Gordon Scott and fans partnership finalise takeover at St Mirren

A takeover deal that paves the way for St Mirren to be owned by a fan-led partnership has been finalised.

Former club director Gordon Scott and the St Mirren Independent Supporters Association (SMISA) on Thursday jointly bought a majority shareholding in the club.

Construction boss Scott will become the new club chairman, with the fans group getting a seat on the board.

The Saints supporters' trust has a 10-year option to buy the shares being bought by Scott at the price he pays now - meaning a majority fan-owned club at some point in the future.

The trigger for the deal came last month when the trust broke through its fundraising target of 1,000 members paying at least £12 per month - with numbers having since risen to 1,300.

Scott is paying the bulk of the near-£1m purchase price for the 68 per cent stake in the club. Counting existing shareholdings he will now hold a 50.1 per cent stake, while the trust will control around 29 per cent.

SMISA will pay their £380,000 share of the buyout in instalments initially, while continuing to fundraise over the years ahead to raise the cash to buy out Scott, who project-managed the construction of the Paisley 2021 Stadium during his previous stint on the board.

Scott said: "Today can be remembered as a landmark moment in the long and proud 139-year existence of our club.

"This was the day where the fans gained the chance to ultimately be the ones who control St Mirren's destiny.

"For me personally, it is a life-defining honour to become the chairman of the club I have supported since I was a boy.

"We are taking over at an exciting time as we kick off a new season with the club in decent shape on and off the field - but we want to build on that in the years ahead.

"My aim is to work with SMISA to give the fans a greater degree of involvement in the running of the club than has ever been the case before - then eventually hand over a healthy and successful St Mirren for them to safeguard forever."

Five of the current six-man board - including long-serving chairman Stewart Gilmour - will now step down after nearly 20 years at the helm.

Joining Scott's new board will be current chief executive Tony Fitzpatrick, financial advisor Alan Wardrop, and SMISA representative David Nicol, while club secretary Chris Stewart will also stay on.

The supporters' trust plans to mark the takeover with a fan party to be held after Saints' Ladbrokes Championship league opener against local rivals Morton on Saturday, August 6.

SMISA convenor MSP George Adam said: "The last year has seen a huge amount of work from Gordon and those of us on the trust board to get things this far - and we are delighted and proud to finally get the deal over the line.

"But the most important people to thank are the supporters who made this happen - more than 1,300 and counting have signed up in a phenomenal show of support for what we are doing here."