The deal

There was a lot of merit in the Ancient Athenian form of democracy. Just to pick one at random, ostrakizein.

Why do all these pottery shards have the initials FN on them?

Quoted from jamesgtfc

This is getting silly now and Senor Noche should be banned.

I hope for the sake of the club, Fenty gets gone as soon as possible because I wouldn't want to be him when our fate is sealed mathematically and we are still no closer to him being gone.

I always find it silly when somebody posts something that makes a bit of sense, if a little patronising, but doesn't tow the fishy party line of "it's all Fenty's fault". I guess the easy answer is to ban anybody that has a different opinion, so you can all smash your keyboards to the same tune.

It's obvious why Shutes pulled out. He's in it to make money, he's not a fan so there's no other reason. To make money needs a new stadium funded by the state. That looks increasingly unlikely in a post covid world and would likely require more money from private investors/himself which will mean less return. There's £1.5M in loans that need repaying within 3 years. If the club don't make that much profit, then they have to underwrite the loans and cost him more money. Because we're a PLC, they have to offer to buy every share at the same price they pay for Fenty's shares, that means up to £1M of potential extra cost. Fenty and Alex May were investing £2M between them for new training facilities before that became a scandal.

Anybody can see that the risk/reward isn't attractive. As somebody with no emotional connection to the club, it doesn't make sense for Shutes to have been involved. Leaving it until the last minute seems like a male private move to urine off JF. Terms certainly didn't change on the day of completion, because contracts would have been drawn up over a period of weeks after all parties have agreed terms.

Quoted from pen penfras

I always find it silly when somebody posts something that makes a bit of sense, if a little patronising, but doesn't tow the fishy party line of "it's all Fenty's fault". I guess the easy answer is to ban anybody that has a different opinion, so you can all smash your keyboards to the same tune.

It's obvious why Shutes pulled out. He's in it to make money, he's not a fan so there's no other reason. To make money needs a new stadium funded by the state. That looks increasingly unlikely in a post covid world and would likely require more money from private investors/himself which will mean less return. There's £1.5M in loans that need repaying within 3 years. If the club don't make that much profit, then they have to underwrite the loans and cost him more money. Because we're a PLC, they have to offer to buy every share at the same price they pay for Fenty's shares, that means up to £1M of potential extra cost. Fenty and Alex May were investing £2M between them for new training facilities before that became a scandal.

Anybody can see that the risk/reward isn't attractive. As somebody with no emotional connection to the club, it doesn't make sense for Shutes to have been involved. Leaving it until the last minute seems like a male private move to urine off JF. Terms certainly didn't change on the day of completion, because contracts would have been drawn up over a period of weeks after all parties have agreed terms.

You understand Shutes is a highly successful business man? A lot more successful than Fenty who made £14m (peanuts in comparison) selling his fish company to 2 Sisters who bought any food business they could as part of their rapid expansion in the 2000s and 2010s.

Who exactly makes any money out of football? Nobody. The average Championship club loses £26m a season. The losses in the Premier League are even worse. And then take a look at the accounts of L1 & L2 clubs. Colchester just reported a £2.5m loss for example.

To even suggest that a successful businessman like Shutes would even think that he could make money from owning a football club is bizarre. To suggest that this revelation only came to him at the eleventh hour and made him walk away is a joke.

It will all come out in the wash eventually (if the reason hasn’t already been disclosed).

Quoted from pen penfras

Fenty and Alex May were investing £2M between them for new training facilities before that became a scandal.

Still peddling that complete lie are we?

Quoted from jamesgtfc

This is getting silly now and Senor Noche should be banned.

FFS!

Quoted from jamesgtfc

This is getting silly now and Senor Noche should be banned.

I hope for the sake of the club, Fenty gets gone as soon as possible because I wouldn't want to be him when our fate is sealed mathematically and we are still no closer to him being gone.

You want to ban someone on a forum for having a different opinion to most . Really ?

Quoted from Knut Anders Fosters Voles

Without wishing to defend Mr Noche, what are ‘Head of Terms’?!

Agreement in principle...basically the deals particulars are agreed between both parties and then goes into the writing up and signing the legal documentation.

Quoted from ska face

Still peddling that complete lie are we?

Why is this a lie? You have absolutely no knowledge or evidence to the contrary, so it is the truth. What else was £1M of new shares going to be spent on?

Quoted from pen penfras

Why is this a lie? You have absolutely no knowledge or evidence to the contrary, so it is the truth. What else was £1M of new shares going to be spent on?

And, let's say there was £1m worth of shares in the hands of a bent b@stard, you'd be happy with that?..I know 99.9% of us wouldn't be, that is for sure!!.

Quoted from Northbank Mariner

And, let's say there was £1m worth of shares in the hands of a bent b@stard, you'd be happy with that?..I know 99.9% of us wouldn't be, that is for sure!!.

I've never said I'd be happy with that, and I think it was naive not to consider that this might be the way the fans felt about it. But the board discussed it and decided to accept the money on the basis that the bent b@stard wasn't a decision maker in the club.