Venky’s, HMRC…The Plot Thickens ?

[Blow-in]

40 minutes ago, wilsdenrover said:

Phew, that leaves one day spare to spend it all on transfers 😁

It's Blackburn Rovers, what could possibly go wrong with a tight deadline to get transfers done 🙂 

[alcd]

9 hours ago, Mike Graham said:

I will try and find out.  However the court application will be for another 3 months of funds for the day-to-day running of the Club (wages, hmrc, vat) not to fund any transfers.

This is worse than being in administration because at least then Venkys would have lost control. It's completely destructive to run any business in this way. But it could likely carry on for ages because we all know how slow both governments and tax authorities move to resolve anything. 

[Upside Down]

2 hours ago, alcd said:

This is worse than being in administration because at least then Venkys would have lost control. It's completely destructive to run any business in this way. But it could likely carry on for ages because we all know how slow both governments and tax authorities move to resolve anything. 

I'm just hoping that it does end in administration. 

Or a sale.

[Devon Rover]

8 hours ago, Upside Down said:

I'm just hoping that it does end in administration. 

Or a sale.

I agree. I've understood the concerns of some about the 'going into admin' scenario over recent years, but I don't think there can be much doubt from anyone about the route and direction we are currently following under these owners, anyway. The club is slowly (but increasingly) dying, right now. Or, perhaps, being killed. The value of the club, in several senses, not just financial, including to many long-standing supporters, is plummeting and relegation, if not this season then next, looks inevitable.

I find most Rovers match days unbearable now. There is no pleasure in them, nor in seeing how our club has been torn apart and left a shell of what it had been. So, I'll take the administration, the relegation if necessary, now if it means rid of Venky's and a chance to start a rebuild - because ultimately, that seems unavoidable, so let's crack on if we can. Until they fuck off, we cannot even begin again and we will lose more supporters, sponsors, respect in the game etc etc. Perhaps, in the end, even the club itself. 

[broadsword]

4 minutes ago, Devon Rover said:

I agree. I've understood the concerns of some about the 'going into admin' scenario over recent years, but I don't think there can be much doubt from anyone about the route and direction we are currently following under these owners, anyway. The club is slowly (but increasingly) dying, right now. Or, perhaps, being killed. The value of the club, in several senses, not just financial, including to many long-standing supporters, is plummeting and relegation, if not this season then next, looks inevitable.

I find most Rovers match days unbearable now. There is no pleasure in them, nor in seeing how our club has been torn apart and left a shell of what it had been. So, I'll take the administration, the relegation if necessary, now if it means rid of Venky's and a chance to start a rebuild - because ultimately, that seems unavoidable, so let's crack on if we can. Until they fuck off, we cannot even begin again and we will lose more supporters, sponsors, respect in the game etc etc. Perhaps, in the end, even the club itself. 

Yes that's how I feel.

 

The question is, when will they clear off? I feel like that little Dutch boy in a bridge too far, who keeps asking his dad when the allies are coming.

 

"Soon".

[lraC]

I am hoping that the funding will not be approved by the Indian courts this time. From what I was told, we have enough to keep us going until February, so unless we sell a couple of players (Szmodics and Adam Wharton) in January, for decent money, then this would mean we can't pay the bills and administration is likely to follow.

It is hard to believe that I and many others are wishing administration on our own club, but this is getting desperate.

[broadsword]

Where can I apply to be an Indian judge?

[broadsword]

Could we not pen a letter to the Indian judiciary, let them know what a spunk spaffing gormless bunch of ham shanking doss bags Venkys really are?

[lraC]

Just now, broadsword said:

Could we not pen a letter to the Indian judiciary, let them know what a spunk spaffing gormless bunch of ham shanking doss bags Venkys really are?

I do wonder if someone could get the ear of the Indian Journo who penned the article about the illegal payments and maybe give him the fans version of events that are taking place at the club.

[lraC]

This is one of the articles in the Indian press about the illegal payments.

ED seizes immovable properties worth over Rs 24 cr of Venkateshwara Hatcheries under FEMA provisions (aninews.in)

A link to the website too.

Asia’s Premier News Agency - India News, Business & Political, National & International, Bollywood, Sports | ANI News

Edited January 2 by lraC
Adding link

[tomphil]

So we sell Szmods and Wharton in Jan to pay the bills then cut the budget and shift another in summer, then with running costs down even more they then shove some money in next autumn.

