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 Ipswin |
| November 24, 2020, 6:32pm |
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Vodka Drinker  Posts: 6,592
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Then I would leave the running of the club to somebody who loves town as much as me.
That will be John Fenty Pete By the way if you win I do not want to hold onto my shares You can certainlky buy them but it is really going to cost you big time |
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| moosey_club |
| November 24, 2020, 8:08pm |
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Barley Wine Drinker  Posts: 16,183
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Tell you what, if I had the chance to do it I’d run it a damn sight better than these lot. A few months ago our social media guy went on holiday and the club went to flipping pot, Fenty and Day can’t even get the very basics right and fail to see the value in the small things that’d make a huge difference.
1. I did get an emailed response from Dave Roberts(who’s response was fantastic) today, the figures quoted are flipping eye watering and it’s absolutely no wonder nobody has taken us on, Fenty’s stranglehold is way worse than I thought.
As a fan base with good fund raising and innovation we could come up with it, that or raise enough attention for people that do have the money to do it. However this thread has demonstrated our fan base are just as willing to accept dross as our major shareholder is willing to deal it out in bucket loads.
2 . It’s beginning to become obvious why our club and our town are in such a mess, it’s the inward looking people in it that are the issue.
1. Would you care to share the eye watering figures then so we can decide if its worth getting started ? 2. So its all our fault then ? Nice way to get us on board with your takeover plan .  |
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| 140067 |
| November 24, 2020, 9:46pm |
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Ha ha let the fans run the club. No chance of agreeing just look at the bile on here.
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| KingstonMariner |
| November 24, 2020, 10:22pm |
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Meths Drinker  Posts: 22,096
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Fan owned clubs will only work if the fan-base pull together and then stick together through the good/bad times.
You only have too look at Scarborough when they went bust and that fan-base divided between Scarborough fans and I'm sure that at 1 point - There was 2 teams in the town due to divide.
This happened with Northwich Victoria aswell, 2 teams were set up and fans were divided.
The same is happening at Bury right now, most are in favour of the phoenix club and some are still in hope the original will be placed in the football ladder for the 21/22 season.
Thankfully, us at Darlington have stuck together and now it's our club - We are doing well off the field for the 1st time in a long time.
- We've raised collectively 1.5 million pounds in 8 short years to fund our 3 promotions.
- Paid off the legacy debt that Raj Singh left us in back in 2012.
- We've even clubbed together and bought stands for our temp home at Blackwell Meadows.
- We've got no debt currently
- For the away game at Bristol Rovers in the FA Cup this weekend, we've raised an additional £3750 to pay for the players to have a hotel stay the night before for better prep (something we rarely do at the moment).
- Every season we top up the budget with the #BoostTheBudget - This season we raised a grand total of £131,910 for our gaffer Alun Armstrong. We put extra in, because we know that the club is being well ran and we know where every penny goes.
- Since the start of this season, we've did 50/50 draws online for each game. We've played 7 home games so far, we've had over £10,000 in the pot - At least 5k to the winners and 5k to the club - It all adds up.
My advice is: Stick together. Don't let Fenty and co bring you down - You've got a cracking fanbase (I've been to home and away games with Town in the last 10/11 years). You deserve some more success than what you currently have, don't lose that hope - It'll come good before you know it. If we can do it on our small fanbase of 1500/2000 fans, you can do it on your 3500/4000 easy.
You lot are as loyal as you come, you're also my adopted second team since it's the hometown of my daughter, keep the faith. Can't wait to get fans back at the game and I can be alongside my mates at an away game watching Town.
#UTM
It's no good coming on here with positive examples Andy. People like to believe that we can't do it. |
| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| KingstonMariner |
| November 24, 2020, 10:46pm |
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In the latest accounts Directors' Loans are £1,550,000*. Nothing was paid back over the last year. The last time that Directors' Loans increased was 2015 (i.e. the year of the Bristol Rovers play-off) when they went up to £2,244,550. So in the last 5 years £694,550 so an average of just under £140k paid back each year.
* The last time they were lower was 2008.
Called up Share Capital is £2,291,300. Anyone who is not currently a shareholder would have to offer to buy all shareholders out if they want 51% of the club. Hence the £3.8m figure someone mentioned above. Fenty owns 43%.
On top of this there is other debt.
