Mariner's Trust

I'm somewhat unsure as to the influence and therefore what difference the good men of the Trust board will achieve with a seat of the board of GTFC as the football club is ran by JF and JF alone. His word is King, some will say rightly so given that it is his money (or his loans) that continue to keep the club going IN ITS CURRENT FORM.

I was on the board of the Trust before my resignation in the summer. I still fully support the Trust and the board thereon. However, I was left frustrated reading the circular that was emailed to members.

It's about a year since the Trust were gifted the shares and about a year since JF made all the noise about the club running out of funds. The threat of administration loomed and the men on the Trust board worked hard to negotiate with JF about how a resolution could be found to guarantee funding of the Football clubs budget shortfall. The way I saw it was that we were trying to find a way to get JF to put in the money he had promised he would, while JF was of the opinion that MP had broken his agreement and therefore JF's pledge was null and void. Whatever. I voted against gifting the shares to JF as the offer stood. We weren't actually getting anything in return as far as I could see. While I wanted concessions there and then for the gifting of the shares (triggers set in place for the award of a seat on the Clubs board was one of them), others on the (Trust)board took about a slightly different approach. Their patience would appear to have been paid off and in doing so they have achieved what appears to be a trusting and solid relationship with JF, that could well be advantageous into the future. Without this relationship, I doubt the bars would have been placed under the stewardship of the Trust.

The problem I have with this arrangement, is that the agreement was that JF had promised to make up the budget deficit for the next 18 months (starting last February), and would include the Trust FULLY in setting future budgets. The problem I had with such a statement then remains the same now,: what IS that shortfall and how would any funds put into the club by JF over that period me put in (loans, gifts, share puchase etc), we never actually got an answer.

Now it would seem that player sales has bridged the gap (as I had indeed suspected it would). What this means is that JF was gifted 200,000 shares in return for goodwill.

Is goodwill worth the 200,000 in shares? Possibly. Possibly not.

You may well ask why this matters now. It matters now (to me) because it matttered then (to me).

There is no doubt that we have to find a way to fund the football club without relying on an individuals loans. It has to be ran sustainably. We have to stop spending more than we earn. Its a no brainer in my opinion.

The Mariners Trust is fronted by hard working men. Some with fantastic relevant experience, others driven by knowledge of the world in general and the passion of GTFC. They have a patient, mature head and a sensible conservative financial grasp on things. I often dont agree with their decision making, the way they go about things. Id argue that they arent demanding enough, dont ask the awkward questions and a s a reuslt progress is slow and usually a compromise too far. But they are just my opinion, my frustrations. Others will disagree with me, and see that the progress they have made is worth compromise and patience. Its all about opinion.

Greater numbers will give greater influence I am sure. I strongly believe the Trust board needs new blood, people who will ask the awkward questions internally and publicly, without fear or apprehension. The Trust won't ever appeal to everyone. But if you believe in the philosophy of the Mariners Trust, if you can share some of their written aspirations, then if you can join, you should.

1 pound a month ? Jees that is fuk all. Will do it online later..

For my part any faith or support I had for the organisation (I use the word loosely) disappeared when they rolled over and gave the one asset they had to Fenty for nowt.

The day the 'seat on the board' proves to be anything more than sharpening the pencils and making the tea let me know.

Quoted from jointhetrust

Ok; i will rise to the bait here.
We carried out a ballot of all trust members to decide- are you suggesting that either that was the wrong thing to do, OR that we should have then ignored the result of the ballot?

Yes I am! In fact I am saying that there shouldn't have been a ballot in the first place!  The idea of gifting the shares to JF was unthinkable and the situation demanded leadership from the Trust Board!  There was absolutely no way the Club would have been put into admin - it was a bluff. Furthermore if Fenty's loans are "benign" as he puts it he could have awarded himself 200,000 shares and written off £200,000 of debt.  If he chose not to do that we should have just stopped negotiating and told him to take a running jump.  Now the cheeky sod wants £30,000 a year!!

Typed 2 replies can't even be bothered to post them cos of the finger pointing.

I don't see any problem with the trust financing the club with £30,000 a year - if it's possible to raise it. I'm a member of the trust, but must confess I have absolutely no idea about the structure of the trust, their finances, and haven't really done anything since sending of the membership form. But the way I see it is the trust is still a shareholder and the club needs financing in many different ways. What is the problem people have with the trust contributing to that if they are able to? Surely the point of the trust - as well as giving fans a voice in the running of the club, is to contribute to its health. Why would anyone think an additional 30k going into the clubs coffers is a bad thing? If the trust can raise this money, what else do people expect them to do with it?

