Venky’s, HMRC…The Plot Thickens ?

[broadsword]

So... Scunthorpe United... Is this going to be is one day? Owner turns off the taps, fans banned, club kicked out of ground, fa belatedly investigates

[Guest]

38 minutes ago, broadsword said:

So... Scunthorpe United... Is this going to be is one day? Owner turns off the taps, fans banned, club kicked out of ground, fa belatedly investigates

There but for the grace of God, and the small matter of £20 million a year being pumped in by the faceless ones, go we.

[tomphil]

58 minutes ago, Shirley Crabtree Wrestler said:

There but for the grace of God, and the small matter of £20 million a year being pumped in by the faceless ones, go we.

Well there isn't 20 mill now by the looks of it and once one or two players are sold we really will be in the grace of God territory. There'll be no assets left to cash so they'll have completed the circle from what they bought from the Trust just altered the dynamics.

Instead of starting every season with the aim of staying in the Prem it'll be the Championship annual dogfight instead.

Edited September 28, 2023 by tomphil

[Tugayisgod]

Kieron Maguire on Rovers finances

https://c.newsnow.co.uk/A/1198705954?-11198:839

[JHRover]

The Club lost the right to use FFP as an excuse for anything when it allowed Diaz, Rothwell and Lenihan to walk out the door for nothing.

[Wheelton Blue]

But, but, but....we would have been stupid to sell Diaz whilst we were challenging for the top 6........

[RoverCanada]

45 minutes ago, Tugayisgod said:

Kieron Maguire on Rovers finances

https://c.newsnow.co.uk/A/1198705954?-11198:839

Think this has already been flagged on Twitter (and confirmed on a previous page here), but he's misunderstood the "£20k net spend" this summer, as that will only refer to what has been committed between the end of VLL's accounts (31 March) and when they were signed off (29 July). So, maybe minor fees (agents? nominal fees?) associated with the Sigurosson or Bloxham deals or an Academy signing (Nathan Dlamini?!?)... Does suggest we probably got nothing of note for Edun, but that's unsurprising (perhaps have an add-on or two with that one).

Going back to 2020-21, for example, VLL's accounts don't mention the Armstrong sale given it took place on 10 August 2021.

Maguire's alright, but clearly was just asked to take a brief skim and give some thoughts... Perhaps got tripped up that these are the VLL accounts, Blackburn Rovers'.

Haven't had time to give a sorta detailed skim of the latest VLL accounts myself, but some interesting tidbits in there, if more of the same (back to what our losses are like without major sales/training ground FFP chicanery). Cup runs, general media income growth, and a bit of an attendance rebound got us to our highest turnover in years but wages went up (likely linked to bonuses related to a relatively successful season + a couple deep cup runs, but interesting that we probably didn't cut wages as much as some thought) as did other costs (I suppose inflation starting to bite in some aspects). So, wage/turnover dropped but underlying losses rose a bit.

Anyway, the actual Blackburn Rovers accounts are usually a better read on things, but the VLL accounts does give an early view...

[tomphil]

31 minutes ago, JHRover said:

The Club lost the right to use FFP as an excuse for anything when it allowed Diaz, Rothwell and Lenihan to walk out the door for nothing.

Yes it isn't always big nasty FFP singling out little old Rovers as sold to the majority by Waggot.

It's gross incompetence from the top as usual that FFP gets offered up as cover for. Granted it doesn't help but many clubs are in the same boat, PNE being one and Luton before them.

[tomphil]

They ask Maguire every year and he makes the same comments every year yet they portray it as a forensic view of the accounts.

It's nothing we don't already know and nothing more that stating the obvious after a 60 second glance at it there's nothing forensic about it.  People will find miles more accurate info on here.

I'd just love a real forensic accountant to go over it !!!

[Sweaty Gussets]

38 minutes ago, RoverCanada said:

Think this has already been flagged on Twitter (and confirmed on a previous page here), but he's misunderstood the "£20k net spend" this summer, as that will only refer to what has been committed between the end of VLL's accounts (31 March) and when they were signed off (29 July).

The LT has a different take on what Maguire was saying. Or maybe the LT is just correcting him. No idea if Maguire interpreted the accounts as below? 

 

Edited September 29, 2023 by Sweaty Gussets

[Mashed Potatoes]

11 minutes ago, Sweaty Gussets said:

The LT has a different take on what Maguire was saying. Or maybe the LT is just correcting him. No idea if Maguire interpreted the accounts as below? 

 

According to the UK accounting standard FRS 102 consideration to post balance sheet events should be made up to the date the accounts are signed on behalf of the board by a director of the company,which was late July ( FRS102.32.2). Maguire ought to have known that.

Edited September 29, 2023 by Mashed Potatoes

[Displaced Rover]

27 minutes ago, Sweaty Gussets said:

The LT has a different take on what Maguire was saying. Or maybe the LT is just correcting him. No idea if Maguire interpreted the accounts as below? 

 

The fact Maguire claims to be a chartered accountant is worrying. Takes five seconds to compare date audit report and accounts were signed to then work out non of the PBSE disclosures will include any August transfer activity, The £20k net spend is such a non-story.

[RoverCanada]

35 minutes ago, Sweaty Gussets said:

The LT has a different take on what Maguire was saying. Or maybe the LT is just correcting him. No idea if Maguire interpreted the accounts as below? 

Haha, they're all confused. The VLL accounts were published on 25 September, but they were signed off on 29 July.