Then there is the guarantee of £325k (presume this is a guarantee to lend the club more money. So to meet the board's demands, an outside buyer would have to have over £4.1m available.
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| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| MuddyWaters |
| November 25, 2020, 10:50am |
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When I win the euro 120 million tonight I will buy all the shares pay back his loans then tell him if he is such a big fan he can pay to watch town in our super duper stadium like everybody else.
Then I would give back the shares to the true fans with a bonus.
I would only hire people from the board down to the gate man who have the club at heart and are true fans.
Then I would leave the running of the club to somebody who loves town as much as me.
Then like Trump I would hire the rest of the family to do certain jobs like driving me to every game while I sit in the back watching a video with a glass of bubbly.
If you are going to dream.
Dream big !!!!!!!!!!!
Did you win? 🥴 |
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| TheRealJohnLewis |
| November 25, 2020, 11:08am |
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Fine Wine Drinker  Posts: 1,250
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In the latest accounts Directors' Loans are £1,550,000*. Nothing was paid back over the last year. The last time that Directors' Loans increased was 2015 (i.e. the year of the Bristol Rovers play-off) when they went up to £2,244,550. So in the last 5 years £694,550 so an average of just under £140k paid back each year.
* The last time they were lower was 2008.
Called up Share Capital is £2,291,300. Anyone who is not currently a shareholder would have to offer to buy all shareholders out if they want 51% of the club. Hence the £3.8m figure someone mentioned above. Fenty owns 43%.
On top of this, there is other debt.
Then there is the guarantee of £325k (presume this is a guarantee to lend the club more money. So to meet the board's demands, an outside buyer would have to have over £4.1m available.
As you have stated you would need to offer to buy all shares if you purchased more than half of the shares, but you would only need to buy out Fenty. So only £975k for shares and £1.55m for loans. The £325k is only a promise of further funds should the club needed, so you wouldn't actually need to stump up that money. The other debt does not belong to JF so you wouldn't have to give him that money. So you would only need £2.5m to buy out JF. All that needs to happy is a group that needs to come together and collectively have more shares than Fenty currently has. If the top 5 shareholders who are not on the board. Mike Parker, (500k), Trust, (321k), Mullens (130k), John Elsom (75k). that gives them just over a million (45%) and they would be deemed as having effective control. I doubt the trust would go against JF though. This would then test JF and the claims that he is a true fan, as to whether he demands his loans back immediately and puts the club at risk for his own selfish reason.. |
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| grimsby pete |
| November 25, 2020, 11:09am |
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Did you win? 🥴
No not this time  |
| Over 36 years living in Suffolk but always a mariner.
68 Years following the Town
Life member of Trust
First game April 1955
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| pen penfras |
| November 25, 2020, 1:11pm |
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 Cocktail Drinker  Posts: 1,687
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As you have stated you would need to offer to buy all shares if you purchased more than half of the shares, but you would only need to buy out Fenty. So only £975k for shares and £1.55m for loans. The £325k is only a promise of further funds should the club needed, so you wouldn't actually need to stump up that money. The other debt does not belong to JF so you wouldn't have to give him that money. So you would only need £2.5m to buy out JF.
All that needs to happy is a group that needs to come together and collectively have more shares than Fenty currently has. If the top 5 shareholders who are not on the board. Mike Parker, (500k), Trust, (321k), Mullens (130k), John Elsom (75k). that gives them just over a million (45%) and they would be deemed as having effective control. I doubt the trust would go against JF though.
This would then test JF and the claims that he is a true fan, as to whether he demands his loans back immediately and puts the club at risk for his own selfish reason..
It wouldn't test whether he's a true fan or not. It'd test whether or not he's willing to let other people play with his money, and increase the debt to him if they got it wrong. We already know the answer to that, like anybody else here, he isn't. |
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| TheRealJohnLewis |
| November 25, 2020, 2:42pm |
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Fine Wine Drinker Posts: 1,250
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It wouldn't test whether he's a true fan or not. It'd test whether or not he's willing to let other people play with his money, and increase the debt to him if they got it wrong. We already know the answer to that, like anybody else here, he isn't.
They wouldn't be increasing Fenty's debt, his debt would be sat there as if it was a bank loan. If they needed extra funds they would have to put in themselves or apply for a loan. It certainly would test whether he was a true fan. Virtually every single Town has entrusted JF to play with their money and he hasn't spent wisely! |
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