By then we are on a fast track to relegation after losing the 3 or 4 quality players we do have to be replaced by more GB sought cheapos.

And we are still owned and run by this lot so nothing is gained and everything is still lost, not good at all.

We really need to be selling no more players and they need to be putting more money in.

 

Edited January 2 by tomphil

[Crimpshrine]

22 hours ago, AllRoverAsia said:

Have they bothered to explain to the court that money for transfers is an essential part of how a football club operates and stays in business.

Over-ruled, the evidence of the past 13 years proves this statement to be incorrect. Please strike from the record.

[Crimpshrine]

On 01/01/2024 at 09:12, Mattyblue said:

I’ve come to terms with this lot outlasting us all, who knows maybe not my children (grandchildren?).

Obviously what state the club is in by then is anyone’s guess; houses on Brockhall, Riverside fallen into the River Darwen, ground sharing with Stanley, but lots of ‘progression’ from the minutes on the pitch for the Category 4 academy lads fresh off dodging the dog shit at Pleasy - Goodheart will be pleased.

Have you ever considered writing a dystopian novel ?

BRFC is a distant memory after withering away due to lack of attention - but Civil war still rages between Venkyites and Protesters 

[Mattyblue]

‘On the (Livesey Branch) Road’

Edited January 2 by Mattyblue

[Tugayisgod]

49 minutes ago, tomphil said:

So we sell Szmods and Wharton in Jan to pay the bills then cut the budget and shift another in summer, then with running costs down even more they then shove some money in next autumn.

By then we are on a fast track to relegation after losing the 3 or 4 quality players we do have to be replaced by more GB sought cheapos.

And we are still owned and run by this lot so nothing is gained and everything is still lost, not good at all.

We really need to be selling no more players and they need to be putting more money in.

 

I realize this is probably pie in the sky stuff but just putting it out there. Would people be happy with this ?

Do you think there could ever be a situation similar to what's happening with Jim Ratcliffe at Utd, whereby Venkys would be willing to accept a substantial cash injection from a third party for a minority share in the club ?

They would maintain overall control ,but the new investors would have the say on any transfers in or out, thus removing the need for every decision to have to go through India before approval.

I would imagine a figure of around £20 m spent wisely could see us challenging again for promotion to the Premier League, and the new investors would recoup their money back with the fortune to be gained.

Like I say, probably get shot down for this, but it's just an idea to get us out of the meandering situation we're in at the moment.

Plus, is that person or persons out there ?

[lraC]

2 minutes ago, Tugayisgod said:

I realize this is probably pie in the sky stuff but just putting it out there. Would people be happy with this ?

Do you think there could ever be a situation similar to what's happening with Jim Ratcliffe at Utd, whereby Venkys would be willing to accept a substantial cash injection from a third party for a minority share in the club ?

They would maintain overall control ,but the new investors would have the say on any transfers in or out, thus removing the need for every decision to have to go through India before approval.

I would imagine a figure of around £20 m spent wisely could see us challenging again for promotion to the Premier League, and the new investors would recoup their money back with the fortune to be gained.

Like I say, probably get shot down for this, but it's just an idea to get us out of the meandering situation we're in at the moment.

Plus, is that person or persons out there ?

I think there was a very similar proposition made many years ago by Ian Battersby and Ian Currie. From what I remember it was turned down flatly and is one of the reasons that I have come to the conclusion that thy are hiding something.

They will have pumped at least £150m in since then and they recent Indian press article about the illegal payments, certainly fuels my suspicions that something untoward is going on.

[Devon Rover]

3 minutes ago, Tugayisgod said:

I realize this is probably pie in the sky stuff but just putting it out there. Would people be happy with this ?

Do you think there could ever be a situation similar to what's happening with Jim Ratcliffe at Utd, whereby Venkys would be willing to accept a substantial cash injection from a third party for a minority share in the club ?

They would maintain overall control ,but the new investors would have the say on any transfers in or out, thus removing the need for every decision to have to go through India before approval.

I would imagine a figure of around £20 m spent wisely could see us challenging again for promotion to the Premier League, and the new investors would recoup their money back with the fortune to be gained.

Like I say, probably get shot down for this, but it's just an idea to get us out of the meandering situation we're in at the moment.

Plus, is that person or persons out there ?

