Dear John

Quoted from Stranger in the Park

I'm totally gobsmacked as to how nonchalant some people can be about other people's money. £1.5million is a colossal amount of money whatever your personal circumstances. To say you support the denial of a complete repayment as set out is ridiculous. John Fenty regardless of the club's position or status supported the club financially and made sure it was free of debt- no mean feat in itself. Regardless of your personal feelings for him, just what do you really know about Shutes & Co. So far , it seems to me that he has a reluctance to prove that he has the necessary available and that he is only interested really in any spin-off redevelopment, which apparently is his means of income. Be wary of what you wish for.
I do believe that it's in everyone's interest that JF should move on due to the hostility towards him but by the same token, there is no excuse for not repaying him as without his financial support we would have possibly sunk out of sight. Let's not forget that most of his predecessors were not that popular as well (it's a thankless job in honesty).

Ultimately the club is worth nothing though if people don't put money into it. It will end up going into administration or he'll have to put more in to keep it afloat. It's better to cut his losses and take what he can now, today. If you've ever bought shares you have the same dilemma if you have a large loss on a stock: pump in more and try and bring down your average price or just take the loss on the chin. Having tried both strategies I know what a relief it is just to press the sell button and then the decision's made and you can take your money away and invest in something else. Chasing money rarely works.

Quoted from immariner

We'll never actually know what would have happened, so whilst having respect for Fenty's initial involvement, I don't swallow that everythimg that came after that should be considered as Fenty's benevolent philanthropy, rather than his impotent stewardship. He decided to cover those losses, losses signed off by him, as cutesie little "benign" loans, when he could have covered the shortfall by invessting in shares instead.

And intercourse off with the sanctimony. We've all stepped in over Fenty's tenure in our own ways, probably stretching into 5 figures for most of us. Fenty wants to walk away at the end of this, having recouped essentially everything. I'm not having it.

You make some good points but why get abusive? Would you tell a stranger in a pub to intercourse off for giving his/view? No of course you wouldn’t... It just cheapens your own opinion pal.
Anyway A few hundred quid and a town top once hardly equates to you being on an equal footing with the saviour of our football club. Fenty won’t get back anywhere near what he’s put in but he is entitled to his loaned money back 100%

Quoted from Humbercod

You make some good points but why get abusive? Would you tell a stranger in a pub to intercourse off for giving his/view? No of course you wouldn’t... It just cheapens your own opinion pal.
Anyway A few hundred quid and a town top once hardly equates to you being on an equal footing with the saviour of our football club. Fenty won’t get back anywhere near what he’s put in but he is entitled to his loaned money back 100%

What about the 200k for shares that were not even his until  he bullied fans into handing them over for free! He is NOT entitled to a penny for those shares!

No he isn’t entitled to it. Nobody made him put it in and when you purchase something that can fluctuate in value you will only get what it’s worth, regardless of how much you’ve put in.

Fenty has essentially bought a stately home that was sort of alright but owed council tax. He paid the council tax (sort of, we know there’s issues here too) and then remortgaged the property to allegedly develop it, spun led half a million on a vanity project that came to nothing.

The home has subsequently gone down in value; markets play a part but mismanagement, lack of investment or ideas has seen the house become significantly less valuable...someone has offered what it is worth and provided a plan, a fair plan to at least allow the person to recoup that initial investment based on the fact the new investors are able to turn things around. If not, the so called original investment will have to be curtailed and expunged so money’s can be used to ensure the long term stability of the property...*

Fenty has been offered a good and fair deal. Greed is stopping him.

I understand he doesn’t know how inflation works or how to acruslly work it out but I’m sure Shutes and co. Could use drawings and simple diagrams to explain their offer...

*i’m fully aware this is extremely basic and it’s more complicated but people will get the gist...

Quoted from Humbercod

You make some good points but why get abusive? Would you tell a stranger in a pub to intercourse off for giving his/view? No of course you wouldn’t... It just cheapens your own opinion pal.
Anyway A few hundred quid and a town top once hardly equates to you being on an equal footing with the saviour of our football club. Fenty won’t get back anywhere near what he’s put in but he is entitled to his loaned money back 100%

We're not in a pub, don't be so precious, it's just an intensifier.

Again with the sanctimony. We've all contributed what we can afford to keep this club going, sometimes more than I can reasonably afford. I'm not asking for it back. He might think he is but Fenty is not entitled to having his full loans repaid. The club is worth what somewhat is willing to pay for it, including liabilities, sorry "benign loans". That value could be significantly reduced in 6 months' time, owing to the decisions of the current incumbent. Someone can't run a business so poorly that they have to lend it money to cover agreed losses and then reasonably expect full recompense. Or maybe they can when they have people feeding their 'saviour' complex?

Quoted from WOZOFGRIMSBY

The tv show with the painters/decorators was ok though

I can still remember the first couple of bars of that theme tune. Now you’ve bloody started that ear worm in my head.

Quoted from immariner

Have you had a look at the league table and our squad? FFS

Swim only looks at that when he wants to have a moan about how bad we are.

He seems to have been a changed man with regards to Fenty since they met in the bogs at Braintree.

Quoted from Stranger in the Park

I'm totally gobsmacked as to how nonchalant some people can be about other people's money. £1.5million is a colossal amount of money whatever your personal circumstances. To say you support the denial of a complete repayment as set out is ridiculous. John Fenty regardless of the club's position or status supported the club financially and made sure it was free of debt- no mean feat in itself. Regardless of your personal feelings for him, just what do you really know about Shutes & Co. So far , it seems to me that he has a reluctance to prove that he has the necessary available and that he is only interested really in any spin-off redevelopment, which apparently is his means of income. Be wary of what you wish for.
I do believe that it's in everyone's interest that JF should move on due to the hostility towards him but by the same token, there is no excuse for not repaying him as without his financial support we would have possibly sunk out of sight. Let's not forget that most of his predecessors were not that popular as well (it's a thankless job in honesty).

But we’re not free of debt! We owe Fenty £1.5m. That debt GREW in the years after he took over. Much of it when we went down. Nearly £600k spunked on Great Coates when anyone who knew the slightest thing about development said that out of town retail was dead and even continued to spend money after the owner said he wasn’t interested in selling to the club any more.

It’s like the banks and the 2008 crash. Their mistakes. Other people pay the bill.

PS the consortium even offered him the full amount, the rate of repayment just qualified by whether we were in the league or not.

At the present rate he won’t get his money for 8 years anyway. And that’s not guaranteed.