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Is there a price ??

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sackthemascot
January 10, 2018, 7:56am Report to Moderator
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For JF and RS to leave the club forever ??

Surely a crowd funding page or organised events could start the ball rolling.

I've not actually met anyone who wants them here (apart from delighted Scunny fans!!) so there would be plenty of donations.

Nothing personal, just a buyout.


Absolutely nothing to do with former legend of the Fishy, Sacktheboard  
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headingly_mariner
January 10, 2018, 8:02am Report to Moderator

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Quoted from sackthemascot
For JF and RS to leave the club forever ??

Surely a crowd funding page or organised events could start the ball rolling.

I've not actually met anyone who wants them here (apart from delighted Scunny fans!!) so there would be plenty of donations.

Nothing personal, just a buyout.


The fans can not afford a buy out. For a fan run club Mr Fenty would have to write off his debt or put the club into Admin.  
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1mickylyons
January 10, 2018, 8:16am Report to Moderator
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Quoted from sackthemascot
For JF and RS to leave the club forever ??

Surely a crowd funding page or organised events could start the ball rolling.

I've not actually met anyone who wants them here (apart from delighted Scunny fans!!) so there would be plenty of donations.

Nothing personal, just a buyout.


D`ya  know any Yanks with deep pockets?
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WOZOFGRIMSBY
January 10, 2018, 9:32am Report to Moderator

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Quoted from 1mickylyons


D`ya  know any Yanks with deep pockets?


Never been to America. But I've been in some states!


#ValentinesDay

Roses are red,
Violets are blue,
I support my local football club,
And you should do too
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LondonMariner43
January 10, 2018, 1:19pm Report to Moderator
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I imagine it's about £2 million quid.  So equivalent to 20 operation promotions.  Not very likely.

This is why the whole Fenty out thing is pointless.  He is not going to go so we'd be far better backing the Trust to work with the Board on building unity between club and fans.  The current atmosphere is doing nothing other than driving down morale and losing money for the club.

Ironically, fans staying away will require directors to put in more of their own money, making the club more dependent on Fenty and co.
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Ascend
January 10, 2018, 2:21pm Report to Moderator
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Quoted from LondonMariner43
I imagine it's about £2 million quid.  So equivalent to 20 operation promotions.  Not very likely.



£2 million is merely the amount outstanding to repay John Fenty for his loan. According to the last published accounts to May 2017. That amount is a benign loan, whilst John Fenty remains the controlling director with his shareholding.

If somebody else wanted to come along to take a controlling interest in the club, it would be perfectly understandable that John Fenty would want his money back. Why wouldn't he? He hasn't loaned the club that money just for a new owner to come along and enjoy.

So that person or organisation would first of all have to reach an agreement to pay John Fenty back as a £2 million lump sum, or by way of a repayment schedule in instalments. If a new owner was hoping to pay this back in instalments, then he would have to come up with a really miraculous and sustainable plan to generate sufficient gross profit in order for the football club to start paying back its loans. But there is absolutely no signs of the club generating that sort of profit at the moment in order to do so, save for a huge slice of football fortune, which clearly cannot be planned for.

If you then look carefully at the published accounts, you will also see that in addition to his loans, Mr Fenty has provided financial guarantees amounting to £325,000. This will be security for the banks for which they will provide things like overdraft facilities. So when people criticise him and talk about his loan, they need to realise that his support goes much further than that. Essentially if the club was to fall over financially tomorrow, then John Fenty would be legally bound to personally cough up, to the tune of up to £325,000 in order to settle the companies bank account balances. In winding the business up, he would then have to try to recover that money by way of the sale of assets, for which he maintains fixed and floating charges over, so has first dibs on those ahead of any outstanding creditors.

But in respect of this £325,000 personal guarantee, whichever person or organisation that wishes to take over from John Fenty, not only has to have the ability to stump up to clear the loans, but they also have to have the personal ability to become a guarantor to the tune of this £325,000.

Moving on from there, this brings us to the matter of John Fenty's shareholding. These are totally and utterly not connected to his lending or security for the club. These are shares that he has had to obtain by whatever means, mostly by purchase. Remember that the club is a PLC, anybody can buy the shares. But in order for them to obtain a majority stake in the business, or an controlling interest, then they would need to obtain buy greater number of shares than what John Fenty owns. Presumably by purchase, remembering that John Fenty really doesn't have to sell his shares either. So that could be a seriously large investment in order to surpass the shareholding of John Fenty and the other shareholders in order to reach a level of controlling interest.

Maybe John Fenty would have an appetite to dispense with his shares at a hugely discounted price, if he was going to recover his loans and be relieved of his security. And if he could be confident that the person taking over has what is needed financially to take the club forward. Who knows? Maybe not! He may wish to recover the cost of his shares too, or at least what is deemed as their current value.

But considering all of this, if John Fenty isn't convinced that a new person or organisation doesn't have the wealth to bring anything to the club that he cannot himself, then why the hell would he move aside. Especially when you consider that this is the club he loves, that he supports, and that he is financially quite comfortable with his existing exposure.

It is only when you start breaking it down that you start to realise people, that whilst some seek to paint John Fenty as the villain, that he is actually the only real bit of cement between the ailing bricks that is giving you a football club to follow. No matter whether you like that or not, it is the true facts of the matter.

