Fenty Out

Quoted from GollyGTFC

You ok John?

Quoted from ska face

Give over with the self-pitying victim routine. Facts are facts,  there in black & white. The loans increased to cover losses not offset by increased income. If someone ran a business that ended up losing, on average, £3k a week for ten years and did virtually nothing to address this by increasing income, there’s a problem there.

Quoted from GollyGTFC

benign
/bɪˈnʌɪn/
adjective
1.
gentle and kind.

How can anybody consider Fenty's loan to be either gentle or kind? It's a noose around the neck of the football club.

GTFC is a company than can barely break-even with a crumbling old ground that isn't fit for purpose and ageing and obsolete systems and business techniques.

Anyone with ambition who wanted to take the football over would be faced with servicing a "benign" debt of £1.8m as well as having to purchase shares. Technically the club is valued at £2,275,300. Obviously it's worth no where near that amount in it's current condition.

So a new owner faces:-
Paying more for the club than it's worth.
Having an obsolete stadium, infrustrature, systems and business method to deal with and rectify.
Would be buying a club with a huge unserviceable loan which 100% would need repaying.

Quoted from Fishy_fishtails

You lot are up a F'ing tree. Same sh1t different thread. How on earth do you think you all be able to come to a decision on a sale of a player or running of the club. Who would keep the bank balance afloat? Who's going to be responsible for keeping club in the black? Who's going to represent the club? Give your heads a wobble and get back in the real world!!

Quoted from GollyGTFC

You ok John?

Quoted from MuddyWaters

Well excuse me for stating the obvious but the current 16 year regime has hardly got an A star on its track record, has it?

Quoted from rancido

Agreed but you still haven't answered some of the questions the poster asked?

Quoted from Fishy_fishtails

Not sure how many times I have to state that I am not John. JF. JSF. John Fenty or Fenty or any other names you may call him.

Quoted from GollyGTFC

His brother?

Quoted from pen penfras

In theory, that might be true, but in reality it's not at all. You can't just buy new shares in a company, the company will have a share issue as a method of fundraising. As the major shareholder, surely he would  be able to stop somebody forcibly taking control by buying only new shares by limiting the number of shares made available. In that case, you'd have to buy shares from other shareholders and not reduce his loans as much, so require more money to match the loans and gain parity. Again, converting any loans into shares isn't necessarily possible.

The problem then becomes that Fenty isn't going to cover the losses for bad decisions made by somebody else, so you end up in the same position as before where assets would have to be sold unless somebody else is going to fund the gap. So you need even more money.

Fan ownership is a nice idea, and it might be worth setting up a fundraising site to actually try and raise enough capital to buy the club and have enough reserves to demonstrate an ability to cover losses if they were to happen. But it isn't going to be the trust and the people who bang this drum the hardest seem more interested in moaning about the current situation than actually trying to impart a change.