Is there a price ??

Quoted from 120790

A vehicle is a depreciating asset. A loan isn't. A loan is repayable. You are being loaned it, not gifted it. It is generally repayable with interest, but I've never heard anything about John Fenty ever charging interest on his loans. Have you? So there is something else to be grateful for.

Quoted from lew chaterleys lover

All what you say may be perfectly true; I am not clued up on the clubs (or any) finances, but there are a couple of things that come into play, surely?

It is very unlikely that anybody else will come in and refund Mr. Fenty what he considers he is owed, besides the other financial commitments you talk about. But Mr. Fenty said at the forum that he was at the end of his tether with it all, and he must be feeling more like that after recent events. Therefore if he wants out, he would have to negotiate a dignified exit. It might be that he wouldn't get the whole amount back, it might be that he would have to accept the advantages of being a high profile football club chairman means he would have to consider some of his expenditure as a necessary expense for his 16 years in the limelight. It doesn't matter how difficult some of that time has been, the fact that he was in the spotlight  would have helped his business and political ambitions and would  have to be accounted for.

If the proposed new stadium does not go ahead within a short time frame, his position will become untenable don't you think? To go all these years with all those false dawns will surely mean he will have to think about taking losses on the chin to allow someone else to come in?

I suppose what I am saying it is not ALL about money is it?

Quoted from 120790

£2 million is merely the amount outstanding to repay John Fenty for his loan. According to the last published accounts to May 2017. That amount is a benign loan, whilst John Fenty remains the controlling director with his shareholding.

If somebody else wanted to come along to take a controlling interest in the club, it would be perfectly understandable that John Fenty would want his money back. Why wouldn't he? He hasn't loaned the club that money just for a new owner to come along and enjoy.

So that person or organisation would first of all have to reach an agreement to pay John Fenty back as a £2 million lump sum, or by way of a repayment schedule in instalments. If a new owner was hoping to pay this back in instalments, then he would have to come up with a really miraculous and sustainable plan to generate sufficient gross profit in order for the football club to start paying back its loans. But there is absolutely no signs of the club generating that sort of profit at the moment in order to do so, save for a huge slice of football fortune, which clearly cannot be planned for.

If you then look carefully at the published accounts, you will also see that in addition to his loans, Mr Fenty has provided financial guarantees amounting to £325,000. This will be security for the banks for which they will provide things like overdraft facilities. So when people criticise him and talk about his loan, they need to realise that his support goes much further than that. Essentially if the club was to fall over financially tomorrow, then John Fenty would be legally bound to personally cough up, to the tune of up to £325,000 in order to settle the companies bank account balances. In winding the business up, he would then have to try to recover that money by way of the sale of assets, for which he maintains fixed and floating charges over, so has first dibs on those ahead of any outstanding creditors.

But in respect of this £325,000 personal guarantee, whichever person or organisation that wishes to take over from John Fenty, not only has to have the ability to stump up to clear the loans, but they also have to have the personal ability to become a guarantor to the tune of this £325,000.

Moving on from there, this brings us to the matter of John Fenty's shareholding. These are totally and utterly not connected to his lending or security for the club. These are shares that he has had to obtain by whatever means, mostly by purchase. Remember that the club is a PLC, anybody can buy the shares. But in order for them to obtain a majority stake in the business, or an controlling interest, then they would need to obtain buy greater number of shares than what John Fenty owns. Presumably by purchase, remembering that John Fenty really doesn't have to sell his shares either. So that could be a seriously large investment in order to surpass the shareholding of John Fenty and the other shareholders in order to reach a level of controlling interest.

Maybe John Fenty would have an appetite to dispense with his shares at a hugely discounted price, if he was going to recover his loans and be relieved of his security. And if he could be confident that the person taking over has what is needed financially to take the club forward. Who knows? Maybe not! He may wish to recover the cost of his shares too, or at least what is deemed as their current value.

But considering all of this, if John Fenty isn't convinced that a new person or organisation doesn't have the wealth to bring anything to the club that he cannot himself, then why the hell would he move aside. Especially when you consider that this is the club he loves, that he supports, and that he is financially quite comfortable with his existing exposure.

It is only when you start breaking it down that you start to realise people, that whilst some seek to paint John Fenty as the villain, that he is actually the only real bit of cement between the ailing bricks that is giving you a football club to follow. No matter whether you like that or not, it is the true facts of the matter.

I would imagine that if I was in John's shoes, I would be looking for:

1. my £2 million back.
2. being relieved of the need for me to provide £325,000 of personal guarantees.
3. recovering the cost of my shares or at least some value for those shares.
4. a new owner that I know would be in the positive interests of the club, with something extra to bring to the table.

Quoted from 120790

He hasn't got to do anything. This is not a forced position. He can sit on this for as long as he wishes, in the knowledge that despite the emotions of supporters he doesn't have to sell, or give it away even.

The reality of it is that he knows that the fan base numbers and spirit, will fluctuate, both up and down, as the situation on the pitch does. He is comfortable with that. Crikey, whilst it wasn't ideal for him, he was able to financially cope and support even when it went wrong cataclysmic-ally and we dropped out of the league.

The Fishy, as popular as it might be, is actually a small proportion of the fan base. So we can all vent our spline if you wish us to. But it is hardly the voice of the majority.

"In the limelight" you say. I would hardly class it as being in the limelight.

"Benefit to his business" you say. Grimsby Town has had absolutely no benefit to his business activity at all. Quite the reverse in fact. We have benefited by way of survival as a result of his success in his business activity.

"Benefited as a councillor" you say. Really? I am sure that if you want to you can organise a campaign for people not to 0vote for him at the next election. I think you will find though, that losing his role as councillor is hardly going to damage him financially.

Quoted from LondonMariner43

Whether you like it or not, what Ascend says is correct.  There is no way the fans can remove Fenty and buy the club.  To do that, you need to find a sugar daddy with £2m quid or more.

JF has always said he would sell if a buyer came along but they haven't.  

It always amazes me how posters on here think that running a lower league football club is so easy.  If it was so easy to have success and get promoted each season and never get relegated and never make bad decisions we'd need a different league structure with 24 promotions, no relegations and no sackings.