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KingstonMariner |
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Meths Drinker
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So you own Tesco / Asda etc ?
If the supermarket model was relevant in this case then no sodomist would bother going to see Grimsby Town because the value for money is shite in a purely commercial sense. Quite apart from many supporters individually owning shares and collectively owning shares via the Trust, supporters (including John Fenty) have a moral ownership of the club.
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| Through the door there came familiar laughter, I saw your face and heard you call my name. Oh my friend we're older but no wiser, For in our hearts the dreams are still the same. |
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KingstonMariner |
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Meths Drinker
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Do cricket fans own their club ? Do rugby fans own Their club ?? Just because you shop at Tesco does that mean you own them too ??
He Owns it , lock stock and barrel !!!! Along with whoever else has money tied up in the club !
Oh, and in many cases they do own their club.
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| Through the door there came familiar laughter, I saw your face and heard you call my name. Oh my friend we're older but no wiser, For in our hearts the dreams are still the same. |
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TAGG |
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Vodka Drinker
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I think John is right not to post on this forum (and I understand he won't read this), but I think he should still visit the site. Unfortunately, there will, always be an 'ouch' when he does read some of the comments, but there are a lot of very good posters on here, that I believe are close to the belief of GTFC supporters in general, in terms of how to progress upwards.
IMO he will read the fishy again after few schooners one weekend after another home defeat and he wont be able to resist when hes had one or two more he will get mardy and either post or get the fishy shut down again.
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| In his three stints as Grimsby Town manager spanning over 10 years the club was never relegated and he also guided them to three promotions. Only 14 managers have reached 1,000 matches in charge of a Football League team by 1998 and Buckley is one of them. GOD |
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BIGChris |
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Just to clarify (at least how I remember it): Mike Parker gifted the Trust 500,000 shares (face value £500,000) which made them the major shareholder. The Trust were not represented on the Club Board. John Fenty said he couldn't continue to support the club when control rested outside the boardroom. The Trust board thought about it and decided to put it to a vote of all Trust members. The Trust membership voted about 70:30 in favour of gifting 200,000 shares to John Fenty which would make him the major shareholder again. I think there were some strings - continued financial support for the Club by JF and some consultation with the Trust over budgets (I think the hope was to get the club to balance the books over a few years to prevent us getting into more debt).
A reasonably accurate recollection of events KM. Mike Parker retained,( & still does to my knowledge) in round figures, £500k of shares but his holding PLUS the Trust holding of approx £535k meant that control lay outside the boardroom. The club needed a cash injection to meet regular commitments I.e. Wages etc. The Trust were not in a position to inject cash and Mike was not interested in doing so. JF had cash but wouldn't do so because, in theory at least, the Trust acting in cahoots with Mike Parker had enough voting powers to remove him within 28 days by calling an EGM. It is not unreasonable (IMO) that if you are to invest cash that you want a degree of control. Would anybody really expect to invest without a say? A proposal was negotiated that in return for transferring £200k of shares from the Trust to JF, he would also invest a further £200k in cash by buying shares. This is often forgotten in that JF did receive the shares but critically the club received a cash injection of £200k too. From memory JF now owns something in the region of 46% of the club shares Mike Parker 20%+ and the Trust 13%. The remainder is in the hands of (mostly) individual fans The vote was something like 84% in favour of the proposal. Some said the Trust should have called JF's bluff. The membership decided otherwise. The Trust ( in its current form)at that stage was in its infancy and certainly not in a position to play Russian roulette with the clubs very existence within a couple of months of being relaunched. Most know I am no longer part of the Trust board but I remain totally committed to the fans, through a properly constituted Trust, having a major say in the running of their club. I will always try and answer any questions as honestly and openly as I can UTM
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MuddyWaters |
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A reasonably accurate recollection of events KM.
Mike Parker retained,( & still does to my knowledge) in round figures, £500k of shares but his holding PLUS the Trust holding of approx £535k meant that control lay outside the boardroom. The club needed a cash injection to meet regular commitments I.e. Wages etc.
The Trust were not in a position to inject cash and Mike was not interested in doing so.
JF had cash but wouldn't do so because, in theory at least, the Trust acting in cahoots with Mike Parker had enough voting powers to remove him within 28 days by calling an EGM.
It is not unreasonable (IMO) that if you are to invest cash that you want a degree of control. Would anybody really expect to invest without a say?
A proposal was negotiated that in return for transferring £200k of shares from the Trust to JF, he would also invest a further £200k in cash by buying shares. This is often forgotten in that JF did receive the shares but critically the club received a cash injection of £200k too.
From memory JF now owns something in the region of 46% of the club shares Mike Parker 20%+ and the Trust 13%. The remainder is in the hands of (mostly) individual fans
The vote was something like 84% in favour of the proposal.
Some said the Trust should have called JF's bluff. The membership decided otherwise. The Trust ( in its current form)at that stage was in its infancy and certainly not in a position to play Russian roulette with the clubs very existence within a couple of months of being relaunched.
