Fenty Resigns!!!

Quoted from EvilFish

We never went in to admin because most of the money we owe is to Fenty. Do you really think he'd put us in to admin and pay himself back 10p in the pound?

Could that possibly be because Fenty paid all the bills?

Would we survive a Wrexham?

No Robbie Savage with his long locks to help bail us out...

Quoted from AdamHaddock

Bloody hell. There I am, blissfully indulging myself in CSI Miami and a Toffee Crisp - only to take one look at the Fishy and find that we're still up sheet creek but without the paddle of Fenty's chequebook. Those of you celebrating had better know something about an imminent takeover.

I accept we're in the conference due to his continuously poor judgement but his wealth has provided life support to the club since the tax debt came along.

The clouds over BP seem just a little bit darker tonight  

some people dont see the bigger picture, like who is stupid and rich enough to take on grimsby town..

first its like yesss fenty has left and then reality sets in and then they think intercourse who is coming in then to take it on..

if mike parker is not waiting in the wings then i really fear for us, i really do..

Quoted from Devonmatt

Could that possibly be because Fenty paid all the bills?

No. He pumped in cash to bail his blunders. Look at the accounts. Fall in gates, fall in TV revenue as we dropped down the leagues but he threw more and more cash at excrement players out to grab a free pay-off. We had the income to clear the tax debt ages ago - we made good money from the play-off final, Spurs, Newcastle and then more with the Wembley visit  - as well as numerous other occasions. But we drunk it all away.

Club's have done better than us with far less money without chalking up excessive debt. That's not excusing those that have - but I'm comparing us with those that haven't.

Isn't it obvious the real reason why Fenty has resigned???

He didn't want to suffer the humiliation of being voted twit of the week on the fishy for a third week running.

the wage bill in 04/05 was £1.3m, the wage bill in 09/10 was £1.8m

ridiculous budgets set by an incompetent chairman

write off your loans, mr fenty, and let the club move forward

Quoted from EvilFish

No. He pumped in cash to bail his blunders. Look at the accounts. Fall in gates, fall in TV revenue as we dropped down the leagues but he threw more and more cash at excrement players out to grab a free pay-off. We had the income to clear the tax debt ages ago - we made good money from the play-off final, Spurs, Newcastle and then more with the Wembley visit  - as well as numerous other occasions. But we drunk it all away.

Club's have done better than us with far less money without chalking up excessive debt. That's not excusing those that have - but I'm comparing us with those that haven't.

My apologies.  Here was me thinking that was a managers decision!

No one is suggesting Fenty is blameless for any of the decisions that have been made over the last decade.  I hope as much as anyone that the future is bright.  My fears are considerably different.

UTM

This is very sad news imho.  Clearly something happened whilst MP was on the board (briefly) i think JF wanted him on the board but for me i think the other 2 directors had something to do with it, something tells me MP is not the only one who will be investing in the club lets just say a gut feeling, or is it that vindaloo i had last night   , does MP have the power to remove directors in favour of people he knows?  I can understand were JF is coming from i mean MP has not been in contact or JF cannot get hold of MP, yet MP's investment was to do with shares not surplus cash meaning MP would me the major shareholder yet is not on the board and i think from a business point of view you cant work like that.  MP needs to make a statement regarding this its like the owner of a business jacking off to some other part of the country yet leaving everything in the hands of someone who cant really make the decisions as its not his business (well something like that).

Seeing as I have been arguing on here for ages that JF should step aside I would be a hypocrite not to be pleased with the news.

Nothing personally against Fenty and I have a lot of respect for the way he has bankrolled the club, but like others have said the mess is really of his own making. He has had the opportunity to stand down ever since MP came on the scene. Perhaps this has been forced on him now or perhaps he sees a face saving moment.

Whatever the reason, it doesn't matter. What matters is the future.

Whoever takes over when this is sorted out must -

- guarantee the financial stability of the club
- come up with a viable plan for the future
- bankroll the managers to improve the squad for a promotion push this year if possible and next year as a minimum requirement
- get the fans and the community on board with some good PR straightaway

Thank you JF, you may have made your bravest and best decision as chairman of the club.

UTM

Quoted from MuddyWaters

I'd say that it was the most important reason (amongst others) that has stopped me going.

put your money where your mouth is and turn up tomorrow them