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TheRealJohnLewis
February 1, 2018, 9:17pm
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Quoted from 139914


Thank you, I wasn’t disputing his performance, if you read my previous posts I think you’ll find we are in agreement.  I was merely pointing out that he started with good intent and made a commitment (I won’t call it an investment) that the majority wouldn’t make.  Imagine the scenario, GTFC go into admin tomorrow, will you put 20% of your net worth in to save the club you love?  He did.

Yes he’s exhausted all of the goodwill and ultimately compounded our plight with his mistakes, but he at least gave it a shot.


I get your point and can see you're anti but just to be an argumentative fecker.  I would not put a single penny in if the club went into admin, because it'd only end up in JF pockets as his loan takes priority over any other debt the club has. He might have had good intentions when he first started out, but that has turned into self-preservation and he now only has his own money at heart not GTFC.  

Would I have put 20% of my money into GTFC at the same point in time as JF did (which was prior to the ITV digital collapse) and if I had 20 million, then maybe, I could still live on 16 million, I'd even by myself a snooker table! The future return on the investment was looking very rosy at that moment in time until ITV cocked up.  Would I have put 20% of my 2001 earnings, £15000 ish I think, not a chance as a young lad I needed every penny I earned, as I still do.

I just don't think any of the blame for the last 15 years of mainly shite, with too few highs, should be deflected away from the Messiah. I mentioned on a different thread but some GTFC fans really do have Stockholm syndrome when it comes to JF.
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RonMariner
February 1, 2018, 9:21pm

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Quoted from Marinerz93


I see what you are saying, look at it this way and you don't need hindsight to weight up the dilemma we faced.

We owed the taxman a certain amount that had to be paid back in stages, how did Fenty's repayment for paying off Ramsden effect the playing budget, it was Fenty who hired and fired many managers paying them and crap players off then loaning the club money to cover this. We have a benign loan from Fenty is that loan itemized, if not why not. That way we can see why the loan is as high as it is and see the circumstances around it. Why did he have to loan the club money against it's assets when any businessman knows loans against the assets are bad for the books.


Well secured loans are very common in business. They were loans rather than gifts because I suppose, at the outset at least, he hoped to get them back as the clubs fortunes improved. I remember one meeting where he said that no previous director had ever lost money investing in the club. Don't know if it's true, but it was what he seemed to believe.

I must say that I have always thought that the best way to lose your money is to buy a football club. They are bottomless pits financially. a majority of them have been in admin at one time or another, and very few make regular profits. They are often millionaire vanity projects.

That said, if I won the Euro Lottery I'd give it a go with Town. I'd be happy to pump ten or twenty million in if I won a hundred mill.  It would be worth it just to overtake Scunny.  Maybe I should start buying tickets.
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Rodley Mariner
February 1, 2018, 9:29pm
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Am I right in thinking that JF has been accruing a decent pension from the club? Thought there was something on the accounts though not certain.
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TheRealJohnLewis
February 1, 2018, 9:33pm
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Quoted from Rodley Mariner
Am I right in thinking that JF has been accruing a decent pension from the club? Thought there was something on the accounts though not certain.


Hard to say either way, £34k was paid into the pension pot, but that won't be just JF, most staff will have contributions from GTFC.

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Cambs Mariner
February 1, 2018, 9:35pm
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Quoted from Rodley Mariner
Am I right in thinking that JF has been accruing a decent pension from the club? Thought there was something on the accounts though not certain.


That is one of the ways directors usually take money from a company because of the tax advantages for the individual. Over the years I don't imagine Mr Fenty is too much out of pocket.
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Cloudy
February 1, 2018, 9:45pm
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Can we be clear John Fenty doesnt draw a salary from GTFC!

I cannot remember the exact scenario over the annual payments in to a pension but I am sure someone will be able to remember. It was something to do with a payment/loan 5 star fish had made prior to its sale. It may have been that John paid itback personally in a lump sum and then GTFC paid him back ( directly into his pension)over a few years. Those payments ceased some years ago.

Like I said this may not be 100% correct
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easypeersy
February 1, 2018, 9:45pm
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Last season Notts County were shite and lost ten matches on the trot.
They picked up again and look at them this season!
It is a funny old game!
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ginnywings
February 1, 2018, 9:48pm

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Quoted from easypeersy
Last season Notts County were shite and lost ten matches on the trot.
They picked up again and look st them this season!
It is a funny old game!


With a new manager.  
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MuddyWaters
February 1, 2018, 10:08pm
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Quoted from Cloudy
Can we be clear John Fenty doesnt draw a salary from GTFC!

I cannot remember the exact scenario over the annual payments in to a pension but I am sure someone will be able to remember. It was something to do with a payment/loan 5 star fish had made prior to its sale. It may have been that John paid itback personally in a lump sum and then GTFC paid him back ( directly into his pension)over a few years. Those payments ceased some years ago.

Like I said this may not be 100% correct


I think you're right. I know that JF got very prickly about it at the time.
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cleethorpes_mariner
February 1, 2018, 10:13pm
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Quoted from Cloudy
Can we be clear John Fenty doesnt draw a salary from GTFC!

I cannot remember the exact scenario over the annual payments in to a pension but I am sure someone will be able to remember. It was something to do with a payment/loan 5 star fish had made prior to its sale. It may have been that John paid itback personally in a lump sum and then GTFC paid him back ( directly into his pension)over a few years. Those payments ceased some years ago.

Like I said this may not be 100% correct


this is correct, Whilst JF owned Five star He loaned the club some money but when he sold five star the new owners  recalled the money back, I believe it was paid back in installments as pension contributions, as I dont work in finance I dont get why it was done this way, JF does not take a wage from the club or any other payments, The 200k in last years accounts was explained as a separate loan he made to the club when we went to wembly to cover expenses until the club got the revenue back from the EFL..


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