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Posted by: Gaffer58, December 7, 2019, 6:15pm
I understand we all have to be forever eternally grateful for Mr Fenty "saving" the club, but since promotion from league to the conference how much investment above yearly income has gone into the club. I suspect that once we did get into the league it was seen as an ideal way to get the benign loan reduced, if these payments were not taken out of the club and the £200 to £250 thousand each season used on the squad,maybe we wouldn't be looking over our shoulder at the dreaded drop again.
Posted by: pen penfras, December 7, 2019, 7:07pm; Reply: 1
Quoted from Gaffer58
I understand we all have to be forever eternally grateful for Mr Fenty "saving" the club, but since promotion from league to the conference how much investment above yearly income has gone into the club. I suspect that once we did get into the league it was seen as an ideal way to get the benign loan reduced, if these payments were not taken out of the club and the £200 to £250 thousand each season used on the squad,maybe we wouldn't be looking over our shoulder at the dreaded drop again.


Or maybe there's these wretched financial fair play rules that meant it couldn't be used on the squad...
Posted by: Yoda, December 7, 2019, 7:15pm; Reply: 2
What will Fenty do if he has to put in £250 grand this season.
As our break even is 4500 we are losing serious money.
Posted by: ginnywings, December 7, 2019, 7:56pm; Reply: 3
Quoted from pen penfras


Or maybe there's these wretched financial fair play rules that meant it couldn't be used on the squad...


There are ways around that if you want to increase the budget. JF seems to want to take money out rather than put any more in. That's entirely up to him of course, but it's clear the budget is an ongoing issue with successive managers.
Posted by: Bigdog, December 7, 2019, 8:08pm; Reply: 4
Quoted from pen penfras


Or maybe there's these wretched financial fair play rules that meant it couldn't be used on the squad...


He could convert his loan into shares and use the whole lot for playing budget if required. It would open up 1.5m of accessible playing budget to use when there's money in the bank rather than paying down the loan. Using FFP to say we are totally handcuffed to the budget we've got is just a smokescreen. If JF had courage in his convictions and held 2.4m of shares to be sold to an investor rather than 900k in shares and 1.5m in loans, more of the cash in hand could be used for budget. The only thing is that the cash in the bank is more accessible for JF to get his hands on for himself if he's owed a loan and at the same time less accessible for budget. It underlines completely where his priorities lie, himself before the club. It's not a criticism, it's up to him, he's in charge, but it's definitely a fact..
Posted by: HertsGTFC, December 7, 2019, 10:48pm; Reply: 5
Quoted from Bigdog


He could convert his loan into shares and use the whole lot for playing budget if required. It would open up 1.5m of accessible playing budget to use when there's money in the bank rather than paying down the loan. Using FFP to say we are totally handcuffed to the budget we've got is just a smokescreen. If JF had courage in his convictions and held 2.4m of shares to be sold to an investor rather than 900k in shares and 1.5m in loans, more of the cash in hand could be used for budget. The only thing is that the cash in the bank is more accessible for JF to get his hands on for himself if he's owed a loan and at the same time less accessible for budget. It underlines completely where his priorities lie, himself before the club. It's not a criticism, it's up to him, he's in charge, but it's definitely a fact..


So the club owes JF 1.5m if he converts it into shares aren’t we then relying on someone to buy the shares to release the cash?
Posted by: Marinerz93, December 7, 2019, 10:57pm; Reply: 6
Quoted from pen penfras


Or maybe there's these wretched financial fair play rules that meant it couldn't be used on the squad...


Maybe you and your buddy should pop over to Lincoln and FGR to see how these traditionally smaller clubs have done it.
Posted by: Bigdog, December 7, 2019, 11:08pm; Reply: 7
Quoted from HertsGTFC


So the club owes JF 1.5m if he converts it into shares aren’t we then relying on someone to buy the shares to release the cash?


