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Be careful what you wish for

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moosey_club
February 1, 2018, 2:15pm
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If he walked away and we were left facing admin as a result , as we couldn't cover any debts come the end of the season,  then all forms of social media and forums will be trawled for any dissenters and each will be contacted to pay an equal share of the debt  

Should work out about 50p each at the going rate of dissent  


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friskneymariner
February 1, 2018, 2:25pm

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But if we did go into administration he would be one of the biggest losers so he is just as much stuck with the club as he is with it. The club should never have been allowed to become so indebted to one individual.


Give a man a fish and you feed him for a day,teach a man to fish and you give him an excuse for him to escape from the wife and kids for the weekend and drink lots of beer.
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grimsby pete
February 1, 2018, 6:08pm

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Who would take over if Slade left ?

Well if the cleaning lady took over she could not be much worse than what Slade has done over the last 10 games.

If she went into the changing room and said ," look lads I know fu ck all about football so just go out and do what you do best "

In fact maybe Slade could say that and see what happens.


                             Over 36 years living in Suffolk but always a mariner.
                             68 Years following the Town

                              Life member of Trust

                               First game   April 1955
                               
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139914
February 1, 2018, 6:15pm
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If the club went into administration then the administrators would look to secure the best deal for the creditors, whatever that looks like.  10p in the £ is not an uncommon scenario, of course the creditors have to accept the offer.

I personally don’t see any other way out for Fenty, if he carries on revenues will fall much faster than cost can be removed, if he doesn’t continue with financial support then the club will go into administration.

He’s cornered himself and knows it, much though I admire the paying fans who continue to support and attend, you’re just delaying the inevitable.
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139914
February 1, 2018, 6:30pm
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Forgot to add, there are many far more intelligent people than me out there, about 99% of the population at a guess.  But if there are any interested party’s out there, I would assume they won’t be making any moves at this stage, delaying can only improve their position.
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Squinter
February 1, 2018, 7:29pm
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I'm not fussed if Fenty stays or goes to be honest, but if he stays he has to do 2 things :-

1 - Get rid of Slade ASAP.  
2 - Step away from the day to day running of the club.

Quite happy for him to leave his money in the club, also I like the fact he wants the club to live within its means, break even every year and not get shackled with anymore debt.  The ethos works well for Burnley and others.  
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RonMariner
February 1, 2018, 9:08pm

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If Fenty put the club into admin the major asset, i.e. Blundell Park, would be sold and he could recover some of his investment that way. It must be worth a few hundred thousand as building land.

That would leave the club pennyless and homeless
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TheRealJohnLewis
February 1, 2018, 9:28pm
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Quoted from RonMariner
If Fenty put the club into admin the major asset, i.e. Blundell Park, would be sold and he could recover some of his investment that way. It must be worth a few hundred thousand as building land.

That would leave the club pennyless and homeless


This is where we get together with the Trust and crowdfund the money to buy BP on the cheap. win-win.


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kevikov
February 1, 2018, 10:22pm
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I'm probably way off but isn't there a covenant on Blundell Park that states it must stay as green/leisure land unless a suitable replacement is provided?  I admit I could well be imagining this!


I was there, the day Bradley Wood scored a 35 yarder!

From the black and white striped shirts
To the fish in the sea
You'll hear us singing
Coz we are Grimsby.

You won't hear us crying
But you'll hear us shout
Coz we are the Grimsby
And this is our chant.......... Grimsby! Grimsby! Grimsby!

     A.S.A.F.A.T.
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Cambs Mariner
February 1, 2018, 10:32pm
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Aren't his loans attached to Blundell Park which would mean he is top of the debtors list.
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