New training facility.

Quoted from GibMariner

Are we loosing money. According to the chair YES!!! think he said a mill this season or needs to put in an extra mill. So what kind of debt is that then?. He said he would want his money back. Are they interest bearing loans. That would increase the debt never as before.

Not having a go at all. BUT THIS

We made a profit for many years under the previous, evidenced by accounts that were a public record scrutinised by shareholders, fans and under the strict  code of  PLC accounting principles. I would say that’s pretty investable.

What do we really know now? Nothing except what we hear from the chair. No relo, no training ground news, no money, no investors, one out one in and we need another mill to see the season out.

Never has the clubs seen such income, fan support, promotion, great cup run, player transfer income!!! ALL THAT MONEY where has it gone. Oh and plus the 800k was it in the bank at conception.

It’s a private business but that’s progress favoured by vocals as we push up the league’s with Selwyns  black and white army. Me hopes 👍👍

Should we be worried 😟 I am.

I think it’s not Magic our Morris but more smoke and mirrors

Quoted from GibMariner

We made a profit for many years under the previous, evidenced by accounts that were a public record scrutinised by shareholders, fans and under the strict  code of  PLC accounting principles. I would say that’s pretty investable.

Quoted from Bristol Mariner

Yea John

Quoted from GibMariner

Wish I was a penny behind him. 😊😊

I write with concern after threading together things coming out of the club.

The fact is the club was viable and not now according to the chair.

The fact is it’s not sustainable which is not consistent with the chair’s values !! and it could be living beyond its means.

Without facts I simply put it out there based upon what comes out of the club.

Quoted from mariner91

At the expense of the infrastructure, the league position and the reputation of the football club. But at least we made a small profit each season.

Quoted from HertsGTFC

You’re cherry picking to creative a narrative.

Couple of bits,

- Under Fenty the accounts may have looked neat but the our position in the pyramid was lower than it had been in a century

- Under that regime loyal hard working supporters spent £££££‘s having to endure relegations, false hope, poor facilities and a match day experience that sat in the 1920s.

- Whilst we had to put up with the above JSF bullied people out of shares, alienating countless stakeholders in the process but still found the due diligence to line his pension pot.

If you think we were “investable” then your wife needs to get power of attorney over your finances I suspect.

A few other bits,

Where has a lot of income gone?

- Paying Fenty back

- Chespside that was starved of credibility due to a cheap skate

- £300K+ provision in the accounts for the Main Stand

- Other costs to patch up BP that had been denied for the best part of 2 decades.

- Building footballing expertise infrastructure that will I believe progress us.

There’s loads more to be honest.

Just a point though about the £800k in the bank, that’s arguably the biggest smokescreen as that was cash flow and not positive reserves or net assets. Technically that cash belonged to the business & couldn’t be distributed to directors anyway, if it could do you think John would have left it behind as a welcome gift?

Quoted from Northbank Mariner

The only reason the club is losing money now is because of Fenty, can you not understand that?...
New pontoon roof, essential safety works to the main stand, BP drainage, cheapside pitch n facilities dropping to bits needed major surgery!..
You see, we were sustainable because he spent nothing on the club whilst lining his pockets with a healthy pension pot and robbing shares from the trust, oh and let's not forget the £1.5m loan he wanted back!! .

Quoted from GibMariner

Ok I get the narrative. But does it really fit.

The fact is the club has always maintained a safety certificate without the sensation / fuss inferred today. If the new owners chose to make investments in vanity projects like glass screens in the upper and the idea of removing a few posts in the main, which as an engineer I cannot fathom, but its their prarogative. And presumably rather than maintain the Pony roof, instead to fit the idea of none relocation, it was maybe felt good money spent for the long term . Ask the owners I prefer not to speculate.

Oh and repayment of loans doesn’t hit the balance sheet or affect profit.

Oh and by the way the pitch remains a mess JT mentioned it in a recent game and I we are not through the bad wether.      

Happy to blame the previous for all-SORTS but after three years, the argument it’s all Fenty’s fault cannot be taken seriously.  

We don’t even know if there is a problem because we haven seen the accounts. As mentioned in my first post I only thread together what’s coming from the chair/club. No axe to grind but remain concerned.

Quoted from GibMariner

Ok I get the narrative. But does it really fit.

The fact is the club has always maintained a safety certificate without the sensation / fuss inferred today. If the new owners chose to make investments in vanity projects like glass screens in the upper and the idea of removing a few posts in the main, which as an engineer I cannot fathom, but its their prarogative. And presumably rather than maintain the Pony roof, instead to fit the idea of none relocation, it was maybe felt good money spent for the long term . Ask the owners I prefer not to speculate.

Oh and repayment of loans doesn’t hit the balance sheet or affect profit.

Oh and by the way the pitch remains a mess JT mentioned it in a recent game and I we are not through the bad wether.      

Happy to blame the previous for all-SORTS but after three years, the argument it’s all Fenty’s fault cannot be taken seriously.  

We don’t even know if there is a problem because we haven seen the accounts. As mentioned in my first post I only thread together what’s coming from the chair/club. No axe to grind but remain concerned.