I have been informed that heads of terms have been agreed between John Fenty and the consortium for the sale of his shares and the repayment of his director's loans. There will be no further comment on the sale from either side until legal formalities have been completed and EFL approval has been obtained.
Brilliant news However, didn’t the Chairman issue several statements last week. I am hopeful but will keep my brass till all the formalities are complete. Let’s hope for better news on the pitch, starting tonight.
I have been informed that heads of terms have been agreed between John Fenty and the consortium for the sale of his shares and the repayment of his directors loans. There will be no further comment on the sale from either side until legal formalities have been completed and EFL approval has been obtained.
Great news, but what exactly are "heads of terms?"
I have been informed that heads of terms have been agreed between John Fenty and the consortium for the sale of his shares and the repayment of his directors loans. There will be no further comment on the sale from either side until legal formalities have been completed and EFL approval has been obtained.
Great news, but what exactly are "heads of terms?"
It’s a bit like Brexit, no deal until it’s signed, and this time can we have more fish please.
I have been informed that heads of terms have been agreed between John Fenty and the consortium for the sale of his shares and the repayment of his directors loans. There will be no further comment on the sale from either side until legal formalities have been completed and EFL approval has been obtained.
Great news, but what exactly are "heads of terms?"
More or less, the dot points of each section of the agreement.
(Not legally binding).
"Knowledge speaks, but wisdom listens." (Jimi Hendrix)
Blessed relief. And to be honest a surprise. The pressure must have got to him.
“If all mankind minus one, were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.” ― John Stuart Mill, On Liberty."
Last week the departing manager and the club told us that Fenty had sold his shares, he hadn't.
It would be just like them to announce this then the EFL to strangely object.
And when you fall back into the mud it hurts a lot. No! None of it was true, none of those things we thought we could see existed at all. All that was really there was still more misery
I have been informed that heads of terms have been agreed between John Fenty and the consortium for the sale of his shares and the repayment of his directors loans. There will be no further comment on the sale from either side until legal formalities have been completed and EFL approval has been obtained.
Great news, but what exactly are "heads of terms?"
It's a short-form agreement, laying out in an edited form the main points of an agreement or contract.
Walking up near the boating lake and stopped to take a picture of a double rainbow. Had a quick look at the fishy to see if there was any news and Wham! There it is. The rainbows have now gone and the sky has brightened.
Gobsmacked. Delighted. Not daring to believe it will happen.
This isn’t the end. It’s not even the beginning of the end. But the end of the beginning.
Also, I’m going to have to watch now 😂
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.
I think the consortium’s statement was the final nail in the coffin. Seminal day in the history of our great football club. I just hope we can hang on to our football league status this season given the mess that the new owners have been left to deal with.
It's been a difficult few weeks for everyone. excrement flung from both sides, some fair and some probably unfair but one thing is certain, whatever side of the fence any of us sat on, this heralds a new start for everyone.
Just heard the news. What a great end to a crappy year! Seriously, this is fantastic news. The first ever post I put on the fishy was 4th May 2014 after town failed to get in the playoff final. It was an anti Fenty post. It was plain to see then that he was failing the club. Six years on he continued to fail the club and community. But now his reign is finally over. Words cannot describe the joy I’m currently feeling and to top it off the potential of Shutes, Stockwood and Petit owning our club fills me with belief and hope for our future. Watch out everyone, here comes THE MIGHTY MARINERS!!!!!!!!!!
Now we have to get a management team in place asap (Cowleys please!).
Then we have to give them the funds to bring in half a dozen decent players in January to steer us well clear of the drop zone. i.e. players you actually have to pay for, not freebies that no one else wants. Though there is one free agent probably worth approaching, Ched Evans.
OK, Ok, I know about the baggage and in an ideal world we would pass. But we are desperate and he would score a hatful in L2. So be merciful with the red crosses!
I wasn't thinking on those lines. It is obvious that from recent revelations that JSF had been less than honest with players and managers contracts. He could easily have acquired a reputation in the football world for his antics. It's quite possible that "trust" comes back in all our dealings.
