[Archived] Rovers Might Have Been Sold?

[Wild Irish Rover]

Good god - been a reader on here now for 12 months or so - not posted in that time as can't normally be bothered.

I've been a season ticket holder for around 30 years so have seen the bad times come and go - Bristol Rovers away Mickey Speight hitting the bar from a free kick anyone?

Read all this talk with a bit of worry - uncle Jack was good for us - he was a real fan. Not sure any of the current interested parties are

If this takeover does go through i only hope that Sayed (or whoever gains control) becomes a fan too. If not the heart will be ripped out of the club we love and I will fear for the future.

Likewise, my main concern is that all this talk of billionaire ownership brings with it a significant risk of the values and traditions of our stable and well run club being lost in a deepening greed-fest, led by narcissistic players and their bully-boy / wide-boy agents. It is bad enough as things stand, with over-rated bling-meisters rubbing peoples noses in their good fortune - remember the local average wage is £2200-24000 (PER YEAR) ffs!

The only fit and proper test that matters in my book is whether our new owners, when they eventually roll into town, pay due attention to the thoughts, circumstances and feelings of the local population. Whilst I'm all for seeing Rovers enjoy some more success, I'd rather this was based upon hard work and commitment to the beautiful game than us becoming the plaything of yet another gloryboy wannabe. If we become just a vehicle for flattering the egos of people who underneath it all couldn't care less about Blackburn Rovers, that would be the end of my 30 years following the Gordon Lee, Jim Smith, Howard Kendall, Don Mackay, Bobby Saxton, (Jim Iley aarrgghhh!) Tony Parkes, Ken Dalglish, Ray Harford,Woy Hodgson, Graeme Souness, Mark Hughes, Sam Allardyce phenomenon that is our Blue & White Army.

Fingers crossed for someone with some passion for the game...

[fishmesiter]

Likewise, my main concern is that all this talk of billionaire ownership brings with it a significant risk of the values and traditions of our stable and well run club being lost in a deepening greed-fest, led by narcissistic players and their bully-boy / wide-boy agents. It is bad enough as things stand, with over-rated bling-meisters rubbing peoples noses in their good fortune - remember the local average wage is £2200-24000 (PER YEAR) ffs!

The only fit and proper test that matters in my book is whether our new owners, when they eventually roll into town, pay due attention to the thoughts, circumstances and feelings of the local population. Whilst I'm all for seeing Rovers enjoy some more success, I'd rather this was based upon hard work and commitment to the beautiful game than us becoming the plaything of yet another gloryboy wannabe. If we become just a vehicle for flattering the egos of people who underneath it all couldn't care less about Blackburn Rovers, that would be the end of my 30 years following the Gordon Lee, Jim Smith, Howard Kendall, Don Mackay, Bobby Saxton, (Jim Iley aarrgghhh!) Tony Parkes, Ken Dalglish, Ray Harford,Woy Hodgson, Graeme Souness, Mark Hughes, Sam Allardyce phenomenon that is our Blue & White Army.

Fingers crossed for someone with some passion for the game...

Put much more eloquently than I could ever dream of managing - but so true

[yoda]

Likewise, my main concern is that all this talk of billionaire ownership brings with it a significant risk of the values and traditions of our stable and well run club being lost in a deepening greed-fest, led by narcissistic players and their bully-boy / wide-boy agents. It is bad enough as things stand, with over-rated bling-meisters rubbing peoples noses in their good fortune - remember the local average wage is £2200-24000 (PER YEAR) ffs!

The only fit and proper test that matters in my book is whether our new owners, when they eventually roll into town, pay due attention to the thoughts, circumstances and feelings of the local population. Whilst I'm all for seeing Rovers enjoy some more success, I'd rather this was based upon hard work and commitment to the beautiful game than us becoming the plaything of yet another gloryboy wannabe. If we become just a vehicle for flattering the egos of people who underneath it all couldn't care less about Blackburn Rovers, that would be the end of my 30 years following the Gordon Lee, Jim Smith, Howard Kendall, Don Mackay, Bobby Saxton, (Jim Iley aarrgghhh!) Tony Parkes, Ken Dalglish, Ray Harford,Woy Hodgson, Graeme Souness, Mark Hughes, Sam Allardyce phenomenon that is our Blue & White Army.

Fingers crossed for someone with some passion for the game...

