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Quoted from Norseman

Have they paid multiple millions to buy the club .There was allegedly £400,000 in the bank when they took over .Since then we have had the 160,000 for Ben grist ,240,000 for Mattie Pollock ,sell on money for dembele ,mcatee transfer money ,record season ticket sales and almost 1 million for promotion and about 300,000 for the FA cup run .All of which easily covered the money owed to Fenty .So looking at that buying the club has not cost them anything

Running a business is not all about income, there are the total expenses you have to pay as well.
They also had to pay the wage bill for the last 18 months, improvements to BP and Cheapside plus all other running costs and put in a further £250k to keep the club going.

Quoted from Norseman

Have they paid multiple millions to buy the club .There was allegedly £400,000 in the bank when they took over .Since then we have had the 160,000 for Ben grist ,240,000 for Mattie Pollock ,sell on money for dembele ,mcatee transfer money ,record season ticket sales and almost 1 million for promotion and about 300,000 for the FA cup run .All of which easily covered the money owed to Fenty .So looking at that buying the club has not cost them anything

I mean, you probably need to do a bit of research in to running a business and buying a business but, you may make a valid point, they’re obviously clever and shrewd if they’ve managed to buy a club, turn it around and get promoted within 18months and spent zero pounds…

Not sure how you’re turning any of what you’ve said in to a negative…weird…

Quoted from Norseman

Have they paid multiple millions to buy the club .There was allegedly £400,000 in the bank when they took over .Since then we have had the 160,000 for Ben grist ,240,000 for Mattie Pollock ,sell on money for dembele ,mcatee transfer money ,record season ticket sales and almost 1 million for promotion and about 300,000 for the FA cup run .All of which easily covered the money owed to Fenty .So looking at that buying the club has not cost them anything

Fenty just handed his majority shareholding (including the ones he bullied the Trust into 'donating' to him) over for free did he?

Quoted from Norseman

Have they paid multiple millions to buy the club .There was allegedly £400,000 in the bank when they took over .Since then we have had the 160,000 for Ben grist ,240,000 for Mattie Pollock ,sell on money for dembele ,mcatee transfer money ,record season ticket sales and almost 1 million for promotion and about 300,000 for the FA cup run .All of which easily covered the money owed to Fenty .So looking at that buying the club has not cost them anything

I think they purchased over £1m in shares. Had they walked in the door a month later I doubt the bank balance would have been £400k but they also committed to cover the £1.5m loan over 3 years. Transfer income took care of most of it but they still had to commit it.

When you consider what Swann is holding out for at Scunny, 1878 got a very good deal but I still don't think a potential £2.5m (£2.1m if you deduct the bank balance) outlay is great value for a club on it's backside with outdated facilities.

Quoted from jamesgtfc

I think they purchased over £1m in shares. Had they walked in the door a month later I doubt the bank balance would have been £400k but they also committed to cover the £1.5m loan over 3 years. Transfer income took care of most of it but they still had to commit it.

When you consider what Swann is holding out for at Scunny, 1878 got a very good deal but I still don't think a potential £2.5m (£2.1m if you deduct the bank balance) outlay is great value for a club on it's backside with outdated facilities.

Though the bank balance may have been £400k and to you and me that is and sounds a lot in terms of incom streams and costs I wonder what the break even figure was.

Quoted from HertsGTFC

Though the bank balance may have been £400k and to you and me that is and sounds a lot in terms of incom streams and costs I wonder what the break even figure was.

I imagine income is pretty minimal during May and June. For simple maths, a £1.2m wage bill is £200k of expenditure during that period. You would imagine any work done would be invoiced on terms of 30-60 days so that wouldn't necessarily be paid until the income starts rolling back in but bills from March and April would still need paying.

Quoted from jamesgtfc

I imagine income is pretty minimal during May and June. For simple maths, a £1.2m wage bill is £200k of expenditure during that period. You would imagine any work done would be invoiced on terms of 30-60 days so that wouldn't necessarily be paid until the income starts rolling back in but bills from March and April would still need paying.

👍

When 1878 partners Limited file their first accounts at Companies House ( now two weeks overdue ) we will know what they invested into the club . Facts we already know are that they spent £1.4m acquiring shares in Grimsby Town Football Club Ltd  from various share holders including Fenty and stopped when they reached around 75% ownership. We know there was £750 k cash in the bank in the football club not £400k . We know that they haven’t injected any money into the club as equity despite Jason saying early on all investment would be equity not loans for sustainability . We don’t know yet know what 1878 Partners Limited has injected as loans to cover payments to Fenty ,infrastructure or operational cash flow or if all this was covered by cash inflow from the various transfers, the initial cash they inherited and income . The accounts will provide an insight into that. Why they are choosing not to file the accounts on time a criminal offence for directors and resulting in automatic fines  for the company is also an unknown.

Quoted from HerveJosse

When 1878 partners Limited file their first accounts at Companies House ( now two weeks overdue ) we will know what they invested into the club . Facts we already know are that they spent £1.4 acquiring shares in Grimsby Town Football Club Ltd  from various share holders including Fenty and stopped when they reached around 75% ownership. We know there was £750 k cash in the bank in the football club not £400k . We know that they haven’t injected any money into the club as equity despite Jason saying early on all investment woukd be equity not loans for sustainability . We don’t know yet know what 1878 Partners Limited has injected as loans to cover payments to Fenty ,infrastructure or operational cash flow or if all this was covered by cash inflow from the various transfers, the initial cash they inherited and income . The accounts will provide an insight into that. Why they are choosing not to file the accounts on time a criminal offence for directors and resulting in automatic fines  for the company is also an unknown.

I'm not condoning it but maybe they are riding out the transfer window before submitting the accounts in case the information weakens our negotiating position?

Quoted from HerveJosse

When 1878 partners Limited file their first accounts at Companies House ( now two weeks overdue ) we will know what they invested into the club . Facts we already know are that they spent £1.4 acquiring shares in Grimsby Town Football Club Ltd  from various share holders including Fenty and stopped when they reached around 75% ownership. We know there was £750 k cash in the bank in the football club not £400k . We know that they haven’t injected any money into the club as equity despite Jason saying early on all investment woukd be equity not loans for sustainability . We don’t know yet know what 1878 Partners Limited has injected as loans to cover payments to Fenty ,infrastructure or operational cash flow or if all this was covered by cash inflow from the various transfers, the initial cash they inherited and income . The accounts will provide an insight into that. Why they are choosing not to file the accounts on time a criminal offence for directors and resulting in automatic fines  for the company is also an unknown.

All good questions to ask at the fans forum, I hope you get your answers.

All I know is that the club received a £165K grant from the Premier League Stadium Fund in April 2022, which was probably used for some of the infrastructure improvements made in the summer. Here are some of the things that this grant can be used for which likely applied to us:

• Dugouts
  
• Pitch irrigation
  
• Pitch maintenance machinery
  
• Tannoy and PA system
  
• Floodlighting
  
• Toilets
  

https://premierleaguestadiumfund.co.uk/english-football-league-clubs