We have money in the bank that we can't use because of FFP. We can use it if new shares are converted from JF's loan. Nothing to do with selling the shares. All to do with the ruling that any share value issued can be used for playing budget from cash already in the bank that we couldn't use otherwise. it changes the status of that cash and increases our playing budget capacity rather than releasing more physical cash, it's a paper transaction..

Of course if we had a board that actually went out and attracted new investment, any new share issue value would be ok to be used for playing budget under FFP. It's one of the ways that Scunny, Mansfield and FGR boost their playing budgets beyond matchday and TV income..
Posted by: HertsGTFC, December 7, 2019, 11:39pm; Reply: 8
Quoted from Bigdog


We have money in the bank that we can't use because of FFP. We can use it if new shares are converted from JF's loan. Nothing to do with selling the shares. All to do with the ruling that any share value issued can be used for playing budget from cash already in the bank that we couldn't use otherwise. it changes the status of that cash and increases our playing budget capacity rather than releasing more physical cash, it's a paper transaction..

Of course if we had a board that actually went out and attracted new investment, any new share issue value would be ok to be used for playing budget under FFP. It's one of the ways that Scunny, Mansfield and FGR boost their playing budgets beyond matchday and TV income..


Get it now if you reduce the debt it releases the cash.
Posted by: Lincoln Mariner 56, December 8, 2019, 9:13am; Reply: 9
Whilst I have never been JF’s number one supporter equally I have never really been a critic of his as I have fallen into the group of people who appreciate his money has helped us in the past and I have acknowledged it’s his money so he can do what he wants with it.

However, since returning to the league it appears JF’s number one priority is to utilise the increased income to repay his loans rather than advance the fortunes of our club. £250 k would probably secure 2 to 3 quality players at this level exactly what this team needed to make us more than decent (I am assuming we spent that money wisely) and that in turn would increase gate receipts and other income which either could be reinvested in the team or smaller amounts to JF.

With reports that Macclesfield are attracting interest from new buyers we have to revisit why Town are so unattractive to investors as either new board members or to buy JF out? Much debated on here so not worth revisiting but if JF does not change his mantra on one in one out in January a season that started with so much promise could be a watershed none of us could possibly contemplate or want.

A time for positive action is now and this means a new Manager being appointed before the Carlisle game which is probably apt given MJ’s appointment!!!!
Posted by: denni266, December 8, 2019, 9:45am; Reply: 10
We are going no where while fenty is drawing 250k a year out of our budget. There are ways to increase our spending limit as have been discused before . But he wont do it because he has to be in control and his muppets around him are all yes men and not man enough to to stand up to him so we will stand still or in fact go backwards as we are starting to do now. Seems any one who comes in to the club with money is not man enough to take him on and backs off. I am now starting to think that he is no fan and that that is a cover for him to hide behind. A real fan with money would not let his club go the way we are end of
Posted by: moosey_club, December 8, 2019, 10:47am; Reply: 11
He has said for a few seasons now that the club is effectively for sale....he wants out...pretty sure he must be sick to death of the criticism he gets ....why would he put more money in that he isn't going to get back ?
.. taking bits out per season is his option.....the other options being he calls all the debt and bankrupts the club only receiving part payment....he leaves cancels the debt and loses it all....negotiates a sale which can either pay his debt off or guarantee a repayment of them over a set period.

Not increasing club debt.....reducing the liability year on year are sensible options given other club situations until a sale can be put together.
Posted by: Abdul19, December 8, 2019, 11:28am; Reply: 12
Quoted from denni266
We are going no where


At the moment I'll take nowhere
Posted by: SomeSanity, December 8, 2019, 11:43am; Reply: 13
Quoted from pen penfras


Or maybe there's these wretched financial fair play rules that meant it couldn't be used on the squad...


Good point, however, how do Scunthorpe splash out on their squad with the attendances and income they get?

There are ways and means. It has become fairly apparent there is not an appetite to put any more money into the club. To be fair to JF, if The intention is to let go of the rains of the club why would you put it any more money?

