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Name your price..

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The Old Codger
April 28, 2019, 10:09pm Report to Moderator
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Quoted from Madeleymariner

Port Vale


And Bury. Pen penfras seems well connected, perhaps he/she/they will let us know?
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rancido
April 29, 2019, 7:55am Report to Moderator

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Quoted from The Old Codger


And Bury. Pen penfras seems well connected, perhaps he/she/they will let us know?



But they haven't named their price , as Pen Penfras pointed out in his post


The Future is Black & White.
"The commonest thing on this planet is not water , as some people believe, but stupidity ". Frank Zappa
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golfer
April 29, 2019, 8:47am Report to Moderator
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Quoted from chrissy
What was Hurst doing at the match ?  supporting Town or looking for his next job at County  


I think County were offering free entry passes for the unemployed-Jolly saving his for next season.
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FishOutOfWater
April 29, 2019, 5:39pm Report to Moderator
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Quoted from pen penfras


Do any other football club owners come out and do this? I can't think of another club where the owner has said the club is up for sale and I want x amount for it. Maybe the clubs in financial ruin that get sold for £1, but that's only because the guy selling has far more invested in loans and wants them back and the sale of the club is to find somebody who guarantees the payback of the loans...

Even if Fenty does come out and say how much he wants, it'll only be used as something else to beat him with. I thought it was common knowledge that he wants his money back, so that's not a difficult number to work out.

As for Hurst, what a bitter little man he is. He was given a budget and had to stick to it, what use is complaining about it years later? I was under the impression that we lost money the first couple of years under Hurst, we certainly didn't make much. Where is the rest of the money that he should have had coming from?


And there was I, under the impression that there wasn’t any money to be lost?


https://youtu.be/otwGjlNonQw
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Rob_in_Grimsby
April 29, 2019, 6:28pm Report to Moderator
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Quoted from pen penfras


Do any other football club owners come out and do this? I can't think of another club where the owner has said the club is up for sale and I want x amount for it. Maybe the clubs in financial ruin that get sold for £1, but that's only because the guy selling has far more invested in loans and wants them back and the sale of the club is to find somebody who guarantees the payback of the loans...

Even if Fenty does come out and say how much he wants, it'll only be used as something else to beat him with. I thought it was common knowledge that he wants his money back, so that's not a difficult number to work out.

As for Hurst, what a bitter little man he is. He was given a budget and had to stick to it, what use is complaining about it years later? I was under the impression that we lost money the first couple of years under Hurst, we certainly didn't make much. Where is the rest of the money that he should have had coming from?


It is harder than you think as there are a few issues to any new owner and not all are to do with JF
As GTFC is a PLC there are rules around buying blocks of shares so if any new owner wanted to buy the club he would have to make every shareholder an offer to buy their shares not just JF's shares,
JF only owns about 40% share holding and any new owner would possible want more say 51%, this means MP or the Mullins who also own large blocks of shares could demand the new owner to buy theirs as well  In real terms to price could be 1 mil or up to 2.5 mil depending on who wanted to sell.
On top of this there are loans by directors, if the new owner was to pay off JF partly or in full then others who have loans in the club would also ask for tier money back again a far smaller sum but still a cost to the new owner.
The new owner in theory could just buy JF out of his shares for about 1 Mil and accept JF loans stay on the books as a loan to be paid back in the future if affordable as per the rules of the club charter and thats it but on the other hand the price worst case could be over 4 Mil
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ska face
April 29, 2019, 6:57pm Report to Moderator

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Quoted Text
The new owner in theory could just buy JF out of his shares for about 1 Mil and accept JF loans stay on the books as a loan to be paid back in the future if affordable as per the rules of the club charter and thats it but on the other hand the price worst case could be over 4 Mil


This is the problem with Fenty and the continual ambiguity around his loans. There’s nothing in black & white anywhere about repayment agreements and conditions for repayment, and the club have for years operated in this grey area where Fenty might decide to take some money back, might not, depending on what HE decides is a suitable financial position for the club to do so.

