Its happening!!! The takeover!!!

Quoted from grimsby pete

Sort of KM he did give me his number by PM  and sent me a further 2 PM's insisting I call him.

He spent 20 mins telling me what he had done to save town from going into Liquidation as we had a tax bill of over £800,000 and Ramsden who was voted off the board wanted his money back .  With a couple of other debts he put £2 million of his own money in. I did not get much chance of getting a word in but he did say I could call him anytime.

I decided the best way of getting my questions across was by PM which I did.
He was not impressed with my questions and said do not call me again,
So ended our beautiful friendship.
What he meant that I wanted to go 10 rounds with him baffled me.

Must have been in his Boxing Metaphor Period, because he also offered to go tot-to-toe with anyone ahead of the Infamous Fans' Forum  

Our position could be worse - we could be Bury.  This is true.  On the other hand we could be
Bounemouth.  Just for the sake of balance.

Quoted from grimsby pete

Sort of KM he did give me his number by PM  and sent me a further 2 PM's insisting I call him.

He spent 20 mins telling me what he had done to save town from going into Liquidation as we had a tax bill of over £800,000 and Ramsden who was voted off the board wanted his money back .  With a couple of other debts he put £2 million of his own money in. I did not get much chance of getting a word in but he did say I could call him anytime.

I decided the best way of getting my questions across was by PM which I did.
He was not impressed with my questions and said do not call me again,
So ended our beautiful friendship.
What he meant that I wanted to go 10 rounds with him baffled me.

Obviously we wouldn't have been liquidated. We might have ended up in administration, but clearly that's a very different proposition. Especially as points deductions weren't introduced until season 2004/05 in response to the Leicester City farce. When Fenty took over there were no sporting sanctions for "insolvency events". We should have gone into adminstration the day after ITV digital folded. When is a CVA ever rejected. Even Bury FC have one agreed with their creditors.

Fenty made a huge mistake in 2002. He loaned GTFC £650,000 through his business to repay Dudley Ramsden and co. In an instance he became the biggest potential financial loser if GTFC went into administration and the only sensible way out was to continue to loan more money to protect the money he had already loaned the club.

I think we're the only club still in a mess because of ITV digital. Well, not because of ITV digital. Because how our owner reacted to ITV digital failing.

Quoted from GollyGTFC

Obviously we wouldn't have been liquidated. We might have ended up in administration, but clearly that's a very different proposition. Especially as points deductions weren't introduced until season 2004/05 in response to the Leicester City farce. When Fenty took over there were no sporting sanctions for "insolvency events". We should have gone into adminstration the day after ITV digital folded. When is a CVA ever rejected. Even Bury FC have one agreed with their creditors.

Fenty made a huge mistake in 2002. He loaned GTFC £650,000 through his business to repay Dudley Ramsden and co. In an instance he became the biggest potential financial loser if GTFC went into administration and the only sensible way out was to continue to loan more money to protect the money he had already loaned the club.

I think we're the only club still in a mess because of ITV digital. Well, not because of ITV digital. Because how our owner reacted to ITV digital failing.

I suppose that first mistake was understandable for someone who loves the club.

It's the rest of the way he conducted things that is the issue.

I don’t think you can saving us from admin was a huge mistake. Admin isn’t a silver bullet and it means a lot of people you owe money to don’t get paid. I’m glad we’ve never gone down that route.

Quoted from psgmariner

I don’t think you can saving us from admin was a huge mistake. Admin isn’t a silver bullet and it means a lot of people you owe money to don’t get paid. I’m glad we’ve never gone down that route.

How many penny's in the £1 did GTFC get from ITV digital when they went out of business. Zero. I appreciate it's not nice, but the club was clearly insolvent after ITV digital.

We've not gone down that route. But there are countless clubs who have gone down that route since ITV digital and have gone on to have great success. I can think of 1 club who went on to win the Premier League & another club who were in admin 3 times in less than 15 years and are now as established Premier League club.

There were 10 EFL clubs who went into administration between ITV digital collapsing in May 2002 & the end of 2003. They all survived. They all still exist.

Correction: Bournemouth were only in admin twice. In 1997 & 2008.

There is the knock on effect of administration on the many local businesses a football club uses.

Yes, we may be at the bottom end of the league but we got into debt, owed people money and did the decent, honorable thing by paying the money back.

What I will say though is that with better management at the top, I believe we could have paid our debt back and been on a better footing a long time ago.

Quoted from jamesgtfc

There is the knock on effect of administration on the many local businesses a football club uses.

Yes, we may be at the bottom end of the league but we got into debt, owed people money and did the decent, honorable thing by paying the money back.

What I will say though is that with better management at the top, I believe we could have paid our debt back and been on a better footing a long time ago.

Or alternatively, the knock on effect of years of poor results could be even worse? Hindsight is a wonderful thing that none of us are born with and we all make mistakes- what sets some apart is to admit they have got things wrong rather than arrogantly berating anyone who disagrees.

Quoted from Marinerz93

That's all they have, no counter debate, just spite, take it as a win when they have to resort to that, means you've touched a nerve.

Fenty Apologists

Forgive me whilst I guffaw at the monumental irony of you posting that whilst recalling all your posts on the brexit threads! 🥴