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Gloating about Scunny

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It Bites
November 15, 2020, 10:06am
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Their Chairman has agreed to write off all loans to the club to secure the club's long term future ....    
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Ipswin
November 15, 2020, 10:10am
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Silly man I wonder how long it will be before they go to him for more.


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HertsGTFC
November 15, 2020, 10:18am

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Quoted from Ipswin
Silly man I wonder how long it will be before they go to him for more.


That’s possibly why he’s done it as I would imagine FFP or whatever it is prevents him loaning anymore whilst they have their current liabilities.

At the very least if he does that it reduces their liabilities and prevents/delays any administration.


"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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Swansea_Mariner
November 15, 2020, 10:32am
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Fair play to him that's a massive commitment for him to make given the amount of money he's put into the club.

Rather than gloating should we not be envious about being debt free our time horizon for this milestone seems never ending.
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promotion plaice
November 15, 2020, 10:34am

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If he does write off his loans I doubt Swann's Mrs will allow him to waste more money on Scunny.

Looks like they are going for a similar business model to ours now, only spend what you have and rely more on developing young players through the academy.

No doubt some will be asking Mr Fenty to write off his loans now.


When Leeds trainer Les Cocker was once told Norman Hunter had broken a leg, he asked: “Whose is it?”
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friskneymariner
November 15, 2020, 10:37am

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Mmn wonder if that idea will catch on.


Give a man a fish and you feed him for a day,teach a man to fish and you give him an excuse for him to escape from the wife and kids for the weekend and drink lots of beer.
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28195
November 15, 2020, 11:23am
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He must have given up on his ambition, to get Scunthorpe into the Premier League? Maybe if I had all that money spending on a similar passion would be the thing to do. Maybe sponsor a player or sign around the pitch, or even splash out on some hospitality.

The benefit must have been for his ego or gratification rather than Scunthorpe as I see little benefit to them.
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ska face
November 15, 2020, 11:26am

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Quoted from promotion plaice

No doubt some will be asking Mr Fenty to write off his loans now.


Yes please. Any chance John?

Directors’ loans showing as £1.55m on the 2019 accounts. At £200k a year (for example), it’s going to be more than another 7 years before this is cleared, and that’s assuming we’ll have £200k a year spare to throw away.
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tintowner
November 15, 2020, 3:57pm
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Quoted from It Bites
Their Chairman has agreed to write off all loans to the club to secure the club's long term future ....    


But......has he actually done it yet?......... and if he does...what will be the conditions because i am sure there will be some.

Scunthorpe United as a club own the stadium and land around it. When it was built, there was nothing else around there or abouts.
Now the situation is different..very different. It is prime retail land and worth a lot of money.

I am sure that if Mr Swann did 'write off' his loans to the club......there would be conditions and the ownership of the ground (not the club)
could form part of those conditions.

How many other chairman of various clubs have sold up etc but kept ownership of the grounds.


Batch, K.Moore, Waters, Wiggington, Crombie, Brolly, Ford, Drinkell, Mitchell, Cumming, Kilmore. D.Moore, Stone, Liddell. ....1979/80..... now that WAS a team.
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moosey_club
November 15, 2020, 4:23pm
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Its more interesting to me that he has said he is heading down the sustainable route and relying on a good structure / youth set up rather than buying his way up the League which he said he has had a go at but failed.
The current squad of youngsters he has have been getting panned by one and all as not good enough so i just hope he has enough time to fail completely before his wife pulls the plug completely.


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