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 pontoonlew |
| September 14, 2020, 6:59pm |
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Wait, I thought Fentys loans were ‘benign’? Maybe I’ve missed something but since when were we actually actively paying him back?
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| Mariner93er |
| September 14, 2020, 7:12pm |
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I don’t think you can call it a conflict of interests for Fenty to be helping with contract negotiations.
As the only one actively able to put money into the club, it seems reasonable for him to do so.
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| lew chaterleys lover |
| September 14, 2020, 7:19pm |
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Please please stop picking on the board members as they work really hard in their spare time to help the club.
Thats how i read it.
Otherwise confirmed what we all knew ;
club/ trust communciation is poor
none of the board put money in only their time/ skills/ wisdom
John can have money back whenever the club can afford it (watch this years end of year accounts) ....like Dave has said, i am actually all for this as well, the sooner we owe him nothing the sooner we will be open to new takeover IMO.
John is in charge of all contracts....this is the bug bear for me......with the lower salaries, covid clauses, cheaper players etc isnt his position somewhat of a conflict of interest ? The less he spends,he will see that as more chance of a profit which equals more chance of getting paid back. He is well known for cost cutting, tight purse strings and not one for a speculate to accumulate, again noted that he is around the ground doing little jobs getting ready for a return of fans, saving a few quid here and there. Like Mr Fleming cutting the grass in lockdown and we have seen the result of that in the state of the pitch now.
Whilst we are currently in the grips of a new dawn all the above approach may seem effective and even essential....trouble is the club has been running like this for 10-15 yrs regardless of any pandemic.
Well said. The author of the article rather misses the point in that board members doing things in and around the club is how an amateur or semi professional club gets by. Popping in and out of the club and doing bits and bobs is not newsworthy. It's very nice of them to do odd jobs but they just aren't big hitters in the commercial world and sadly for us the only one with any money has the vision of a house brick. Like you say leaving the pitch maintenance to someone unqualified is asking for trouble. We are run on the cheap and until we break the mould we're stuck. |
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| ginnywings |
| September 14, 2020, 7:24pm |
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Wait, I thought Fentys loans were ‘benign’? Maybe I’ve missed something but since when were we actually actively paying him back?
Thought it was common knowledge. He's been taking money back for a while now. Got a figure of £600,000 in my head but I may have imagined that |
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| MuddyWaters |
| September 14, 2020, 7:40pm |
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It’s like opening a packet of Opal Fruits and only wanting the purple ones.
John wants as much money back as he can so he controls the budget by negotiating the contracts. What he doesn’t want (now) is the responsibility or the limelight. He’s tried that and got fed up with it.
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| mimma |
| September 14, 2020, 8:28pm |
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His loans are "benign" in that Fenty would never put the club at risk by taking money out, only when the club can afford what he takes back. They are loans, not gifts, so will have to be paid back at some point. They show up in the accounts as debt. If he waved the loan and gave the club the money there would be a hefty tax bill to pay since it becomes income and not debt. At no point has Fenty ever said that he doesn't want it back.
Remember that the previous chairman demanded his money back, £350,000 immediately when he resigned. Fenty wrote out a check there and then to pay him off. He would have bankrupted the club if he didn't write that cheque.
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| HertsGTFC |
| September 14, 2020, 9:15pm |
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I work for a business where directors can loan their own money to the business for investment. What they can’t do is take it back when they want as it’s controlled by an accounting buffer, since lockdown by agreement of the board the B Share directors increased the buffer to keep money in the business. I’m sure Town have the same strict level of governance.
Regardless of what may or may not have happened with regard to signings I think the “safety first” strategy has worked to protect the club for its supporters as well as Directors and the fact we don’t currently have an overdraft is a real achievement.
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| "Crombie you would have got to that if you weren't such a fat ba%$@rd" - George Kerr, inspiration from the dug out 70s style  |
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| Ipswin |
| September 14, 2020, 9:27pm |
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Those bemoaning our performance, Holloway's selections and predicting a season of struggle after just one game have rightly been criticised
However, as usual. and after just one game, criticism of Fenty and the board has raised its head yet again despite authorising intercourse knows how many new signings, carefully managing the financial problems Covid has brought and Fenty still standing by with cash if required.
If it is to be open season on the board just remember your precious Ollie is part of the board too
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| lew chaterleys lover |
| September 14, 2020, 10:01pm |
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Those bemoaning our performance, Holloway's selections and predicting a season of struggle after just one game have rightly been criticised
However, as usual. and after just one game, criticism of Fenty and the board has raised its head yet again despite authorising intercourse knows how many new signings, carefully managing the financial problems Covid has brought and Fenty still standing by with cash if required.
If it is to be open season on the board just remember your precious Ollie is part of the board too
Well I am consistent having criticised the board for many years. I think my first rant was rather more than 10 years ago when it first became apparent Fenty had so many flaws he could never lead the club to any sustained success. This been obvious for most of his tenure. Running a football club cannot be easy but he has been so bad it reads like a comedy sketch that Alan Partridge would be proud of. Despite what some might say he is in total control and the club exactly mirrors his lack of expertise. I accept things could be even worse but they could be so much better. He has been in charge too long; the club would be given a massive shot in the arm if he wasn't involved but until he takes all his loans out we are stuck. |
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| pizzzza |
| September 14, 2020, 10:06pm |
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When talking about the EFL Trophy the writer says that to his knowledge we have never played the first team in it. I'm pretty damn sure we have played the first team in it on numerous occasions, particularly when we reaching the latter stages.
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