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 BenBB |
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https://www.grimsby-townfc.co.uk/news/2020/may/club-statement---philip-day-appointed-club-chairman/
Quoted Text
[img]https://www.grimsby-townfc.co.uk/contentassets/c1a2c55627314ddfb147b4b295c6e5c0/blundell-park.jpg/Small[/img]
At a meeting of the Board of Directors held today by video conference, Philip Day was appointed Chairman of Grimsby Town Football Club.
The Club has not had a Chairman for several years, but the Board agreed that it was now a suitable time to make such an appointment. The challenges facing the Club are immense during a period of great uncertainty.
Philip commented “It is a great honour to be appointed as Chairman of my hometown Club and I thank my fellow Directors for the confidence shown in appointing me. My first match at Blundell Park was in the 1958/59 season and like so many of my fellow fans I was hooked. There have been so many memorable matches since that time together with the joys of promotion seasons and the despair of relegation seasons."
"This is probably the most difficult time for the Club in its 142-year history. We do not know when we will be playing football again and under what conditions. We are looking at different scenarios and planning and budgeting accordingly."
"Hopefully, we will shortly have more certainty as to whether the current season will be finished by playing or terminated without any further games and the plans for next season. What is paramount when going forward is the health and well being of the players and staff. We should not do anything which would jeopardise that."
"We have a united Board and we will work tirelessly to ensure that the Club survives this crisis. I am aware that many fans want to help us in this endeavour. When we have the certainty referred to above then we will be in contact to discuss with fans how they can assist. Together we will get through it.”
UTMM
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 golfer |
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Does that mean JSF will have no say in running the club
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Three more years and it's the Championship.  |
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“There's nothing wrong with the car except that it's on fire.”- Murray Walker
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| BobbyCummingsTackle |
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Does that mean JSF will have no say in running the club
He's still the majority shareholder. What he says goes. |
| Miss Scunthorpe. Not a beauty pageant, just sound advice. |
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| KingstonMariner |
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Best wishes Mr Day on a difficult task.
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| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| pizzzza |
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Congrats Philip, one might even call it a Red Letter "Day"
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| KingstonMariner |
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Congrats Philip, one might even call it a Red Letter "Day"
His appointment seems to have given you a filip |
| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| grimsby pete |
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Well done Philip we are in good hands.
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| Over 36 years living in Suffolk but always a mariner.
68 Years following the Town
Life member of Trust
First game April 1955
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| AdamHaddock |
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Boo Days out
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If a vote in the boardroom is against JSF what will Day do - if they don't have votes what is the chairmans job -is it a SPOKESMAN and not a chairman that is being created
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| BobbyCummingsTackle |
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If a vote in the boardroom is against JSF what will Day do - if they don't have votes what is the chairmans job -is it a SPOKESMAN and not a chairman that is being created
There is nothing he can do.There can't be a vote against JSF because he has the majority shareholding so 49% of votes can go against him but he just piles in with 51% of the votes and it's a done deal (I don't actually know what JSF's shareholding is in % terms). Hopefully Day can advise and influence JSF's decisions but it's ultimately his decision. In some cases a majority shareholder can delegate their votes to another board member but that doesn't appear to have happened here. Fenty is still in control of GTFC. |
| Miss Scunthorpe. Not a beauty pageant, just sound advice. |
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| Garth |
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JF has probably appointed a chairman to isolate him from the club during any political manoeuvring on future ground building activities, has he mentioned before he has been sailing too close to the wind as a Councillor
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| aldi_01 |
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This is likely a move to ensure Fenty doesn’t incur and damage to his political career whilst still wanting to be the despot leader of the club.
I don’t imagine Day would ever vote against Fenty, and as a few have already pointed out, Fenty ultimately still has the overall control and decision making power as majority shareholder.
Bit of a non story really...
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| 'the poor and the needy are selfish and greedy'...well done Mozza |
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Guest User |
Yes-man gets new title.
But he's still a yes-man, so this is meaningless/cosmetic.
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| BobbyCummingsTackle |
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There is nothing he can do.There can't be a vote against JSF because he has the majority shareholding so 49% of votes can go against him but he just piles in with 51% of the votes and it's a done deal (I don't actually know what JSF's shareholding is in % terms).
Hopefully Day can advise and influence JSF's decisions but it's ultimately his decision. In some cases a majority shareholder can delegate their votes to another board member but that doesn't appear to have happened here.
Fenty is still in control of GTFC.
I'm having a giggle to myself here because I've got 3 red crosses as if people don't agree with my opinion (which is fine) - this isn't my opinion, it's how companies, boards and shareholdings work! Ho hum. |
| Miss Scunthorpe. Not a beauty pageant, just sound advice. |
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| KingstonMariner |
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Voting at the board is on the basis of one member one vote. So in that sense JSF can be outvoted. When it comes to AGMs and EGMs and a vote based on shareholding is called then JSF has c43% of the shares/vote. I may be slightly out on the percentage. But he can still technically be outvoted there.
Where the control can really be exerted is through his loans and his guarantee to meet cash flow shortages (up to a limit). He could decide to take his bat home if he doesn’t like a decision.
