Yet another JF/MP thread

Sorry about this but here's my view.  Total disaster JF SHOULD have taken the club into administration when we were still a going concern 7/8 years ago. My view is that he didn't for two reasons- 1 he loses mo st of the money he's put in, 2 the key point, at he loses control.  Dear old John thinks he knows everything about football and for some bizarre reason thinks that at some point he'll get it right.  However, just in case he doesn't he ties his loans to the clubs only asset. 2. Enter MP, JF wants him to share the future loans while retaining control, however MP can't secure his loans because good old JF has already tied up the only saleable asset.  MP realises JF'S game but even after resigning from the board he still whacks in another 500k, not as a loan but as a way of stopping JF'S runaway train.  JF Promptly spunks the 500k share windfall on yet another mis-guided appointment. However, JF by now has already decided he's not putting any more in which is why he allowed MP to hold enough shares to shift the balance of power.  So stalemate or so it seems.  Here's what I expect to happen, Neither put any more money in, MP doesn't care, he's happy to lose a million to get rid of JF.  Club enters admin, the ground is part of the assets.  Only one group led by MP is interested, they offer  10p in the pound.  JF walks away with 250k, MP owns GTFC including ground for £1.25M.  Let's see if I'm right.  

Quoted from sweetGTFC

Sorry about this but here's my view.  Total disaster JF SHOULD have taken the club into administration when we were still a going concern 7/8 years ago. My view is that he didn't for two reasons- 1 he loses mo st of the money he's put in, 2 the key point, at he loses control.  Dear old John thinks he knows everything about football and for some bizarre reason thinks that at some point he'll get it right.  However, just in case he doesn't he ties his loans to the clubs only asset. 2. Enter MP, JF wants him to share the future loans while retaining control, however MP can't secure his loans because good old JF has already tied up the only saleable asset.  MP realises JF'S game but even after resigning from the board he still whacks in another 500k, not as a loan but as a way of stopping JF'S runaway train.  JF Promptly spunks the 500k share windfall on yet another mis-guided appointment. However, JF by now has already decided he's not putting any more in which is why he allowed MP to hold enough shares to shift the balance of power.  So stalemate or so it seems.  Here's what I expect to happen, Neither put any more money in, MP doesn't care, he's happy to lose a million to get rid of JF.  Club enters admin, the ground is part of the assets.  Only one group led by MP is interested, they offer  10p in the pound.  JF walks away with 250k, MP owns GTFC including ground for £1.25M.  Let's see if I'm right.  

Yes. I think that's where it's heading too and posted something similar on another thread before I read this one.

See one of the other, many, boring posts about schoolkids fighting over who owns the football club and it explains why the club couldnt have gone into admin but would have been wound up in the courts.
I must say all these silly games that are going on is really getting on my nerves and I finally feel like saying, after 34 years of supporting them, enough is enough. I have had to put up with crap on the pitch for years now, much more of this ownership crap and its the straw that breaks the camels back

"JF Promptly spunks the 500k share windfall" - look at the playing budget, sounds believable !  

On your subject of Parker "can't secure his loans" (which tbh I find a bit difficult to imagine though tbf they did both agree in principle of loans of up to £350K each), something has only just occured to me.

Parker said he put in shares because it generally improved the "balance sheet".
Presuming he's telling the truth, does this suggest that he really DOES have a genuine long term interest in GTFC ?  

I did my own calcs (with challenged and suported figures) where MP acquires 75% shareholding and estimated he could buy GTFC for £1.5 million - no idea if that's possible or not.

Don't like the sound of admin but how sure are you Parker would step in and be able to do all that ?
Sorry if this is a silly question but could Fenty also bid for the club if it went into admin ?

No idea if MP will step in, but why else would he put in another 500k?  I can't think of any other logical reason.  Not sure if JF could also step in, no reason why not I suppose if he's no longer on the board.

Quoted from sweetGTFC

No idea if MP will step in, but why else would he put in another 500k?

Good question.
Was it maybe already agreed with Fenty before he stepped down off the board ? Can't remember...

