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Brockhall STC - planning permission application ?

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Mashed Potatoes Champions League

Mashed Potatoes

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7 minutes ago, islander200 said:

Can i ask and its a genuine question as im not that clued up on this.Isnt the majority of our debt owed to the owners?

How much debt do we have that isnt owed to them?

Recent examples of clubs going to admin, the majority of their debt was owed to figures outside the club, taxman,loans etc which resulted in their owners being unable/unwilling to pay the debt off and continue to pay the  the wages 

Accounts as at June 2020 showed £141m owed to the owners and a bank overdraft of £14m.  You are correct in what you say about the circumstances surrounding other clubs going in to administration which is why until today I didn't think there was any prospect of it happening to us. But if they did just get fed up funding us they could now do it and have something to show for their money.

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arbitro
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It's reassuring to know we still have fans who care and put some pressure on Waggott and Co in various ways. Even a post on this message board will have helped so nobody should underestimate their inv

J*B
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Joe, I mean this will all due respect, but Jack’s legacy isn’t Rovers winning the league. I would assume you’re too young to really remember what Jack did? Jacks legacy is putting Blackburn on th

RevidgeBlue
RevidgeBlue

With respect, you are talking absolute rubbish on this point and imo being extremely disrespectful to Jack Walker. I hope my post doesn't send you scurrying off to the moderators to complain as I woul

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lraC Champions League

lraC

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Just now, RevidgeBlue said:

Great Post. 

Nice to see some balance  being injected into the debate.

It seems to me on first glance the owners are getting panned for trying to find creative ways of injecting funds into the Club without breaching FFP. ***

*** Needs further clarification and investigation and I stand to be corrected should anything untoward come to light.

All it takes is a statement from someone at the club. A pre - emptive one, would have stopped the speculation, but perhaps, the owners, don’t consider the fans are worthy of that. After all, we didn’t buy enough season tickets did we?

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lraC Champions League

lraC

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2 minutes ago, Mashed Potatoes said:

Accounts as at June 2020 showed £141m owed to the owners and a bank overdraft of £14m.  You are correct in what you say about the circumstances surrounding other clubs going in to administration which is why until today I didn't think there was any prospect of it happening to us. But if they did just get fed up funding us they could now do it and have something to show for their money.

A training ground worth £17 million, after throwing £150 million at it, is hardly anything to write home about.

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den

den

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1 minute ago, J*B said:

If I bought Blackburn Rovers yesterday I got the training ground. If I buy them now I don’t. 

That’s how I see it.

edit… but only the STC? It must be linked to the attempt to sell the STC recently?

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lraC Champions League

lraC

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1 minute ago, J*B said:

If I bought Blackburn Rovers yesterday I got the training ground. If I buy them now I don’t. 

Any future administrator might have a bigger problem finding a buyer than they otherwise might have.

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JHRover World Cup

JHRover

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Before this transaction were someone to try and buy the club or Venkys try and market it for sale part of that package would be ownership of the training ground.

Now it would not.

That's a pretty substantial and valuable asset out of the club's portfolio.

of course it can be remedied quite easily by transferring it back to the club just before any sale if the intentions are honest and positive. But if not it could be bad bad news when assets end up owned elsewhere.

In the past I have encouraged moves such as these to circumvent FFP rules. I'm not sure i believe that is the motive here, not after what happened earlier this year.

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islander200 World Cup

islander200

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10 minutes ago, Mashed Potatoes said:

Accounts as at June 2020 showed £141m owed to the owners and a bank overdraft of £14m.  You are correct in what you say about the circumstances surrounding other clubs going in to administration which is why until today I didn't think there was any prospect of it happening to us. But if they did just get fed up funding us they could now do it and have something to show for their money.

Yeah a senior training ground valued at 16.6 million that cant be used for housing?

In all fairness the value of the STC is nothing when they are already carrying a debt of 141 million.

Of course it goes without saying that there should be suspicion but id have to disagree that administration is in their thoughts.Not one single inkling that they have been looking to sell the club, surely that would be considered and the club put on the market before administration is entertained.

 

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RevidgeBlue World Cup

RevidgeBlue

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13 minutes ago, JHRover said:

If its anything to do with FFP then why are they persisting with the claim we can't get Nyambe and Rothwell on new contracts?

Mowbray and Waggott aren't using that as an excuse are they?

Probably because it's their fault we ran into FFP difficulties in the first place.

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RevidgeBlue World Cup

RevidgeBlue

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4 minutes ago, Miller11 said:

It has been transferred from Blackburn Rovers Football and Athletic Limited to a different company. It’s exactly what has happened.

A7B21C75-3FBD-4A63-91D6-C2C32C11CD71.jpeg

Banging my head against a brick wall here....... who own 99.9% of "Blackburn Rovers Football and Athletic Ltd"

Exactly the same people who own the new Company!!!

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Miller11

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1 minute ago, RevidgeBlue said:

Banging my head against a brick wall here....... who own 99.9% of "Blackburn Rovers Football and Athletic Ltd"

Exactly the same people who own the new Company!!!

Don’t know about banging your head against a brick wall Rev, but you seem determined to pin absolutely everything wrong with the club on Mowbray and Waggott and absolve Venky’s of any blame at all. It’s very odd.

The training ground is no longer an asset of BRFC. There are some serious potential long term implications to this.

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DavidMailsTightPerm World Cup

DavidMailsTightPerm

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1 minute ago, MCMC1875 said:

I smell a sell off.

Why - they can do what they want anyway - they don't need to hive off to a separate business to do that. The reason they couldn't sell the STC in the first place were nothing to do with it being part of Blackburn Rovers.

I am not an accountant - but can't see why this makes it any better or any worse than it already was.

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RevidgeBlue World Cup

RevidgeBlue

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9 minutes ago, J*B said:

Is this some sort of trick that I’m not getting?

You're not getting it but it's not a trick question.

Venky's own the Club and it's assets in their entirety already. (Apart from a handful of shares owned by individuals).

The fact that technical ownership of the STC has switched to a different Company  owned by exactly the same people is neither here nor there UNLESS the assets of the new Company weren't included in any future sale of the Club.

There's absolutely nothing to suggest that would be the case but it is something which needs urgent clarification and assurances.

 

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