Most know I am no longer part of the Trust board but I remain totally committed to the fans, through a properly constituted Trust, having a major say in the running of their club. I will always try and answer any questions as honestly and openly as I can
UTM
Thanks for such an up-front reply. I have my own opinion of how this was handled and I'm sure others have their own.
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monkeyboy |
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so what real financial part do the rest of the board play? Surely they should consider their roles in the club and maybe try to offer roles to the likes of the ross family as well respected business people with a bit of clout.
I like JF by the way, shrewd man but cannot do it all his self even if he likes it that way.
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Teestogreen |
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so what real financial part do the rest of the board play? Surely they should consider their roles in the club and maybe try to offer roles to the likes of the ross family as well respected business people with a bit of clout.
I like JF by the way, shrewd man but cannot do it all his self even if he likes it that way.
Exactly - progress being made here tonight I feel. I am unable to find out on GTFC website who the shareholders are and how many shares does anyone hold. There needs to be a transparency in this respect imo. (Not that moi is going to be saviour, but a.n.o. may have an inkling how to offer an improved way forward, as an alternative to the current way forward). UTM
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Marinerz93 |
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A reasonably accurate recollection of events KM.
Mike Parker retained,( & still does to my knowledge) in round figures, £500k of shares but his holding PLUS the Trust holding of approx £535k meant that control lay outside the boardroom. The club needed a cash injection to meet regular commitments I.e. Wages etc.
The Trust were not in a position to inject cash and Mike was not interested in doing so.
JF had cash but wouldn't do so because, in theory at least, the Trust acting in cahoots with Mike Parker had enough voting powers to remove him within 28 days by calling an EGM.
It is not unreasonable (IMO) that if you are to invest cash that you want a degree of control. Would anybody really expect to invest without a say?
A proposal was negotiated that in return for transferring £200k of shares from the Trust to JF, he would also invest a further £200k in cash by buying shares. This is often forgotten in that JF did receive the shares but critically the club received a cash injection of £200k too.
From memory JF now owns something in the region of 46% of the club shares Mike Parker 20%+ and the Trust 13%. The remainder is in the hands of (mostly) individual fans
The vote was something like 84% in favour of the proposal.
Some said the Trust should have called JF's bluff. The membership decided otherwise. The Trust ( in its current form)at that stage was in its infancy and certainly not in a position to play Russian roulette with the clubs very existence within a couple of months of being relaunched.
Most know I am no longer part of the Trust board but I remain totally committed to the fans, through a properly constituted Trust, having a major say in the running of their club. I will always try and answer any questions as honestly and openly as I can
UTM
The question that JF will flatly refuse to answer unless it is behind closed doors on a one to one, is how the situation arose in the first place that the boardroom allowed MP, who at the time was no longer a director to buy the extra £500k of shares, knowing that control would then be outside the boardroom. JF £500k worth of shares MP £1M worth of shares, it's simple maths. JF could have matched MP and we wouldn't have had the chaos that ensued, down side is the trust wouldn't have had the shares donated. The only good thing that came out of it was that the trust got in the boardroom however, at cost of £200K worth of shares when the other directors hold how many shares and will put up how much money up? I would say that is madder than JF claiming he is some sort of lunatic, then he wonders why no one with cash with play with him. MP had invested £500k, a bit cheeky asking for more don't you think, especially as other money promised didn't materialise. JF got £200k worth of shares off the trust and bought £200k worth of shares so effectively getting £400k worth of shares for £200k. MP bought £500k worth of shares off the bat.
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Nelly GTFC |
January 10, 2015, 12:50am |
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I'm sure that there are people who would take the club on if that where the case.
Did we ever have anyone willing to take over the club when we was in the old Division 2 / Championship? I just don't think we would ever be something that would be attractive, unless we could break even at least, or some tycoon took over. I seem to remember a consortium lead by Ivano Benetti with some other Italians tried, but it was turned down. Just found an article.
Quoted from The Cow Shed | 16th March 2005
A consortium looking to take control of Grimsby Town wanted Bonetti to take over as manager at the club, and it was Pat Nevin that Ivano asked to become his assistant at Blundell Park.
As it happened, the move fell through, though the pair still hope to work with each other one day.
Link >> [url=http://www.thecowsheds.co.uk/index.php?option=com_content&view=article&id=92:series-i-ivano-bonetti&catid=40:where-are-they-now&Itemid=67] Click here[/url]
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| Performance / Top Scorers / Assists / Discipline - Grimsby Town Statistics >> [url]https://www.espn.co.uk/football/team/squad/_/id/386/eng.grimsby[/url] Form Over Last 10 Games - Grimsby Town >> [url]https://www.footballwebpages.co.uk/grimsby-town/form-guide/ten[/url] Player Contracts - Grimsby Town >> [url]http://codalmighty.com/site/ca.php?article=4202[/url] Links on football clubs inc Grimsby Town >> [url]https://footballclubforums.com/[/url] |
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MarinerWY |
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I think that the size of that fraction is they key issue for anyone who will want to take the club over.
But why would JF just write off his loans? O'm not sure about the expectations of some to be honest... JF can't really be criticised for wanting at least part of his loans (clue in the word!) back if he were to hand over control of the club...
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