Its happening!!! The takeover!!!

Quoted from RonMariner

I think that we can conclude from the interview that this is a very serious development, not some media speculation.

It sounds like Shutes is definitely trying to buy the club, and has been for a year, and that Fenty is keen to sell, providing he can be sure the club would be left in safe hands.

No doubt the fate of the loans is a major factor in the negotiation and potentially a major stumbling block. I guess it will come down to whether Fenty accepts that he has to take a write off of all or part of the loans. He has previously said that no previous Director has had to suffer such a loss. But after 19 years he may be willing to soften this stance in order to move out of the firing line.

We shall see.

I hope that things get resolved quickly though because new ownership might mean a higher budget, and many of the better players will be snapped up in the coming weeks.    

This is why things take time, because no matter what we say about Fenty, he won't let us go to just anybody who has a bit of money, and I do like him for that

The latest from Fenty himself.

https://www.grimsbytelegraph.c.....r-john-fenty-3011716

Quoted from RonMariner

I think that we can conclude from the interview that this is a very serious development, not some media speculation.

It sounds like Shutes is definitely trying to buy the club, and has been for a year, and that Fenty is keen to sell, providing he can be sure the club would be left in safe hands.

No doubt the fate of the loans is a major factor in the negotiation and potentially a major stumbling block. I guess it will come down to whether Fenty accepts that he has to take a write off of all or part of the loans. He has previously said that no previous Director has had to suffer such a loss. But after 19 years he may be willing to soften this stance in order to move out of the firing line.

We shall see.

I hope that things get resolved quickly though because new ownership might mean a higher budget, and many of the better players will be snapped up in the coming weeks.    

Such a loss?  Has he said that?  The way I see it is he's gradually been clawing back his loans during the years where the club has made a profit.  This has resulted in us having a below par playing budget most seasons.

This means the benign loans must have reduced slightly year-on-year, so presumably the £2m he's put in is now around £1-£1.5m or so?  This is guess work of course, but seeing as he owns the club and all it's assets, including Blundell Park, I don't see that he has made, or will make, a loss at all.  In other words, after over 15 years of largely under-achieving, Fenty will walk away with a clean slate.  There aren't many club owners who, after they've moved on, can actually look at having no accumulated debt from owning a football club; it's supposed to come with the territory.

Other than his hair going grey, and generally being quite unpopular with the fans, he'll pretty much get away with it in fine style if he gets his money back.

Quoted from 139847

I'm sorry, but just because I didn't take scrupulous account of all minor members doesn't mean I'm a bullshitter. Again, if you don't believe me just inbox me and I'll explain / prove with hard evidence that what I say is directly from a director

Butty, I don't know where you're going with this or what you're trying to prove. You posted a few pages back "Sadly I'm afraid it's all tosh apparently"

Today Fenty is in the GET saying talksHAVE been held. With Shutes. That is not tosh by any means and no amount of inboxing you will change that.

I'm not sure what speaking to the media actually achieved.

If nothing else, it confirmed that the board has been talking to Tom Shutes and things are progressing. Everything else is up in the air and left to speculation, again.

There was a lot of filler in there, from Fenty. Lots of empty words.

Fenty won't feel comfortable speaking to the media about any potential deal without consulting Shutes first, and visa versa. It's all bound to be cagey.

I expect us to get more of the nothingness until something concrete actually happens. No details, no updates. We'll know when it's done (or dead in the water).

I’d rather it was sorted out properly and miss the transfer window than end up with the wrong solution quickly. Much as I want to see the back of the current regime.

Patience people, patience.
I suspect that there is virtually no chance of this being sorted before the season starts. At best I would hope for it to be done by Jan transfer window.  But even then, I don't expect a massive injection of cash.
This is one hell of a project and will not be solved in the very near future.  But for me, the future of the club and the fact it 'hopefully' would be part of the community it what counts. This season  I'll settle for a slight improvement on the pitch, providing we can see all we hope for off the pitch.  At the moment, too many people my age and not enough youngsters etc going to BP.
We all know that our opinion of John and Johns opinion of John may differ somewhat. But if this opportunity enables him to walk away with some of his dignity intact, I don't have a problem with that.  
But these things do take time.  

UTM

Agree with the others about it being something that needs to be got right, rather than rushed.  GYFR  seemed to go about as far as he was able to this morning on the Radio whilst still keeping the discretion of others involved.

We can only keep our fingers crossed and wish GYFR and Mr Shutes all the best in their discussions.  If this comes off, then the club and town could be a in a very good place.

One possible thing in our favour, given the points raised above about being patient and letting the deal progress at its own pace is that the talks seem to go back a year or so.
Hopefully this has smoothed out some of the work, I'm not going to rely on a quick end to it or get my hopes up for things in place pre- season but I'm going to hope like hell it could happen.

I wonder how many have jumped and got there season tickets on the strength that it was all just about done and dusted.