Posted by: Theimperialcoroner, December 8, 2019, 1:16pm; Reply: 14
Here’s a thing. I put my house on the market, it doesn’t sell for two years. There’s something wrong, either the price is wrong or the house is. If I really wanted to sell, I’d have to do something about one or the other. Fenty has said there are tyre kickers out there, but I suspect he wants Rolls Royce money for a Ford Fiesta.
Posted by: Rik e B, December 8, 2019, 2:06pm; Reply: 15
To say there's two hundred and fifty thousand pounds of profit made each year but it can't be spent on improving the budget is a nonsense. There are ways and means - see pretty much every other club that manages a small profit.

So lets say in ten years if it weren't for Fenty's leeching we'd have 2.5 million sat there in the bank but 'oh sorry we can't improve our warchest'. balderdash.

Kinda sick coming in as the great saviour of club you love but then slowly bleeding supposed beloved club dry over years and years and years as we humiliated nationally and our fiercy loyal supporters are made to suffer to such a point that some feel they have no choice but to do the unthinkable and turn their back on the club.

Look at all these other rich supporter owners bailing out their clubs or boosting their kitty and not wanting a penny in return, and the bright upward spiral of positivity that brings to club and community.

What a great feeling that must bring.

All I can think is Fenty must have spunked his other 17 million or whatever up the wall pretty much as he should have had enough there to see out his days in lavish luxury without even missing the couple of mill he put into GTFC. All content in the knowledge he done a great thing for the club he loves and adored by the locals for kickstarting a brighter future.

But no.

Could have made the rest of his money work for him so club could keep receiving injections from the profit/interest made elsewhere and his original fortune left fairly untouched. But hey ho.
Posted by: Gaffer58, December 8, 2019, 2:11pm; Reply: 16
One way scunny increase their budget is by getting one of the chairmans companies, in this case his Blackpool hotel, to sponsor the clubs shirts for a higher value then the league average, I would assume Forest Green are doing something similar with their chairmans money, but what does Mr Fenty do, takes out a decent amount, and then wonders why we struggle. I'm afraid "football fortune" only comes around once in a blue moon but, if we'll all be patient we may draw Man U away in the cup sometime before 2050.
Posted by: Rik e B, December 8, 2019, 2:17pm; Reply: 17
You have to speculate to accumulate, probably why football fortune has been hard to find.

If you want to 'put something back into the community' rather than become a sodding Councillor the best best would be to go off and create an empire (if you've got money you can make money) then come back and put some of the fruits of you labour back into community. Say investing in infrastructure with ventures that still bring you income but also improve the amenities available to the locals.
Posted by: Rik e B, December 8, 2019, 2:21pm; Reply: 18
For example Donald Trump (love him or loathe him that not the point or issue here)

"I started with a small loan of a million dollars" now he would have really struggled to build his vast empire without a penny to scratch his bottom with to start with. Probably would have made inroads somehow because of his business brain but it would have been much much harder.
Posted by: Gaffer58, December 8, 2019, 2:43pm; Reply: 19
So if Mr Fenty had loaned the club around £2.5 million, then for his 20 years in charge that equates to just over £100 grand per year, surely as mentioned in earlier threads if he was to even write of the approximate £1.5 million he's still owed then over the last 20 years that's not too big a number, but no he wants every last penny back whilst the club, he loves, struggles.
Posted by: Swansea_Mariner, December 8, 2019, 3:06pm; Reply: 20
GTFC austerity. Sickening in it.
Posted by: FishOutOfWater, December 8, 2019, 3:10pm; Reply: 21
Quoted from Gaffer58
So if Mr Fenty had loaned the club around £2.5 million, then for his 20 years in charge that equates to just over £100 grand per year, surely as mentioned in earlier threads if he was to even write of the approximate £1.5 million he's still owed then over the last 20 years that's not too big a number, but no he wants every last penny back whilst the club, he loves, struggles.