The LT text simply highlights how that number makes no sense if it were to include all our summer business... No way were we net spenders this window 🙂

Generally sounds like we spent maybe £1m on Walhstedt and Telalovic (+ maybe a few loan fees), while Kaminski + Phillips brought in £4.5m + add-ons (and maybe some piddly loan fees 🙂)

(anyway, just being a bit of a pedant...)

Edited September 29, 2023 by RoverCanada

[roverblue]

https://www.bbc.co.uk/sport/football/66958019

I cant blame the guy for doing this, we are all quick to spend other peoples money and moan about then not putting in millions more to sign players etc.

I cant see a similar situation from Venkys though, purely because they simply dont communicate to fans/media so we wouldnt know either way!

[lraC]

11 minutes ago, roverblue said:

https://www.bbc.co.uk/sport/football/66958019

I cant blame the guy for doing this, we are all quick to spend other peoples money and moan about then not putting in millions more to sign players etc.

I cant see a similar situation from Venkys though, purely because they simply dont communicate to fans/media so we wouldnt know either way!

I read a very similar story from Ken Anderson, when he owned Bolton and that all came tumbling down in the end.

I do not trust owners like this and I think Anderson did end up making a tidy sum in the end, for his involvement with them.

[1864roverite]

31 minutes ago, roverblue said:

https://www.bbc.co.uk/sport/football/66958019

I cant blame the guy for doing this, we are all quick to spend other peoples money and moan about then not putting in millions more to sign players etc.

I cant see a similar situation from Venkys though, purely because they simply dont communicate to fans/media so we wouldnt know either way!

Interesting read but he ag least comes out and says it as it is whereas our lot simply HIDE

[philipl]

https://www.bbc.com/sport/football/66958019

And Sheffield Wednesday have a face out of joint owner cutting off funding but apparently not selling

 

[DE.]

I assumed by cutting off funding he meant anything additional to basic running costs. Would be cutting off his nose to spite his face otherwise - arguably he still is, but even more so. 

[SBlue]

1 hour ago, roverblue said:

https://www.bbc.co.uk/sport/football/66958019

I cant blame the guy for doing this, we are all quick to spend other peoples money and moan about then not putting in millions more to sign players etc.

I cant see a similar situation from Venkys though, purely because they simply dont communicate to fans/media so we wouldnt know either way!

I personally think it's a disgrace. 

"Protest and I'll let your club die" is the threat.

Appalling.

[JHRover]

1 hour ago, DE. said:

I assumed by cutting off funding he meant anything additional to basic running costs. Would be cutting off his nose to spite his face otherwise - arguably he still is, but even more so. 

So basically what Venkys have been doing here just with a big public statement / more childish approach

[DE.]

32 minutes ago, JHRover said:

So basically what Venkys have been doing here just with a big public statement / more childish approach

Well, we technically got the excuse of "muh government taxes" from the club but serious question marks over that. At least Chansiri is being upfront, regardless of how rational his reasoning is. 

[Eddie]

1 hour ago, SBlue said:

I personally think it's a disgrace. 

"Protest and I'll let your club die" is the threat.

Appalling.

Disagree. 

There's an entitled mentality creeping (or even sprinting) into football fan mentality when it comes to what they can demand from owners.

At the absolute worst end of the scale you see things like Ajax last weekend and just the general behaviour of Manchester United fans over the last decade - but it is permeating most clubs.

Many of our complaints about Venkys are fully justified, but even here we see fans expressing some expectation that an owner should be writing blank cheques to fund their own footballing wet dream.

[SBlue]

34 minutes ago, Eddie said:

Disagree. 

There's an entitled mentality creeping (or even sprinting) into football fan mentality when it comes to what they can demand from owners.

At the absolute worst end of the scale you see things like Ajax last weekend and just the general behaviour of Manchester United fans over the last decade - but it is permeating most clubs.

Many of our complaints about Venkys are fully justified, but even here we see fans expressing some expectation that an owner should be writing blank cheques to fund their own footballing wet dream.

The "It's their money they can do what they want" attitude doesn't sit well with me.

Owners are just custodians of a greater social/community asset and it is negligence and bad decision making that puts them in precarious positions in the first place.

I don't think we should give owners any pats on the back for keeping cashflow going when, in the case of Chansiri, he's flogged their stadium, put them in transfer embargos, had points deductions, and generally ruled the roost on the cheap to the extent that no decent football manager would want to work for him and the signings he makes. All while charging them £50 a ticket and pricing many fans out. Complain, and he threatens to stop keeping the lights on.

I think if you asked many Wednesday fans, they'd take admin/Lg2/whatever to get rid of the narcissistic embarrassment of an owner. There is huge potential there with that fanbase to aim towards some kind of relative sustainability.

How is that entitled?

If you don't want to have to cover some losses, don't buy (or create in our case) a Championship football club. Sort out the business model, respect the supporters, or hand the keys over to someone that will. At the very least expect some criticism when you fuck it up.

 

Edited September 29, 2023 by SBlue

[simongarnerisgod]

i reckon venkys problems in india are more serious than they appear and they`ll be offloading the club soon🙂

wherever we end up i will be thankful if we  finally see the last of them,the last 13 years have been an unmitigated disaster,for me,we can end up in the north west counties league one as long as we rid of the indians,can you imagine how epic coppull utd vs rovers would be,hoardes of rovers fans rampaging through the backward streets of coppull😂

[MarkBRFC]

18 minutes ago, simongarnerisgod said:

i reckon venkys problems in india are more serious than they appear and they`ll be offloading the club soon🙂

Not a chance.