Quoted from Grimsby Town Football Club | Posted: May 14, 2024
Andrew Pettit has become the new Chair of Grimsby Town Football Club.
Jason Stockwood had held the position since 1878 Partners Ltd assumed control of the club in 2021 and May 2024 marked the end of an agreed three-year tenure.
On becoming the new Chair, Andrew Pettit said, “I am honoured to have the opportunity to take over as Chair of Grimsby Town from Jason. It will be very hard to follow such an exceptional leader.
“I would like to thank him on behalf of the board for all his energy, hard work and wisdom as we started this journey together. Also, as Jason and I will be continuing to work closely together as we have over the last 3 years, it will be very much a case of evolution rather than revolution. For my part, I will do my best to guide and improve the tremendous team we are assembling at the club on both the playing and non-playing side.
“We will look to build on the progress that has been made and the lessons that we have learned since 1878 became the majority shareholder of our club in 2021.”
Jason Stockwood added, “Andrew and I have a great partnership where we truly do everything together and share the workload in the club. We agreed at the start of this journey to serve three-year terms as Chair, and that time has come to an end this month.
“It has been one of the greatest privileges of my life and a brilliant learning experience. I believe we now have all the building blocks and people in place to advance further both on and off the pitch.
“I look forward to continuing our work together, and I will be as engaged as ever in trying to improve the club. I know he will do a brilliant job for all of us, albeit with slightly less swearing and smarter clothes. Thank you for all your support and see you at BP soon.”
Jason will become Vice-Chair and continue to work closely with Andrew and the rest of the board.
The below has been stated by Stockwood previously, hasn’t it? I think this was pretty much pre-determined from the beginning (although JS has made no secret how tough he’s found some of the more vitriolic comments on social media).
Quoted Text
We agreed at the start of this journey to serve three-year terms as Chair, and that time has come to an end this month.
Well they both sound as enthusiastic as ever and everything sounds positive - I think news on inward investment is obviously important as all good things in football today requires a massive amount of £££'s especially things like a new training complex. They intimated that the inward investment will be used for infrastructure.
I'm sure all of us hope this enthusiasm, positivity and business accumen translates to on field success but I get a feeling that with the new CEO and Artell, together with things moving on the investment side they feel they now have got all their ducks in a row so to speak to really push on.
They said player negotiations are going well so we can look forward to that soon.
Well they both sound as enthusiastic as ever and everything sounds positive - I think news on inward investment is obviously important as all good things in football today requires a massive amount of £££'s especially things like a new training complex. They intimated that the inward investment will be used for infrastructure.
I'm sure all of us hope this enthusiasm, positivity and business accumen translates to on field success but I get a feeling that with the new CEO and Artell, together with things moving on the investment side they feel they now have got all their ducks in a row so to speak to really push on.
They said player negotiations are going well so we can look forward to that soon.
My takeaway was the segment on the investment - paraphrased that it won't be spunked on the playing budget . Guessing it will go into BP, training ground and infrastructure?
Good to hear that the new money will go on the infrastructure side, hopefully the training facilities project is one of the developments that can now proceed with more pace.
Don’t think anyone mentioned infrastructure. Pettit said new capital would be used to build on the sustainable model - so that could mean anything.
True, but assuming it will be spent somewhere so if it’s not going on the playing budget not much else to spend it on other than the infrastructure. Pleased to hear that the money invested in the club to date will be transferred from loans to equity presumably ensuring we have no ongoing debts. Very positive news.
I certainly hope some of the new investment will be going towards the playing budget. After this season's disappointments and the frustrations of watching so many games where we couldn't hold the lead or score that second goal, I doubt any of us are anxious to find ourselves supporting the club with the best infrastructure in the National League!
True, but assuming it will be spent somewhere so if it’s not going on the playing budget not much else to spend it on other than the infrastructure.
Maybe so but worthwhile trying to avoid the typical scenario we see on here where the board get battered for not delivering something they’ve never said.
I know the inks not dry on it but raising the investment will be a big tick in the box for me . Maybe incorrectly I was skeptical it would be possible to get others on board willing to donate /meet their criteria as individuals but it looks like they have now done that .
I think we can look forward to 'continuous improvement ' off the pitch and it will be interesting where a 'mid range budget ' and data led model takes us .
I certainly hope some of the new investment will be going towards the playing budget. After this season's disappointments and the frustrations of watching so many games where we couldn't hold the lead or score that second goal, I doubt any of us are anxious to find ourselves supporting the club with the best infrastructure in the National League!
