Paul Posted February 6, 2011 Share Posted February 6, 2011 Some three or four weeks back I decided to make no further remarks, for some time, concerning the recent change of ownership and management of Blackburn Rovers. I had grown weary of the discussions and their tone. After a great deal of thought I have decided to post information which is in the public domain but may not be available to many fans. People will read this information and argue it is normal business practice, and I agree it is. I also agree the club may well have had similar arrangements in the past, I don't know. I think though it is reasonable for fans to be aware of this recent development and to form their own views. It is my view this mortgage or charge gives the club access to borrowings in the region of £35-40m, which I believe is our annual income from PL broadcasting rights. No doubt someone will know the exact figure. The detail below is taken from the file copy at Companies House: Certificate of the Registration of a Mortgage or Charge Pursuant to section 869(5) & (6) of the Companies Act 2006 Company No. 53482 Charge No. 11 The Registrar of Companies for England and Wales hereby certifies that a Deed of Assignment dated 20th December 2010 and created by Blackburn Rovers Football and Athletic PLC (THE) for securing all monies due or to become due from the company to Barclays Bank PLC on any account whatsoever was registered pursuant to Chapter 1 Part 25 of the Companies Act 2006 on the 29th December 2010 Given at Companies House, Cardiff the 4th January 2011 The following is extracted, word for word, from the "Short particulars of the property mortgaged or charged": 1. Assignment 1.1 The Assignor with full title guarantee assigns (by way of security for payment and discharge of the Secured Sums) to the Bank all of its right of title and interest (present or future) in and to all amounts (excluding VAT) due or owing to or which may be due or owing to or purchased or otherwise acquired by the Assignor from the Premier League for the 2010/2011 association football season in relation to or in connection with the Central Funds Definition Schedule "Central Funds" means all or any part of any UK Broadcasting Money, Overseas Broadcasting Money, Commercial Contract Money, Radio Contract Money and/or Title Sponsorship Money arising from or relating to the provision by the Premier League Clubs of rights to the Premier League to enable it to fulfill its agreement for the broadcasting and televising and the recording and/or filing of any association football match involving such clubs. "Charged Property" means all the assets, rights and revenues whatsoever (present and future) of the Assignor as are assigned (or agreed so to be) under the Assignment There are a number of other items included in the Definition Schedule. As I only have this document as a PDF from Companies House it would take too much space to re-type the entire document…….and probably bore you all to death Link to comment Share on other sites More sharing options...
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