The Future is Black & White. "The commonest thing on this planet is not water , as some people believe, but stupidity ". Frank Zappa
Thankyou to Schutes, Stockwood and Petit for not giving up. Shows the passion they have already for our football club as it would of been so easy to walk away after having there name dragged through the mud by Day and Fenty. I fully believe we are on the up. #UTM
'I walked in the dressing room. The window was open and I thought that a sea fret had got in. Then I saw smoke billowing from a pipe in the corner of the room...it was my centre-forward. He looked seven stone wet through. He went on to score thirty-odd goals that season.' Lawrie McMenemy on encountering the legend that was Matt Tees.
I've got the same fantastic feeling I get when I've had a really good sh*it, a sh*it that's taken maybe 3 days to get rid of it! Even though it takes 3 or 4 flushes to send it off, it goes in the end! The only unknown bit is how much sh its been left behind to wipe away!
I wasn't thinking on those lines. It is obvious that from recent revelations that JSF had been less than honest with players and managers contracts. He could easily have acquired a reputation in the football world for his antics. It's quite possible that "trust" comes back in all our dealings.
Maybe so but in the end its money in terms of how much we will pay in transfer fees and wages that will determine who comes to GTFC
We will still be playing in a decrepit old stadium (and many players will be retired from the game before the new one is ready) on the very edge of the country
The new owners might be a more attractive prospect but in football money rules, lets hope they get the cash out!
On bended knee is no way to be free - Peter R de Vries
Maybe so but in the end its money in terms of how much we will pay in transfer fees and wages that will determine who comes to GTFC
We will still be playing in a decrepit old stadium (and many players will be retired from the game before the new one is ready) on the very edge of the country
The new owners might be a more attractive prospect but in football money rules, lets hope they get the cash out!
Maybe so but in the end its money in terms of how much we will pay in transfer fees and wages that will determine who comes to GTFC
We will still be playing in a decrepit old stadium (and many players will be retired from the game before the new one is ready) on the very edge of the country
The new owners might be a more attractive prospect but in football money rules, lets hope they get the cash out!
I know what you mean but if the same wage was offered by GTFC under JSF and another club then JSF's "reputation" cold be a deciding factor. The Consortium have already said that a new ground is in their plans for a larger development in Grimsby - that in itself brings optimism and attraction. Their first test will be who they get as manager and what they changes are made to the current Board.
The Future is Black & White. "The commonest thing on this planet is not water , as some people believe, but stupidity ". Frank Zappa
So do these new owners have lots of moneys then Paul Hurst Black White army with some money behind it could work not paying the players their worth has always been our downfall
Without stealing another poster's non-de-plume I'm a realist
Decent players aren't going to come to BP simply because Fenty has gone and a new firm has taken over. Its still about money even you know that.
You're right. I'm pleased Fenty is going, but we remain second favourites for relegation. I hope the news guys have some immediate ideas or we're just celebrating a different guy signing the wage slips each month.
Without stealing another poster's non-de-plume I'm a realist
Decent players aren't going to come to BP simply because Fenty has gone and a new firm has taken over. Its still about money even you know that.
And you are absolutely right, no one can deny it.
Better league 2 players demand better money, it is as simple as that. All this about Grimsby not being able to attract players because of location, motorway links and all the rest will disappear* when we offer good money to the main men in the team.
*Or at least be no more important than other league 2 clubs.
It's a short-form agreement, laying out in an edited form the main points of an agreement or contract.
or something written in plain English that everyone can understand that lawyers translate into something only other lawyers can understand, charging vast fees at the same time.
Won't celebrate until confirmed but praying for a better year ahead for the Mariners, decisions made in January will determine whether Town will still be playing in League Two next season.
Just told the wife we have won the lottery then she punched me when I told her the club had been sold i cannot quiet believe it's happening. but hopefully with Hurst in and a few decent signings we can escape relegation which is a real possibility if we don't be careful also would love to see john McDermott back in some capacity as the way he's been treated over the years by the buffoon in charge is criminal given what he did for our club over 17 years onwards and upwards here's to the holy trinity and the future UTM
or something written in plain English that everyone can understand that lawyers translate to into something only other lawyers can understand, charging vast fees at the same time.
there is just 1 potential fly in the ointment
it has been intimated that Fenty wouldn't allow the Holy Trinity's accountants to look over the books. I just hope there are no skeletons hiding in the cupboard that Fenty neglected to tell them about.
it has been intimated that Fenty wouldn't allow the Holy Trinity's accountants to look over the books. I just hope there are no skeletons hiding in the cupboard that Fenty neglected to tell them about.