Problem is if you chuck funds you've raised at it on wages then you either need to continue that, once you've spent the original investment - which creates debt. Or you have to cut your budget, neither is sustainable. You're either creating unsustainable debt or creating the conditions to yoyo up and down leagues as your budget goes up and down. There's no guarantee it even works, so you could just end up wasting the money. Like Colchester who i think are now around 19million in debt and struggling in L2..
Now where that could be different is player acquisitions, so for example Conteh was an investment which we've seen a return on. Doesn't take a genius to work out if you can keep spending £100k and selling for £300k you can keep reinvesting that 'new' money.
Personally think it's far better getting more people involved and more expertise and support at board level, coupled with improving the club off the pitch and with facilities that improve us on it - training ground etc. It's about giving a Manager the tools to attract players and make them successful rather than just chucking money at players that have only come for money etc.
There are two types of successful clubs - debt ridden one's which ultimately can lead to issues further down the road when the music stops. Or well run, financially viable that have built up over a period of time to a specific model (comparing your Chelsea's to your Brightons/Brentfords) I much prefer the latter way. Not only is it just wise business sense it means you can absorb any downturns or shocks better (i.e another ITV Digital).
Crawley have shown this season that you don't need to throw stupid money at it to have a chance of succeeding. You can spend little money well or you can spend a lot of money badly.
Just on Mappers' point about Conteh, that model worked purely in terms of us getting a return on our investment (with potential for more to come). Probably lends itself more into the transfer window thread but wouldn't at all be surprised if we see another mini-coup type signing of that ilk this summer, buying a young player with a good pedigree who is probably just a bit impatient to get going at a higher level. Happy to be corrected but I don't think there's too many clubs who are doing that or have done it previously. certainly creates a little niche in the market for us moving forward and the more and better we do it, the higher calibre of player we'll be able to attract.
Problem is if you chuck funds you've raised at it on wages then you either need to continue that, once you've spent the original investment - which creates debt. Or you have to cut your budget, neither is sustainable. You're either creating unsustainable debt or creating the conditions to yoyo up and down leagues as your budget goes up and down. There's no guarantee it even works, so you could just end up wasting the money. Like Colchester who i think are now around 19million in debt and struggling in L2..
Now where that could be different is player acquisitions, so for example Conteh was an investment which we've seen a return on. Doesn't take a genius to work out if you can keep spending £100k and selling for £300k you can keep reinvesting that 'new' money.
Personally think it's far better getting more people involved and more expertise and support at board level, coupled with improving the club off the pitch and with facilities that improve us on it - training ground etc. It's about giving a Manager the tools to attract players and make them successful rather than just chucking money at players that have only come for money etc.
There are two types of successful clubs - debt ridden one's which ultimately can lead to issues further down the road when the music stops. Or well run, financially viable that have built up over a period of time to a specific model (comparing your Chelsea's to your Brightons/Brentfords) I much prefer the latter way. Not only is it just wise business sense it means you can absorb any downturns or shocks better (i.e another ITV Digital).
I'm sure we can all see your points and agree to a large extent, but Brentford and Brighton have had many millions pumped into them and they needed kick starts to start their journey from the lower leagues. Let's not kid ourselves that a model (that so many other clubs also say they are following) will work without being able to have the money to attract the right players in the first place.
It's not just a case of wasting the money as unless you make a complete horlicks of it as players can be sold on.
There is no danger whatever these owners will put us in any financial danger, but that doesn't mean every signing will have to be under the radar, an unknown that ticks the sustainability model.
I'm sure we can all see your points and agree to a large extent, but Brentford and Brighton have had many millions pumped into them and they needed kick starts to start their journey from the lower leagues. Let's not kid ourselves that a model (that so many other clubs also say they are following) will work without being able to have the money to attract the right players in the first place.
It's not just a case of wasting the money as unless you make a complete horlicks of it as players can be sold on.
There is no danger whatever these owners will put us in any financial danger, but that doesn't mean every signing will have to be under the radar, an unknown that ticks the sustainability model.
I would argue we have injected monies already into the playing budget. Look at how much Jason and Andrew have put in over three years. Fees paid for players (Conteh just one example) and budgets seen to be more competitive than before and not scared of longer contracts to attract players. I think the notion (from some) that we haven't invested on the playing squad is just wrong. The level of how much of that you do is my argument.