Bit of a knee jerk there WIR, after 30 years!

nobody could be worse than Jim Iley,

owners come and go but BRFC continues

[gumboots]

Of course it's a risk - but surely its better to stick with your beliefs than sell out to the highest bidder - I know that all this has been covered in the previous 400 odd pages but felt I had to put my two pennyworth in.

I love Rovers but am also involved in youth football and see all the dissent, play acting etc coming through from watching the current "stars" of the premiership. I wonder if our takeover (if it happens - and I'll be jumping if we win anything again - hypocrit I know) will just add to this culture and eventually destroy the game we love.

Ultimately though we as fans have no choice about who takes over. The Trust will sell to someone they feel can provide the cash. I agree we'd all like a fan but it's not going to happen. I'd like to see the club preserve its character and not become like City but that's down to the fans surely. If the club have cash to spend we don't have to be obnoxious about it like they have been. We don't have to go about thinking that just because we spend we have an automatic right to win games. We can go about things the same way as we do now. The only difference being that we'll know that financially we can compete on a slightly more even playing field. I don't expect any new owner coming in to provide funding for the kind of players City can afford. I do expect to be able to compete with Stoke, Sunderland Birmingham etc for players.

[Fife Rover]

I'm telling you all, it's not going to happen, guarantee it, He's failed fit and proper

You are sailing VERY close to the wind there......unless you have hard evidence of course.

[nicko]

Syed's people are back in town for the second time in a matter of days.

Their first visit ended abruptly - probably prompting the manager to say it was 'doubtful' which is the same status I believed it was in on Wednesday.

However they have come back and are intending to have it all in place by Monday.

The Premier League have not done any Fit and Proper Persons test, but want to know where the money is coming from and how it will be spent.

The Syed side are convinced they can do the deal, there are many around - from various areas - who think it will fail.

Fortunately there should be an answer to that very shortly.

[Bobby G]

I guess we will know it all within 48 hours.

Nicko, how do you rate the chances of the mystery Indians and the Aussies you spoke about previously, especially considering that Syed is way ahead in the race due to his early start?

[Tim Southampton Rover]

Nicko, in your opinion do you believe he would have got this far without having the huge amounts of money he has promised the club or would he have had to prove it to the Trust/Rothschild by now?

[Henwah]

Likewise, my main concern is that all this talk of billionaire ownership brings with it a significant risk of the values and traditions of our stable and well run club being lost in a deepening greed-fest, led by narcissistic players and their bully-boy / wide-boy agents. It is bad enough as things stand, with over-rated bling-meisters rubbing peoples noses in their good fortune - remember the local average wage is £2200-24000 (PER YEAR) ffs!

The only fit and proper test that matters in my book is whether our new owners, when they eventually roll into town, pay due attention to the thoughts, circumstances and feelings of the local population. Whilst I'm all for seeing Rovers enjoy some more success, I'd rather this was based upon hard work and commitment to the beautiful game than us becoming the plaything of yet another gloryboy wannabe. If we become just a vehicle for flattering the egos of people who underneath it all couldn't care less about Blackburn Rovers, that would be the end of my 30 years following the Gordon Lee, Jim Smith, Howard Kendall, Don Mackay, Bobby Saxton, (Jim Iley aarrgghhh!) Tony Parkes, Ken Dalglish, Ray Harford,Woy Hodgson, Graeme Souness, Mark Hughes, Sam Allardyce phenomenon that is our Blue & White Army.

Fingers crossed for someone with some passion for the game...

You forgot Paul ince

[philipl]

Here is an alternative hypothesis.

Wednesday went better than planned so the Ali Syed team popped back to see the boss to agree face-to-face how to close out the deal given the risks posed by competitors known and unknown, at least one of which has very deep pockets and at least one of which is extremely determined to the point, perhaps, of playing dirty.

Just a hypothesis.

I guess that somebody between the Trust, Rothschilds, BDO, Price Waterhouse, Allen & Overy, Citigate Drew Rogerson and no doubt others will have asked with rather more capability, force and insistence than the Premier League has a reputation for doing:

"OK, Mr multi-billionaire, prove it exists and we want proof positive it is all clean"

...quite a long time ago.

[nicko]

Nicko, in your opinion do you believe he would have got this far without having the huge amounts of money he has promised the club or would he have had to prove it to the Trust/Rothschild by now?

There is money to be seen in the books and in the banks.

