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What Happens Next?

By: Humberston Mariner
Date: 13/01/2003

AFTER the recent boardroom upheavals, it seems to be a bit too quiet. I am wondering if it is a good thing that it's this quiet or wether something else is brewing.

The club raised a sufficient amount of money to give Dudley Ramsden what he had invested in the club in the way of the loans, and a couple of the directors have stood down, but that might be because of their allegiance to Dudley Ramsden. So at the moment we have 4 directors and a chairman.

The club raised a sufficient amount of money to give Dudley Ramsden what he had invested in the club in the way of the loans, and a couple of the directors have stood down, but that might be because of their allegiance to Dudley Ramsden. So at the moment we have 4 directors and a chairman.

Since the transaction took place, nothing has been really explained about it but a confidentiality clause is in place to stop both the parties talking about it. Probably a good thing that it's been kept secret or it would have put Grimsby Town back in the headlines for all the wrong reasons.

The person who instigated the changes was John Fenty, after joining the board at a difficult time he probably saw what the problems were and decided with other directors help that he could change thing for the better for Grimsby Town Football Club.

But the thing that amazes me is where the Club got the money from to buy Dudley Ramsden off as in pre-season, when the ITV Digital deal went pear shaped, it robbed Grimsby Town of its wage bill for the season. Two new directors have now been co-opted onto the board, both with local connections . John Elsom and Michael Chapman are the men concerned.

Now that this has happened and with a share issue in the offering, I wonder how the Board are going to offer the shares, and hopefully they will be affordable to both board members and supporters, and the big question is if or when the shares are on the open market if the Trust will be up and running too, so they can buy a sizeable amount to let the supporters they represent have their say in the running of the Football Club, If they have sufficient funds to buy the shares.

The way to getting the supporters thoughts over to the board is to have a representative on the Board of Directors, but will the Trust be able to finance this as the club, has said that a privilege like this comes with a price.

In the next week The NELC Council can play their part in changing the history of Grimsby Town by granting the Conoco Stadium community asset status, and by backing the planning application that it will have before it on Friday morning. Then the club can start again planning a new piece of history for itself, by getting the new stadium fundraising going and pulling itself from the brink of financial ruin.


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