Ryan Bennett cash gives gloss to Grimsby Town accounts
GRIMSBY Town director John Fenty has warned that the 'Ryan Bennett windfall' gives a false picture of the club's financial situation.
The football club published its annual accounts yesterday, for the year ending May 31, 2012.
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Ryan Bennett
In contrast to the previous year – when losses of more than £900,000 were recorded – the club announced an operating profit of around £140,000 (after tax).
However, Fenty stressed that the figures were boosted by more than £700,000 thanks to a 25 per cent sell-on fee for former Town defender Bennett, following his January transfer from Peterborough to Norwich.
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"The accounts give a false picture in the sense that the Bennett income generates a profit," he said.
"Also, you have to count that figure in the trading year, without having received all of the proceeds. Some we had last financial year and the remainder we will have this year.
"Nevertheless, it's good that we've got that income earmarked and it rolls somewhat into this season.
"That has helped us put together a very competitive budget and, fingers-crossed, that will pay dividends by the end of the season.
"Being in this division, and in real terms Leagues One and Two, the losses are quite substantial year-in, year-out. Going forward, if we don't have better football fortunes – and given the limited financial support – then we will have to cut our cloth accordingly.
"We will still look to have a competitive budget, but maybe not to the same level as we've had in the last 8-10 years."
Fenty also confirmed that the club has no immediate plans to appoint a chairman – a role he relinquished in September 2011.
"We've got no aspirations to deal with the issue of chairmanship," he said.
"Things are running well, we continue to do the same things we've always done, it's just a title".
Comments
by grims45
Monday, November 05 2012, 8:19AM
“listen to me no jf means no gtfc utm”
by lee_GTFC1
Sunday, November 04 2012, 7:44PM
“E.Brown...you have insulted the club its players & its fans to an unforgivable level.
Please tell me why you think its now appropriate to invade all GTFC related articles?”
by ErnieBrown
Sunday, November 04 2012, 8:27AM
“When the Department of Transport gave the go-ahead for Peaks Parkway to be built on the old train track from Gy to Louth it was on the proviso that Peaks Parkway would only be used as a through road and that no permanent access roads were to be connected to it. The reason?.......because any access roads on Peaks Parkway would open up and consequently destroy any green belt land between Gy and Scartho/New Waltham.”
by Bizarre57
Saturday, November 03 2012, 9:45PM
“Exactly Glebe82. The mention of Weelsby Avenue is a complete red herring: the attraction to a retailer would be the access from Peaks Parkway. There would be no access from Weelsby Avenue, it is clearly unsuitable as any sensible person will realise.”
by Glebe82
Saturday, November 03 2012, 8:47PM
“If there was a major retailer interested why wouldn't they want to be located alongside a major access road. You say the top of Weelsby Avenue, when acually it would be Peaks Parkway that is the attraction just like any out of town retail park.”
by Beagleyes
Saturday, November 03 2012, 12:44PM
“Ernie isn't there mixed messages here
On one hand I think I read that a bid was put into this portas thing to support the the principles of supporting town centre revival ( supported by NELC ) and then NELC support a private bid to create a stadia with retail shops which in turn might have a knock on effect to shops in the town centre
Very confusing messages from NELC
Still up the mariners”
by ErnieBrown
Saturday, November 03 2012, 11:38AM
“Beagleyes, the RGF funding application for xmillion£ was refused a week or two ago.
Bizarre53 Why would any major retailer want to build a stadium and retail outlet at the end of Weelsby Ave?
And why would NELC Planning Dept let them build an out of town retail complex considering the Portas Report of last year which blames OOT retail parks as being the ruination of town centres?”
by Beagleyes
Saturday, November 03 2012, 11:00AM
“So bizare57 what you are saying is let the landlord take the risk ......
And grimsby town pays a rent eh - now that's a shrewd move
Now who is going to do that as the area pulls its self out of recession ?
Any news on the grant that was applied for - that should pay for something eh”
by Dexxx
Saturday, November 03 2012, 10:55AM
“We are all aware of Fenty's financial support for the club but that is not the problem as long as this is ongoing The reason we seem to be going up blind alleys is the lack of any obvious strategy. The Bennett situation proves that we can become a self supporting club by producing our own players [Moore Drinkell Croft Oster and way back Briggs Collins and a succession of others ] the sales of .which.were responsible for keeping the club solvent over the years Since Bennett...Nothing We have our only current prospect Southwell, sat on the bench whilst loanees and wantaways are on the pitch We are experiencing.our lowest ever league status so this should be the ideal opportunity to concentrate on team building and you don't do that with other club's players Fenty should supply direction which is just as important as money as one is inextricably linked to the other .”
by Bizarre57
Saturday, November 03 2012, 10:16AM
“As has been said many times elsewhere (although it seems that some are deliberately not listening) the development of a new stadium will very much depend on attracting a key tenant such as a retailer to any site which is developed. GTFC will not pay for the stadium, they are likely to rent it from the landowner, as will other tenants rent their part of the developed site. Simples.”