Due diligence should be able to tell where it came from - or certainly ask.

But the Premier League - conscious of past disasters elsewhere - want to know more because of the Portsmouths of this world showing them up as fools.

THAT was why the London allegations against Syed were a bigger issue than they may have appeared. It does not quite fit with the rest of his current story which would certainly appear to be the mushrooming growth of activity since the 1 billion dollar loan.

Anyway [just seen what was printed] and some key details have been missed out of the original report. Like the fact that the Syed team are back and that at least one rival is very much still interested too.

[imy9]

Is that rival the extra secretive one who potentially could be richer or the aussie group?

[chaddyrovers]

Syed's people are back in town for the second time in a matter of days.

Their first visit ended abruptly - probably prompting the manager to say it was 'doubtful' which is the same status I believed it was in on Wednesday.

However they have come back and are intending to have it all in place by Monday.

The Premier League have not done any Fit and Proper Persons test, but want to know where the money is coming from and how it will be spent.

The Syed side are convinced they can do the deal, there are many around - from various areas - who think it will fail.

Fortunately there should be an answer to that very shortly.

Surely Syed Ali would have to shown where the money coming from and that he's got the money before he got to look at the club's accounts.

Wonder if Mr Ali would be owner by the weekend and the game against Fulham. If so, do you think he will be parade on the pitch before the game or halftime.

[jodrell]

Nicko do you know why Syed‘s team went off in a huff? Or is it not for public Knowledge ?

[T4E]

This is bloody ridiculous now.

All we want to know is does he have the cash he says he does, or not. It's simple. If the club have been diligent enough that they've checked and are happy, then for christ sake come out and tell us. Why not appease the fans? The silence on this subject worries me greatly - either he doesnt have the cash, or we've not bothered checking.

They need to tell us now. Not after the deal is done, not tomorrow, not next week, right bloody now.

Doin' my head in, this.

[ada2020]

Lol T4E, keep stamping your feet I'm sure the club will bow to your wishes sooner or later.

They don't have to tell us anything, I don't understand why people will not place confidence in the trust and their advisors to do things right.

I do not believe for a second that proof of funds has not been addressed and confirmed, so why the hissy fit?

Everyone on this thread is frustrated, but the club has always conducted it's business privately.

[Guest bluerovers]

The Premier League have not done any Fit and Proper Persons test, but want to know where the money is coming from and how it will be spent.

That's because there's no such thing, it called the Owners’ and Directors’ Test and is laid out here for y'all....

SECTION D

DIRECTORS & DIRECTORS’ REPORTS

Definitions

1. For the purpose of this Section of these Rules:

1.1 “Auditors” means registered auditors appointed by a Club to audit its accounts who

have not been disqualified by the Board under the provisions of Rule D.36;

1.2 “Auditors’ Report” means a report in Form 3(1);

1.3 “Bankruptcy Order” means an order adjudging an individual bankrupt;

1.4 “Bankruptcy Restriction Order” and “Interim Bankruptcy Restriction Order” mean

orders made under the provisions of Schedule 4A of the Insolvency Act 1986;

1.5 “Club” includes any Associated Undertaking, Fellow Subsidiary Undertaking, Group

Undertaking, or Parent Undertaking of such Club;

1.6 “Concert Party” means any person with which any relevant person is acting in concert

within the meaning of paragraphs (2) to (5) (inclusive) of the definition of “acting in

concert” in the City Code on Takeovers and Mergers, or would be so acting in concert if

the City Code on Takeovers and Mergers applied in the relevant case;

1.7 “Connected Person” means any Person who directly or indirectly possesses or is

entitled to acquire more than 30 per cent of:

1.7.1 the issued ordinary share capital of the company; or

1.7.2 the loan capital (save where loan capital was acquired in the ordinary course of

the business of lending money) and issued share capital of the company, or

1.7.3 the voting power in the company, or

1.7.4 the assets of the company which would be available for distribution to equity

holders in the event of winding up of the company.