I would argue we have injected monies already into the playing budget. Look at how much Jason and Andrew have put in over three years. Fees paid for players (Conteh just one example) and budgets seen to be more competitive than before and not scared of longer contracts to attract players. I think the notion (from some) that we haven't invested on the playing squad is just wrong. The level of how much of that you do is my argument.
But you have also got to remember what we've spent so far enabled us to finish 4th bottom of the 4th tier.
Most of us are delighted to have these owners on board including me but it is an interesting discussion as personally I think players hold all the aces and it is a fact of life that they do cost a lot of money regardless of any model of sustainability.
The owners are converting debt to shares. A move that needs to be applauded, doesn't burden the club with huge debt to an owner and really shows positive intent, it is the best thing for the club. The huge debt to Fenty allowed him to control and threaten through fear he'd pull the plug.
Probably part of the reason we will see new investment. We don't know who these investors are yet, but it makes a massive change from years of suggestion that nobody wants to invest in the club.
But you have also got to remember what we've spent so far enabled us to finish 4th bottom of the 4th tier.
Most of us are delighted to have these owners on board including me but it is an interesting discussion as personally I think players hold all the aces and it is a fact of life that they do cost a lot of money regardless of any model of sustainability.
It's not a criticism just an observation.
In a way though last seasons poor performance underpins their idea that just injecting capital into a playing budget doesn't always correlate with relative success ; obviously there are one's with heavy investment who did well- the top 3 are the obvious one's but they also have decent infrastructure with relatively long term managers for these times .
But for every Mansfield , Wrexham and Stockport there is a FGR , Salford and Colchester who seemingly sink a lot of cash into it without much reward or even disaster .
I suppose the question is : can you do significantly better with average resource , the data ,cute recruitment , a good manager? , solid ownership and improving infrastructure without sinking a load of cash in on the playing side ?
It's one that we can't answer yet in our case ,as the process has hardly started but at least it's a direction of travel of which we didn't see for the previous 20 years .
But you have also got to remember what we've spent so far enabled us to finish 4th bottom of the 4th tier.
Most of us are delighted to have these owners on board including me but it is an interesting discussion as personally I think players hold all the aces and it is a fact of life that they do cost a lot of money regardless of any model of sustainability.
It's not a criticism just an observation.
It's not just what you spend, it's how you spend it.
Stockport and Wrexham have spent big, and been rewarded for it. Equally, FGR's accounts paint a picture of a team with a huge wage bill and they finished bottom of the 92 this season.
Barrow, Crawley and Wimbledon probably all had lower budgets than us. Crawley finished on 70 points in the last play off place and are now 90 minutes away from League 1. Barrow were a point behind them and Wimbledon finished on 65 points, so it really does come down to how you spend your budget.
The owners are converting debt to shares. A move that needs to be applauded, doesn't burden the club with huge debt to an owner and really shows positive intent, it is the best thing for the club. The huge debt to Fenty allowed him to control and threaten through fear he'd pull the plug.
Probably part of the reason we will see new investment. We don't know who these investors are yet, but it makes a massive change from years of suggestion that nobody wants to invest in the club.
Mike Parker was very keen on converting debt to shares. One of the reasons he was so annoyed with Fenty I think, when Fenty put his half of the cash in as loans, resulting in that spat about ownership, Parker dumping shares on the Trust, who were blackmailed into handing them to Fenty.
Improving playing and training conditions soon could be.a big factor in new player attraction.
The work on the Main Stand posts will help those supporters who have poor views.
Bringing in new investors will help reduce ongoing debt in a far better way than worrying about one person holding the strings.
None of these get 3 points on Saturday guaranteed, so any progress without on field guarantees shows a business like set up, rather than mad money being thrown at "star " players.
My own preference would be a team and squad who can be fit for 90 minutes, no long term injured signed players, no huge egos, and enough talent to play a good on the ground possession and passing game, hopefully at a faster pace than the last 46 games.
The Crewe game did come as a surprise to many people, as that potential actually showed up for once and was s treat to watch. Sadly, not provided often enough last season.
Bated breath waiting for page 100 on the transfer thread to start spitting signed names out !
But you have also got to remember what we've spent so far enabled us to finish 4th bottom of the 4th tier.
Most of us are delighted to have these owners on board including me but it is an interesting discussion as personally I think players hold all the aces and it is a fact of life that they do cost a lot of money regardless of any model of sustainability.
It's not a criticism just an observation.