You can bet your life there are some on here daft enough to think we might!
Nah. Wikkers doesn't post here anymore.
And when you fall back into the mud it hurts a lot. No! None of it was true, none of those things we thought we could see existed at all. All that was really there was still more misery
Although I am not planning to officially celebrate until everything is finalised, I am planning to have a warm up trial celebration.
I am testing a very nice white wine in the build up until teams are announced. Then a few hand crafted lagers till kickoff A nice red wine until we concede the first goal. If we look like getting a win or a draw I’ll continue with nice red wine If we look like losing, I have a nice Polish vodka called Bison Grass. After a few of those I won’t remember the result anyway. Time to sober up before January 2 when we take on Cambridge with a new manager and hopefully can watch on iFollow with confidence
I spent £20 on the euro lotto this afternoon in the hope I might win enough to buy Fenty’s shares, what am I going to do with my potential winnings now ?
Dead Eye Dobbin stood motionless waiting, waiting, waiting for the ball to arrive. Back came the right foot, Down came the right foot, Bang ! Headlines around the world as the ball flew into the very top right hand corner of the goal.( Jim Dobbin scoring in the 89th minute for Town against Newcastle United away 24/10/1992 )
I spent £20 on the euro lotto this afternoon in the hope I might win enough to buy Fenty’s shares, what am I going to do with my potential winnings now ?
I spent £20 on the euro lotto this afternoon in the hope I might win enough to buy Fenty’s shares, what am I going to do with my potential winnings now ?
Welcome Spurnboy. U r off to a good start. Hope u contribution and feedback is successful Please be aware of recent troll activity which has made some of us nervous
Definitely not a troll, followed the mariners from the early 80’s but not been to a game for a few years now although members of my family are season ticket holders. Lost interest in going to watch Town during the Fenty era so hoping things will improve with the new consortium. UTM
Dead Eye Dobbin stood motionless waiting, waiting, waiting for the ball to arrive. Back came the right foot, Down came the right foot, Bang ! Headlines around the world as the ball flew into the very top right hand corner of the goal.( Jim Dobbin scoring in the 89th minute for Town against Newcastle United away 24/10/1992 )
How long would it take to go through all the legal formalties and make it all offical? I guess 2-4 weeks?
I work in a business where we we transfer ownership of shares brining new directors as departing ones exit. Once HOT are agreed we can turn them around in 3 weeks at a push.
"Crombie you would have got to that if you weren't such a fat ba%$@rd" - George Kerr, inspiration from the dug out 70s style
if it takes 3 weeks top conclude the deal then it is imperative that the managerial appointment is made before then, otherwise it is unlikely that the new manger can bring in the players we need during what would remain of the January window.
Get in Just got home from work to this great news. Onward and upward.
Town can be great again. UTM
In his three stints as Grimsby Town manager spanning over 10 years the club was never relegated and he also guided them to three promotions. Only 14 managers have reached 1,000 matches in charge of a Football League team by 1998 and Buckley is one of them. GOD
What happens to Phillip Day once the takeover is complete?
Climbs back into Fentys pocket and felicitations off into oblivion with him.
In his three stints as Grimsby Town manager spanning over 10 years the club was never relegated and he also guided them to three promotions. Only 14 managers have reached 1,000 matches in charge of a Football League team by 1998 and Buckley is one of them. GOD
Location: Clowns to the left of me, jokers to the right, stuck in the middle...
Approval:+7,264
Gold Stars: 295
I don't think a new manager has to wait for the business to be transferred formally....
1. Fenty may have agreed that the day to day running of the club can pass to the new 'potential' owners subject to the final terms etc
or
2. A new manager doesn't have to be employed by the club, he could be employed by a 3rd party and put into the club as a consultant/contractor
or
3. A new manager is brought in by the club but his contract stipulates that if the deal falls through he can walk (assuming it's a 'he').
Or
4. The current board continues to run the club on a day to day basis but all major decisions (like a new manager) have to be signed off by the new owners. This also ensures continuity and a sensible handover when the deal is finalised.
I think 4 is the most likely.