1.8 “Control” means the power of a Person to exercise, or to be able to exercise or acquire,

direct or indirect control over the policies, affairs and/or management of a Club, whether

that power is constituted by rights or contracts (either separately or in combination)

and having regard to the considerations of fact or law involved, and, without prejudice

to the generality of the foregoing, Control shall be deemed to include:

1.8.1 the power (whether directly or indirectly and whether by the ownership of the

share capital, by the possession of voting power, by contract or otherwise

including without limitation by way of membership of any Concert Party) to

appoint and/or remove all or such of the members of the board of directors of

the Club as are able to cast a majority of the votes capable of being cast by the

members of that board; and/or

1.8.2 the holding and/or possession of the beneficial interest in, and/or the ability to

exercise the voting rights applicable to, shares or other securities in the Club

(whether directly, indirectly (by means of holding such interests in one or more

other persons) or by contract including without limitation by way of membership

of any Concert Party) which confer in aggregate on the holder(s) thereof 30 per

cent or more of the total voting rights exercisable at general meetings of the Club;

For the purposes of the above, any rights or powers of a Nominee for any Person or of an

Associate of any Person or of a Connected Person to any Person shall be attributed to that

Person;

1.9 “Declaration” means a declaration in Form 2A;

1.10 “Director” means any person occupying the position of director of a Club whose

particulars are registered or registrable under the provisions of section 162 of the Act

and includes a shadow director, that is to say, a person in accordance with whose

directions or instructions the directors of the Club are accustomed to act, or a Person

having Control over the Club, or a Person exercising the powers that are usually

associated with the powers of a director of a company;

1.11 “Individual Voluntary Arrangement” means an arrangement made under the

provisions of Part VIII of the Insolvency Act 1986;

1.12 “Material Transactions” has the meaning set out in Rule D.26;

1.13 “Objectives” has the meaning set out in Rule D.34;

1.14 “Report” means a report in Form 3(2);

1.15 “Shares” includes securities;

1.16 “Spent Conviction” means a conviction in respect of which the offender is treated as

rehabilitated for the purposes of the Rehabilitation of Offenders Act 1974 or, where this

Act does not apply for any reason, a conviction which would be so treated had the

provisions of the Act applied.

1.17 “Third Party Payment” means any payment made or liability incurred (other than

Compensation Fees, remuneration or payments to or for the benefit of Agents referred

to in Rule D.26) by or on behalf of a Club in respect of a Player, including an Image

Contract Payment.

PART 1 - DIRECTORS

Owners’ and Directors’ Test

2. A Person shall be disqualified from acting as a Director and no Club shall be permitted to have

any Person acting as a Director of that Club if:

2.1 either directly or indirectly he is involved in or has any power to determine or influence

the management or administration of another Club or Football League club; or

2.2 either directly or indirectly he holds or acquires any Significant Interest in a Club while he

either directly or indirectly holds any interest in any class of Shares of another Club; or

2.3 he becomes prohibited by law from being a Director (including without limitation as a

result of being subject to a disqualification order as a director under the Company

Directors Disqualification Act 1986, or being subject to the terms of an undertaking

given to the Secretary of State under that Act, unless a court of competent jurisdiction

makes an order under that Act permitting an appointment as a Director); or

2.4 he has a conviction (which is not a Spent Conviction) imposed by a court of the United

Kingdom or a competent court of foreign jurisdiction:

2.4.1 in respect of which an unsuspended sentence of at least 12 months’

imprisonment was imposed; or

2.4.2 in respect of any offence involving any act which would reasonably be

considered to be dishonest (and, for the avoidance of doubt, irrespective of the

actual sentence imposed); or

2.4.3 in respect of an offence set out in the Appendix 12 Schedule of Offences or a

directly analogous offence in a foreign jurisdiction (and, for the avoidance of

doubt, irrespective of the actual sentence imposed); or

2.5 he makes an Individual Voluntary Arrangement or becomes the subject of an Interim

Bankruptcy Restriction Order, a Bankruptcy Restriction Order or a Bankruptcy Order; or

2.6 he is or has been a Director of a Club which, while he has been a Director of it, has

suffered 2 or more unconnected Events of Insolvency (and for the purposes of this Rule

D.2.6 and Rule D.2.7 a person shall be deemed to have been a Director of a Club which

has suffered an Event of Insolvency if such Event of Insolvency occurred in the 30 days

immediately following his having resigned as a Director of that Club); or

2.7 he has been a Director of 2 or more Clubs or clubs each of which, while he has been a

