[Archived] Rovers Trust Press Release and Launch - BRSIT and BRST merge

[Paul]

A Press Release was issued a few minutes ago announcing the merger of BRSIT and BRST to form the new Rovers Trust.

To visit the new Rovers Trust website and learn about the groups aims and ambitions please go to http://roverstrust.co.uk/ and to read the Press Release follow the link under Latest News.

Our membership drive begins today! This the opportunity for all Rovers fans to take active steps towards bringing Blackburn Rovers into Community Ownership. This is about what YOU can do for YOUR club - starting today

Today you can join and become a member to help support the drive for community ownership of the club - putting the club where it should be, in the supporters hands.

[SouthAussieRover]

Good luck is all I can say.

[ABBEY]

Let the willy waving comence ... Gentlemen rev your ######

[philipl]

A less propitious day for announcing this important move is hard to imagine.

The lack of comment shows how utterly gutted the supporters are feeling today.

The farce of Venky's/Kean/whoever is the dark force shows just how badly this initiative is needed...

[Tom]

Good luck and a good move although I find it disappointing that WW is still a spokesperson for the movement after some of his comments in the past

[PAFELL]

Good luck and a good move although I find it disappointing that WW is still a spokesperson for the movement after some of his comments in the past

That is also my misgiving WW involvement.

[mhead]

There are 'doers' and 'complainers'

WW = doer PAFell= complainer

Who would you want in the trenches witrh you?

[Rover_Shaun]

There are 'doers' and 'complainers'

WW = doer PAFell= complainer

Who would you want in the trenches witrh you?

Kelly Brook?

[deftangel]

I have just signed up.

It's going to be difficult enough for any entity to get a share of the club as it is. There is no room for competing endeavours in this regard so I think fans are just going to have to accept the involvement of nearly everybody with a vested interest in Rovers if this is going to get anywhere. That's going to include Wayne Wild like it or not but believe it or not we're all united by that one thing.

My registration isn't endorsing him for any future role in the running of the club or necessarily any statements he might have made previously. Fans should judge the merits of the trust on what it says publicly, not merely on what one person might have said in the past.

[TBTF]

Good luck is all I can say.

Interesting when you look at this and then look at The Q&A on another thread with Ian Battersby.He talks of how difficult a deal might be to pull off now FOR ANY PARTY including his own i think. Its answer to Question 10 with the Rovertaken guy.

Basically Venkys have just turned us into a basket case and you just sense a Pompey coming here whether thats sooner or later.

[Guest Wen Y Hu]

BRFCS version of the announcement is now published to the front page here.

[Daniel Louis Grabko (Dan)]

Interesting when you look at this and then look at The Q&A on another thread with Ian Battersby.He talks of how difficult a deal might be to pull off now FOR ANY PARTY including his own i think. Its answer to Question 10 with the Rovertaken guy.

Basically Venkys have just turned us into a basket case and you just sense a Pompey coming here whether thats sooner or later.

TBTF, I agree with what Ian says there. He's saying that due to all that may or may not have gone on in the background financially, doing due diligence is most likely going to be a complete nightmare, and for any potentially interested investors that Seneca may or may not have lined up, this is not very attractive for them as it increases their risk. Basically it will be extremely difficult to make a deal happen with the traditional investor-conglomerate type of deal, as the bottom line is that these investors of course are in it to make money, and thus are averse to the risks that due diligence would inevitably uncover. There aren't a lot of potential buyers out there that wouldn't see this aspect as a major obstacle...

[TBTF]

TBTF, I agree with what Ian says there. He's saying that due to all that may or may not have gone on in the background financially, doing due diligence is most likely going to be a complete nightmare, and for any potentially interested investors that Seneca may or may not have lined up, this is not very attractive for them as it increases their risk. Basically it will be extremely difficult to make a deal happen with the traditional investor-conglomerate type of deal, as the bottom line is that these investors of course are in it to make money, and thus are averse to the risks that due diligence would inevitably uncover. There aren't a lot of potential buyers out there that wouldn't see this aspect as a major obstacle...

Thanks Daniel= i had hoped i was reading it right!!

Are you suggesting that the Fans Trust way of doing it would be easier as in you wouldn't have such obstacles ? I might be a bit slow on the uptake but i would have thought the same obstacles would apply to everybody in the same way?

I just get the impression whoever comes in next might be taking on a massive , massive financial problem with these nutters.

It was quite interesting to read what Battersby said about fan group involvement.Did you think the same Daniel and have you had any contact? he does say he can't but i did hope/wonder!!

