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 jamesgtfc |
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Read that this morning Barra and it makes chilling reading. Andy Holt seems to me to be a really forward thinking chairman but needs to gather others around him to make changes that are absolutely necessary for the bottom three tiers of the League.
Of the 72 EFL chairmen I wonder how many think like him? If just 10 thought like him they could make a real impact into the decision making. |
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| Bigdog |
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All the information re: how much would be needed to oust Fenty is in the public domain. The club issue accounts & shareholder details every year.
[url=https://beta.companieshouse.gov.uk/company/00034760/filing-history]Click here for GTFC company house submissions[/url]
Total shares issued in GTFC: £2,275,300
John Fenty shares: £975,000 (42.85%)
Mike Parker shares: £500,000 (21.98%)
Mariners Trust shares: £321,050 (14.11%)
Despite his shareholding and loans it would be very easy for somebody to force Fenty out and for less money than you might think.
If somebody bought £975,000 of shares they would hold an equal shareholding with Fenty, The extra share issue would also water down Fenty's shareholding to just under 30%. The money raised from the sale of shares could be 100% used to reduce Fenty's benign loans to £825,000.The new shareholder could loan the club £412,500 and again the money could be repaid to Fenty so the new shareholder has equal shareholding & equal loans to the club as Fenty, So someone could gain complete parity with Fenty for £1,387,500. The new shareholder could then convert his loan into shares and become the biggest shareholder in the club. Fenty would then have to either do the same to maintain parity or be sidelined. And I don't think Fenty wants to put another penny of his own money into the club.
And if the new shareholder could get Mike Parker and/or the Trust on side Fenty could be removed from the board and his influence on the day to day running of the club would be zero.
In bare figures it seems simple, but without an injection of significant cash, the new incumbent will be just as hamstrung as the present board. If changes were to be made like a root and branch assessment of current staffing performance, a digital ticketing procedure introduced, a new Chief Executive, money towards assessment, planning and building of the new stadium, a wholesale uplift in the GTFC brand etc etc, anyone would be foolhardy to go in without a warchest of at least a couple of mill extra to invest in the shares of the club (not loans) and with it the intention to open up the boardroon to new investors with significant cash to invest in further share issues. If we do have a change in ownership, I'd hope it would be one to enable the club to make a significant leap forwards rather than trying to implement new (needed) methods of operation without the cash to execute them properly and sustainably. 3-5 mill investment with an opening up of the new board by publicly announcing GTFC is open to new ideas and investment could do it. Anything less, I don't think we'd make much of a mark on the footballing pyramid. I'm with JF on this one. The right investor with the right intentions needs to come in and I hope by saying this JF means it and it's not a smokescreen for him to buy some more time to get all of his money back or there's too many personal or needless barriers to put off any prospective investor.. |
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| barralad |
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Apologies if I've missed something but no-one seems to have mentioned the ongoing cost of the alterations needed to B.P. in the absence of a move to a new stadium. Should a new stadium become a reality it surely won't happen without a significant contribution from the club?
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| The aim of argument or discussion should not be victory but progress.
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| FishOutOfWater |
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You will need to scroll down his subsequent tweets to get the whole thread. It is interesting to be fair.
Basically handing over £1,387,500 would get you the keys to a business that will almost certainly lose money every year.
Do Town actually lose money year on year then? I thought I'd read that our budget more or less had us breaking even ( although still in debt to JSF )…….. maybe I got that wrong? The other thing to consider though is that a change of management would bring about a change of management style, so even if it we are losing money, who's to say a new hand on the tiller won't mean that we can't benefit from such differing styles and make money instead? I'm just trying to present a glass half-full perspective here.... I don't know enough about GTFC as a business but having been employed in companies over the years who are wasteful with their resources, it only takes a bit of tweaking to change things about and what was a negative can become a positive UTM |
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| crusty ole pie |
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All the information re: how much would be needed to oust Fenty is in the public domain. The club issue accounts & shareholder details every year.
