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Venkys - Welcome or unwelcome?  

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  1. 1. If Venkys apologised and stated that they would attend the next home game, how would you feel?

    • Hostile towards them
    • Willing to forgive and draw a line
    • Wouldnt care at all


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4 hours ago, Crimpshrine said:

It may not hurt them as such but how does it benefit them in any way at all? Even mega rich people don't like wasting large amounts of money on things they have no interest in. 

There must come a point when they say enough is enough

You’d think so wouldn’t you.

I keep recalling that, and apologies for not remembering the exact figures, that Desai looks after / runs 42 companies within the group. They put a manager in situ and he / she reports to Desai. How on Earth that works I’ve no idea, but looking at their share price it must do. Breaking that down further, and assuming each organisation gets equal focus, she’ll spend a day on BRFC once every month and 10 days or so. Then again she might just quickly look at the league table or log on to BRFCS for ten minutes before locking herself in a dark room listening to The Smiths for a few hours. That’ll be enough.

If the Group is doing well then maybe it’s not an issue.

Getting those two “accountancy” firms in last summer surely shows the (blindingly obvious to you and I) way to recouping their loses, promotion back to the Premier League. If they sell now then they’ll lose millions, all of it. Philipl mentions £250m with £100m secured against the State Bank of India, I’m totally with him here, that money will surely be secured against Venkys assets. BRFC itself has minimal. Can’t build on Brockhall, no value in selling Ewood. Selling all the players, plus Dacks Beard, will get you what? For arguments sake let’s say £30m. In the scheme of things, next to nowt.

Bought as a marketing tool? Possibly. A way of making money? They’ve taken the word gullible out of the dictionary you know? It was a complete no brainer buying the club at the time though. If we’d had the money (BRFCS) we should have. Then sell Phil Jones, a couple of others, money back. We wouldn’t have had to work with that Agent either.

Enough is enough? Who knows what they’ll do, they’re perfectly capable of shutting the place down by the time I’ve finished typing. But if they want to save face, get their (some / most) money back and leave with some semblance of brand credibility, then we need to return to the Premier League. Either for them to then sell as we’ll look a good investment, or stay up there for a few years on minimum outlay.

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Incredible how much time has been and gone under their ownership.  At my age I was too young to really enjoy the golden era of the early to mid 90s and wasnt old enough to be able to go to the Eu

I wonder which dropped first?

They can rot in hell for me. We need bailing out to the tune of £20m per season, due to theirs and their stakeholders, total disregard for the club and Jack's legacy, when they bought it. All this non

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We could even become a yo-yo club for a few seasons like Burnley. ie get promoted, spend the minimum and collect the parachute money and get promoted again.

So long as we got stronger every year till our Premier League place was more assured, I could cope.

However Bob, the issue is the Raos. Are they steady enough to have a plan and stick with it for a number of years?

Nothing we've seen so far gives me any confidence about that.

The best plan for me would be for them to get us back in the Premier League and sell. Good riddance.

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I don't think they'll sell even if we return to the Prem because their 200 million on paper or whatever investment will then be bearing fruit and being used for what it was partly bought for. Money might even then get piped back from the club in the Firms direction to fund something else i'e the old Venkys Xpress setting up in England or Europe. This lot are after world domination of the chicken product market don't forget.

I'm also sure the SBOI would certainly welcome a few years of Prem football reducing their 'stake' ? 

Edited by tomphil
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1 hour ago, 47er said:

 

However Bob, the issue is the Raos. Are they steady enough to have a plan and stick with it for a number of years?

Nothing we've seen so far gives me any confidence about that.

The best plan for me would be for them to get us back in the Premier League and sell. Good riddance.

I agree. Absolutely zero confidence in them. When we lose a few next season no doubt the knives will be out and the whispering will begin - roll the dice on a new manager and absolutely anything could happen. I’d have more confidence in a pub full of drunk dingles on lsd picking the right man for Rovers than the Raos. We just have to hope that there is patience (there’s bound to be on here ? ), that it looks promising and that he’s allowed time to build.

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Spot on.

Who's going to run the clubs here in England and what credentials do they have and also who is going to liase and what is their back ground should all be part of the vetting process with more importantly guarantees put in place to make sure these things are remained on after takeover.

Not good enough just say agent/agency XYZ will work for us advising on those things.

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40 minutes ago, OnePhilT said:

Steve Waggott: "The big thing when you have got Owners who are so far away from the club is this element of trust."

Should distance be brought into the "fit and proper" ownership test? Should structural guarantees be put in place during takeover auditing? It seems that it revolves sorely around money, which hasn't really been our problem.

Trust is trust. Waggott probably hasn't been lied to by Venkys...at least until the recent visit where odds of that have probably increased. I guess he will find out in the next couple of months.

