Fenty: I'm not doing this for the Money

By: Rob Sedgwick
Date: 06/12/2007

GRIMSBY Town chairman John Fenty has hit out at suggestions that his involvement with the club and the new stadium project is aimed at making him money. "If anyone thinks that John Fenty is going to get rich out of the new stadium they are sad in my opinion", Fenty told the Grimsby Telegraph.

"I care passionately about this and think the new stadium is vital to the future of the club. A lot of blood and sweat is going into it and I am putting my heart and soul into getting this done."

Funds for the new stadium project are still around £6m short of the cost of building the new ground. These are to come from prospective retail partners in premises adjoining the Conoco Stadium..

"The new stadium at this moment in time would cost around £15-16-million," said Fenty. "Approximately £6-million of that cost is due to come from the retail sector and that was set when the plan was submitted.

"The sale of Blundell Park is likely to bring in around £1.5-million. It is probably worth double that but we have to provide social housing here as well."

The planning process has caused endless delays and there is still a long way to go before the first brick is laid, but the club's long-term financial security depends on a new ground. This was made abundantly clear at the weekend with the release of the club's accounts showing that they had made a loss of over a quarter of a million pounds last season alone. Fenty has continued to subsidise the club over as he has done so for the last few seasons, and will need to do so again this year with gates plummeting and the possible cost of a new manager, and even the unthinkable: relegation.

Grim Rob Says: Anyone who thinks being Chairman of Grimsby Town is a recipe to make money is sadly deluded!

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