I think the people would be out there for that, but I'm not sure it would ever be welcomed by Venkys, or be a sufficient solution. Firstly, because we need a much bigger overhaul in the club (income generation, marketing, community engagement, ticketing strategy, mentality etc etc) than just a chunk of cash that possibly wouldn't even compete with the spending power (or established talent) of ten of the clubs in the division. And we might not be able to spend their investment due to FFP and Venkys' accounts. Secondly, and linked to the last bit, Venkys are nothing but a cancer within our club. They will ruin anything positive that comes in 'alongside them' and will drag investors, and us, down with them as their financial situation deteriorates. The only possible answer is for them to go, and it will be painful itself. I just don't see it happening unless and until their ability to pay the bills is stopped.

[lraC]

https://www.lancashiretelegraph.co.uk/sport/9418476.blackburn-rovers-fan-ian-battersby-reveals-indian-experiences/

[tomphil]

31 minutes ago, Tugayisgod said:

I realize this is probably pie in the sky stuff but just putting it out there. Would people be happy with this ?

Do you think there could ever be a situation similar to what's happening with Jim Ratcliffe at Utd, whereby Venkys would be willing to accept a substantial cash injection from a third party for a minority share in the club ?

They would maintain overall control ,but the new investors would have the say on any transfers in or out, thus removing the need for every decision to have to go through India before approval.

I would imagine a figure of around £20 m spent wisely could see us challenging again for promotion to the Premier League, and the new investors would recoup their money back with the fortune to be gained.

Like I say, probably get shot down for this, but it's just an idea to get us out of the meandering situation we're in at the moment.

Plus, is that person or persons out there ?

I think they have had approaches but they never even landed on the desk at Pune HQ.

Times change of course and given their problems now it would make perfect sense but seeing as they wouldn't even take on well paying shirt sponsors etc when there was interest !

I'd say they'll happily let the club limp along slowly being strangled to death as long as it didn't drag there core business down with it.

The only real solution medium to long term is a complete fresh start free of these lot forever.

[phili]

10 minutes ago, tomphil said:

I think they have had approaches but they never even landed on the desk at Pune HQ.

Times change of course and given their problems now it would make perfect sense but seeing as they wouldn't even take on well paying shirt sponsors etc when there was interest !

I'd say they'll happily let the club limp along slowly being strangled to death as long as it didn't drag there core business down with it.

The only real solution medium to long term is a complete fresh start free of these lot forever.

No one at the moment will be looking at investing until the tax investigation has been carried out especially as they are now looking at every transaction made.

You just don't know what you are getting into.

[RoversClitheroe]

Didn't someone at some point say an IPL franchise owner was interested?

[BigUts]

Only a hunch but I just get the feeling something will happen out of the blue one day. We will all wake up one morning and we will have been sold or gone in to admin with no warning whatsoever. 

This whole crappy situation has now been a saga for more than a third of my lifetime and I'm genuinely fearful that it could be for the rest of it. Things do change though so we must all live in hope it'll one day come to pass.

Cov and the barcodes have gone through similar and come out the other side so here's hoping we still can too.

[Norbert Rassragr]

Right now, I expect some sort of Brighton or Bolton situation that leads us to relegation, and then a few shady owners before someone good at least makes the club respectable again. Sadly we can't expect anything normal to happen since we're owned by a family of spoilt, privileged, neglectful, aloof morons who have no right to be involved in a car boot sale, let alone a football club.

It seems only some sort of catastrophe that kills the entire Rao family will get rid of them.

[JHRover]

It seems to me that there are only 3 ways things change and we become free of Venkys:

1) That their business interests / personal fortunes take such a battering that they can no longer afford to keep us going.

2) Something dodgy / corrupt / criminal / humiliating comes out of the woodwork forcing legal action or sanctions and they are forced out this way

3) They suddenly decide to give it up as it isn't worth it - probably only going to happen when the gang of four either die or pass on their power to a new generation who might have more sense

 

Given what we have witnessed here in the last 13 years I suspect option 2 is the most likely, but still unlikely.

[lraC]

For those fans who see Venky's as the only reason Rovers till exists, we have had 137 years without them. Like plenty of other clubs, the end will not be nigh, if we go into administration, as it could lead to relegation or even two, but the tide will turn eventually, as it has done with lots of other clubs over the years.

Of those listed in the article below, some are plying their trade in the prem and Championship  with very few folding completely.

English Football Clubs That Went Into Administration [FULL LIST] (sqaf.club)

Edited January 2 by lraC