[Archived] Bayes, Seneca and Nixon interview

[Dunnfc]

I thought Nixon came across quite well tbh. Not normally a fan but he has a different perspective on things, he's not a fan but his football insight on venkys should fill the doubters in.

[Gav]

Just now, Dunnfc said:

I thought Nixon came across quite well tbh. Not normally a fan but he has a different perspective on things, he's not a fan but his football insight on venkys should fill the doubters in.

He's an agenda driven hack Dunn,  talked up Coyle due to his links to the useless twot, you should know better. 

[TBTF]

Just now, Dunnfc said:

Might be the only one but I'm not convinced by Ian B.

Speaks candidly well on the developing situation at the club, he's correct about the structure etc but an investment firm owning us, a man who deals in hedge funds on behalf of investors purchasing a debt ridden club unlikely to ever turn a profit, i'm not sure as surely the investors would want a return on capital provided soon. I think to many are in the anyone but Venkys mode. 

He doesn't ever seem equipped on the financials concerning how much he should expect to be either putting in or what the club will require in terms of capital over the medium term, so much so i actually thought Nixon was pretty on cue there which is strange as it's not impossible to draft and pull something together as i've done on review of other clubs currently plying in L1 etc. I keep seeing this 10 million figure floating around and it's not far off with our still huge operating costs and losses.

I had it down as at least 8 million as additional funding being required on the premise central funds from the promotions of Newcastle parachute monies got split out etc. I found it quite worrying when he addressed Andy Bayes and quipped that fans would be right behind them if the club had no money but was ran right and that appeared to me to be one of the early warning signs along with the acceptance of debt as he could turn it around, i'm sorry Ian but they take that with them, why hamper the clubs inherent future with there legacy and mistakes. He's another one on the short term loans is okay strategy, but failed to consider this would tie HIS future revenue streams up although he did conceede that the amount of interest is exceptionally high.

If he's serious then come on Ian put some meat on the bone and get a proposal out there in the media and get in contact with them. It's not going to be too difficult given Jerome arranged his last Pune visit must be his forth interview now since his investment plan last summer but little action really has prevailed.

Not convinced I'm afraid. 

Hey DunnFC

You seriously think they should conduct this in the media. Didn't they get battered for that last year ? There's not a chance that will happen IMO.

I think also there is no way these people will be taking on the debt. In previous times I have heard him he has always said that's gone and the Club is worthless which it is. He also talked about turning round a distressed business and that it might need capital in the short term in order to develop the medium and long term plan. He went on about 90 day, 3 month, 12 month and 3 year and 5 year plans .He seemed to have a very good grasp of the financial side.

I think these guys are no mugs and know exactly how to tackle it. He did say that it was guesswork until they do Due Diligence and got into the guts of the real finances.

I was actually impressed and thought thank god there is somebody out there that can help.

I listened to it live in the car and listened to it again at home and there is a lot to take in . I think its one of those that does become clearer after a second hearing .

I really like the bit about anybody coming in must understand the culture and DNA of the Club and we must avoid going from frying pan to fire whoever comes in.

I think you are being over critical mate .But that's only my opinion so no doubt I will get battered and abused any minute!!!!

I

[RoversClitheroe]

Just now, TBTF said:

Hey DunnFC

You seriously think they should conduct this in the media. Didn't they get battered for that last year ? There's not a chance that will happen IMO.

I think also there is no way these people will be taking on the debt. In previous times I have heard him he has always said that's gone and the Club is worthless which it is. He also talked about turning round a distressed business and that it might need capital in the short term in order to develop the medium and long term plan. He went on about 90 day, 3 month, 12 month and 3 year and 5 year plans .He seemed to have a very good grasp of the financial side.

I think these guys are no mugs and know exactly how to tackle it. He did say that it was guesswork until they do Due Diligence and got into the guts of the real finances.

I was actually impressed and thought thank god there is somebody out there that can help.

I listened to it live in the car and listened to it again at home and there is a lot to take in . I think its one of those that does become clearer after a second hearing .

I really like the bit about anybody coming in must understand the culture and DNA of the Club and we must avoid going from frying pan to fire whoever comes in.

I think you are being over critical mate .But that's only my opinion so no doubt I will get battered and abused any minute!!!!

I

Spot on.

[TBTF]

Just now, RoversClitheroe said:

Spot on.