I’m pretty sure he said he’d already written off his loans

Ok so that’s only in his head but that’s a start no? 🤫
Posted by: Swansea_Mariner, December 8, 2019, 3:47pm; Reply: 22
How has he written off his loans, their there in the accounts plain as day for all to see.
Posted by: Abdul19, December 8, 2019, 3:51pm; Reply: 23
I think you need to read the second line  ;)
Posted by: Swansea_Mariner, December 8, 2019, 3:54pm; Reply: 24
What does that even mean, in his head, so the money recouped isn't real. I mean I know it's a fiat economy but still.
Posted by: FishOutOfWater, December 8, 2019, 5:20pm; Reply: 25
Quoted from Swansea_Mariner
What does that even mean, in his head, so the money recouped isn't real. I mean I know it's a fiat economy but still.


He’s on record as saying it....

Maybe he can explain further at the next Fans’ Forum
Posted by: Northbank Mariner, December 8, 2019, 5:32pm; Reply: 26
Unfortunately there's no investment coming in, think we'd be blind to think there ever will be.
There's no point in slapping Fenty every 30 seconds with a wet fish, the situation is what it is and no amount of moaning or complaining is going to change it.
The product on sale is pretty worthless, the land BP occupies isn't prime real estate and no one is buying land for retail.
The club as a whole including the hard working club shop staff and the not so hard working playing staff have very little value.
The only real asset this club has to offer is us, the paying fans and we are dwindling rapidly making the package is less attractive.
Who's going to want to buy a club with circa 3000 season ticket holders and, on a good day, 1000 pay on the gate fans?..then be expected to build a stadium that can seat, say for arguements sake 10000,..
Yes WE may know there's 2000 floating fans that may come back if Fenty n Co sell up, but any investor cannot and will not invest on the hope of an increased attendance...
So like the dodo, we are on our way to becoming extinct.. certainly as a football league club.
Posted by: Gaffer58, December 8, 2019, 6:04pm; Reply: 27
Quoted from FishOutOfWater


I’m pretty sure he said he’d already written off his loans

Ok so that’s only in his head but that’s a start no? 🤫


Monday morning I am going to make Mr Fenty an offer to buy the club, my bank balance shows £10 million, he should be willing to accept, although the balance "is only in my head".
Posted by: chiangmaimariner, December 8, 2019, 6:24pm; Reply: 28
We've got a de facto chairman who claims to be a non-chairman who's a financial leech on the club he's alleged to support.

And the club, according to Kieran Maguire, is "technically insolvent".

That's the bottom line here and now, and however you juggle your perspectives...it ain't good.
Posted by: Yoda, December 8, 2019, 6:51pm; Reply: 29
We are in a slow death spiral which ultimately end in bankruptcy.

Like an earlier poster said our only asset is the fans and we dropping in number.
Posted by: FishOutOfWater, December 9, 2019, 1:55pm; Reply: 30
Quoted from Gaffer58


Monday morning I am going to make Mr Fenty an offer to buy the club, my bank balance shows £10 million, he should be willing to accept, although the balance "is only in my head".


Come on then Gaffer - spill the beans

Were you able to have a meeting of minds and get a deal done that suited JF or were you given short shrift as yet another tyre kicker?    ;)
Posted by: Gaffer58, December 9, 2019, 6:12pm; Reply: 31
Sorry to disappoint you all, but I was late for my appointment as I had to put my dustbins out, never mind Town will one day be in the premiership, or is that " only in my head"
Posted by: Northbank Mariner, December 9, 2019, 7:26pm; Reply: 32
Quoted from Gaffer58
Sorry to disappoint you all, but I was late for my appointment as I had to put my dustbins out, never mind Town will one day be in the premiership, or is that " only in my head"


3 and 1/2 years to go then we'll be in the championship, or so we were told!!🤔🤔
Posted by: FishOutOfWater, December 10, 2019, 1:17pm; Reply: 33
Quoted from Northbank Mariner


3 and 1/2 years to go then we'll be in the championship, or so we were told!!🤔🤔


If things carry on as they are then in  3 ½  years we might have witnessed our FL-exit    :B
Posted by: Rik e B, December 10, 2019, 2:19pm; Reply: 34
Could be in National League North by then!
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