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GTFC Huge loss

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Spiritater
September 10, 2010, 9:31am Report to Moderator
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Boys you need to get out of this league sharpish......the parachute payments will dry up the funding will dry up,the support will slowly diminish and unless you have a wealthy sugar daddy like Creepy you will be just like us (MTFC)  in 3 years time ie 'in the pooh' Good luck
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Paddymariner
September 10, 2010, 9:33am Report to Moderator
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Quoted from Denby


facts like these are really difficult to argue against  


Stay quiet Denby, you know that you're way out of your depth here. Stupid boy!  
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Denby
September 10, 2010, 9:36am Report to Moderator

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Quoted from Paddymariner
Stay quiet Denby, you know that you're way out of your depth here. Stupid boy!  


oops, right, i'm off.  there are some real economic boffins on here
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gingervalentino
September 10, 2010, 10:27am Report to Moderator

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I am not a financial boffin. All i care about is that I have my beloved football club and that we are winning games Forget all this financial mumbo jumbo, enjoy watching football and let all the finances get sorted out by the people whose job it is
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carrot top
September 10, 2010, 10:32am Report to Moderator

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Quoted from 935



THE ONLY FINANCIAL IDIOT HERE IS YOU. THERE IS THIS THING YOU SEE, CALLED INFLATION, AND THE WAY INFLATION WORKS IS IT MEANS THAT OVER TIME PRICES FOR GOODS AND SERVICES RISE, SO FIVE YEARS AGO THE COST OF 20 FAGS BY WAY OF AN EXAMPLE WAS 4 POUNDS, THEY NOW COST 6 POUNDS, WAGES RESPOND TO THIS.


PTB, you should check your figures before posting a statement like this.
Inflation over the last 5 years in the UK has averaged 2.8%, which would mean if wages at the club went up in line with inflation from £1.3M they would now be £1.5m. Football is a strange business and inflation has very little to do with wages within it.
As for telling people to work harder, it is you that is the financial idiot.


[color=black]The Ecky 1977
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moosey_club
September 10, 2010, 11:30am Report to Moderator
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Quoted from Lord Sommet
Three questions I asked Fenty earlier today:

1.What are the club doing to minimize costs given we are continuing to lose on average 500k a year?

With football fortune, we will not lose as much and could make a profit particularly if we were successful in a cup run. We have projected 6 to £700 thousand pounds loss for the coming season. But of course the danger this could get worse if we don’t meet budget because of personnel changes and fitness.

3. What would happen/what securities are in place if the bank loan was to be recalled given we are in financial mess?

The Bank is asking for our overdraft to be replaced by a repayment schedule something we are resisting; I suspect the Bank will achieve this in part. They are fully secured by a 200k personal guarantee from me and the rest on Blundell Park. Do not like it, but that’s the banking world right now hence this is alluded to in the accounts.

You say ‘mess’ but we have not committed the club to funding exposure that we will not stand by, we are proud that this club has never been into administration.



Very interesting and in my opinion slightly deluded answers,

his denial to being in a mess does not really stand up just because they have projected a loss, and have said they will cover the debt. John Fenty started the cost cutting at this club several years ago, as he rightly identified there was too much outgoing for survival, has this cost cutting achieved parity in the accounts....would certainly appear not, have these measures stabilised the finances of the club.....would appear not......have these measures improved our on pitch strength and league presence.......no. Have the measures to date enabled us to survive, well we are still here so yes. Did his financial plan for restructuring of the club aim to have us losing 500,000 - 700,000 per season.....well not sure what we were losing prior to his restructuring but it must have been an awful f\/cking lot if the current prediction is an improvement.
The most comical and worrying factor though, considering he is a businessman, is his lack of responce to the first question, what are you doing to minimise the costs of the club with the current year on year losses.......hoping for a cup run!!! FFS. I would have been slightly more reassured if he had said "well i buy a lottery ticket every week, sometimes two when its a rollover"  

While always supporting JF as he has flushed plenty of his own money on Town the last couple of seasons have seen some odd strategies and statements from him. Hopefully Mike Parker can take some of the strain and add another perspective to the financial plans of the club.




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Southfields_Mariner
September 10, 2010, 12:21pm Report to Moderator
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I can't quite believe Fenty is getting stick in here.

Yes, we would like the club to be profitable and better on the pictch and yes he has had a part to play in this, but at the end of the day he is making sizeable financial contributiions to keep the club afloat. He deserves credit for this at least.
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scrumble
September 10, 2010, 1:25pm Report to Moderator
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A review of the comments on this board over the last few months.

"Ticket prices are too high, it's ridiculous for non-league"

"Fenty should spend more money on players"

"Dave Moore as physio is just  a cheap option to save money. Booo"

and now in this thread we have

"We need to make more cuts to make the club financially sound"

So the club needs to reduce its income, throw money at players, but also reduce its expenses. Even Gordon Broon would struggle to blag his way through that.


Byddwn ond yn canu pan fyddwn yn pysgota
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BIGChris
September 10, 2010, 1:44pm Report to Moderator
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Quoted from scrumble
A review of the comments on this board over the last few months.

"Ticket prices are too high, it's ridiculous for non-league"

"Fenty should spend more money on players"

"Dave Moore as physio is just  a cheap option to save money. Booo"

and now in this thread we have

"We need to make more cuts to make the club financially sound"

So the club needs to reduce its income, throw money at players, but also reduce its expenses. Even Gordon Broon would struggle to blag his way through that.


Very true!
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sonik
September 10, 2010, 1:55pm Report to Moderator

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Quoted from scrumble
A review of the comments on this board over the last few months.

"Ticket prices are too high, it's ridiculous for non-league"

"Fenty should spend more money on players"

"Dave Moore as physio is just  a cheap option to save money. Booo"

and now in this thread we have

"We need to make more cuts to make the club financially sound"

So the club needs to reduce its income, throw money at players, but also reduce its expenses. Even Gordon Broon would struggle to blag his way through that.


Very very true!   Words fail me at times like this.  I really can't be bothered to reply to most on here lately and read the forum daily.  We have a club to support and hopefully one on the up at last.  By god does John, Mike and others deserve some luck and footballing fortune to help on the way.

Onwards and upwards.  UTM!!


The Futures Bright Its Black And White!
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