Its happening!!! The takeover!!!

Agreeing a sale price for Grimsby Town is not the stumbling block with regards to a proposed takeover of the club, according to John Fenty.

Of course, that has not proved to be the case.

Speaking as a guest on the Burnsy Show – on BBC Radio Humberside – the club’s majority shareholder revealed that, while a sale price is not the issue, further checks still have to be made by Town and the EFL.

Mr Fenty said: “It was agreed many, many months ago. There was an offer I accepted, so that’s all done and dusted. There is no stumbling block over that whatsoever.

“From the football club’s point of view, proof of funding and passing the fit and proper test, with relation to the EFL, are clearly very important.


“Those have yet to be done.


“When all is said and done, Tom (Shutes) is a developer and I’ve no doubt he’s looking to get all of his ducks in a row before he can progress and satisfy the requirements of the EFL and the final requirements of the club which is, in particular, to make sure there is funding available in the event of a downturn at the club.

“It can be very, very costly if things don’t go right on the field, or go according to budget, as we know.

“It’s important for the club that, if we are going to pass over to new custodians, that we can at least be seen to fund a future downturn, should it occur – not that anybody wants that, of course.”

First reported by Grimsby Live, back in June, the takeover bid headed up by Mr Shutes is part of wider regeneration plans for the town and area; with the London-based businessman playing a key role in the Greater Grimsby Town Deal.

Talks between Mr Shutes and the club date back more than 12 months.

Mr Fenty added: “He’s still working on, I guess, his lot in terms of executing a proposed acquisition of the football club, and also delivering other regeneration plans, in Grimsby in particular.

“If all of that can come off it will be fantastic for the area, fantastic for the football club.

“And we just look forward to hoping that he can get his ducks in a row and making it happen.”

In terms of the proposed relocation of the club, to a new stadium, Mr Fenty shed some further light on the current state of play.

He continued: “Clearly in terms of the council, I can’t speak on behalf of the council. That’s in the hands of the chief executive, and the leader of the council, Philip Jackson.

“Aside of that, obviously the aspirations continue to relocate as far as the football club is concerned.

“I’m now speaking on behalf of the football club.

“We want to do that. At the minute, we have paused on Peaks Parkway at the request of the council.

“We have looked at Freeman Street and, of course, there are some wider proposals for potential location at the fish docks.”

I just wonder; you'd want to make sure all the required criteria in place BEFORE accepting any offer surely?

Quoted from Rik e B

I just wonder; you'd want to make sure all the required criteria in place BEFORE accepting any offer surely?

Not necessarily It appears that 'months ago' when Shutes first declared an interest in saving the town of Grimsby he made an offer to John Fenty for his shares and to pay off the benign loan (or whatever part of it Fenty was willing to accept - we don't know before everyone jumps in) to take control of the club. Fenty accepted (its his personal business anyway) but then looked at what Shutes would be investing / offering the club going forward post Fenty

Two entirely different things IMO, the offer to Fenty is totally seperate and was accepted separately. As someone else pointed out Fenty could just take his money and run and intercourse the clubs future - he's not doing that and for that I thank him for it.

Quoted from Ipswin

Not necessarily It appears that 'months ago' when Shutes first declared an interest in saving the town of Grimsby he made an offer to John Fenty for his shares and to pay off the benign loan (or whatever part of it Fenty was willing to accept - we don't know before everyone jumps in) to take control of the club. Fenty accepted (its his personal business anyway) but then looked at what Shutes would be investing / offering the club going forward post Fenty

Two entirely different things IMO, the offer to Fenty is totally seperate and was accepted separately. As someone else pointed out Fenty could just take his money and run and intercourse the clubs future - he's not doing that and for that I thank him for it.

I'm surprised you didn't find out Swin in your newly adopted role as a 'paragon of virtue'

Enable has just won here at York.  Equalling Frankel’s record of 10 Group 1 winners.

Could “Enable” winning be an omen for the take-over happening?

I am a bit confused why does a millionaire  developer not have a trainer to teach his ducks to walk in a straight line surely he has more important things to do.

I struggle to get my head round the theory that JF has to come out and say he messed everything up in the last 15-20 years. I'm no fan of his but why would he do that and why should we expect him to? Just let him go with grace, hope the deal goes through and for a positive future

I thought this topic had a lot more pages. Have I missed something?

I have a genuine question.
How much money did John have to put into the club to keep us going when we went non league ?
I’m guessing that that’s how much ‘reserve’ cash the new owners would have to be able to
provide. I’m not saying how much did the club miss out on, just, how much to keep us afloat ?
I’m sure one of you stattos’s could tell me.

Quoted from MuddyWaters

I'm surprised you didn't find out Swin in your newly adopted role as a 'paragon of virtue'

If I knew I wouldn't make it public and anyway does it matter how much he has agreed to sell for?  Its not important, the point is he has not asked an amount that has put off a potential buyer in fact he has come to an agreement on the first figure put on the table.