Thursday 21 November 2019 09:31, UK
Lottery winner Colin Weir has completed the takeover of Partick Thistle and told fans he will hand the club over to them for free within months.
The lifelong Jags supporter, who won £161m on the Euromillions along with his ex-wife Christine in 2011, has bought a majority stake in the club through his group Three Black Cats (TBC).
His intention is to gift his newly-acquired 55 per cent stake in the Scottish Championship club to a new fan shareholding entity currently being developed, no later than the end of March.
He has also bought back parts of Thistle's ground at Firhill, bringing the stadium back to full club ownership after 10 years.
Weir, 71, approached fans's group Thistle For Ever (TfE) in September and supported their offer to buy out Partick Thistle's majority shareholding in a move designed to make the club supporter-owned for the benefit of the community.
TfE will now work with PTFC Trust to get a new structure in place to accept the share transfer. The new fan ownership group will be similar to Motherwell's Well Society.
Weir, who had previously invested significantly in Thistle and its Academy said: "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 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.
"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."
