Venky’s, HMRC…The Plot Thickens ?

[simongarnerisgod]

this is getting me excited,for the first time in 13 years i can finally see a future without the jackboot of indian incompetence

[Rogerb]

The latest set of accounts as at march 2023 section 26 suggest venkys had not actually completed on the training ground deal as at that date. They also had not paid their sponsorship money. The accounts suggest they had paid interest on the outstanding purchase monies to the club and the club had paid rent. Section 26 states The valuation of 17.3 million was based on planning permission being obtained which at the date of the accounts had not been achieved. Maybe this was a factor in the delay. The accounts indicate a payment of over 6 million was due by the end of June 2023. The change in the project could suggest this did not arrive. The accounts for march 2024 will ultimately clarify this.

So far the assets seized amount to £9 million or so which whilst an inconvenience one would not of thought to be terminal. The problem moving forward is how the Indian government view further infusions of funds.

 

 

[broadsword]

16 hours ago, AllRoverAsia said:

This has got a tip of the iceberg feel about it.

Please release us, lettuce gooooooo

[Guest]

Just now, broadsword said:

Please release us, lettuce gooooooo

If they do, can we expect to salad down the table, without a dressing room to call our own?

[broadsword]

Well hopefully they've had their chips, that's what really counts. They were utterly radish, so many times because of them, my heart, it choked. It was a caper they never should've embarked upon. They hired so many chancers and morons, there wasn't mushroom for talent

Edited October 12, 2023 by broadsword

[BlackburnEnd75]

1 hour ago, Rogerb said:

The latest set of accounts as at march 2023 section 26 suggest venkys had not actually completed on the training ground deal as at that date. They also had not paid their sponsorship money. The accounts suggest they had paid interest on the outstanding purchase monies to the club and the club had paid rent. Section 26 states The valuation of 17.3 million was based on planning permission being obtained which at the date of the accounts had not been achieved. Maybe this was a factor in the delay. The accounts indicate a payment of over 6 million was due by the end of June 2023. The change in the project could suggest this did not arrive. The accounts for march 2024 will ultimately clarify this.

So far the assets seized amount to £9 million or so which whilst an inconvenience one would not of thought to be terminal. The problem moving forward is how the Indian government view further infusions of funds.

 

 

Training ground is being valued this week I believe. I've no idea the actual purpose of this.

[Mattyblue]

1 hour ago, den said:

If this has been posted, my apologies

https://www.lancashiretelegraph.co.uk/sport/23850894.blackburn-rovers-entangled-venkys-indian-government-row/

Nowt to worry about reading the comments, fantastic owners.

[tomphil]

3 hours ago, roverblue said:

I can’t see how we can cover the bills over the next few months without money from Venkys. I think I once read they send a sum of money every few months to cover this, say £5m every quarter.

if that’s the case how do we pay our way? We can’t sell anyone till January and doubt we have any cash in the bank.

Live off the overdraft till Jan when GB will then be told he needs to bring in another 5 mill in deals sharpish.

[tomphil]

34 minutes ago, BlackburnEnd75 said:

Training ground is being valued this week I believe. I've no idea the actual purpose of this.

That doesn't sound good it'll probably mean the true value is nothing like the original and there'll be no more money forthcoming on that deal.

Further more if the FFP and EPL have a close look at it and find an issue we really are up the creek, hello Wigan, hello Derby.

[phili]

6 minutes ago, tomphil said:

Live off the overdraft till Jan when GB will then be told he needs to bring in another 5 mill in deals sharpish.

I think he'll be tasked with raising £10m in January to cover this year's running costs till end of May. So we can expect A. Wharton to be sold to probably Newcastle in January.

Next summer will be interesting as we won't have anyone else to really sell. The recruitment team are really going to be up against it.

[tomphil]

9 minutes ago, phili said:

I think he'll be tasked with raising £10m in January to cover this year's running costs till end of May. So we can expect A. Wharton to be sold to probably Newcastle in January.

