New Chairman?

Amen to that.
Thanks for your comments.

Hasn't JF always used loans rather than shares? I think JF was always under the impression that he could convince MP back onto the board and has been going about his business in the usual way.  In the meantime MP has been devising a plan to take control and has possibly been lying to JF to keep him off the scent.  Now for all we know MP could of told JF that he might rejoin the board and so didn't think anything of it when he increased his shares, once it went through he changed his mind. Now that would have changed things with JF not being major shareholder he is now in a position were he would plough his money into the club when it's no longer his especially when MP said he has no intention on joining the board meaning he had no option but to quit (and part of me say I don't blame him).  Is this a cunning plan by MP to force JF out ?  Is the reason why JF has acted like this because his emotions are effecting his judgement ?  Is it because he feels betrayed or lied to?

What does JF need to do to regain control ? If he says that equalling MP shares would make no difference could it be that JF has allowed someone to increase their shares now knowing they are not interested in the club anymore?

I could be worng Meza, but i d'ont think Fenty WANTS to regain control, he sees a club making huge losses
with no promise of anything else in the foreseable future and probably feels he has contributed enough.
Personally i d'ont think its Parker manipulating the situation, rather than Fenty - he has allowed Parker to
become major shareholder by not converting the money they apparently agreed to turn into shares ,rather than a loan which would maintain the 'status Quo.' share wise.
You wonder why he prefers to turn cash into loans rather than shares? Despite his promise loans can be called in if required, shares need to be sold and GTFC are not exactly investable at the moment, so not too mahy buyers!.
I find it incredulous  to believe that JF and the board were not aware Parker became major shareholder after approving his request for extra shares,(rather than a loan to the club)_, in the summer.
I really do believe this is a JF ploy for an exit, thats my opinion - time will tell if i am right or wrong.

If Fenty and Parker just sat round a table and talked to each other it would be a start. One or both are being very childish and for the good of the club it needs sorting out to stop all this speculation and uncertainty. What does each of them want and what do they want the other to do? Act like adults, stop playing with the future of our club.

On a slightly different tangent to this "spat", who is going to represent the Club at the forthcoming court cases with Boston? The Club will need to allow sufficient time to prepare a good defensive case.    

Quoted from TownSNAFU5

On a slightly different tangent to this "spat", who is going to represent the Club at the forthcoming court cases with Boston? The Club will need to allow sufficient time to prepare a good defensive case.    

Errrrr....and whose actions have put us in this position?

Quoted from sonik

If you were in John's position would'nt you want some clarity on things going forward as to where the majority shareholder sits from the outside.  That is all John is asking. You would'nt put more funds in to someone elses business only to be ousted at a later date when things turn for the better or worse for that matter.  Lets be fair about it!

Let's be fair (and I applaud your brother for his efforts over the years) if he was worried about putting funds into someone else's business he would have bought shares like Parker rather than making "benign" loans. Why won't he convert some of the loans to equity and remove both the ownership problem and the doubts about his true intentions?

He's his own worst enemy.

Whether Parker is genuine or not John's looking like a muppet. He looks either naive/stupid or he's like a  conniving barsteward holding the sword of Damocles over the club.

Yeah I'm started to sway a little away from JF.  I cannot forget the amount of hard work and money JF has dedicated to GTFC and things just didn't work out.  However there are 2 things that could potentially cause me some concern.

a) If MP cannot find someone to act in his stead then what ?  He has clearly stated he has no interest in GTFC, more like I have no interest whilst the board act like chimps.  So is he going to wait until November to clear the entire board and appoint his own team maybe.  But that does sound encouraging especially when the board (exc MP) had 3 members who never really contributed to anything and because JF was ploughing his money in these guys ultimately turned into yes men.

b) I don't like the fact JF is going to remain on the board as an ex chairman.  He has shown quite clearly might I add that his relationship with MP has deteriated otherwise this would have been resolved ages ago.  And secondly (for Racido) this is different to when PF stepped down why cos he was skint and had no animosity towards JF when he came on the board.  When you have people in a team regardless of the type of work is done if there is any unprofessionalism, bitching, etc the team may still operate but you would have one member poisoning others with his rather large knife.

The Boston case, if lost, would surely make JF's position untenable.

By the way, I admire your loyalty sonik if nothing else!

It's all down to Fenty's loans. Fenty is not going to go while he has loans in the club unless he gets them back. There are three, options, someone else can pay them (unlikely). Fenty asks for the money back. (Says he won't but means administration if he does) (Possible) or he says thanks very much I'm off now keep the loan for the good of the club. (Almost impossible to imagine). So he has got a strangle hold on the club, no one else can or will take over while he is around. Fenty will then say, if anyone else wants to come in and take over then they are more than welcome. What he won't say is that if they do I want all my money back or I will still be wanting power even though I'm not the chairman but I am still on the board with my two men that will make a decision but soon change it to yes Mr Fenty if I tell them too.