Miss Scunthorpe. Not a beauty pageant, just sound advice.
For once Fenty has done the right thing, long overdue change, pleased it hasn’t dragged on into 2021 and it has been agreed.
Expect him to be back as deputy council leader before too long he won’t stay out of the public eye.
I don't think he's done the right thing. First of all there is the lack of responsibility taken for his decisions (i.e. loans to cover his losses), then there's the shares he weaselled out of the Trust. So he's done good business for himself, but not the right thing.
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.
Today has been a very good day for Grimsby Town Football Club. Yet I don't consider it a day for celebration, at least not until I know for certain that the deal has been completed. When I heard this afternoon that an agreement had been reached between the consortium and John Fenty, my overriding emotion was one of pure relief that good sense had finally prevailed. While I was prepared to do what was in my power to bring about change, I had also hoped and prayed that it would not be necessary.
What we have now, assuming everything goes smoothly over the coming weeks, is the chance of a fresh start. I don't expect the new owners to lead us to some sort of footballing promised land. None of us should. But there is much greater cause for hope about our future tonight than there has been over the last few days.
Really pleased to hear that Fenty has finally agreed to sell his shares.
Hopefully with this new consortium coming in, we'll see promising changes and a rise up the table for you. It's the least you deserve after the endless years of shoddy treatment from a mis-managed board.
Good luck chaps - Hopefully it's a step forward for you!
Cheers Andy. Good luck to Darlo on their rise back to the League. You’ve had more than your share of misfortunes and convicted felons involved in your club - think we just dodged that bullet - but your supporters have rallied around, worked hard and built from the ground up. Consequently you deserve the success.
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.
That’s a good sign. One, it calms the nerves during this naturally quiet period in the process. Two, it shows the consortium realise the value of good supporter engagement to the club and to their investment.
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.
An interesting line in the minutes from the trust meeting that were put out suggests that Alan Rutter often attends GTFC board meetings alongside the two Trust board members.
Can the thread title be changed to ‘Fenty’s going, subject to contract, tell me Ma, me Ma to put the Champagne on ice, the new ground’s by the Factory Ice’
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.
An interesting line in the minutes from the trust meeting that were put out suggests that Alan Rutter often attends GTFC board meetings alongside the two Trust board members.
'A riddle wrapped up in a mystery inside an enigma'
'A riddle wrapped up in a mystery inside an enigma'
Are you saying Rutter is like Molotov?
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.
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.
If he manages to survive in any formal capacity within spitting distance of The Board then quite possibly. I was thinking more of the situation rather than the man. He may be a useful ' continuity with change' figure but the parallels with the post Stalin era are less than comfortable. Churchill (thanks Wiki) had the job of trying to second guess what Molotov was up to. As part of Kruschev's team he was very defensive of Stalin's rule.
Thanks for reminding me of the only watchable TV over New Year. 'The Death of Stalin.'
Thanks for reminding me of the only watchable TV over New Year. 'The Death of Stalin.'
Armando Ianucci is a genius isn’t he?
I wanted to see ‘The Death of Stalin’ when it was released but the thought of going to a cinema brought back memories of terrible dates, sloppy tongues revolving like warp speed Zanussi washing machines and finding bits of popcorn in my pants for the next week.
I was a bit disappointed on first watch. I’ve watched it four times since on iPlayer and it’s got better each time.
It’ll never be quite as good as early Partridge, The Day Today or The Thick of It / In The Loop but it was definitely the best bit of TV over Christmas.
If he manages to survive in any formal capacity within spitting distance of The Board then quite possibly. I was thinking more of the situation rather than the man. He may be a useful ' continuity with change' figure but the parallels with the post Stalin era are less than comfortable. Churchill (thanks Wiki) had the job of trying to second guess what Molotov was up to. As part of Kruschev's team he was very defensive of Stalin's rule.
Thanks for reminding me of the only watchable TV over New Year. 'The Death of Stalin.'
At the risk of this getting shifted to non-football, I enjoyed the Death of Stalin too. I don’t know much about Molotov. Didn’t realise that he lived into the 80s. So I see what you mean about being a survivor.
All I knew of was his infamous pact with von Ribbentrop, and inspiring the Finns to name the improvised incendiary device after him because he was a big fat liar! 😁
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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