Impasse

Seems to me as simple as this:

MP left because his voting rights didn't reflect his financial input and as such was unable to have any influence when the other 3 banded together against him. So he resigned from the baord and let them get on with it.

JF has resigned because although he has the board in his pocket he no longer has overall control and in the final analysis cannot dictate what ulitmately happens to the club.

Interesting point that MP made when he said JF still hadn't put in all of his agreed funding for the year - about £350k.

I can totally understand MP but you would have thought he already knew the boards process before agreeing to join.  Obviously this situation may have started by JF because he doesn't have full control or he is trying to force MP onto the board.

But like MP said - JF can resolve the issue immediately if he wants by turning some of his loans into shares.

You have to ask why JF isn't doing this - for my part I have always believed these loans were far from "benign" and that is why JF isn't taking this action.

Also, MP is quite right when he says buying shares in the company makes the balance sheet more solid and is preferable to increasing it's debt.

For me JF has more questions to answer than MP

Hard to watch Rome burn with all that noise from the fiddles in the background

Well I'm no businessman lol but if This is JF way-out then so be it I hope there is someone else who can take the reigns.

Was looking at rich men in GY one being Geoff Dyson Former owner of Chartdale Homes Sells for 67mil

LOCAL multi-millionaires have appeared alongside the Beckhams, Simon Cowell and Sir Richard Branson in this year's Sunday Times Rich List.
The annual guide to the richest people in Britain and Ireland has ranked the Cornish dynasty as the wealthiest in the area for the second year running.
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MONEY MEN: From left, David Ross, Ranjit Singh Boporan and the late John Woodward.
Michael Cornish, 57 – the son of the late Evan Cornish, who founded Louth packaging giant LinPac – and his family are ranked 160th, with a fortune of £497 million.
The Horncastle-based family – who were ranked 140th last year – made £700 million by selling LinPac to Montagu Private Equity in 2003.
As reported, their fortune dropped £100 million between 2009 and 2010, but has remained stable in the past 12 months.
Michael is now a 50 per cent shareholder of Oak Ridge Hotels, which owns the Brackenborough Hotel, near Louth, and the Ashbourne, at North Killingholme.
Soaring back into the list is Carphone Warehouse co-founder, Grimsby-born entrepreneur David Ross, 45.
Ranked at 178, with a fortune of £450 million, Ross fell out of the rankings in 2009 when his property venture, Kandahar, was badly hit by the financial crisis. It is now thought to be worth £230 million and Ross is reported to be ready to sell its assets.
Ranked at 237, with £330 million in the coffers, is John Cook, 66, and his family. They own Bourne Leisure – which operates Thorpe Park, in Cleethorpes – and although their fortune is up £10 million in the past 12 months, they have fallen 23 places in the Rich List rankings.
Up 79 places at 275, is Ranjit Singh Boporan, 44, who expanded his business empire last year when his company bought Grimsby's Five Star Fish.
Having made £95 million in the last year, Boporan recently took over Northern Foods in a £342 million deal. With his wife, Baljinder, 44, he also owns the 2 Sisters chicken processing operation in the West Midlands, and the Harry Ramsdens and Fishworks restaurant chains.
A regular fixture in the Rich List, is landowner Sir Richard Sutton, 73, who has risen six places and ranks at 511 this year, with £139 million in the bank.
Sir Richard and his family own large estates in Lincolnshire, London, the West Country and the US.
Not far behind is former Conservative MP for Louth and Cleethorpes, Lord Jeffrey Archer, who is currently ranked 583, with a fortune of £120 million. He has risen 384 places, with his wealth increasing by 85 per cent in the past 12 months thanks to his extensive art collection and fictional novels.
Next to appear in the list is the Earl Of Yarborough, who has dropped 63 places from 808 in 2010, to 871, with £80 million in the coffers.
Aged 47, the Earl runs a 28,000-acre estate near Grimsby and is heavily involved in farming.
Up 23 places at 968 is Louth-born and educated media mogul Chris Wright, 65 – who made £23 million in 2007 when he sold the radio arm of Chrysalis. He has a pot of £70 million according to the Rich List, a £6 million increase on the £64 million he had last year.
Not on the list this year is Lincolnshire "caravan king" John Woodward who died in September, aged 67.
Ranked 204th on the list last year, with £330 million, John made cash when he sold Fantasy Island, near Skegness, and was later was chairman and managing director of Blue Anchor Leisure.
In 2010 his wealth was £330 million, up £118 million from 2009.

Plenty of local folk

Sod the richlist. We just need someone who can run the club properly.

Who names a 'property venture' after a city in a warzone?

MEZA that's a MEGA post - where did you get all that info from and the time to post it - I'm well impressed!

David Ross can watch his home town team die on its bottom having put money into some fecker else's club. Nice one.

Nice list, but it only matters if they happen to like football, and I can't imagine the Earl of Yarborough in the main stand eating a pie.