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Trust statement

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forza ivano
December 25, 2019, 2:02pm Report to Moderator

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Quoted from rancido



But you still haven't named a successor or anybody remotely likely as a new owner. The benign loans suggests his pockets are certainly deeper than mine and more than likely yours.


Surely the point is that if you take fentys loans away,we dont actually need someone with deep pockets, as the club operates within its means, so could survive without him. We might even find people with money and/or ability coming forward if fenty departed the scene.fenty and his loans are a millstone round our neck as it stands
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ginnywings
December 25, 2019, 2:02pm Report to Moderator

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Quoted from fishboyUTM
The trust have a member on the board, therefore they are constitutionally required to publicly back any board decision irrespective of their own views. That's my understanding, feel free to correct me if I'm wrong.


They have 2 members on the board I believe and I assume they are free to vote any way they wish without pressure. Whether they do or not I don't know. Maybe the board are all genuinely in accord with each other. They do need to give the fans something to believe in pronto though, before they all give up and drift away.
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essexexile
December 25, 2019, 6:33pm Report to Moderator
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Quoted from Rik e B
Fenty and The Yes Men.


Wasn't it Shane Fenty & The Fentones?
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essexexile
December 25, 2019, 6:34pm Report to Moderator
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Big hit Moody Guy?
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TheRealJohnLewis
December 26, 2019, 8:53am Report to Moderator
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Quoted from rancido



OK, so JF says he'll write off the loans, sell his shares to whoever wants them, has no involvement with the club, walks totally away and then what? Where is this dynamic new owner with deep pockets willing to take over the club and run it for the benefit of the fans? Who will act as guarantor in the meantime if an owner isn't forthcoming immediately? There are so many concrete proposals on this site on what a lot of posters don't want but not one concrete, practical, legitimate and existing proposal that they do want.


If the scenario above happened, then ANYONE with business acumen, a vision and a willingness to engage with the fans could take on the club.  To start off with there would be no initial financial outlay, apart from £500 in shares to get onto the board. Obviously you would still have to be voted onto the board and voted as the chairman at an AGM.

You wouldn't need deep pockets to throw money into the club, at present it is run at break-even, so if the right person could grow the club then the money would be reinvested back into the club creating more growth and straight away we would be £200-250k a year better off as JFs loans wouldn't be hanging over the club.  At present, JF has a £325k debenture over the club as a guarantee, should there be a downturn in fortunes or unexpected outlay. If the club could achieve growth then they should eventually have retained earning which could be used as a safety net instead of a debenture. This is a long term plan to provide security for the club, so the alternative for a short term safety net would be to get a debenture off financial institutions, interest will have to be paid but this could be easily swept up by the extra £200-250, we are not paying JF each year.

All hypothetical, as JF, will not write off his loans. We should be a really attractive prospect, we have an extremely loyal fan base considering the last 20 years, we are underachieving, and could be playing higher up the pyramid.  



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