Latest GTFC Financial Results Released...

Its true to say even when the loans are gone there is the small matter of buying out the shares, sorry but this tumour is deeply embedded and no operation can remove it.

False promises every season about better budgets/grounds/players is just a ploy to get some money back in the coffers and get some pennies back in the pocket.
What probably started off as a conservative PR stunt to get his face in the media has become a Stalinist grip on power in which he enjoys seeing the people suffer whilst he sits upon his throne taking the money from their wallets to pay for his toy.
Not been this season as im fed up of it, its not Jolley, think Jolley doing a decent job given the tools.
Dont think i will go again while the current board sit as the vision and action shown by them is urine poor.

Sorry but im a very depressed Mariner. A man can only take so much and i have broken.

Quoted from MuddyWaters

Given that we're unlikely to make similar profits every year, that means at least six more years! And furthermore, are we taking £150k plus out of the playing budget year on year to facilitate the pay-back?

I agree. The original comment was slightly tongue in cheek and optimistic. But what are you going to do to change things?

At the moment paying back the loans is the only show in town. Whilst the debt is there it makes it that much harder for any other potential owners to take over.

There is plenty wrong with B.P.and the set up but if you don't want to go then don't go. Obviously there is not enough money for all the things we all want but I go to watch Town because I enjoy going. Who can do the job better in the present climate. Whatever "supporters" views are on the rights and wrongs of the board they must be given some praise for our existence. We could so easily have been playing on Hardy's Rec. There is a get together in B.P. at 3-0clock on Saturday for the Newport game-Please attend.

Like others have said before, under Fenty's time things have not been what people expect.
However during our long footballing history we have always had good and bad times on and off the pitch (relegations, promotions, re-elections, non-league & financial problems).
We all want a stadium with 21st century facilities, I would rather have BP than Glanford Park, then look at Darlington, got a brilliant ground, but it cost them their league status.  Coventry FC did have a ground, now look where they play their home games.
The only have to look at the teams that disappeared from the Football league over the past 20 years (York, Wrexham, Halifax, Darlington, Hartlepool, Stockport, Chesterfield, Notts County, Torquay, Chester, Hereford) replaced with likes of (Crawley, Fleetwood, Cheltenham, Morecambe, Stevenage, MK Dons, Macclesfield, Wycombe, Accrington, Burton).
Lots of things had changed during those times, there is no longer any money in the town, its no longer a working man's game, EU destroyed the biggest industry in the town, follwed by most of the south bank factories closing or moving location, younger generation having to move away to find work.
Then we have the most backward council in the country, no investment in the town, when we needed it most, when the fishing industry was killed off.  Our council has being playing out a Brexit style play over the last 30 odd years, Labour, Conversatives and Lib Dem councillors, blocking based on party politics, rather than doing was is best for the town.
We have heard about a regeneration of the town, 20+ years to late, the likes of Liverpool, Bristol, Portsmouth & London etc have already regenerated their docklands, we dip into the pot, when they is naff all left.
This town is a poor mans Bournemouth on the east cost, nothing to do for families anymore.
Years ago we would be sat in a pub, talking about all this, rather, than typing on a device, how times have changed.

I know that come Saturday, I will be at BP watching the mariners, at our ground, in the football league, a club run within it's means.  I wonder what the Bury fans, will be doing.

Well said Yard Dog! You've hit the nail sqaurly on the head. I agree with every silible you have written.

Unfortunately I can't see it changing soon. The only catalyst to change is if we become successful on the pitch, but I'm not holding my breath on that happening any time soon.

Although I don't disagree that the council will always tend to argue and bicker on a party political basis, there simply wasn't any money available to regenerate the town until recently. Central government didn't provide any money and the local authorities weren't allowed to borrow any money to invest so what could really be done?

Not right to blame them for not investing/redeveloping when they just couldn't afford to do so!

Quoted from Bigdog

Profit, loss, loans paid, loans unpaid.. what does it matter in the grand scheme of things unless there's significant change?

Managed to return to BP after more than ten years away recently and was pretty shocked when looking around. Expected it to look a little more spruced up after the claims from the club and expected a little more in the way of better facilities and club/customer interaction. Amazing what a false image a few photos online can project. It's even scruffier and much more soulless than I remembered.

I'm sorry to say.. all I saw was a decaying club/ground with a sparseish home support made up of a majority of middle-aged to old-aged men going to a game out of duty or hanging on to the dying embers of a love affair. No buzz, no excitement, no sparkle and the football wasn't any better.

Maybe it's only clearly apparent when visiting once in a blue moon. Fairly upsetting to witness first hand evidence of what I've perceived for a long time to be a slow and painful demise without significant investment arriving from somewhere.

There's competence in balancing the books but there's no glory or credit to be given in it. Far from it. Any accountant can do that. A football club's performance is not solely measured on a balance sheet or a profit and loss account. Just look at our facilities, look at our team over the past few years. We look and sound like a football club lying there on a life support machine compared to most of the 91. Nothing more , nothing less. Anyone who can say anything else is fairly deluded or blindly loyal imho..

I wish things were different.. but they just aren't..

While I would agree with most of what you say ,the bit about accountants doesn't really ring true .This can be demonstrated when you consider how many football clubs have either gone down the pan or have been in serious financial difficulties under the watchful eyes of "competent accountants ".

So if over the next few years Mr Fenty eventually gets all his loan back, and he probably takes some money each year for expenses when on official town duty, will it mean that he has had complete control for no expense at all. I assume that his loan is interest free so if he had put that money into a building society he would have had a bit of interest. If the above is correct, and I know there will be someone on here to put things right if incorrect, it doesn't seem to have been too bad a thing for him, and I understand there was always the possibility of him losing it all if the club had gone mamaries up, unless he was in a position where he would have been a privileged creditor.

It's the amount of shares you hold that dictate the control of the club. If you have more than 50% of the total no. of shares then you have overall control of the club.  If you have less then you can be out voted by the rest of the shareholders.

Quoted from mimma

It's the amount of shares you hold that dictate the control of the club. If you have more than 50% of the total no. of shares then you have overall control of the club.  If you have less then you can be out voted by the rest of the shareholders.

Not quite correct. JSF owns less than half of the shares, yet he controls the club because of the money the clubs owes him and because he has guaranteed to cover any overdraft up to a certain limit. There is a statment in the accounts to this effect.

Very often the real people who control companies are the banks