubs and takes responsibility for doing everything it can to ensure the future financial stability of SMFC under any new majority shareholder. We would strongly encourage all St.Mirren fans to fully investigate all aspects of the 10000 Hours project prior to any commitment towards this.