I would imagine that if I was in John's shoes, I would be looking for:

1. my £2 million back.
2. being relieved of the need for me to provide £325,000 of personal guarantees.
3. recovering the cost of my shares or at least some value for those shares.
4. a new owner that I know would be in the positive interests of the club, with something extra to bring to the table.


If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,

Paul Hurst
BE CAREFUL WHAT YOU WISH FOR
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OneLove
January 10, 2018, 2:37pm Report to Moderator
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Quoted from Ascend


£2 million is merely the amount outstanding to repay John Fenty for his loan. According to the last published accounts to May 2017. That amount is a benign loan, whilst John Fenty remains the controlling director with his shareholding.

If somebody else wanted to come along to take a controlling interest in the club, it would be perfectly understandable that John Fenty would want his money back. Why wouldn't he? He hasn't loaned the club that money just for a new owner to come along and enjoy.

So that person or organisation would first of all have to reach an agreement to pay John Fenty back as a £2 million lump sum, or by way of a repayment schedule in instalments. If a new owner was hoping to pay this back in instalments, then he would have to come up with a really miraculous and sustainable plan to generate sufficient gross profit in order for the football club to start paying back its loans. But there is absolutely no signs of the club generating that sort of profit at the moment in order to do so, save for a huge slice of football fortune, which clearly cannot be planned for.

If you then look carefully at the published accounts, you will also see that in addition to his loans, Mr Fenty has provided financial guarantees amounting to £325,000. This will be security for the banks for which they will provide things like overdraft facilities. So when people criticise him and talk about his loan, they need to realise that his support goes much further than that. Essentially if the club was to fall over financially tomorrow, then John Fenty would be legally bound to personally cough up, to the tune of up to £325,000 in order to settle the companies bank account balances. In winding the business up, he would then have to try to recover that money by way of the sale of assets, for which he maintains fixed and floating charges over, so has first dibs on those ahead of any outstanding creditors.

But in respect of this £325,000 personal guarantee, whichever person or organisation that wishes to take over from John Fenty, not only has to have the ability to stump up to clear the loans, but they also have to have the personal ability to become a guarantor to the tune of this £325,000.

Moving on from there, this brings us to the matter of John Fenty's shareholding. These are totally and utterly not connected to his lending or security for the club. These are shares that he has had to obtain by whatever means, mostly by purchase. Remember that the club is a PLC, anybody can buy the shares. But in order for them to obtain a majority stake in the business, or an controlling interest, then they would need to obtain buy greater number of shares than what John Fenty owns. Presumably by purchase, remembering that John Fenty really doesn't have to sell his shares either. So that could be a seriously large investment in order to surpass the shareholding of John Fenty and the other shareholders in order to reach a level of controlling interest.

Maybe John Fenty would have an appetite to dispense with his shares at a hugely discounted price, if he was going to recover his loans and be relieved of his security. And if he could be confident that the person taking over has what is needed financially to take the club forward. Who knows? Maybe not! He may wish to recover the cost of his shares too, or at least what is deemed as their current value.

But considering all of this, if John Fenty isn't convinced that a new person or organisation doesn't have the wealth to bring anything to the club that he cannot himself, then why the hell would he move aside. Especially when you consider that this is the club he loves, that he supports, and that he is financially quite comfortable with his existing exposure.

It is only when you start breaking it down that you start to realise people, that whilst some seek to paint John Fenty as the villain, that he is actually the only real bit of cement between the ailing bricks that is giving you a football club to follow. No matter whether you like that or not, it is the true facts of the matter.

I would imagine that if I was in John's shoes, I would be looking for:

1. my £2 million back.
2. being relieved of the need for me to provide £325,000 of personal guarantees.
3. recovering the cost of my shares or at least some value for those shares.
4. a new owner that I know would be in the positive interests of the club, with something extra to bring to the table.



Considering you say you aren't john you know an awful lot about john?
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Ascend
January 10, 2018, 2:57pm Report to Moderator
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Quoted from OneLove



Considering you say you aren't john you know an awful lot about john?


I know only what can be read in the accounts. That's all. Anything else is supposition, or as I have said above, what I would want if I was in the fortunate position that he is in, and could have afforded to support the club financially like he has for all of these years.



If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,

Paul Hurst
BE CAREFUL WHAT YOU WISH FOR
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LH
January 10, 2018, 3:31pm Report to Moderator

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When I sell my car eventually I want the full price I paid for it originally, the money back I’ve spent on stuff like tyres, fuel and screenwash to keep it running and the people who I’ve driven around in it to shut up. The fact I’ve taken it off road and ragged it about, let it rust and given it to crap mechanics to repair it doesn’t matter - I should be able to recoup everything I’ve spent on it.
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promotion plaice
January 10, 2018, 3:39pm Report to Moderator

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Quoted from sackthemascot
For JF and RS to leave the club forever ??

Surely a crowd funding page or organised events could start the ball rolling.

I've not actually met anyone who wants them here (apart from delighted Scunny fans!!) so there would be plenty of donations.

Nothing personal, just a buyout.




Sometimes it is the people no one imagines anything of who do the things that no-one can imagine
Alan Turing
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