[url=https://beta.companieshouse.gov.uk/company/00034760/filing-history]Click here for GTFC company house submissions[/url]
Total shares issued in GTFC: £2,275,300
John Fenty shares: £975,000 (42.85%)
Mike Parker shares: £500,000 (21.98%)
Mariners Trust shares: £321,050 (14.11%)
Despite his shareholding and loans it would be very easy for somebody to force Fenty out and for less money than you might think.
If somebody bought £975,000 of shares they would hold an equal shareholding with Fenty, The extra share issue would also water down Fenty's shareholding to just under 30%. The money raised from the sale of shares could be 100% used to reduce Fenty's benign loans to £825,000.The new shareholder could loan the club £412,500 and again the money could be repaid to Fenty so the new shareholder has equal shareholding & equal loans to the club as Fenty, So someone could gain complete parity with Fenty for £1,387,500. The new shareholder could then convert his loan into shares and become the biggest shareholder in the club. Fenty would then have to either do the same to maintain parity or be sidelined. And I don't think Fenty wants to put another penny of his own money into the club.
And if the new shareholder could get Mike Parker and/or the Trust on side Fenty could be removed from the board and his influence on the day to day running of the club would be zero.
If only it was that simple any large issues of shares needs to have approval of the current board of directors and they would hardly vote for something that would undermine their position, |
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| Maringer |
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Unfortunately, iinvesting in a small football club is a good way to turn a small fortune into a much smaller fortune...
We've been existing hand to mouth pretty much ever since we were formed (same goes for other clubs our size) so it isn't likely much will change once Fenty eventually departs. If the replacement owner(s) don't have more money to put in, let's hope they get a bit of luck with recruitment.
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| arryarryarry |
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Do Town actually lose money year on year then?
I thought I'd read that our budget more or less had us breaking even ( although still in debt to JSF )…….. maybe I got that wrong?
The other thing to consider though is that a change of management would bring about a change of management style, so even if it we are losing money, who's to say a new hand on the tiller won't mean that we can't benefit from such differing styles and make money instead?
I'm just trying to present a glass half-full perspective here.... I don't know enough about GTFC as a business but having been employed in companies over the years who are wasteful with their resources, it only takes a bit of tweaking to change things about and what was a negative can become a positive
UTM
I agree, I made a similar comment on another thread recently. If the club is being run on income alone and not director contributions then surely anybody could come in and run the club on a similar basis with hopefully better decision making than the current regime has made over the past 16 years which had led the club to its lowest league placing in its history. I have nothing personal against the current regime but just think we have been poorly run from top to bottom. |
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| rancido |
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That looks so easily attainable it`s painful. Basically for £450 EA Town`s current STH could buy him out and fcuk him off and the Trust could/should be driving it but won`t for fear of the unknown so we continue to rot.
I agree with what you say but when you consider a lot of posters on here think even our present ST is too expensive then I'm sure it would be difficult to co_ordinate what you propose. |
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| Meza |
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Could us fans buy shares? And how many would we need to gain the majority?
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| Rick12 |
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A bit of truth in this BUT he is also a shrewd businessman and a politician who knows how to tell you what you want to hear without actually saying what you want him to say . That`s not a dig at him it`s just how I see it . I believe 100% that if JF genuinely wanted out he would have sold the Club ages ago it isn`t that difficult and if Golly`s sums are anywhere near a buyer should not be hard to attract? Everyone has a pop at Mr Fenty but the rest of the board are equally to blame in my opinion. In the 16 years of Mr Fenty`s tenure what do they or have they ever contributed to the Club either financially or in terms of football nouse to support some of the decisions made? Personally whatever happens going forward the first thing I would do is get Alan Buckley in the boardroom to provide some football nouse to help them on that score. Secondly bring in on a proper salary somebody to drag the whole ticketing and marketing side of things into 2019 before we fall further behind Clubs we used to be 2 or 3 Divisions above.UTM
Dont know all the ins and outs like some on here but I assume its his money and he can do as he pleases fit.Hence he's probably worked hard for that money and if he feels he dont want to invest in the football club then so be it and should vacate the position. |
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