Takeover

If the club has just about zero assets but they have debts of £2000000 [benign loans] then surely the club is worthless so the shares in something worthless must also be worthless ????

Isnt it about time we put this to bed. If we keep this conjecture up i fear we could end up with another statement and all hell would be let loose on here.
Let it go back to radio silence and us contentrating on the team. I feel safe there.

Quoted from chipsandgravy

Isnt it about time we put this to bed. If we keep this conjecture up i fear we could end up with another statement and all hell would be let loose on here.
Let it go back to radio silence and us contentrating on the team. I feel safe there.

That's fine until the next losing run then everyone turns on Fenty again

Quoted from chipsandgravy

Isnt it about time we put this to bed. If we keep this conjecture up i fear we could end up with another statement and all hell would be let loose on here.
Let it go back to radio silence and us contentrating on the team. I feel safe there.

Nothing changes does it?

There has been some interest - all we needed was to know that this has now gone away not that the players' showers now have hot water.

Quoted from Ipswin

That's fine until the next losing run then everyone turns on Fenty again

Next losing run....havent you heard were not having one!

Quoted from denni266

So he has 3 mill invested in the club ,, peanuts in football terms , and with only 43% he can be out voted , not likely but possible.

Grudgingly, I have to say Mr Fenty has played a blinder. For such a small* amount, most of which he expects to get back anyway, he has held complete sway at a professional football club for the best part of two decades. Completely in charge of the club from top to bottom, and able to use it as he so wishes; not a bad gig if you could afford it at the start. He put the money in initially when nobody else would if I remember correctly, and again kudos for that.

He has seen off anyone who threatened his total control and allowed the fans, who obviously love the club, to finance the majority of it over the years whilst himself making minimal (at best) improvements on and off the field.

* in professional football terms.

Quoted from golfer

If the club has just about zero assets but they have debts of £2000000 [benign loans] then surely the club is worthless so the shares in something worthless must also be worthless ????

As of May 2018, the club was worth minus 600k taking into account the "benign" loan, so yes, as it stood then, the shareholders (including JF) on paper in pure numerical terms would be facing paying a potential investor around 25p per share held (not receiving £1 per share) as a contribution towards paying JF his loan off and get the club back to exactly where the club would be worth on the balance sheet without the loans if the deal were to be equitable, and that's not including the necessary cost of upgrades at BP in the very near future too. It underlines how much a potential investor would have to "waste" before ever investing positively in the club if they had to pay the 1.8m loan off and buy the 2.25m shares at face value and take on the burden of BP. The accounts and JF's stranglehold are seriously fooked up in pure numerical terms. Proper little black hole bunker JF has built for himself and the future prospects of the club.

Not only is JF demanding investors pay a substantial amount to get the club back to zero just to gain control, they need to prove additional funds for investment in a new stadium and a vision for the future. He will then walk away with his cash back in full, having cost the club 3m for leading us back into the Conference and never having provided a vision himself. Seriously fooked up state of affairs when you look at the proposition in pure numerical terms in my opinion..

I'm all for the current board ensuring that potential investors prove that they have the funds to take the club forward, but JF seriously has to consider the true value of what he is selling (and hopefully he will be taking this into account) rather than insisting on them paying for a worthless and punitive financial barrier before ever being able to allocate funds for physical investment..

Quoted from Ipswin

That's fine until the next losing run then everyone turns on Fenty again

So let's not stop now then.

The problem with this thread and others like it is that they just go round in circles and we are still none the wiser. Obviously this is a message board and all topics should be discussed but any thread involving JF inevitably goes in one direction and that is that he should go. I agree with this wholeheartedly but he will only go when the conditions suit him and that, in all fairness businesswise, is not an unreasonable position to hold. He has made it absolutely categorically clear that he wants out and is slowly loosening his dealings with the club. All we can hope is that some kind of deal acceptable to him comes soon otherwise this whole saga will just keep going on and on and on.

Quoted from Bigdog

As of May 2018, the club was worth minus 600k taking into account the "benign" loan, so yes, as it stood then, the shareholders (including JF) on paper in pure accounting terms would be facing paying a potential investor around 25p per share held (not receiving £1 per share) as a contribution towards paying JF his loan off and get the club back to exactly where the club would be worth on the balance sheet without the loans if the deal were to be equitable, and that's not including the necessary cost of upgrades at BP in the very near future too. It underlines how much a potential investor would have to "waste" before ever investing positively in the club if they had to pay the 1.8m loan off and buy the 2.25m shares at face value and take on the burden of BP. The accounts and JF's stranglehold are seriously fooked up in pure accounting terms. Proper little black hole bunker JF has built for himself and the future prospects of the club.

Not only is JF demanding investors pay a substantial amount to get the club back to zero just to gain control, they need to prove additional funds for investment in a new stadium and a vision for the future. He will then walk away with his cash back in full, having cost the club 3m for leading us back into the Conference and never having provided a vision himself. Seriously fooked up state of affairs when you look at the proposition in pure accounting terms in my opinion..

Is that why we've got an accountant as a director?

I've said (ad nauseam I know) that the loans make the club a worthless investment proposition but never before has a completely devalued club looked such bad value.