Director of them, has suffered an Event of Insolvency; or

2.8 he is subject to a suspension or ban from involvement in the administration of a sport

by any ruling body of a sport that is registered with UK Sport or Sport England, or any

corresponding national or international association, whether such suspension or ban is

direct or indirect (for example a direction to Persons subject to the jurisdiction of the

ruling body that they should not employ, contract with or otherwise engage or retain

the services of an individual); or

2.9 he is subject to any form of suspension, disqualification or striking-off by a professional

body including, without limitation, the Law Society, the Solicitors’ Regulation Authority,

the Bar Council or the Institute of Chartered Accountants of England and Wales or any

equivalent body in any jurisdiction outside England and Wales, whether such suspension,

disqualification or striking-off is direct or indirect (for example a direction to Persons

subject to the jurisdiction of the professional body that they should not employ,

contract with or otherwise engage or retain the services of an individual); or

2.10 he is required to notify personal information pursuant to Part 2 of the Sexual Offences

Act 2003;

2.11 he is found to have breached (irrespective of any sanction actually imposed), or has

admitted breaching (irrespective of whether disciplinary proceedings were brought or

not):

2.11.1 Rule V.26; or

2.11.2 Rule E.8 of the Rules of the Football Association (as amended, or replaced from

time to time); or

2.11.3 any other rules in force from time to time in relation to the prohibition on

betting on football matches played in England and Wales.

Submission of Declaration

3. Not later than 14 days before the commencement of each Season each Club shall submit to

the Secretary a duly completed Declaration in respect of each of its Directors signed by the

Director to which it refers and by an Authorised Signatory, who shall not be the same person.

4. Within 21 days of becoming a member of the League each Club promoted from the Football

League shall likewise submit to the Secretary a duly completed Declaration in respect of each

of its Directors signed as aforesaid.

5. If any person proposes to become a Director of a Club (including for the avoidance of doubt

by virtue of being a shadow director or acquiring Control of the Club):

5.1 the Club shall no later than 10 Working Days prior to the date on which it is anticipated

that such person shall become a Director submit to the Secretary a duly completed

Declaration in respect of that person signed by him and by an Authorised Signatory;

5.2 within 5 Working Days of receipt thereof the Secretary shall confirm to the Club

whether or not he is liable to be disqualified as a Director under the provisions of Rule

D.2, and if he is so liable the Board will take the steps set out in Rule D.7; and

5.3 he shall not become a Director until the Club has received confirmation from the

Secretary pursuant to Rule D.5.2 above that he is not liable to be disqualified as a

Director under the provisions of Rule D.2.

Change of Director’s Circumstances

6. Upon the happening of an event which affects any statement contained in a submitted

Declaration:

6.1 the Director in respect of whom the Declaration has been made shall forthwith give full

written particulars thereof to his Club; and

6.2 the Club shall thereupon give such particulars in writing to the Secretary.

Disqualification of a Director

7. Upon the Board becoming aware by virtue of the submission of a Declaration or in the

circumstances referred to in Rule D.6 or by any other means that a person is liable to be

disqualified as a Director under the provisions of Rule D.2, the Board will:

7.1 give written notice to the person that he is disqualified, giving reasons therefore, and (in

the case of a person who is a Director) require him forthwith to resign as a Director; and

7.2 give written notice to the Club that the person is disqualified, giving reasons therefore,

and (in the case of a person who is a Director) in default of the Director’s resignation, it

shall procure that within 28 days of receipt of such notice the Director is removed from

his office as such.

Disciplinary Provisions

8. Any Club which fails to comply with its obligations under the foregoing provisions of this Section

of these Rules or which submits a Declaration which is false in any particular shall be in breach

of these Rules and will be liable to be dealt with in accordance with the provisions of Section R.

9. Any Director who fails to comply with his obligations under the foregoing provisions of this

Section of these Rules or who fails to complete and sign a Declaration and any Director or

Authorised Signatory who signs a Declaration which is false in any particular shall likewise be

in breach of these Rules and liable to be dealt with as aforesaid.

Suspension of the Club

10. If a Director who receives a notice under the provisions of Rule D.7.1 fails to resign and his

Club fails to procure his removal from office as required, or if a Club proceeds with the

appointment as a Director of a person to whom Rule D.5 applies despite having received a

notice under the provisions of Rule D.7.2, the Board shall have power to suspend the Club by

giving to it notice in writing to that effect.

11. A suspended Club shall not play in:

11.1 any League Match; or

11.2 any Premier Academy League Match; or

11.3 any Premier Reserve League Match; or

11.4 any of the competitions set out in Rules E.10 and E.11; or

11.5 any other match.