The other bit that I really liked was when he stressed about needing to understand the value of where the money and the costs  was being allocated with as much as humanly possible being committed to the football side because its a football club. Total common sense and god knows there is none at present.

 

[blueboy3333]

17 minutes ago, Dunnfc said:

Might be the only one but I'm not convinced by Ian B.

Speaks candidly well on the developing situation at the club, he's correct about the structure etc but an investment firm owning us, a man who deals in hedge funds on behalf of investors purchasing a debt ridden club unlikely to ever turn a profit, i'm not sure as surely the investors would want a return on capital provided soon. I think to many are in the anyone but Venkys mode. 

He doesn't ever seem equipped on the financials concerning how much he should expect to be either putting in or what the club will require in terms of capital over the medium term, so much so i actually thought Nixon was pretty on cue there which is strange as it's not impossible to draft and pull something together as i've done on review of other clubs currently plying in L1 etc. I keep seeing this 10 million figure floating around and it's not far off with our still huge operating costs and losses.

I had it down as at least 8 million as additional funding being required on the premise central funds from the promotions of Newcastle parachute monies got split out etc. I found it quite worrying when he addressed Andy Bayes and quipped that fans would be right behind them if the club had no money but was ran right and that appeared to me to be one of the early warning signs along with the acceptance of debt as he could turn it around, i'm sorry Ian but they take that with them, why hamper the clubs inherent future with there legacy and mistakes. He's another one on the short term loans is okay strategy, but failed to consider this would tie HIS future revenue streams up although he did conceede that the amount of interest is exceptionally high.

If he's serious then come on Ian put some meat on the bone and get a proposal out there in the media and get in contact with them. It's not going to be too difficult given Jerome arranged his last Pune visit must be his forth interview now since his investment plan last summer but little action really has prevailed.

Not convinced I'm afraid. 

Not too sure of the insinuation here. Are you trying to say there is an ongoing connection between the two of them?

 

[RV Blue]

Just now, blueboy3333 said:

Not too sure of the insinuation here. Are you trying to say there is an ongoing connection between the two of them?

 

He did avoid the question about agents when he was on talksport.

[Stuart]

If it turns out that they are pals I think I might give up on football completely.

More likely a necessary evil to get an audience with "Madame".

[Dunnfc]

Just now, blueboy3333 said:

Not too sure of the insinuation here. Are you trying to say there is an ongoing connection between the two of them?

 

I know Jerome introduced him to Venkys in Pune, my conclusion was they both came across each other in the past when Jerome was involved in banking and insurance. 

[blueboy3333]

Just now, Dunnfc said:

I know Jerome introduced him to Venkys in Pune, my conclusion was they both came across each other in the past when Jerome was involved in banking and insurance. 

I'd hope IB addresses this if/when he ever gets control at Ewood. Anyone who is a mate/business associate of Tantric should never get anywhere near Ewood ever again.

[AllRoverAsia]

I can now claim I was there at the birth of the IBTantricgate rumour.

It's a Kennedy moment.

[blueboy3333]

Just now, AllRoverAsia said:

I can now claim I was there at the birth of the IBTantricgate rumour.

It's a Kennedy moment.

It's going to be a long summer.

[chaddyrovers]

39 minutes ago, Dunnfc said:

Might be the only one but I'm not convinced by Ian B.

Speaks candidly well on the developing situation at the club, he's correct about the structure etc but an investment firm owning us, a man who deals in hedge funds on behalf of investors purchasing a debt ridden club unlikely to ever turn a profit, i'm not sure as surely the investors would want a return on capital provided soon. I think to many are in the anyone but Venkys mode. 

He doesn't ever seem equipped on the financials concerning how much he should expect to be either putting in or what the club will require in terms of capital over the medium term, so much so i actually thought Nixon was pretty on cue there which is strange as it's not impossible to draft and pull something together as i've done on review of other clubs currently plying in L1 etc. I keep seeing this 10 million figure floating around and it's not far off with our still huge operating costs and losses.

I had it down as at least 8 million as additional funding being required on the premise central funds from the promotions of Newcastle parachute monies got split out etc. I found it quite worrying when he addressed Andy Bayes and quipped that fans would be right behind them if the club had no money but was ran right and that appeared to me to be one of the early warning signs along with the acceptance of debt as he could turn it around, i'm sorry Ian but they take that with them, why hamper the clubs inherent future with there legacy and mistakes. He's another one on the short term loans is okay strategy, but failed to consider this would tie HIS future revenue streams up although he did conceede that the amount of interest is exceptionally high.

