Memory lapse

https://en.wikipedia.org/wiki/John_Fenty

Just looking (obviously bored) at the GTFC Wiki page and followed the link to JF and I'd forgotten that he'd actually sold his shares to Mike Rouse AFTER the ITV Digital collapse and then bought his way in the season after. Compare and contrast Leicester City who went into admin at the same time! Don't suppose anyone's got a time machine, have they?

That whole period is a bit hazy for me. The link at the bottom of the wiki article to a 2005 interview with Paul Thundercliffe for Cod Almighty makes for an interesting take on things....

A few teams bit the bullet around that time and went in to admin...town didn't, we were 'honest' and look where it got us?

Were other clubs just more intelligent than us or were they dishonest and circumvented rules? Was it because the people that got involved in their clubs had an idea about what they were doing? Was it because they were bigger clubs to start with? Who knows...

Or was it people protecting their investments.?????

Quoted from friskneymariner

Or was it people protecting their investments.?????

As opposed to someone on a big ego trip?  

Quoted from aldi_01

A few teams bit the bullet around that time and went in to admin...town didn't, we were 'honest' and look where it got us?

Were other clubs just more intelligent than us or were they dishonest and circumvented rules? Was it because the people that got involved in their clubs had an idea about what they were doing? Was it because they were bigger clubs to start with? Who knows...

Taking any business into administration isn't dishonest, it's a genuine means of stabilising the business to try and preserve its chances of survival.  The usual outcome is either liquidation (rare in football), sale to another party or an offer to creditors of 'x - amount in the £' which clears the debt.

So put yourself into Mr Fenty's shoes for a moment.  Say you are owed £3m by the club and you think that the administrators might make a judgement of 10p in the £.  That suddenly makes his £3m worth £300k, would you wipe out £2.7m of your personal fortune if you thought you might be able to recover more?  A huge decision for anyone to make, unfortunately a decade on and a championship club that might have been worth investment has become a national league club that isn't.  In hindsight he made the wrong decision for the club and given the fact he's continued to pump money in, the wrong one for him.  Wonderful thing hindsight.

Fast forward to today, will he take the club into administration?  I doubt it, not while his ongoing investment is lower.  Will he write off the club's debt to him?  Not a chance.

You have to differentiate what is best for the club or best for an investor.

Quoted from Fishy4Skin

Taking any business into administration isn't dishonest, it's a genuine means of stabilising the business to try and preserve its chances of survival.  The usual outcome is either liquidation (rare in football), sale to another party or an offer to creditors of 'x - amount in the £' which clears the debt.

So put yourself into Mr Fenty's shoes for a moment.  Say you are owed £3m by the club and you think that the administrators might make a judgement of 10p in the £.  That suddenly makes his £3m worth £300k, would you wipe out £2.7m of your personal fortune if you thought you might be able to recover more?  A huge decision for anyone to make, unfortunately a decade on and a championship club that might have been worth investment has become a national league club that isn't.  In hindsight he made the wrong decision for the club and given the fact he's continued to pump money in, the wrong one for him.  Wonderful thing hindsight.

Fast forward to today, will he take the club into administration?  I doubt it, not while his ongoing investment is lower.  Will he write off the club's debt to him?  Not a chance.

But we weren't in hock to him to the tune of 3 million in 2003, were we? That £3 million has accumulated over a twelve year period!

Quoted from MuddyWaters

But we weren't in hock to him to the tune of 3 million in 2003, were we? That £3 million has accumulated over a twelve year period!

I don't have that detail, I was trying to use examples, perhaps I should have made that clear.

Quoted from MuddyWaters

As opposed to someone on a big ego trip?  

There's easier ways of satisfying your own ego.  I think he's a genuine fan who thought he could make it work.

The only clubs that hasn't benefited from administration are Hereford and Darlington isn't it? Yet new clubs have been created and fighting their what's up the divisions, with Hereford getting 3000 + crowds.

There is no guarantee that administration would've 'bought' (sic) us success but when you look at what other clubs have managed to gain (new grounds, premiership millions etc) it does make you wonder if Fentys decision making regarding his assets/the club were actually in the clubs best interest.

As Elton John said, he made a small fortune out of being Chairmen of Watford,only trouble is that he started out with a large one.

Quoted from Fishy4Skin

There's easier ways of satisfying your own ego.  I think he's a genuine fan who thought he could make it work.

Welcome back John  

Quoted from grimsby pete

Welcome back John  

Now now, there's poking fun and being downright offensive.   I am NOT a flipping Tory!!

Quoted from Fishy4Skin

Now now, there's poking fun and being downright offensive.   I am NOT a flipping Tory!!

Who would EVER confess to that though ?

Quoted from Fishy4Skin

Now now, there's poking fun and being downright offensive.   I am NOT a flipping Tory!!

Quoted from Fishy4Skin

Taking any business into administration isn't dishonest, it's a genuine means of stabilising the business to try and preserve its chances of survival.  The usual outcome is either liquidation (rare in football), sale to another party or an offer to creditors of 'x - amount in the £' which clears the debt.

So put yourself into Mr Fenty's shoes for a moment.  Say you are owed £3m by the club and you think that the administrators might make a judgement of 10p in the £.  That suddenly makes his £3m worth £300k, would you wipe out £2.7m of your personal fortune if you thought you might be able to recover more?  A huge decision for anyone to make, unfortunately a decade on and a championship club that might have been worth investment has become a national league club that isn't.  In hindsight he made the wrong decision for the club and given the fact he's continued to pump money in, the wrong one for him.  Wonderful thing hindsight.

Fast forward to today, will he take the club into administration?  I doubt it, not while his ongoing investment is lower.  Will he write off the club's debt to him?  Not a chance.

"Taking any business into administration isn't dishonest"

It is dishonest though if a club goes into admin and then all of a sudden has a saviour though, something that seems to happen more with football clubs than other businesses.

MP wiped £500k worth of shares out in a heart beat to benefit the club and to stop turmoil at the club.

Two sides to the JF coin, we may have a club because of JF but we are in non league because of JF. We could be playing North Ferriby next season in competitive league games, population 3,893.

Quoted from Marinerz93

"Taking any business into administration isn't dishonest"

It is dishonest though if a club goes into admin and then all of a sudden has a saviour though, something that seems to happen more with football clubs than other businesses.

MP wiped £500k worth of shares out in a heart beat to benefit the club and to stop turmoil at the club.

Two sides to the JF coin, we may have a club because of JF but we are in non league because of JF. We could be playing North Ferriby next season in competitive league games, population 3,893.

You should do what's best for your business, not what's best for you. JF saved the club, but did he do it for the potential kudos or because he was naive in football management?

He has never been naive in business though, as much as it has cost him in £ over the last x amount of years, my guess is, he'll walk away not too far in the red personally.

Quoted from kevikov

He has never been naive in business though, as much as it has cost him in £ over the last x amount of years, my guess is, he'll walk away not too far in the red personally.

True. That's what the debenture is all about.

Quoted from MuddyWaters

You should do what's best for your business, not what's best for you. JF saved the club, but did he do it for the potential kudos or because he was naive in football management?

I agree 100% with the first part mainly due to the nature of football clubs and how engrained in the local fabric of a place, and would say 75% kudos - 25% football management for the second part.