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MuddyWaters
February 7, 2016, 10:43am
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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?
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barralad
February 7, 2016, 11:15am
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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....


The aim of argument or discussion should not be victory but progress.

Joseph Joubert.
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aldi_01
February 7, 2016, 2:58pm

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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...


'the poor and the needy are selfish and greedy'...well done Mozza
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friskneymariner
February 7, 2016, 3:09pm

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


Give a man a fish and you feed him for a day,teach a man to fish and you give him an excuse for him to escape from the wife and kids for the weekend and drink lots of beer.
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MuddyWaters
February 7, 2016, 3:18pm
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Quoted from friskneymariner
Or was it people protecting their investments.?????


As opposed to someone on a big ego trip?  
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Fishy4Skin
February 7, 2016, 3:22pm
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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.
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friskneymariner
February 7, 2016, 3:24pm

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


Give a man a fish and you feed him for a day,teach a man to fish and you give him an excuse for him to escape from the wife and kids for the weekend and drink lots of beer.
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MuddyWaters
February 7, 2016, 3:24pm
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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!
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Fishy4Skin
February 7, 2016, 3:28pm
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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.
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Fishy4Skin
February 7, 2016, 3:31pm
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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.
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