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 Marinerz93 |
| February 17, 2012, 8:34am |
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Fenty supposedly won't make additional funds available whilst 'control sits outside of the boardroom'.
By converting his loans into shares he would get the control he so obviously desires.
A positive side to converting loans into shares is that it looks better on the club accounts and has the potential to attract inward investment - something he basically just gives lip service to.
He could quite easily buy 200k of shares and then convert the necessary amount of loans into shares so that he gets the control he wants.
He appears reluctant to do so.
My opinion is that he is hedging his bets. If the club eventually goes to the wall as a creditor he will get some of this money back out of the club - as a shareholder he is likely to get zip.
If he had genuine belief in the future of GTFC then it shouldn't be a problem for him to convert loans to shares.
Instead he try's to bully the Trust into handing shares over to him.
Spot on post, the bit in bold I have said before that he could convert enough benign loan to gain control and still have all the club assets covered by whats left and it wouldn't cost anything more than he'd already spent. He has engineered this to place a covenant on the shares the trust has and how the trust does business. |
| Supporting the Mighty Mariners for over 30 years, home town club is were the heart and soul is and it's great to be a part of it.
Jesus’ disciple Peter, picked up a fish to get the tribute money from it, Jesus left his thumb print on the fish, bless'ed is the Haddock. |
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| Grim_Exile |
| February 17, 2012, 8:45am |
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BTW, I've just paid £15 and not ten to join. A piece of opportunism by the Trust?
Adult membership has always been £15 (or £12 if paid by standing order) - it's been that since the initial formation of GTST way back when. I really don't know where the figure of a tenner that some are quoting has come from.... |
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| Trawler |
| February 17, 2012, 8:51am |
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going back to the negotiating table gives jf summat to think about, and now the pressure is off somewhat, the trust board may well be able to get a better settlement. if we are to give up voting rights and shares then a place on the board should be a minimum. after all i find it difficult to believe that if chapman and elsom are suitable board members the same opportunity should not be given to the trust
For me Forza hits the nail on the head. Allowing The Trust a seat on the board in exchange should be the minimum quid pro quo, and surely it's no skin off Fenty's nose? If JF has majority control again then having a Trust dude on the board shouldn't make much difference to the way the cub runs. It's a win win - the Trust would have a demonstrable voice which would bring more members into the Trust's fold > which brings in more funds which - if the Trust see fit - can be used to help club expenditure. |
| "Pound for pound, and class for class, the best football team I have seen in England since the war. In the league they were in they played football nobody else could play. Everything was measured, planned and perfected and you could not wish to see more entertaining football." Bill Shankly, Manager GTFC 1951-54 |
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| Marinerz93 |
| February 17, 2012, 8:59am |
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For me Forza hits the nail on the head.
Allowing The Trust a seat on the board in exchange should be the minimum quid pro quo, and surely it's no skin off Fenty's nose?
If JF has majority control again then having a Trust dude on the board shouldn't make much difference to the way the cub runs.
It's a win win - the Trust would have a demonstrable voice which would bring more members into the Trust's fold > which brings in more funds which - if the Trust see fit - can be used to help club expenditure.
There is nothing to stop the trust giving JF 150K worth of shares then selling him 50K, it's all Elsom and Chapman have to front for all the freebies they get. |
| Supporting the Mighty Mariners for over 30 years, home town club is were the heart and soul is and it's great to be a part of it.
Jesus’ disciple Peter, picked up a fish to get the tribute money from it, Jesus left his thumb print on the fish, bless'ed is the Haddock. |
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| Trawler |
| February 17, 2012, 9:07am |
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There is nothing to stop the trust giving JF 150K worth of shares then selling him 50K, it's all Elsom and Chapman have to front for all the freebies they get.
Marinerz93 I agree. As a Trust member I would happily vote to give him 200,000, sell him 50,000 and then stick the money straight into GTFC's pocket IF it meant a seat on the board for The Trust. |
| "Pound for pound, and class for class, the best football team I have seen in England since the war. In the league they were in they played football nobody else could play. Everything was measured, planned and perfected and you could not wish to see more entertaining football." Bill Shankly, Manager GTFC 1951-54 |
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| Marinerz93 |
| February 17, 2012, 9:13am |
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Marinerz93 I agree. As a Trust member I would happily vote to give him 200,000, sell him 50,000 and then stick the money straight into GTFC's pocket IF it meant a seat on the board for The Trust.
I'm not a trust member yet but will be soon, Elsom apparently is a good host but what does he do to take the club forward. Chapman who is rarely there, especially in racing season has achieved what for Town. I believe the trust would be more proactive than any of the board members have ever been in taking the club forward. |
| Supporting the Mighty Mariners for over 30 years, home town club is were the heart and soul is and it's great to be a part of it.
Jesus’ disciple Peter, picked up a fish to get the tribute money from it, Jesus left his thumb print on the fish, bless'ed is the Haddock. |
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| Trawler |
| February 17, 2012, 9:19am |
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Fine Wine Drinker Posts: 1,312
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I believe the trust member would be more proactive than any of the board members have ever been in taking the club forward.
I agree. A Trust member would be massively proactive in intent - of course then that person would face the challenge of getting any Trust proposals agreed by a board of executives! |
| "Pound for pound, and class for class, the best football team I have seen in England since the war. In the league they were in they played football nobody else could play. Everything was measured, planned and perfected and you could not wish to see more entertaining football." Bill Shankly, Manager GTFC 1951-54 |
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| Marinerz93 |
| February 17, 2012, 9:23am |
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I agree. A Trust member would be massively proactive in intent - of course then that person would face the challenge of getting any Trust proposals agreed by a board of executives!
A radical move, why don't the trust give JF a BOGOF share option so that the trust sells 400K worth of shares to the value of 200K and two seats in the boardroom. |
| Supporting the Mighty Mariners for over 30 years, home town club is were the heart and soul is and it's great to be a part of it.
Jesus’ disciple Peter, picked up a fish to get the tribute money from it, Jesus left his thumb print on the fish, bless'ed is the Haddock. |
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| Trawler |
| February 17, 2012, 9:29am |
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Fine Wine Drinker Posts: 1,312
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A radical move, why don't the trust give JF a BOGOF share option so that the trust sells 400K worth of shares to the value of 200K and two seats in the boardroom.
If you throw in some nectar points too I'd bite your hand off. In truth I'd settle for one seat on the board. It would be a massive step in the Trust's short life, and a very good news story for the club in general. I would urge JF to consider this last point. Think of the positive spin if GTFC are seen to be a progressive club leading from the front on the issue of fan involvement with a Trust member on the board in an age where disgruntled fans of Rangers, Darlo et al are bemoaning the fact they have no representation while their club goes mammaries up. |
| "Pound for pound, and class for class, the best football team I have seen in England since the war. In the league they were in they played football nobody else could play. Everything was measured, planned and perfected and you could not wish to see more entertaining football." Bill Shankly, Manager GTFC 1951-54 |
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| cardiffmariner |
| February 17, 2012, 9:35am |
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Adult membership has always been £15 (or £12 if paid by standing order) - it's been that since the initial formation of GTST way back when. I really don't know where the figure of a tenner that some are quoting has come from....
Fair enough. Taken the tenner figure from the numerous times its been mentioned on here. Should know better than to take what's on here as gospel! |
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