The deal

To vote someone off the board doesn't require a vote in the boardroom, it requires an EGM. 10% of the shareholding is required to do this. As things stand the Trust and Parker are the only individual shareholders able to do so but it can be a collective group that come together.

It then requires a majority vote at the EGM. That would be tough given a large number of shareholders are uncontactable and Fenty holds 40% of the shares.

Hopefully it doesn't come to any of this and we get him gone.

Quoted from KingstonMariner

With respect Rob, you don’t know why he’s pulled out.

If it’s true that Fenty is insisting he’s still involved in running the club (and this definitely wasn’t part of the deal) I don’t blame anyone for pulling out. The other two should too in those circumstances.

Yeah, they probably should, if that is the case, although it probably means the end of GTFC if they do.

on twitter

Jason Stockwood
@jstockwood
I’ll tell you what would be a really ‘good’ Friday - a walk in the sun with the family, 3 points away at Salford and a bit of love and respect for each others differences and perspectives. #gtfc #utm #coulddowithawash
12:19 pm · 2 Apr 2021·Twitter for iPhone

Quoted from carrot top

on twitter

Jason Stockwood
@jstockwood
I’ll tell you what would be a really ‘good’ Friday - a walk in the sun with the family, 3 points away at Salford and a bit of love and respect for each others differences and perspectives. #gtfc #utm #coulddowithawash
12:19 pm · 2 Apr 2021·Twitter for iPhone

I don’t know much about Stockwood, but what I do know I like.

[quote=120785]

With respect Rob, you don’t know why he’s pulled out.

It should have been somebody else who had pulled out

I think the majority of fans are questioning the £2.5 million valuation. Not being a business man at all I would have thought the clubs assets are Blundell Park and the players, I’m guessing the training ground is leased so belongs to a third party so not included in the deal. So where does £2.5 million come from ?

Quoted from Gaffer58

I think the majority of fans are questioning the £2.5 million valuation. Not being a business man at all I would have thought the clubs assets are Blundell Park and the players, I’m guessing the training ground is leased so belongs to a third party so not included in the deal. So where does £2.5 million come from ?

as with anything gaffer, something is only worth what someone is willing to pay, (if that makes sense!)

Quoted from forza ivano

as with anything gaffer, something is only worth what someone is willing to pay, (if that makes sense!)

There is just over 2.8million of accumulated losses in the clubs accounts, this could be seen as an asset to any astute businessman and used to their advantage.
For example If the consortium were to purchase the club with with one of their companies, that could be written off a corporation tax bill and make the club actually free to purchase and still leave them over £300k ahead after paying off Fenty. I would imagine they have something like this in mind to be honest.

Quoted from Gonzo

There is just over 2.8million of accumulated losses in the clubs accounts, this could be seen as an asset to any astute businessman and used to their advantage.
For example If the consortium were to purchase the club with with one of their companies, that could be written off a corporation tax bill and make the club actually free to purchase and still leave them over £300k ahead after paying off Fenty. I would imagine they have something like this in mind to be honest.

This is a misunderstanding of tax law.  This used to be the case years ago but you can’t offset tax losses like this.

Quoted from Gaffer58

I think the majority of fans are questioning the £2.5 million valuation. Not being a business man at all I would have thought the clubs assets are Blundell Park and the players, I’m guessing the training ground is leased so belongs to a third party so not included in the deal. So where does £2.5 million come from ?

The value of Fenty’s shares and the loan account, I think.