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| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| MarinerDevil |
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Voting at the board is on the basis of one member one vote. So in that sense JSF can be outvoted. When it comes to AGMs and EGMs and a vote based on shareholding is called then JSF has c43% of the shares/vote. I may be slightly out on the percentage. But he can still technically be outvoted there.
Where the control can really be exerted is through his loans and his guarantee to meet cash flow shortages (up to a limit). He could decide to take his bat home if he doesn’t like a decision.
This. Technically, each board member has a single vote with the appointed chairman usually having the casting vote should there be a deadlock. But considering Fenty's financial power, other members are unlikely to vote against him if he strongly espouses a certain viewpoint. This is very unlikely anyway as most of the board members always seem to be aligned on the direction of the club. That's how it appears publicly at least. This is just to create some semblance of hierarchy during the next few months and, of course, to guarantee Championship football by 2023. |
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| moosey_club |
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This. Technically, each board member has a single vote with the appointed chairman usually having the casting vote should there be a deadlock. But considering Fenty's financial power, other members are unlikely to vote against him if he strongly espouses a certain viewpoint. This is very unlikely anyway as most of the board members always seem to be aligned on the direction of the club. That's how it appears publicly at least.
This is just to create some semblance of hierarchy during the next few months and, of course, to guarantee Championship football by 2023.
Vote against JSF on any major issue and the remaining directors will find themselves financially liable for any debts as JSF could easily pull all his funding/loans/guarantee's...........just as happened when the trust received its shares from Mike Parker.......and as the directors have hardly put a penny in (relatively speaking) to date i doubt very much they will want to p1ss off the cash cow and be sweating on stumping up themselves. |
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| The_Laughing_Mariner |
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JF is distancing himself from the club to concentrate on his Deputy Leader / regen'n role at the council, and to avoid conflict of interest re the New stadium.
The board need a figurehead, JF fulfilled this role as non chairman/ major shareholder.
So PD to chairman makes sense,
Who else?, Jon Wood, Ian Holloway, Stephen Marley, Michael Chapman, is Dave Roberts a director.
IMO PD is the sensible option.
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| <'(((((<
When I was a little boy
I asked my daddy what would i be
would I be United, would i be Leeds
Here's what he said to me
Oh Grimsby Grimsby
Whatever will be will be
You'll follow then faithfully
Oh Grimsby Grimsby
Tell me Mam me Mam
I dont want no tea no tea
I'm watching the Grimsby
Tell me Mam me mam |
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| KingstonMariner |
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Not being involved in the day-to-day running of the club does not mean there isn’t a conflict of interest! He still owns 43% of the shares and is owed in region of £1.5m (assuming all the debt owed to directors is to him). For there to be no conflict of interest he would have to step away from any council decision affecting the club’s future.
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| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| ex-merseymariner |
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Codalmighty diary yesterday was on the composition of the board, worth a read, .....
So we finally have a Chair.
matt dean did a decent interview with him available on facebook or twitter.
Hmm
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| #newera; New owners, new approach; 'we bought Grimsby Town to help renew the place we love' Join the Trust, get involved: UP THE MARINERS! |
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| BobbyCummingsTackle |
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Voting at the board is on the basis of one member one vote. So in that sense JSF can be outvoted. When it comes to AGMs and EGMs and a vote based on shareholding is called then JSF has c43% of the shares/vote. I may be slightly out on the percentage. But he can still technically be outvoted there.
Where the control can really be exerted is through his loans and his guarantee to meet cash flow shortages (up to a limit). He could decide to take his bat home if he doesn’t like a decision.
Interesting, I didn't know that. I'm surprised it's one member one vote and I'm equally surprised that JSF agreed to that or set it up - I wouldn't! It makes no sense to me that someone with 43% of the shares should allow someone with (say) 5% to have the same voting power. But I'm not doubting you. |
| Miss Scunthorpe. Not a beauty pageant, just sound advice. |
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| KingstonMariner |
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Interesting, I didn't know that. I'm surprised it's one member one vote and I'm equally surprised that JSF agreed to that or set it up - I wouldn't! It makes no sense to me that someone with 43% of the shares should allow someone with (say) 5% to have the same voting power. But I'm not doubting you.
That’s what the board members said at one of those fans forums (fora?). I believe them. But anything big then JSF will have the real say. |
| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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| aldi_01 |
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It can be one person one vote but that generally works as a model of the people aren’t puppets or yes men of the bloke who essentially holds the club (to ransom). Does anyone ever really see Day and Marley disagree with their chum?
And as you Kingston, whilst Fenty can be technically outvoted, the threat of taking his bat and ball home is clearly the reason he’s happy to remove cash from the club each year whilst leaving his ‘loans’...
This is a non story and I won’t be on my own in thinking this does little to change anything...
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| 'the poor and the needy are selfish and greedy'...well done Mozza |
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| KingstonMariner |
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It doesn’t change anything substantially Aldi, but there might be a change in style which won’t go amiss given our former non-chairman’s tendency to put his foot in his mouth. I was going to say ‘there’s no other show in town’ but I’ve just read the Shutes thing on the GrimTel.
PS I like all the precautions you’ve taken with your stores.
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| Through the door there came familiar laughter,
I saw your face and heard you call my name.
Oh my friend we're older but no wiser,
For in our hearts the dreams are still the same. |
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