Takeover

Quoted from Rob_in_Grimsby

The club and the Trust do that exercise every year by setting a playing budget and how that budget is going to be paid and a guarantee of who will put in any shortfall if the projections fall short.
Just because hey dont post the figures on here does not mean it does not happen

The trust have feck all to do with allocating the budget so don’t come that one.  How far has your mate taken us forward under his tenure?
How far does he look like taking us forward??  

Quoted from Rob_in_Grimsby

The club and the Trust do that exercise every year by setting a playing budget and how that budget is going to be paid and a guarantee of who will put in any shortfall if the projections fall short.
Just because hey dont post the figures on here does not mean it does not happen

But I assume this initial budget is to break even and hope for some " football fortune" e.g. a good cup run as this season, the thing is  do the board ever think that they just might push the boat out a little to have a go at a promotion year.

Quoted from Gaffer58

But I assume this initial budget is to break even and hope for some " football fortune" e.g. a good cup run as this season, the thing is  do the board ever think that they just might push the boat out a little to have a go at a promotion year.

That I cant answer sorry but would be a good question to ask at the next fans forum, I suppose the only issue is if they do and it fails to get us promotion then it possibly piles more debt on to the club which for some is unacceptable

Quoted from Rob_in_Grimsby

The club and the Trust do that exercise every year by setting a playing budget and how that budget is going to be paid and a guarantee of who will put in any shortfall if the projections fall short.
Just because hey dont post the figures on here does not mean it does not happen

Based on set income like league money and projected attendances. If we lose money and they (well JF) have to cover the shortfall, it's because gates are down and we have gone out of the cups in the early rounds. This usually indicates the team is playing badly and mostly losing, something that has happened in way too many seasons. No-one is putting in extra money and speculating to accumulate. The argument many have is that all they are doing is deciding where the money goes, and that any set of fairly competent people can do that. We have the same board year in year out, because we are in hock to one of them.

I do appreciate that the board do a good job of balancing the books, and there are clubs in far worse financial state than we are, just for balance.

Quoted from arryarryarry

I fully agree, when has John Fenty and the board come out with a commitment and proof of funding going forward?

Unfortunately they have the power so dont have to show their hand at all....entirely upto him whether he sells or not....he could have all his unknown terms and conditions met but still choose to stay.....he has the majority share...he has the board in his pocket...am i right in thinking that currently he cant even be forced out at as he holds 51% doesnt he ?

unchallengeable control that the Trust membership handed him on a plate with the Parker shares if i recall correctly.

I wonder if the trust board rep or other members of the board actually know what terms have to be met for JF to accept a takeover or is it just dependant on his mood that day and if he likes whoever the person(s) are.

Quoted from rancido

According to JF's statement on the back page of todays GET  - " They ( the interested parties) seriously wanted to move forward but, at the same time, they weren't providing us with the proof of funds, and the necessary business case for taking the club forward".

I think that explains why the Board rejected the approach. Under those circumstances I think any responsible " custodian " of a football club would have come to the same conclusion.

Proof of funds to do what? Invest in the club or pay off JF's loans? If they seriously wanted to move forward I doubt they had no funding in place.

Quoted from denni266

https://www.grimsbyindependent.....DTYKg4fx23MozJIijP4w

Very interested report ,Hope it happens, would like to see Brian Huxford back on the GTFC board

Quoted from rancido

According to JF's statement on the back page of todays GET  - " They ( the interested parties) seriously wanted to move forward but, at the same time, they weren't providing us with the proof of funds, and the necessary business case for taking the club forward".

I think that explains why the Board rejected the approach. Under those circumstances I think any responsible " custodian " of a football club would have come to the same conclusion.

I heard that the interested parties had promised to lend the club £2m for twenty years replacing JF's loan with their own, promised to ensure that lower League Two or Conference football will be guaranteed every season, embarrass the club publicly on at least an annual basis and make zero progress on the new stadium for another two decades.

JF turned them down flat saying that any custodian of GTFC would be a lunatic to accept such a poor vision for the future of the club..

One again the light at the end of the tunnel turns out to be an oncoming train.

Quoted from Rob_in_Grimsby

The club and the Trust do that exercise every year by setting a playing budget and how that budget is going to be paid and a guarantee of who will put in any shortfall if the projections fall short.
Just because hey dont post the figures on here does not mean it does not happen

Sorry rob, don't know who you are but wow that is a disingenuous comment of Trumpist proportions. So what you're trying to say is that the trust have an equal whip hand to fenty in setting the budget? Sorry but that's bollox. I am a founder member of the trust so support them to the hilt, but let's be honest; as things stand Fenty rules the roost and it's his decisions that shape our club. The trust may be able to act as a brake on his excesses, but in reality that's the extent of their power