10000Hours are aiming to buy 52 per cent of the club's shares, which were put up for sale more than two years ago. They planned to turn Saints into the hub of the community and would fund the purchase using grants and government loans. Richard Atkinson and Chris Stewart, who are spearheading the bid, were voted onto the board last year.
At a public meeting in August, Mr Atkinson said everything was 99 per cent there and it was a matter of days, not weeks, until everything was sorted. So there was growing frustration when nothing more was said - until tonight.
In a statement that appeared on the 10000Hours website a few hours ago, it seems they have failed to clear the final hurdle that made up that one per cent problem. They are now putting together an alternative proposal and have called a meeting at St Mirren Park on Wednesday, November 30 so people can hear about it - and what caused the problems with the previous bid.
However, it has also been agreed that the selling consortium will consider any other bids that come in. This would suggest there is another party sniffing around, more than likely the consortium led by current director Ken McGeoch. News of that bid emerged in September but very little is known about it.
Looks as if things are about to get interesting!
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