[Daniel Louis Grabko (Dan)]

In a way, yes, I am suggesting this. I am not suggesting that some of the potential risks of discovering illegal activities would not have a detrimental effect on any deal done by anyone. And when I say that I am NOT suggesting knowledge that there has been any wrong doing or cooking of the books so to speak - that would be pure speculation, and I am not here to speculate on such - however, for example, if it was discovered during due diligence that improper payments had been made, rules had been broken, taxes hadn't been properly paid (as with Pompey), or it turns out the Club "owe" Venky's millions and millions because they have been financing the Club through debt rather than equity (meaning that they create loans payable to themselves rather than putting real investment into the Club) then any or all of these things could be real hinderances to any potential buyer, including Rovers Trust.

However, other things, like an analysis of fixed assets book value versus market value, player asset valuation problems, etc. that would be real concerns to investors keen on a return (read ALL traditional buyouts and takeovers) would not be issues for Rovers Trust, because as supporters, we aren't looking to extract or derive a return on our assets, but rather would care only for the well being of the Club and the Community, thus pumping back in what traditional investors would see as an opportunity to line pockets. Such items would only be problems in that they may become sticking points in negotiating a price for the Club.

[TBTF]

In a way, yes, I am suggesting this. I am not suggesting that some of the potential risks of discovering illegal activities would not have a detrimental effect on any deal done by anyone. And when I say that I am NOT suggesting knowledge that there has been any wrong doing or cooking of the books so to speak - that would be pure speculation, and I am not here to speculate on such - however, for example, if it was discovered during due diligence that improper payments had been made, rules had been broken, taxes hadn't been properly paid (as with Pompey), or it turns out the Club "owe" Venky's millions and millions because they have been financing the Club through debt rather than equity (meaning that they create loans payable to themselves rather than putting real investment into the Club) then any or all of these things could be real hinderances to any potential buyer, including Rovers Trust.

However, other things, like an analysis of fixed assets book value versus market value, player asset valuation problems, etc. that would be real concerns to investors keen on a return (read ALL traditional buyouts and takeovers) would not be issues for Rovers Trust, because as supporters, we aren't looking to extract or derive a return on our assets, but rather would care only for the well being of the Club and the Community, thus pumping back in what traditional investors would see as an opportunity to line pockets. Such items would only be problems in that they may become sticking points in negotiating a price for the Club.

I think any notion of 'lining pockets'' in any new ownership is far fetched.Be happy to just pay the bills looking at the players wages!! You didnt answer the last point -is that a deliberate or sensitive question?

[BG]

If you pledged to the Wayne Wild led trust, do you have to re-pledge to this new trust?

[Ozz]

No. All pledges made to BRSIT still exist. BRSIT still exists under the umbrella trading name of Rovers Trust. If you have pledged to BRSIT already Rovers Trust will be in touch with you soon to confirm this.

[Daniel Louis Grabko (Dan)]

I think any notion of 'lining pockets'' in any new ownership is far fetched.Be happy to just pay the bills looking at the players wages!! You didnt answer the last point -is that a deliberate or sensitive question?

Fair enough comment. It was a bit of a cynical way to put it. I just wanted to highlight that a traditional investor always has a return on investment as a high priority. As for the last point, no, it is not a sensitive question at all, I just missed it! Apologies. We have reached out to Mr. Battersby and Seneca in general in the past, but have not had any discussions whatsoever about working together at this juncture. If there were to be any kind of cooperation or joint bid, it would be a major strategy decision and one in which the Committee would not have a mandate to act on its own. In order to proceed in that direction we would have to call a Special General Meeting in order for it to be proposed and put up for a vote by the members. It may also be premature at this stage.

[Guest Wen Y Hu]

I've updated the link in Post #11 above so that it points at the article now uploaded to the new server (here) that we are migrating to. The content of the article is identical.

[Earlydoors]

F*****' Peoples Front of Judea

[Ozz]

Please can you take the time to consider buying tickets for the Sportsmans Dinner, which is a fund raising event for the The Rovers Trust/

Click Here For More up-to-date details and prices.

[Roost]

Good luck and a good move although I find it disappointing that WW is still a spokesperson for the movement after some of his comments in the past

The credibility of this guy nosedived following his churlish comments on Twitter, and because of this neither myself or many that I know, will sign up knowing that he is still involved.

Good idea, wrong people.

[Roost]

Good luck and a good move although I find it disappointing that WW is still a spokesperson for the movement after some of his comments in the past

The credibility of this guy nosedived following his churlish comments on Twitter, and because of this neither myself of many that I know, will sign up knowing that he is still involved.

Good idea, wrong people.

[Blackburn Ender]

Roost, there are a lot of very good and capable people all working very hard to help make Rovers Trust a success.

It is not about any one person.

You seem to agree with the aims of Rovers Trust so back that.

[PAFELL]

The credibility of this guy nosedived following his churlish comments on Twitter, and because of this neither myself or many that I know, will sign up knowing that he is still involved.

Good idea, wrong people.

Sadly I agree. With WW involved, not good imo.

The idea is good. but not everyone can afford £1000 - not in the current climate.