12. For the purposes of the League competition, the Board shall have power to determine how the

cancellation of a League Match caused by the suspension of one of the Clubs which should

have participated in it shall be treated.

13. Upon being reasonably satisfied that the Director of the suspended Club has resigned or has

been removed from office, the Board shall have power to withdraw the suspension by giving

to it notice in writing to that effect.

Appeal against Disqualification of a Director

14. Any person or Club who receives notice under Rule D.7 above has a right to appeal the

disqualification notice(s) in accordance with the following Rules. However, for the avoidance

of doubt, unless and until any such appeal is upheld, the disqualification notice(s) will take full

effect.

15. Any person or Club wishing to appeal a disqualification notice must, within 21 days of the

date of that notice, send or deliver to the Secretary a notice of appeal, setting out full details

of the grounds of appeal of that person or Club, together with a deposit of £1,000.

16. The only grounds upon which a person or Club may appeal a disqualification notice are:

16.1 none of the Disqualifying Events set out in Rule D.2 apply; or

16.2 in respect of a conviction of a court of foreign jurisdiction under Rule D.2.4, or a

suspension or ban by a sport ruling body under Rule D.2.8, or a suspension,

disqualification or striking-off by a professional body under Rule D.2.9, there are

compelling reasons why that particular conviction, suspension, ban, disqualification or

striking-off, should not lead to disqualification; or

16.3 it can be proven that the Disqualifying Event has, or will within 21 days of the notice of

appeal, cease to exist;

16.4 the Disqualifying Event is a conviction imposed between 19th August 2004 and 5th June

2009 for an offence which would not have led to disqualification as a Director under

Premier League Rules as they applied during that period;

16.5 the Disqualifying Event is a conviction which is the subject of an appeal which has not

yet been determined and in all the circumstances it would be unreasonable for the

individual to be disqualified as a Director pending the determination of that appeal.

17. An appeal under the provisions of Rule D.14 shall lie to an appeal tribunal which shall hear the

appeal as soon as reasonably practicable. The appeal tribunal shall be appointed by the Board

and shall comprise 3 members of the Panel including a legally qualified member who shall sit

as chairman of the tribunal.

18. The chairman of the appeal tribunal shall have regard to the procedures governing the

proceedings of Commissions and Appeal Boards set out in Section R of these Rules but, subject

as aforesaid, shall have an overriding discretion as to the manner in which the appeal is

conducted.

19. The person or Club advancing the appeal shall have the onus of proof of the matters set out

in the appeal on the balance of probabilities.

20. If the members of the appeal tribunal are not unanimous the decision of the majority of them

shall prevail.

21. The appeal tribunal shall give written reasons for its decision.

22. Members of the appeal tribunal shall be entitled to receive from the Company a reasonable

sum by way of fees and expenses.

23. The appeal tribunal shall have the following powers:

23.1 to allow the appeal in full;

23.2 to reject the appeal;

23.3 if it determines that a Disqualifying Event exists, to determine that the individual

concerned should not be banned for that period during which they will remain subject

to it and substitute such period as it shall reasonably determine, having regard to all of

the circumstances of the case.

23.4 to declare that no Disqualifying Event ever existed or that any Disqualifying Event has

ceased to exist;

23.5 to order the deposit to be forfeited to the Company or to be repaid to the appellant

person or Club;

23.6 to order the appellant person or Club to pay or contribute to the costs of the appeal

including the fees and expenses of members of the appeal tribunal paid or payable under

Rule D.22;

24. The decision of the appeal tribunal shall be final and binding on the appellant person and Club.

Persons Prohibited by Law from entering the United Kingdom etc

25. No Person may acquire any Holding in a Club if, pursuant to the law of the United Kingdom

or the European Union:

25.1 he is prohibited from entering the United Kingdom; or

25.2 no funds or economic resources may be made available, directly or indirectly, to or for

his benefit.