If he's serious then come on Ian put some meat on the bone and get a proposal out there in the media and get in contact with them. It's not going to be too difficult given Jerome arranged his last Pune visit must be his forth interview now since his investment plan last summer but little action really has prevailed.

Not convinced I'm afraid. 

any club need to be run like a business and have proper investment but sensible with a short, medium and long term plans with the proper structure in place.

Why would Venkys take the debt with them? Is the club viable to sell?

any proposal in the media weaken his position? Venkys wont negotiate through the media.

Plus With Venkys you need to be careful cos they have ignored Ian Battersby for over 5 years

Are you saying that Battersby and Jerome are link? I know about the Battersby meeting Venkys. He met Balaji at Ewood Park who arrange the Pune meeting. what recent links have you got?

4th Interview between Pune and Jerome? what investment plan?

36 minutes ago, J*B said:

Agreed, they do not want admin. Which is why it'll be very interesting where this 10m comes from. 

 

If Venkys are still owners then it will have to come from them.

Any takeover would take 4 to 8 weeks to sort out at the earlier

[RoversClitheroe]

He wouldn't be fooled I don't think.

In regards to Jerome.

[TBTF]

Just now, Dunnfc said:

I know Jerome introduced him to Venkys in Pune, my conclusion was they both came across each other in the past when Jerome was involved in banking and insurance. 

it was 2010/11 to be fair and there is absolutely no mention of any link at any time since .I think Glenn and the troops would have sussed that out pretty quickly. Maybe kamy would know -I do recall kamy being vocal about Seneca and I trust him to know the score.

I'm with stuart-He used tantric to get the meeting

[AllRoverAsia]

Just now, blueboy3333 said:

It's going to be a long summer.

And Winters Coming

[Dunnfc]

9 minutes ago, TBTF said:

Hey DunnFC

You seriously think they should conduct this in the media. Didn't they get battered for that last year ? There's not a chance that will happen IMO.

I think also there is no way these people will be taking on the debt. In previous times I have heard him he has always said that's gone and the Club is worthless which it is. He also talked about turning round a distressed business and that it might need capital in the short term in order to develop the medium and long term plan. He went on about 90 day, 3 month, 12 month and 3 year and 5 year plans .He seemed to have a very good grasp of the financial side.

I think these guys are no mugs and know exactly how to tackle it. He did say that it was guesswork until they do Due Diligence and got into the guts of the real finances.

I was actually impressed and thought thank god there is somebody out there that can help.

I listened to it live in the car and listened to it again at home and there is a lot to take in . I think its one of those that does become clearer after a second hearing .

I really like the bit about anybody coming in must understand the culture and DNA of the Club and we must avoid going from frying pan to fire whoever comes in.

I think you are being over critical mate .But that's only my opinion so no doubt I will get battered and abused any minute!!!!

I

Hey mate no it's good and as you say your opinion pal, it's what engages good debate!

Not for one minute do i think Ian is a mug but would you trust an investment company and hedge fund specialist? Sooner or later the investors will want to see a return, what happens when they don't get it? Withdrawal of credit/capital? Forced to sell the assets to buy them out? All questions which really should be asked to Ian in all fairness as they are competently genuine and honest questions and we as fans probably need to know these answers given what we've gone through. Who are these investors, ok i appreciate no names to exchange but what are is there angle on buying a debt ridden football club?

He came across very well on Venkys, situation at the club and a bit of a strategist in regards to what should be in place and you are spot on about the DNA, i've said it previously but the staff like Cheston and co do not have Blackburn in there hearts or the clubs best intrests first, just there own. Interesting he sort of laughed when Cheston couldn't make it.

Quote

I think also there is no way these people will be taking on the debt.

If that's the case then the turn around aint that big is it. In fact the club probably becomes more attractive to other parties. I could have sworn though he alluded to basically taking the club on with it. 

Quote

In previous times I have heard him he has always said that's gone and the Club is worthless which it is.

Well it is, it's in the accounts. 124 million in £1.00 each shares worthless, past capital provided to the club and spent. 87.5 million owed to them as a loan which they have no chance of ever getting back. 

Quote

He also talked about turning round a distressed business and that it might need capital in the short term in order to develop the medium and long term plan. He went on about 90 day, 3 month, 12 month and 3 year and 5 year plans .He seemed to have a very good grasp of the financial side.