Next summer will be interesting as we won't have anyone else to really sell. The recruitment team are really going to be up against it.

The bank will be looking for some guarantee of covering the costs that's for sure but i think we'll muddle through this season ok.

The coming summer and next season could be horrific though unless there is some kind of resolution.  I worry for the academy site big time now if the taps are off, that would be the final death knell.

[Bethnal]

Has the “death by a thousand cuts” feel to it, although how I’m reading everything doesn’t point to a Rovers funeral, I don’t think. I think if you’re being investigated like this and there’s a story dripping out every week, there’s a lot more blood to be let.

Although we should all be careful about what we say definitely and what we speculate on, I would suggest that lazily using the incorrect vehicle for cross-border investment in your rent-a-mate, low-grade, faded pop star acquaintance’s doomed-from-the-off music startup is the kind of thing that a sophisticated investor tends not to do.

In the words of the inimitable Logan Roy, these “are not serious people.” Although probably more suitable for those in question would be his shorter, more brusque catchphrase.

[Crimpshrine]

6 hours ago, J*B said:

I'm going to need you all to be extremely careful about what you post on this subject. As a reminder by creating an account you have taken all liability for your posts and given me permission to share data we have about you with relevant authorities if asked. 

I hate Venky's and hope they get their comeuppance.

Happy for the relevant authorities to know that

[broadsword]

15 minutes ago, Bethnal said:

 

Although we should all be careful about what we say definitely and what we speculate on, I would suggest that lazily using the incorrect vehicle for cross-border investment in your rent-a-mate, low-grade, faded pop star acquaintance’s doomed-from-the-off music startup is the kind of thing that a sophisticated investor tends not to do.

That made me laugh

[47er]

Now, as we always suspected, we can see what our club is being used for and probably why it was bought in the first place.

LOL at the comments from Rovers fans on LT site! That lot would mortgage their house to buy Tower Bridge from you.

Venkys unfit to own a football club, especially our's. The only problem I have with all this is the fear of a "scorched earth" policy from them, meaning it will take longer for the renewal of the club to be achieved.

But achieved it will be and we will be the better for it.

[tomphil]

20 minutes ago, Bethnal said:

Has the “death by a thousand cuts” feel to it, although how I’m reading everything doesn’t point to a Rovers funeral, I don’t think. I think if you’re being investigated like this and there’s a story dripping out every week, there’s a lot more blood to be let.

Although we should all be careful about what we say definitely and what we speculate on, I would suggest that lazily using the incorrect vehicle for cross-border investment in your rent-a-mate, low-grade, faded pop star acquaintance’s doomed-from-the-off music startup is the kind of thing that a sophisticated investor tends not to do.

In the words of the inimitable Logan Roy, these “are not serious people.” Although probably more suitable for those in question would be his shorter, more brusque catchphrase.

If you're gonna help a mate out or buy an ego trip English country mansion it's best to use your own money is the moral of this story.

Wouldn't matter a jot if it didn't affect the club but it does.

[Guest]

ego trip country mansion, lol! They bought a footballer's tat-filled cast off, in an area blighted by empty-headed housewives of Cheshire with plastic everything and values straight out of the dustbins of vanity fair, at a price that would house tens of thousands of their fellow countryfolk living under plastic at road junctions in their homelands AND they did it with the company's petty cash, rather than putting their hands in their own deeply soiled pockets. Not only that, the very choice of base was a further indication of how poor their judgment of the majority stakeholders of Blackburn Rovers was from the start - a Neviller's pad? £7 million for somewhere to spend a couple of nights (max) over the next eight years? Talk about rubbing decent hard working folk up the wrong way, the stupid entitled disconnected arrogant knob heads.

But, like others have said, it wouldn't have mattered, if they'd just looked a little before they leapt.