PART 2 - DIRECTOR’S REPORTS

Material Transactions

26. For the purposes of a Report Material Transactions shall comprise any payment or financial

obligation (or any series of connected payments or financial obligations relating to the same

transaction) made or undertaken by or to or in favour of a Club and recorded in its accounting

and administration records which exceeds (or in the case of more than one payment or

financial obligation in the aggregate exceed) in value £25,000 and which is (or are) in respect

of any of the following:

26.1 Compensation Fees, Contingent Sums or Loan Fees; or

26.2 remuneration of Players (including, for this purpose, any benefits they are entitled to

receive); or

26.3 payments to or for the benefit of Agents; or

26.4 Third Party Payments

and remuneration of and payments to or for the benefit of Players or Agents shall in each case

include payments made by or on behalf of a Club to or for the benefit of a Player or Agent (as

the case may be) including, for this purpose, to any company or trust in which the Player or

Agent (as the case may be) has an interest.

Record of Material Transactions

27. Brief particulars of each Material Transaction sufficient to identify its date(s), its amount(s)

and the nature of it shall be recorded by a Club and the record shall be made available on

demand to its Directors, its Auditors and the League.

28. Directors of a Club (including non-executive Directors) shall take such steps as are reasonably

necessary to satisfy themselves that their Club’s record of Material Transactions is complete

and correct.

Preparation of the Report

29. At the end of each of its accounting periods the Directors of each Club shall prepare or cause

to be prepared a Report.

30. Subject to Rule D.31 below, upon a Report having been prepared it shall be signed and dated

by each of the Directors of the Club.

31. Any such Director who for any reason is unwilling to sign the Report shall note the Report to

that effect, giving full reasons.

32. Any Director signing a Report who knows or ought reasonably to know that it or any part of

it is false or misleading in any way and any Director noting a Report knowing that such note

or the reasons given by him are false or misleading in any way will in either case act in breach

of these Rules and will be liable to be dealt with in accordance with the provisions of

Section R.

33. Managers, Players and Officials shall cooperate fully with the Directors and Auditors of their

Club in the preparation of Reports and Auditors’ Reports.

Objectives

34. The Objectives referred to in the Report are to ensure that:

34.1 in relation to Compensation Fees:

34.1.1 the Club has formally adopted a written transfer policy identifying who on its

behalf has authority to negotiate Players’ transfers and the terms of Players’

contracts, what approvals (if any) are required before such authority is exercised

and who is the Authorised Signatory;

34.1.2 Material Transactions have been entered into by the Club strictly in accordance

with its transfer policy and the provisions of these Rules;

34.2 in relation to remuneration of Players, details of their remuneration and any benefits

they are entitled to receive are fully disclosed in the Players’ contracts and the terms

thereof have been strictly observed;

34.3 in relation to payments to or for the benefit of Agents:

34.3.1 all Material Transactions between Clubs and Agents are evidenced in writing; and

34.3.2 all Material Transactions between Clubs and Agents are authorised by a person

appointed by the Directors of the Club for that purpose;

34.4 in relation to Third Party Payments:

34.4.1 all contracts and arrangements in relation thereto have been entered into by the

Club with the authority of its Directors or a person appointed by them for that

purpose; and

34.4.2 the terms of such contracts and arrangements have been strictly observed;

34.5 in all such cases all elements of the Material Transaction have been accurately and

completely entered into the accounting and administration records of the Club on a

timely basis, including the record required by Rule D.27.

Submission of the Report

35. Within 10 months of the end of each of its accounting periods each Club shall cause its

Auditors to submit its Report together with its Auditors’ Report to the Secretary on behalf of

the Board and the Board shall be entitled to rely on the contents of any Report and any

Auditors’ Report in exercising its powers set out in Section R of these Rules.

Disqualification

36. The Board shall have power at any time to disqualify Auditors from preparing Auditors’

Reports.

37. It shall be a condition precedent to the exercise of such power that the Board shall have

communicated with the Club for which the Auditors in question act setting out fully its

reasons and inviting the Club and its Auditors within 21 days to show cause why its Auditors

should not be disqualified.

38. A Club to which such a communication is addressed shall be entitled within the said period of

21 days to require the Board to exercise its power of inquiry under Rule R.1 and to inquire into

the reasons for the proposed disqualification and both the Club and the Auditors in question

shall be entitled to appear before the Board when conducting such inquiry.

39. In the event of a Club’s Auditors being disqualified under the provisions of this Rule, the Club

in question shall as soon as practicable appoint other auditors to replace them.

[T4E]

Lol T4E, keep stamping your feet I'm sure the club will bow to your wishes sooner or later.

They don't have to tell us anything, I don't understand why people will not place confidence in the trust and their advisors to do things right.

I do not believe for a second that proof of funds has not been addressed and confirmed, so why the hissy fit?

