2017 Accounts (merged)

Quoted from HertsGTFC

Good post. Though the 2 million shares thing might sound stupid it in theory but could make the club a bit more democratic/collaborative and also illustrate some measurable value. If you where the one who wanted to buy JF out and it was in shares the value of those shares can rise. Usually a good rule of thumb to any sale of A shares is based upon 2.5 x OP,  All of which would make it a true investment opportunity and more attractive to new money as in turn those shares could be sold on at a profit.  

Re Bignot, the less said about that charlatan the better but maybe that appointment underlines that JF is still short of football competency at exec level, so surely you surround yourself with some expertise? There is only one person who can make this happen and it's the man himself.

I just want a bit of fresh energy from the top, regime change could be counter productive, outlook change might not be.
        

Quoted from headingly_mariner

Shares in GTFC are worthless and you will never get the money back. Loans can be called in.

Quoted from mimma

There's been a lot of rubbish spouted on this particular thread. Where to start?

This rumour about Pearson is news to me. Is there anything to substantiate it other than Chinese whispers from what someone said in the pub late one Saturday night?

If JF converts his loans to shares, it still means that whoever wants to buy the club ends up paying the £2 million in extra shares to control the club, instead of paying off JF.

If JF hadn't put his money in, what would have happened to the club? We would have had £2 million quid less to spend. As one lady prime minister has said, "there is no magic money tree".

As for his managerial appointments, finding the right person to take us on to the next level is purely down to luck. Take Bignot for example, he was well received by the fans when he was appointed. We were all taken in by his talk. It was only when we started getting thrashed at home that the fans turned on him. Then it became a Fenty disaster, what on earth was he doing giving him the job? Hindsight is wonderful stuff, and Town fans loads of it going spare.

Fenty's problems started when Pete Furneaux retired. He was the one with the footballing knowledge that JF sadly lacks. To be fair to JF he has to run everything himself, and gets no help or advice as far as I can tell, for anywhere. He will be the first to admit that he has made mistakes and bad decisions, but they were made with the best interest of the club at the time, but it's history that makes them bad decisions.

One final note, be careful what you wish for in a chairman. Just look at the likes of Dull City, Coventry, Blackpool. They all lived the dream, and look where that's got them.

Quoted from KingstonMariner

The difference being that JF won't be able to take his money away when he feels like it. Always a risk when it's a loan. The other factor is, a new investor could buy control of the club without buying all of JF's shares, so it would cost less than the £2m plus JF's shareholding.

As for the PM and there being no magic money tree, well it seems that there was, you just had to be the DUP leader to get it! Getting back to the serious point, you've got to ask yourself why did we need JF to put in that money? Some of it was because of the tax bill and that was sorted. The rest was because of poor management, which at least partly was down to him. We wouldn't have needed £2m but for him! I don't think anyone is suggesting he took decisions without thinking they were in the best interests of the club, but if he had an employee who made such errors, would he continue to back him/her?

The other thing is, with the loan there is no jeopardy. He can make mistakes, lose the club money, but unlike shares he still gets it back. At worst he can take the ground as part payment - I believe the loans are secured on the club's assets. It's a bit like those bankers trading with other people's money (obviously not exactly, but similar in principle).

Quoted from HertsGTFC

Do you know the bit in bold for definite?

Other than the BP land I am not sure we have many fixed assets to secure against.

Quoted from Cloudy

Yes. Debenture in JF's favour over the fixed and floating assets of the club secure his loans

Quoted from HertsGTFC

Do you know the bit in bold for definite?

Other than the BP land I am not sure we have many fixed assets to secure against.

Quoted from Mariner_09

They can't be totally benign if we've just paid 200k of them back and him saying he "wouldn't put the club in jeopardy" suggests he has every intention of taking them back if and when the club can afford it. Plus he won't write them off because if he did he would lose that stranglehold he has on the club and if we were debt free he wouldn't be as indispensable as he is now.