In 2006 the club announced an arrangement with HM Revenue and Customs which allowed the club to repay its tax liabilities in instalments. In the report for the year ending 31 May 2006 it was revealed that the club made a profit after tax of over £400,000, due mainly to cup exploits and the play-off final. Assistant manager Graham Rodger was promoted to manager. Isaiah Rankin who had a short stay with the club in 2004, was re-signed from Brentford and other signings such as veteran Peter Beagrie and Sheffield United goalkeeper Phil Barnes were brought in. Former Mansfield Town manager Stuart Watkiss was appointed as the club's assistant manager. The Mariners got off to a slow start and the club's main strike partnership of Rankin and Michael Reddy never got going due to injury woes and Reddy harbouring the desire to play at a higher level. Grimsby found themselves near the foot of the table, and by November the poor start had basically destroyed any chances of promotion. On 6 November 2006 John Fenty sacked Graham Rodger. The club released a statement, saying "He has been a loyal servant to the club, but has become a victim of circumstances ... Graham has qualities this club needs – the shame of it is that this man deserved better."