Well yes it's obvious you will need to assist it with capital but how will it be managed, approx figures? Take Bolton for example Ken Anderson has put in 5 x 700 k at intervals this year to ease cashflow at certain month ends, however he takes it back out at the earliest opportunity. So is it short term capital to ease cash flow or is it investment? What's his long term plan? Back to the championship and sell for more than he bought it for and invested in to return profits to the investors or do they keep hold and go to the premier league and tv jugular for a return to the investors?

He mentioned those interval days/months/years as plans but in name only no detail or substance or anything. Christ we've just suffered a "Temporary Setback (Too early to joke?).

I'm not suggesting he''d get battered in the media, not sure if he did previously? BUT how do you make others aware, attract more support, and probably get the message out there? Instead of speaking to venkys go to squire sanders llp and ask for David Julian Hull who is the man looking after the legals of VLL initially and holds office in the devonshire square registered company address in london. They used him to purchase the club in the first place and still might trust him to sell it. Has he tried them? Probably not, like he said the phone won't ring from Venky's so get out there and chase it surely.

 

[RoversClitheroe]

Just now, Dunnfc said:

Hey mate no it's good and as you say your opinion pal, it's what engages good debate!

Not for one minute do i think Ian is a mug but would you trust an investment company and hedge fund specialist? Sooner or later the investors will want to see a return, what happens when they don't get it? Withdrawal of credit/capital? Forced to sell the assets to buy them out? All questions which really should be asked to Ian in all fairness as they are competently genuine and honest questions and we as fans probably need to know these answers given what we've gone through. Who are these investors, ok i appreciate no names to exchange but what are is there angle on buying a debt ridden football club?

He came across very well on Venkys, situation at the club and a bit of a strategist in regards to what should be in place and you are spot on about the DNA, i've said it previously but the staff like Cheston and co do not have Blackburn in there hearts or the clubs best intrests first, just there own. Interesting he sort of laughed when Cheston couldn't make it.

If that's the case then the turn around aint that big is it. In fact the club probably becomes more attractive to other parties. I could have sworn though he alluded to basically taking the club on with it. 

Well it is, it's in the accounts. 124 million in £1.00 each shares worthless, past capital provided to the club and spent. 87.5 million owed to them as a loan which they have no chance of ever getting back. 

Well yes it's obvious you will need to assist it with capital but how will it be managed, approx figures? Take Bolton for example Ken Anderson has put in 5 x 700 k at intervals this year to ease cashflow at certain month ends, however he takes it back out at the earliest opportunity. So is it short term capital to ease cash flow or is it investment? What's his long term plan? Back to the championship and sell for more than he bought it for and invested in to return profits to the investors or do they keep hold and go to the premier league and tv jugular for a return to the investors?

He mentioned those interval days/months/years as plans but in name only no detail or substance or anything. Christ we've just suffered a "Temporary Setback (Too early to joke?).

I'm not suggesting he''d get battered in the media, not sure if he did previously? BUT how do you make others aware, attract more support, and probably get the message out there? Instead of speaking to venkys go to squire sanders llp and ask for David Julian Hull who is the man looking after the legals of VLL initially and holds office in the devonshire square registered company address in london. They used him to purchase the club in the first place and still might trust him to sell it. Has he tried them? Probably not.

 

He wouldn't have a proper plan in place yet as he doesn't know the complete situation given that it is a private company. 

It seems as though he is playing the waiting game. Venkys eventually have to sell I'm sure of it! 

Every football club at the end of the day is a business with a huge heart. 

I'm sure the aim is to take it to the premier league and benefit from the £5bn TV rights that are now given. 

[TBTF]

Just now, Dunnfc said:

Hey mate no it's good and as you say your opinion pal, it's what engages good debate!

Not for one minute do i think Ian is a mug but would you trust an investment company and hedge fund specialist? Sooner or later the investors will want to see a return, what happens when they don't get it? Withdrawal of credit/capital? Forced to sell the assets to buy them out? All questions which really should be asked to Ian in all fairness as they are competently genuine and honest questions and we as fans probably need to know these answers given what we've gone through. Who are these investors, ok i appreciate no names to exchange but what are is there angle on buying a debt ridden football club?

He came across very well on Venkys, situation at the club and a bit of a strategist in regards to what should be in place and you are spot on about the DNA, i've said it previously but the staff like Cheston and co do not have Blackburn in there hearts or the clubs best intrests first, just there own. Interesting he sort of laughed when Cheston couldn't make it.