If only the silly gits would work together they could achieve much more with both their wealth combined.

Quoted from GrimRob

If only the silly gits would work together they could achieve much more with both their wealth combined.

a massive ego in the way

What happens if you go into admin in the BSP? 10 points deduction? If so, we could get relegated!

Quoted from NorthLeedsMariner

What happens if you go into admin in the BSP? 10 points deduction? If so, we could get relegated!

Look at the league table ... that's a realistic possibility anyway!

If we acquire a ten point deduction for going into administration and survive in the division, we would need to come out of administration by the start of next season or we would probably be relegated at least two divisions. The Conference don't mess about.

The only saleable assett is the ground, and that is held as security by the bank!

Quoted from malkamalka

The only saleable assett is the ground, and that is held as security by the bank!

Well if we had saleable assets we wouldn't be entering a CVA if that's what it came to.  If both JF and MP continue with their current stance I really can't see any alternative to be honest.

Quoted from 75

If we acquire a ten point deduction for going into administration and survive in the division, we would need to come out of administration by the start of next season or we would probably be relegated at least two divisions. The Conference don't mess about.

If only the Football League were like that...

Quoted from tarka

Well if we had saleable assets we wouldn't be entering a CVA if that's what it came to.  If both JF and MP continue with their current stance I really can't see any alternative to be honest.

We have got a saleable asset - Liam Hearn for starters !

Why wouldn't be entering a CVA ? Have you been speaking to JF again ?
http://en.wikipedia.org/wiki/Trading_while_insolvent_%28UK%29#Company_Voluntary_Arrangement

Surely it's better to buy time and try to save the club to e.g. look for a buyer and raise funds than to sell the ground ?
Would that then mean we go out of existence or would we be groundsharing at somewhere like Sincil Bank ?
If Fenty loves the club as he claims then he should be trying to save it under ALL circumstances - even if it means dipping into his own pocket or slashing the youth team setup !

You're giving me this awful impression JF would be happy to wrap it all up tommorow if he could...  
Or is it all about this new stadium idea ?

Quoted from 1600

We have got a saleable asset - Liam Hearn for starters !

Why wouldn't be entering a CVA ? Have you been speaking to JF again ?
http://en.wikipedia.org/wiki/Trading_while_insolvent_%28UK%29#Company_Voluntary_Arrangement

Surely it's better to buy time and try to save the club to e.g. look for a buyer and raise funds than to sell the ground ?
Would that then mean we go out of existence or would we be groundsharing at somewhere like Sincil Bank ?
If Fenty loves the club as he claims then he should be trying to save it under ALL circumstances - even if it means dipping into his own pocket or slashing the youth team setup !

You're giving me this awful impression JF would be happy to wrap it all up tommorow if he could...  
Or is it all about this new stadium idea ?

You read so much into things that aren't there!  The point I was making was that the whole point of a voluntary arrangement is that there are no saleable assets otherwise the administrator would sell them!  Where did I say we should sell the ground? Where did I say this came from John Fenty?  

Quoted from tarka

You read so much into things that aren't there!  The point I was making was that the whole point of a voluntary arrangement is that there are no saleable assets otherwise the administrator would sell them!  Where did I say we should sell the ground? Where did I say this came from John Fenty?  

and you talk to the radio/press like youre giving a general opinion for everybody..wrong

Quoted from sands

and you talk to the radio/press like youre giving a general opinion for everybody..wrong

Nonsense, Tarka came across very well on RH.

I thought in this league if you go into admin you get relegated 2 leagues ?

tarka you said:

Quoted from tarka

Well if we had saleable assets we wouldn't be entering a CVA if that's what it came to.  If both JF and MP continue with their current stance I really can't see any alternative to be honest.

Any alternative to what ?

I could have put the following on the "RS post match interview thread" as well but here is as good a place.

RS made a comment on Blunderside post match, which went along the lines of "all the work that John has been doing behind the scenes this last week or so which will hopefully come to fruition quite soon". Interviewer didn't pick up on it but did anyone else hear it and anyone got any clues what he meant?