This means that while the rest of us have suffered through the last two years of watching utter garbage, he’s been happy to take £200,000-a-year back out of the club and out of the overall budget and into his pocket. The football’s crap, the ground’s falling to pieces, the ticket office are storing details in an exercise book, the SLO has about 3 other jobs and we’re charging people to be Mighty Mariner, but we’ve probably got just about enough to stay up so that’ll do for the plebs.

It also means there’s no real motivation to increase turnover and pay the loans off quicker. We could tick over again, same money coming in from STs and the league and he might decide to take it out again. If not, he doesn’t lose anything, it’s still sat there on the balance sheet and we can have another look in 12 months. Or he could sit there waiting for a millionaire to lose his mind and buy the club, meaning he might get the whole lot back in one fell swoop without doing anything for it.

A more suitable way of managing the situation would be agreeing a repayment schedule based on performance/profit on a sliding scale over a set threshold. This should be formally agreed by the board & The Trust and plainly outlined in black and white in the accounts.
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lew chaterleys lover
April 29, 2019, 7:10pm Report to Moderator
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Quoted from ska face


This is the problem with Fenty and the continual ambiguity around his loans. There’s nothing in black & white anywhere about repayment agreements and conditions for repayment, and the club have for years operated in this grey area where Fenty might decide to take some money back, might not, depending on what HE decides is a suitable financial position for the club to do so.

This means that while the rest of us have suffered through the last two years of watching utter garbage, he’s been happy to take £200,000-a-year back out of the club and out of the overall budget and into his pocket. The football’s crap, the ground’s falling to pieces, the ticket office are storing details in an exercise book, the SLO has about 3 other jobs and we’re charging people to be Mighty Mariner, but we’ve probably got just about enough to stay up so that’ll do for the plebs.

It also means there’s no real motivation to increase turnover and pay the loans off quicker. We could tick over again, same money coming in from STs and the league and he might decide to take it out again. If not, he doesn’t lose anything, it’s still sat there on the balance sheet and we can have another look in 12 months. Or he could sit there waiting for a millionaire to lose his mind and buy the club, meaning he might get the whole lot back in one fell swoop without doing anything for it.

A more suitable way of managing the situation would be agreeing a repayment schedule based on performance/profit on a sliding scale over a set threshold. This should be formally agreed by the board & The Trust and plainly outlined in black and white in the accounts.


Quite. I have a grudging respect for JF in the way he has a vice like hold on the club, whilst in public declaring the loans are benign. The only thing benign about them is that, because he is a fan he is not calling them in whilst the club cannot afford to pay them. In every other respect they are certainly not benign as they are an important part of the vice-like grip, and will put off potential takeovers.

There has been many discussions on here whether he even deserves any of the loans back, bearing in mind the millions he has cost the club over the years, but we are where we are and there seems no way out. A reduced playing budget due to lower season ticket sales could be the last straw.
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Rodley Mariner
April 29, 2019, 7:12pm Report to Moderator
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What a great offer that is for a new owner - buy this football club for £1million. It's been run into the ground, has virtually no assets and an alienated fanbase. If you are innovative, engaging and hardworking you might be able to turn it round and make it successful once again. In which case you'll have to then pay more money to the bloke you bought it off.
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ska face
April 29, 2019, 7:23pm Report to Moderator

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Quoted from Rodley Mariner
What a great offer that is for a new owner - buy this football club for £1million. It's been run into the ground, has virtually no assets and an alienated fanbase. If you are innovative, engaging and hardworking you might be able to turn it round and make it successful once again. In which case you'll have to then pay more money to the bloke you bought it off.


This is assuming Fenty remains at the helm. I wouldn’t give him the steam off my urine personally, but let’s be pragmatic as I don’t think there’s anyone waiting in the wings to take over. If he wants his money back he should have to work for it.
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Rodley Mariner
April 29, 2019, 7:50pm Report to Moderator
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Quoted from ska face


This is assuming Fenty remains at the helm. I wouldn’t give him the steam off my urine personally, but let’s be pragmatic as I don’t think there’s anyone waiting in the wings to take over. If he wants his money back he should have to work for it.


Apologies as should have quoted Rob_in_Grimsby as it was his suggestion I was really responding to. Your suggestion is a decent one but not a chance he'd consider working along the lines of being accountable for the performance of the club under him.
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