The Grimsby Town FC


League Two Form Guide

3Cambridge Utd6313
6Notts County6210
9Accrington Stanley619
10Crawley Town619
21Leyton Orient6-44
24Newport County6-71

Full Form Table

Latest Results (all divisions)

Question of the Week

How long before new manager arrives?

By weekend
Two weeks
Three weeks
Four weeks


Board Draw Up Battle Plans

By: Rob Sedgwick
Date: 20/05/2002

TOWN Chairman Peter Furneaux emerged from a hastily-arranged board meeting at Blundell Park lasting most of the day to reveal the board's plans on how the club are to weather the latest financial crisis to befall the Mariners.

With a major source of income (55%) in the form of ITV Digital having dried up, and no prospect of a replacement coming along in the short term, Town's board have been forced to make drastic cuts in order for the club just to be able to survive.

The chairman revealed that Town's current income does not even cover the fourteen players still under contract with GTFC going into next season, and they therefore wish to "renegotiate" arrangements with their existing players.

The board are currently looking no further than survival and being able to fulfil Grimsby Town's fixtures next season. However, the prospect of administration, which this week Bradford found themselves in, was thankfully not on the agenda at today's meeting.

Town Chairman Peter Furneaux's statement to Mariners Net reads: "The Football League will not give clubs any indication about any potential new deal for the rights to show football on television, as they do not feel it is "commercially practical" to do so. Therefore we can only work on the presumption that there will be no such income for football clubs, and the League have advised us to seek independent advice.

"The Board has today taken professional advice at our meeting, and has listened carefully to the advice given. The bottom line is that no business can operate knowingly making a loss that cannot be made up. If something changes, and the TV rights are sold then we will make adjustments accordingly, but for now, we will be practical and realistic and will take a structured and reasonable approach to the club’s finances.

"We are only able to rely on the income that we know we will have, and therefore all aspects of the club will be looked at in an attempt to ensure that it survives the loss of 55% of its income, and goes forward. We must look to avoid a Bradford, York, and Lincoln situation, and indeed a situation which many clubs may well find themselves in.

"The Directors currently have £1m in loans in the club, and there is no question of them withdrawing those loans. They are fully committed to the club. The club also has the support of the bank, and one of the lowest overdrafts in the First Division. However, we have recognised the situation we are in, and we are identifying the areas that we must deal with.

"The facts are simple. Even the fourteen players who are currently contracted earn in excess of what the club can afford. Players contracts need to be renegotiated in order that more players can be brought in within the financial boundaries available and Grimsby Town can fulfil its fixtures next season. We are not discussing putting the club in administration. We are discussing ways to make sure that we stay in business."

Add To Facebook

This site is by the fans, for the fans, and we will consider articles on any subject relating to the Mariners whether it be related to current news, a nostalgic look back in the past, a story about a player, a game or games in the past, something about Blundell Park or football in general. Click here to submit your article!

Related Stories

Message Board Latest
TitlePostsLatest Post
Lincoln city 60dapperz fun pub25/10 21:52
Ex-GTFC players thread1,847Tommy25/10 21:51
yeovil roll call20lukeo25/10 21:48
The PH years461mickylyons25/10 21:48
Town Legends43Mariner_0925/10 21:46
The Board8headingly_mariner25/10 21:11
Word Association Game36,441topuphere66625/10 20:56
Change/add-a-letter/remove-one Word Game thread...23,988Biccys25/10 20:54
Shortlist of 6205WestLeedsMariner25/10 20:48
Fishy busy again 3LondonMariner4325/10 19:37

News  | Features  | Submit Article  |   | 
© 2016