To me it makes no difference whether it's liars in India or liars in Jersey. Liars are liars and distance isn't a factor. All it does is prevent an owner from being more "hands on" and "micro managing" in which case they need to choose the right people and preferably insist on that style of management. Waggott must know also that the trust has to be there on both sides given how Venkys have been misled by others in the past. So far he's done nothing to warrant such suspicion (and nor am I saying he will) but they have put their trust in him clearly. Of course Waggott has to be able to trust people inside the club itself and watch out for snakes like Agnew lurking. Pasha's probably only around to be their "eyes and ears". If he wasn't a fool perhaps it wouldn't be such a bad thing.

 

Edited by Vinjay17
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Venky's (India) shares currently have a 5% circuit limit. That means trading is suspended  when a change in share price reaches this limit on any given day.

Today the share price dropped 5% in first 6 minutes of trading then suspended. Share price down 30% in 30 days. Expect a 5% drop each day for some time to come.

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I think it's been predicted for a while it would drop after having a boom time, just the nature of that type of business I think but maybe bad timing for us which would be typical. Hopefully other areas of the group are thriving and need profits hiding or the BOI is feeling very generous after a few years austerity.

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30 minutes ago, blueboy3333 said:

Why, what is behind the drop?

I honestly don't know what is happening. I have a friend in India who keeps me updated on these things. He works in financial markets and can't explain it either.

Seems to be a rush to sell. Forecasts for the long term are mixed. Some analysts advise sell others say hold. Not many advising buy at the moment which suggests further falls.

20 minutes ago, EgyptianPete said:

Well unless i read that wrong, finances look very good. 

I think that report is from about 3 months ago when share price was maxed out. 

Edited by Crimpshrine
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56 minutes ago, JacknOry said:

Wasnt there a beef ban or something in India which was a big part of their chicken sales going through the roof?

Yes that's right. Cattle slaughter and the sale of beef were banned in many states in India. So Venky's made massive profits from extra poultry sales. Share prices rose accordingly. 

There could be indications of a change in legislation which will put beef back on the menu so speculators are selling Venky's shares while they are still relatively high. 

The worst that is likely to happen that the shares return to pre beef-ban levels ( when Venky's decided they needed to sell Cairney, Gestede etc !) 

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16 hours ago, Crimpshrine said:

Yes that's right. Cattle slaughter and the sale of beef were banned in many states in India. So Venky's made massive profits from extra poultry sales. Share prices rose accordingly. 

There could be indications of a change in legislation which will put beef back on the menu so speculators are selling Venky's shares while they are still relatively high. 

The worst that is likely to happen that the shares return to pre beef-ban levels ( when Venky's decided they needed to sell Cairney, Gestede etc !) 

Sell Sell Sell!!!

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2 hours ago, Crimpshrine said:

Another 5% wiped off today as soon as the market opened. Then suspended. 

Don't think they will be answering Tony's phone calls at the moment

They bloody should do it's still over 100% up on a year or two ago besides that's just Venkys India another part of VH group. More it's worth the more the bank will lend we hope although Rovers budget seems to be already set so can't see how they can go back on it......then again ?

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https://www.blackpoolgazette.co.uk/sport/football/blackpool-fc/far-east-company-bids-25m-for-blackpool-fc-1-9196506

 

Take it with a pinch of salt with the Oyston’s, but £25 million for a third division club with no training ground (well a field and a couple of portakabins) and a three sided ground.

Once again, nice one Walkers...

Edited by Mattyblue
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  • 1 month later...

Another injection of cash into Venkys London Limited as share capital according to Companies House. As with previous injections this will no doubt have been passed straight through to the football club as an interest free loan.

This injection is £4.750m following injections of £3.625m in March  and £4.700m in January.

Total cash cost to the Raos since September 2017 is £13.075m.

Total cash cost since day 1 is £152 million!

Edited by PLJPB
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Just now, PLJPB said:

Another injection of cash into Venkys London Limited as share capital according to Companies House. As with previous injections this will no doubt have been passed straight through to the football club as an interest free loan.

This injection is £4.750m following injections of £3.625m in March  and £4.700m in January.

Total cash cost to the Raos since September 2017 is £13.075m.

It makes you wonder, how long this can continue for? Will something eventually have to give?

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3 minutes ago, PLJPB said:

Another injection of cash into Venkys London Limited as share capital according to Companies House. As with previous injections this will no doubt have been passed straight through to the football club as an interest free loan.

This injection is £4.750m following injections of £3.625m in March  and £4.700m in January.

Total cash cost to the Raos since September 2017 is £13.075m.

Total cash cost since day 1 is £152 million!

And on and on and on it will continue unless we get to the Premier League or find another £30 million in sales every few years.

I could understand it if they were getting something out of it. Most clubs lose similar amounts at this level but their owners have a goal in mind or at least enjoy the game and the adulation.

 

 

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43 minutes ago, PLJPB said:

Another injection of cash into Venkys London Limited as share capital according to Companies House. As with previous injections this will no doubt have been passed straight through to the football club as an interest free loan.

This injection is £4.750m following injections of £3.625m in March  and £4.700m in January.

Total cash cost to the Raos since September 2017 is £13.075m.

Total cash cost since day 1 is £152 million!

Would that be our transfer budget? 

The absolute lunatics

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