 

[tomphil]

2 minutes ago, Shirley Crabtree Wrestler said:

ego trip country mansion, lol! They bought a footballer's tat-filled cast off, in an area blighted by empty-headed housewives of Cheshire with plastic everything and values straight out of the dustbins of vanity fair, at a price that would house tens of thousands of their fellow countryfolk living under plastic at road junctions in their homelands AND they did it with the company's petty cash, rather than putting their hands in their own deeply soiled pockets. Not only that, the very choice of base was a further indication of how poor their judgment of the majority stakeholders of Blackburn Rovers was from the start - a Neviller's pad? £7 million for somewhere to spend a couple of nights (max) over the next eight years? Talk about rubbing decent hard working folk up the wrong way, the stupid entitled disconnected arrogant knob heads.

But, like others have said, it wouldn't have mattered, if they'd just looked a little before they leapt.

 

Isn't it in the Bury area and about 60/90 acres ? 

A bit more earthy than the Cheshire set but then they probably didn't know about that place. Imo they bought it simply because it was a famous Manure player selling it that's why it was an ego trip not long after the ego trip of buying the club.

I did read somewhere that they kitted it out with gold taps etc then it stood empty for years.

Be interesting if someone could fill in some of the blanks on this gaff, did or does anyone actually reside there and do they still own it etc.

[Waggy76]

27 minutes ago, tomphil said:

Isn't it in the Bury area and about 60/90 acres ? 

A bit more earthy than the Cheshire set but then they probably didn't know about that place. Imo they bought it simply because it was a famous Manure player selling it that's why it was an ego trip not long after the ego trip of buying the club.

I did read somewhere that they kitted it out with gold taps etc then it stood empty for years.

Be interesting if someone could fill in some of the blanks on this gaff, did or does anyone actually reside there and do they still own it etc.

Crawshawbooth if it is the one , I think it is... In the 70s , it was owned by the Manchester Diocese...Not sure when it became a private house .

[Rogerb]

Alexander House Bradshaw Bolton is the property 

[tomphil]

37 minutes ago, Waggy76 said:

Crawshawbooth if it is the one , I think it is... In the 70s , it was owned by the Manchester Diocese...Not sure when it became a private house .

think that was Phil Nevilles pad on the left as you go up the hill but it was Garys they bought.

[K-Hod]

It was Gary’s old house, it’s definitely classed as Bolton.

[Guest]

I suppose the point is, the Indian Authorities are taking a dim view of an 'arms length entity' (i.e. a business) being used to prop up an overseas plaything by people who supposedly have deep enough pockets to play with the overseas toy out of their own back pockets. Quite right too - how many of the current crop of benevolent owners across the football league are running the show for a bit of craic because they love the game (see Wrexham as a prime example perhaps, and possibly the Brentford and Brighton owners?) versus those trying to make shareholder value from the enterprise (see Manure, Arsenal, etc)?

As a bit part player these days, and having had operating expenses shaved back to the shin bone, Rovers should really be being run in the benevolent and passionate owner with deep pockets category. Instead we are run as a sodding line on a sodding chicken factory P&L. No wonder it stinks!

VENKY VENKY VENKYS... OUT OUT OUT!!

 

[windymiller7]

I used to work for a consultancy firm owned by Gary Neville around 2008/9 (King Associates) and it was around the time that the house was being completed. I've actually been to the house a few times. Whether Venkys still own it or anyone else does/resides there, I've no idea.

What I do know is, it's at Top of Th Knotts in Bolton and definitely did not have gold taps! 😆

The building at the top of the photo also forms part of the estate. This is, what was, the housekeeper's cottage - Gary & Emma lived in this whilst the main house was being completed.

Edited October 13, 2023 by windymiller7
picture didn't insert

[Exiled_Rover]

13 hours ago, tomphil said:

That doesn't sound good it'll probably mean the true value is nothing like the original and there'll be no more money forthcoming on that deal.

Further more if the FFP and EPL have a close look at it and find an issue we really are up the creek, hello Wigan, hello Derby.

If we get our club back I'm ok with that.

It's a zombie club.