If that's the case then the turn around aint that big is it. In fact the club probably becomes more attractive to other parties. I could have sworn though he alluded to basically taking the club on with it. 

Well it is, it's in the accounts. 124 million in £1.00 each shares worthless, past capital provided to the club and spent. 87.5 million owed to them as a loan which they have no chance of ever getting back. 

Well yes it's obvious you will need to assist it with capital but how will it be managed, approx figures? Take Bolton for example Ken Anderson has put in 5 x 700 k at intervals this year to ease cashflow at certain month ends, however he takes it back out at the earliest opportunity. So is it short term capital to ease cash flow or is it investment? What's his long term plan? Back to the championship and sell for more than he bought it for and invested in to return profits to the investors or do they keep hold and go to the premier league and tv jugular for a return to the investors?

He mentioned those interval days/months/years as plans but in name only no detail or substance or anything. Christ we've just suffered a "Temporary Setback (Too early to joke?).

I'm not suggesting he''d get battered in the media, not sure if he did previously? BUT how do you make others aware, attract more support, and probably get the message out there? Instead of speaking to venkys go to squire sanders llp and ask for David Julian Hull who is the man looking after the legals of VLL initially and holds office in the devonshire square registered company address in london. They used him to purchase the club in the first place and still might trust him to sell it. Has he tried them? Probably not.

 

I don't dispute what you are saying Dunn. I think it is way too early days for detail like that to come out. If this lot deal in the ways you have suggested they will know the ropes.

But I don't think its there yet by any stretch. He plainly said that there is nothing in the offing and that nothing could happen without venkys wanting it to happen.

This looks to me like venkys will have to atke the debt and losses and swallow them with new owners effectively staring from scratch and being responsible form the day they take over. It couldn't survive with the pathetic income  he says we will be getting now .

I have faith that they know what theyre doing -lets just hope Venkys come to the party and give them a chance to do something

[RoversClitheroe]

I don't know why I feel strangely optimistic.

[Brownpants18]

There is no possibility of anyone putting a financial plan or buyout together without seeing the books. The ball in firmly in Venkies court. This is the biggest worry which Nixon eluded to.

[AllRoverAsia]

I eagerly await Cheston's appearance on Radio Lancs but will continue diarising other appointments as I do not expect to have to make any rearrangements.

I expect Cheston will travel to RL using the same taxi with the pink bow tied round it that drives Steele to Wolves.

[Dunnfc]

Just now, TBTF said:

I don't dispute what you are saying Dunn. I think it is way too early days for detail like that to come out. If this lot deal in the ways you have suggested they will know the ropes.

But I don't think its there yet by any stretch. He plainly said that there is nothing in the offing and that nothing could happen without venkys wanting it to happen.

This looks to me like venkys will have to atke the debt and losses and swallow them with new owners effectively staring from scratch and being responsible form the day they take over. It couldn't survive with the pathetic income  he says we will be getting now .

I have faith that they know what theyre doing -lets just hope Venkys come to the party and give them a chance to do something

True but you can form an initial basis based on assumption. I've done research into existing League One Club accounts and obviously this years championship clubs to garner my own workings. Just going back to the figures of 8 and 10 million respectively, Alan nixon concerned that this capital would be required but this appears currently the median range of losses of championship clubs this year, Brighton for example was 19.8 million i think alone. Very Very rare people make a club sustainable/breaking even. 

Allot of people behind Seneca already without knowing no detail about them or what they are proposing or who is involved and I'll be honest i'm quite worried about that.

[A cup of beans]

57 minutes ago, arbitro said:

Whilst it was comforting to hear what Ian was saying it really means nothing whilst the Indians won't even engage anybody in sensible dialogue. There is no doubt in my mind that Seneca and partners would be a huge step forward but without the Indians at the table to talk we have no hope of this nightmare ending. Nixon infuriated me as he was talking over Ian on several occasions and offered nothing to the debate.

Respectfully,  I must disagree with your points about Alan Nixon.

Found very few points to pull him up on.

He spelt things out and added knowledge and perspective. Judging him on tonight's show, I can't see much reason to criticise him for his contribution. 

[Hasta]

Just now, RoversClitheroe said:

I don't know why I feel strangely optimistic.

Don't. We're at the same position as we were last summer and the summer before.

Potential interest but the Rao's ain't interested in even acknowledging, let alone talking.