Calculate the interest

Quoted from IlkleyMariner

Ok after an initial post and 23 responses, we seem to have

1. Fenty is still owed £1.5 mill
2. If he had charged 4.5% interest he would have earned £670k or so which he has waived.
3. The overall debt which peaked at well over £2 million has been paid off in part.

Cutting to the chase if the consortium agree to pay the £1.5 million what’s the gripe from fenty?
The fans and consortium are apparently ok to ignore all the money Fenty has wasted over the years and the £200,000 of free shares he seems to have magically acquired from Mike Parker.so long as it gets rid of him.

John and Fillipe, just sign the takeover papers and stop whinging.

Quoted from Fillipe Noche

You tell me ?

Quoted from Fillipe Noche

Oh my word that is hysterical

Do you know you are talking about a man with a high net worth in excess of £50 million

And you are suggesting he is motivated by free tickets and car parking spaces 😂😂😂

Do you know how funny that sounds 😂😂😂

Quoted from blundellpork

To answer question 2, assuming a consistent loan of £1.5m, at a consistent 4.5% interest cost (noting base has moved between 0.1 and 0.75% over the last decade), the cost over a 10 year period would be £675,000.

To then answer question 1, there will have been some years that our accounts show this could have been serviced, and some where it couldn’t. As has been posted many times, c £800k has been repaid in recent years which shows that over time they interest could have been serviced. However, at commercial lending rates, less of the capital sum would have been paid down.

How the debt has built and whether it was right have been done to death, but the interest savings from the benign loans vs those incurred commercially would not be insignificant.

Quoted from Knut Anders Fosters Voles

They can be written-off though can’t they, Philip / Stephen?

If the loan to the company is written-off the company will have a non-trading loan relationship credit equal to the amount written off.

JSF will crystalise a capital loss equal to the amount of the loan written off. This will be available to set off against capital gains arising in the year of write-off or in subsequent years.

Quoted from ska face

All this talk about it being “our club” is tragic - for at least two of the three involved in the consortium it’s THEIR club too. They just have the means & willingness to clear out the dead wood & run it in a way they see fit.

What is their motivation? Maybe just wanting to see the back of Fenty & his gang of failures who have proven, without question, that they are SHIITT. They’re not up to the job & Fenty has said plenty of times how much he wants out. I imagine if most on here won the euromillions then Fenty would be sent packing too.

Quoted from KingstonMariner

So if he has a net worth of over £50m* why did he need to wheedle £200k worth of shares from the Trust? Why doesn’t he just give them back now? If he is supposedly above taking benefits like free tickets and parking.

If he gave the shares back, that’d save the consortium £200k which they can put aside for underwriting an overdraft. If you, sorry, he was acting in the best interest of the club, and wanted to go  he would do that.

* by the way what’s your source for his net worth?

Quoted from Fillipe Noche

Question for anyone that is a member of the Mariners Trust committee

If John Fenty gave you £200,000 worth of shares, how would you finance your HMRC tax bill for receiving a gift of shares and a capital gain? Bucket collection?