Everyone on this thread is frustrated, but the club has always conducted it's business privately.

Now is the time for full, open and frank honesty. Not secrecy.

It would be foolhardy to put our faith completely in the board and not question anything. Fans of the likes of Portsmouth, Leeds, Leicester etc will tell you that.

Those who don't learn from history are doomed to repeat it. We're lucky enough to be able to learn from the mistakes of others rather than needing to make our own. This is OUR due dilligence - and we've every right to carry it out.

[nicko]

Is that rival the extra secretive one who potentially could be richer or the aussie group?

The extra-secretive lot have met Rovers - it's just a question of whether they want to go ahead with it. I have reason to believe they are still active on this front. But the people running the bid and are dooing a good job of keeping their identity under wraps.

I don't know about Aussies, but the Screws ran it and I think their information was quite good...at the time.

[philipl]

There is money to be seen in the books and in the banks.

Due diligence should be able to tell where it came from - or certainly ask.

But the Premier League - conscious of past disasters elsewhere - want to know more because of the Portsmouths of this world showing them up as fools.

THAT was why the London allegations against Syed were a bigger issue than they may have appeared. It does not quite fit with the rest of his current story which would certainly appear to be the mushrooming growth of activity since the 1 billion dollar loan.

Anyway [just seen what was printed] and some key details have been missed out of the original report. Like the fact that the Syed team are back and that at least one rival is very much still interested too.

Agreed- I thought they were a potential deal killer.

Reading the new PL rules, the Syed team need a convincing set of reasons for why he did not know he had a County Court appearance. Given everything seems to be moving forwards for Syed right now, a reasonable guess is those reasons were informally put to the PL early last week and that waiting for the PL to respond was part of why we had to wait for the press release until Friday.

Presumably the People subs cut the missing parts from your report?

[1864roverite]

I can see it now.

Mr Ali walks onto the Ewood turf, scarf and hat on, wearing our blue and white halved shirt, takes the ball, keepy uppy round to the Darwen End, he then does a Frank Worthy, whips the ball over his head then dribbles it all the way to the Blackburn End, as he reaches the penalty spot, he stops, raises his hands in worship to the Ewood faithful and slams the ball into the top corner.

Game, set and match.

Blackburn Rovers begins a new era !

We may see him acknowledge the support but I dont see this chap or his team doing anything other than keeping a low profile. Although, you never know, he may pop in for an orange juice in the Brown Cow !

[Guest bluerovers]

Oh my Owners and Dirctors Test post was deleted?!?!? Have you hired the 5Live Investigate Facebook group mods

Oh well, I guess it took up too much space so I'll just link to it this time

http://www.redandwhitekop.com/forum/index.php?topic=261637.0

edit...

Temporarily removed the text of the "Owners’ and Directors’ Test" posted by bluerovers until I can find the legal status of it (i.e. is it copyrighted), for now, the text is on Liverpool forum at http://www.redandwhitekop.com/forum/index.php?topic=261637.0

fair enough

[Glenn]

Temporarily removed the text of the "Owners’ and Directors’ Test" posted by bluerovers until I can find the legal status of it (i.e. is it copyrighted), for now, the text is on Liverpool forum at http://www.redandwhitekop.com/forum/index.php?topic=261637.0

[Guest bluerovers]

I can see it now.

Mr Ali walks onto the Ewood turf, scarf and hat on, wearing our blue and white halved shirt, takes the ball, keepy uppy round to the Darwen End, he then does a Frank Worthy, whips the ball over his head then dribbles it all the way to the Blackburn End, as he reaches the penalty spot, he stops, raises his hands in worship to the Ewood faithful and slams the ball into the top corner.

Game, set and match.

Blackburn Rovers begins a new era !

I hope not! That's what Knighton did at Man U, bad omen!!

[Tyrone Shoelaces]

Syed's people are back in town for the second time in a matter of days.

Their first visit ended abruptly - probably prompting the manager to say it was 'doubtful' which is the same status I believed it was in on Wednesday.

However they have come back and are intending to have it all in place by Monday.

The Premier League have not done any Fit and Proper Persons test, but want to know where the money is coming from and how it will be spent.

The Syed side are convinced they can do the deal, there are many around - from various areas - who think it will fail.

Fortunately there should be an answer to that very shortly.

Do you mean this Monday or Easter Monday ?