Statement from Day

Quoted from rancido

Seeing the as we don't have an overdraft then it's quite possible the ' gap to plug' could mean temporary cash-flow problems. I am not an accountant but cash-flow, especially in their football industry with no gate money, could cause temporary cash shortfalls.

That is a fair enough point, but I think that actually makes the overall situation worse!

One man has complete control of every aspect of the club because many moons ago he helped us out, is now gradually taking the money back without any reference to the damage his tenure has caused (or any rebate as far as we know) and is there as a back up in case we can't pay the milk bill.

If he really, really wants every penny back then that is fair enough, as there is nothing we can do about it. We could however, set up overdraft facilities to pay the milk money if required and continue to rely (as we do now) on the fans money providing the budget, whilst he takes a well-earned rest far away from the football club and we send him a cheque in the post every month till he is paid off.

I guess he thinks he is "protecting his investment " by continuing to be the main man.  

However you cut it, anti Fenty, very anti Fenty or off the scale anti Fenty we will never go anywhere whilst he pulls the strings.

Quoted from MarinerDevil

Do you mean creditors?  Debtors are people who owe the club; they're most likely other clubs who are still to pay outstanding transfer fee instalments.  Not trying to be a pedant, honest.  

The clear plan is to slowly reduce the directors' loans through the spoils of any footballing success.  I'm not sure why the club have reacted badly to that being suggested.

In regards to the part-time job rumour: clearly we need to be careful with gleefully sharing random theories that confirm our biases about the competence of the board.  Very difficult to manage on social media, of course.

Yeah, that's what I meant!  

Quoted from lew chaterleys lover

That is a fair enough point, but I think that actually makes the overall situation worse!

One man has complete control of every aspect of the club because many moons ago he helped us out, is now gradually taking the money back without any reference to the damage his tenure has caused (or any rebate as far as we know) and is there as a back up in case we can't pay the milk bill.

If he really, really wants every penny back then that is fair enough, as there is nothing we can do about it. We could however, set up overdraft facilities to pay the milk money if required and continue to rely (as we do now) on the fans money providing the budget, whilst he takes a well-earned rest far away from the football club and we send him a cheque in the post every month till he is paid off.

I guess he thinks he is "protecting his investment " by continuing to be the main man.  

However you cut it, anti Fenty, very anti Fenty or off the scale anti Fenty we will never go anywhere whilst he pulls the strings.

I see your point but surely having an overdraft, which I assume would be with a bank, leaves an outside "force" with some control over the club. Fenty, for all his faults which are many, would be hard pressed to call in his loans or 'plugs', which could jeopardise the club. A bank is just a financial institution and to them "it's just business so they can would have no qualms about calling in what they were owed, regardless of the consequences.

Quoted from psgmariner

Doubt it will make any difference but good to get the facts rather than endless rumours.

Here are some facts. From the published company accounts - taken from the Notes to the Financial Statements. This year it is note 12 on page 19. It's a similar note number most years. Year stated below is the financial year ending May 31st.

Directors Loans
2020 £1,550,000 - no change
2019 £1,550,000 - down £250,000
2018 £1,800,000 - down £200,000
2017 £2,000,000 - down £209,700
2016 £2,209,700 - down £34,800
2015 £2,244,500 - up £184,800
2014 £2,059,700 - up £75,000
2013 £1,984,700 - no change
2012 £1,984,700 - down £50,000
2011 £2,034,700 - down £357,100
2010 £2,391,800 - up £601,800

Highest point for Directors Loans was 2010. Since then the amount owed to directors has fallen £841,800

Now if this isn't money that John Fenty has been repaid, who has it been repaid to? A small about to Lee Mullen maybe around 2016.

I think Mr Day should get his facts right!

Incidentally, in 2003 Directors Loans totalled £100,000.

Quoted from grimps

How much were the Parker Shares worth ? 250k ?
So really we can actually scrub that from the Fenty loan already plus whatever he’s taken out , the club owes him quite a lot less than 2 million

Think he gifted the Trust 500k and they handed 200k over to Fenty.

Quoted from KingstonMariner

Here are some facts. From the published company accounts - taken from the Notes to the Financial Statements. This year it is note 12 on page 19. It's a similar note number most years. Year stated below is the financial year ending May 31st.

Directors Loans
2020 £1,550,000 - no change
2019 £1,550,000 - down £250,000
2018 £1,800,000 - down £200,000
2017 £2,000,000 - down £209,700
2016 £2,209,700 - down £34,800
2015 £2,244,500 - up £184,800
2014 £2,059,700 - up £75,000
2013 £1,984,700 - no change
2012 £1,984,700 - down £50,000
2011 £2,034,700 - down £357,100
2010 £2,391,800 - up £601,800

Highest point for Directors Loans was 2010. Since then the amount owed to directors has fallen £841,800

Now if this isn't money that John Fenty has been repaid, who has it been repaid to? A small about to Lee Mullen maybe around 2016.

I think Mr Day should get his facts right!

Incidentally, in 2003 Directors Loans totalled £100,000.

Of that 841k, 659k was in three years.

Dont believe a word Phillip Fenty-Day says.

Quoted from KingstonMariner

Here are some facts. From the published company accounts - taken from the Notes to the Financial Statements. This year it is note 12 on page 19. It's a similar note number most years. Year stated below is the financial year ending May 31st.

Directors Loans
2020 £1,550,000 - no change
2019 £1,550,000 - down £250,000
2018 £1,800,000 - down £200,000
2017 £2,000,000 - down £209,700
2016 £2,209,700 - down £34,800
2015 £2,244,500 - up £184,800
2014 £2,059,700 - up £75,000
2013 £1,984,700 - no change
2012 £1,984,700 - down £50,000
2011 £2,034,700 - down £357,100
2010 £2,391,800 - up £601,800

Highest point for Directors Loans was 2010. Since then the amount owed to directors has fallen £841,800

Now if this isn't money that John Fenty has been repaid, who has it been repaid to? A small about to Lee Mullen maybe around 2016.

I think Mr Day should get his facts right!

Incidentally, in 2003 Directors Loans totalled £100,000.

I honestly believe that the board think we’re too stupid to understand balance sheets.

Quoted from MuddyWaters

I honestly believe that the board think we’re too stupid to understand balance sheets.

At the very least they believe we’ll accept their spin

A fellow directors, I think Dave Roberts and Jon Wood ought to request PD makes a clarification to his statement.

If not John Fenty, which director has been paid £660k in 3 years.