Doesn't mean the amount you spent was too low, potentially just means that the manager spent it badly. Given that under Hurst we spent fees on Hunt, Green, Vernam, Conteh, Eastwood, Mullarkey and Rose, just how many of those could you qualify as a success? Rose definitely, Conteh definitely. But there's huge question marks over the others.
This thread has turned into an interesting discussion about the need to balance long term and short-term benefits, namely infrastructure and results. Both are necessary for success, and both require some investment. The better the facilities and the player support the more attractive the club will be for prospective players, but also players, quite rightly, will look after themselves and tend to sign for the club that offers them the best deal financially. So yes, absolutely we need to try to unearth those hidden gems, but we also need to be able to compete for some proven talent, and those players, especially the ones who operate at the top end of the pitch, come with a price tag. I've been reading the Fishy long enough to know that top of everyone's mind is always the latest result and performance on the pitch. I'm yet to see any comment after a disappointing result that takes much comfort in the fact that the training facilities are better than they used to be. I just hope we can get the balance right. Time will tell.
I think it's quite an interesting discussion on how clubs at this level make the best of the hands they have. For example unless you have a shed load of money, you aren't going to be competing with the clubs that are spending big amounts. Wrexham, Stockport etc, have an edge with the vast amounts they can spend. So if you realise that quickly, come to terms with it and don't try to compete you can then try and find ways to get an edge. You don't just give up cause of the gap in finances, you find other ways to do it - it isn't easy though.
Barrow have built a training ground in a very convenient location for players that don't live in the area. That's how they can attract players they maybe couldn't before and move some of the costs the players incur through travel as well as time lost in to the positive column.
Crewe pride themselves on producing young talent that can supplement their team at a smaller cost and then eventually move on for decent money to increase revenues to re-invest. That does however make it liable to be abit more of a cycle but is an 'edge'
I guess the theory is, if we can create the infrastructure and facilities some teams at this level don't have, coupled with fishing smartly in an ever increasing pond, buying, developing and moving on for profit - it will in time start to have an effect. The data we have access to isn't the magical answer on it's own, but it is more information than the majority of clubs in L2 and L1 and with better information we all generally in life make better decisions. Implementing a 'game model' I think also provides some continuity incase a manager leaves as well as it been a way to plan on how you progress. Instead of what happens time and again at this level. Manager leaves, another one comes in, doesn't fancy the team - the club then spend 18months cycling players out with new ones costing a fortune, just to repeat again in 2/3 years if they haven't got lucky. It works sometimes - and doesn't in others (Scunthorpe, Colchester and many many more) That's how we want to create our edge.
I am still however convinced that the long term aim for Jason and Andrew is to get us fit and proper on and off the pitch, up a league or two and hope a bigger investor fancies the look of us because of the low debt and high infrastructure (both physical and process/staff etc) in place over other L1 clubs that have the debt and very little else to show for it other than a league position. There always has to be some speculating to accumulate however they have done that in a way that isn't, from the outside, unsustainable and liable to leave us in danger if the music stops.
If you have a wider interest other than Town there is a very good interview with the Stockport owner , about how they are trying to do it - long term sustainability is an aim but they have used capital to get to league one . It's an interesting listen .
This may have already been posted but I would imagine turning the loans into equity is an enabler for new investors coming in. Nobody would want to invest in a company with too much debt on the books.
"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
Is it possible that the local Council could be one of the new Investors, but not by throwing money at the club, but providing the land and facilities for a new training ground?
Is it possible that the local Council could be one of the new Investors, but not by throwing money at the club, but providing the land and facilities for a new training ground?
It is possible, but I wouldn't bet on it.
You can please some of the forumites some of the time but not all the forumites all of the time
Is it possible that the local Council could be one of the new Investors, but not by throwing money at the club, but providing the land and facilities for a new training ground?
Doubt it that lot can’t make decide on tea and coffee at the meetings and now it’s hung they will be spending most of the time arguing about the biscuits
The council hasn't got a pot to urine in, just like every council across the country, so no chance of investment from that direction.
They are, however, being told to sell off any stuff they own, so I suppose it's feasible that if they had a suitable plot of land, this might be available - for the right price. Not sure exactly what land the council might own, however.
The council hasn't got a pot to urine in, just like every council across the country, so no chance of investment from that direction.
They are, however, being told to sell off any stuff they own, so I suppose it's feasible that if they had a suitable plot of land, this might be available - for the right price. Not sure exactly what land the council might own, however.
The Council publish a list of all the land and buildings they own -
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