Latest GTFC Financial Results Released...

So would player sales be the Dembele money?

Quoted from psgmariner

Keiran Maguire has done his usual deep dive on our accounts:

https://twitter.com/kieranmaguire?lang=en

TLR

Praises us for showing that lower league clubs can be transparent, break even and get accounts out quickly.

Income up 12% mainly due to broadcast revenue

Profit made through player sales and loan income

Wage bill up 5%

£46,000 spent on transfers

Fenty recouped £250k but still £1.55M outstanding

Committed to spend £107k on new ground plans (don't get much for that!)

I believe part of the reduction in the loan account was to pay back the Mullens' loan.

Quoted from Cambs Mariner

I believe it is 51%.
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51% gives them overall control, what I believe he is referring to was when someone buys shares there are triggers in place where they have to offer all existing shareholders the option to sell at the offered price,
MP was caught out by this and ended up gifting shares to get around it,  I think we have 3 trigger points in our buy out agreement the first is around 33%

Quoted from FishOutOfWater

Furthermore he states

Grimsby total losses over the years just under £3m. Club technically insolvent but not an issue whilst directors continue to back it.

How did we manage to lose that amount of money??  Got to say I am a bit shocked about that.....

I think this is meant to reflect the amount the club have in assets against the on the book dept ie directors loans and other creditors which is total 3m
Like it says this last financial period we made a small profit  so the club is still solvent, if the Creditors where to call all the dept in though then that would be another story.

On the surface, those figures look really good.

It would be interesting to see where we compared to clubs in and around is compare in terms of turnover and where our revenue is coming from.

Quoted from SomeSanity

On the surface, those figures look really good.

It would be interesting to see where we compared to clubs in and around is compare in terms of turnover and where our revenue is coming from.

Please explain to me how 'technically insolvent' equates to 'really good'.

Quoted from 137

Please explain to me how 'technically insolvent' equates to 'really good'.

This is Town we're talking about so any situation that "could have been worse" is also "really good".

Quoted from SomeSanity

On the surface, those figures look really good.

It would be interesting to see where we compared to clubs in and around is compare in terms of turnover and where our revenue is coming from.

I fail to see how accumulated losses of that magnitude are 'really good' especially in light of the lack of any saleable assets.

Quoted from MuddyWaters

I'm still slightly bemused as to why this might be a good thing bearing in mind the losses & loans racked up due to the mismanagement of the club.

Exactly. The debt was racked up by Fenty’s mismanagement. Paying off terrible management appointments and useless players.

By the end of this season Fenty would have taken around £850k from the club that could have been better spent on improving the facilities and infrastructure at the club. For example it would cost a fraction of that to implement a new ticketing system where you can pick your seat, print tickets at home and have scanners on each turnstile.

Quoted from GollyGTFC

Exactly. The debt was racked up by Fenty’s mismanagement. Paying off terrible management appointments and useless players.

By the end of this season Fenty would have taken around £850k from the club that could have been better spent on improving the facilities and infrastructure at the club. For example it would cost a fraction of that to implement a new ticketing system where you can pick your seat, print tickets at home and have scanners on each turnstile.

... and he could also not have lent the club any money and see it go under. There are always more than one way to interpret the situation.