For me there's no problem per se (though what happened to "supporters trust" i.e. doing things for supporters ?)

It's mainly just it aint working enough in it's current form to attract enough members.
We might get the 750 or maybe 1000 but enough to achieve part-sustainability year in year out ?
Sorry but you're having a laugh !

Until people stop moaning at people they perceive to always be moaning or be willing to criticize themselves I doubt anything will ever really catch on.
We can wrongly slag people off all we want on here but the fishy isn't the only "catchment area" so maybe the proof is in the pudding.
And yes I've joined.

Quoted from Chris

I'm somewhat unsure as to the influence and therefore what difference the good men of the Trust board will achieve with a seat of the board of GTFC as the football club is ran by JF and JF alone. His word is King, some will say rightly so given that it is his money (or his loans) that continue to keep the club going IN ITS CURRENT FORM.

I was on the board of the Trust before my resignation in the summer. I still fully support the Trust and the board thereon. However, I was left frustrated reading the circular that was emailed to members.

It's about a year since the Trust were gifted the shares and about a year since JF made all the noise about the club running out of funds. The threat of administration loomed and the men on the Trust board worked hard to negotiate with JF about how a resolution could be found to guarantee funding of the Football clubs budget shortfall. The way I saw it was that we were trying to find a way to get JF to put in the money he had promised he would, while JF was of the opinion that MP had broken his agreement and therefore JF's pledge was null and void. Whatever. I voted against gifting the shares to JF as the offer stood. We weren't actually getting anything in return as far as I could see. While I wanted concessions there and then for the gifting of the shares (triggers set in place for the award of a seat on the Clubs board was one of them), others on the (Trust)board took about a slightly different approach. Their patience would appear to have been paid off and in doing so they have achieved what appears to be a trusting and solid relationship with JF, that could well be advantageous into the future. Without this relationship, I doubt the bars would have been placed under the stewardship of the Trust.

The problem I have with this arrangement, is that the agreement was that JF had promised to make up the budget deficit for the next 18 months (starting last February), and would include the Trust FULLY in setting future budgets. The problem I had with such a statement then remains the same now,: what IS that shortfall and how would any funds put into the club by JF over that period me put in (loans, gifts, share puchase etc), we never actually got an answer.

Now it would seem that player sales has bridged the gap (as I had indeed suspected it would). What this means is that JF was gifted 200,000 shares in return for goodwill.

Is goodwill worth the 200,000 in shares? Possibly. Possibly not.

You may well ask why this matters now. It matters now (to me) because it matttered then (to me).

There is no doubt that we have to find a way to fund the football club without relying on an individuals loans. It has to be ran sustainably. We have to stop spending more than we earn. Its a no brainer in my opinion.

The Mariners Trust is fronted by hard working men. Some with fantastic relevant experience, others driven by knowledge of the world in general and the passion of GTFC. They have a patient, mature head and a sensible conservative financial grasp on things. I often dont agree with their decision making, the way they go about things. Id argue that they arent demanding enough, dont ask the awkward questions and a s a reuslt progress is slow and usually a compromise too far. But they are just my opinion, my frustrations. Others will disagree with me, and see that the progress they have made is worth compromise and patience. Its all about opinion.

Greater numbers will give greater influence I am sure. I strongly believe the Trust board needs new blood, people who will ask the awkward questions internally and publicly, without fear or apprehension. The Trust won't ever appeal to everyone. But if you believe in the philosophy of the Mariners Trust, if you can share some of their written aspirations, then if you can join, you should.

Fantastic post.  I shared the concerns Chris had, I felt at the time a (metaphorical) gun was put to the head of the Trust and the members democratically accepted the first offer they had. I felt that was wrong and still do. I think those who have negotiated to get to this point should be congratulated for their hard work. My personal opinion is that certain individuials at the club don't want the trust involved and keep putting roadblocks in the way.

Interestingly, down the road in Scunthorpe Steve Wharton has promised the Iron Trust a seat on the board once they get 300 members and he doesn't require an annual sum...

Quoted from BlackBoots

They may fail BUT at least they are getting of their arses and trying

Fair enough but pats on the back aren't of much help to the future of GTFC.

If the Trust can raise £30K a year then it should keep it and build up its own funds ready for the time when benign loans are suddenly not benign. Trusts need money and you only have to look at Darlington etc. to see why.

The club should not be putting targets up for the Trust to get a seat on the board, when other board members do not have to meet similar targets. Either give the Trust a seat using the same criteria as other board members and put it to a vote at the AGM or tell them to bog off, but don't ry and bleed them dry every time it lookds like they may be getting somewhere.

The Trust are not a threat, they want the same as everybody else and that includes the present board.