Venky’s, HMRC…The Plot Thickens ?

[RoversClitheroe]

Question for the trust, having listened to Talk sport chat about Reading, have the trust ever looked to disqualify the owners?

[Herbie6590]

2 minutes ago, RoversClitheroe said:

Question for the trust, having listened to Talk sport chat about Reading, have the trust ever looked to disqualify the owners?

I haven’t heard the discussion, but I’m curious as to on what grounds could such an action be taken, by whom, where, what would the desired outcome be ? (Re Reading) 

[Silas]

9 minutes ago, Herbie6590 said:

Oh yes…

Well it's nice to dream then. 

Imagine getting better ownership back in the club and knowing The Rao's had permanently lost 100's of millions of pounds. 

That would be a sweet tasting pint that night, even if we were in League 2. 

Not holding my breath though. 

[tomphil]

Davies had to write off about 150 million when he sold Bolton and it's simple really if you want to actually sell a struggling club you have to write off the 'on paper' amount it stands you at.

Otherwise you'll never ever shift it because it's only worth whatever its physical assets are worth and whatever turnover it might have.  So there is no point in even considering anything other than Venkys having to write off c200 million in order to shift Rovers if they wanted or were forced to sell it.

They can easily afford it anyway otherwise they'd have dropped the club years ago i don't buy for one min they spend 10/20 mill per year to 'save face'.  That's just away with the fairies stuff i'm afraid, they keep this club because they want to and for some reason it suits them, or some of them.

 

Edited January 16 by tomphil

[Bbrovers2288]

I remember years ago emailing red bull asking them to consider buying us, 

mainly because they were buying clubs and sinking lots of money in them , thought we would have been a good fit for their portfolio, ex league champs, their can has similarity to our top, our abbreviated name would be rBBr 

 

I was of course mainly joking however I received a totally serious email back from some management exec saying thanks for bringing us to their attention but they weren’t looking at an English investment at the time, however if they did they would consider us. Might be time to re-ask 😂

[wilsdenrover]

2 hours ago, glen9mullan said:

Just copied what we recorded below,  might be worth additional questions posing by FF or RT

 

As promised Mark and I met with the CEO and this is a brief run down of discussions.

 

1. Bridging loan - Taken out by Venkys against the training ground, using a long standing relationship with UK based businessman. The plan is this to be short term and they intend clearing it as soon as there is a relaxing of funds from India. They had to put up Parent company guarantees, but the liability of the loan remains with Venkys and won't appear as in the club accounts. The funds were made available to aid cash flow and ensure priority bills were paid.

 

Just on this point…

Whilst this loan won’t show in the club’s accounts I presume it will show in Venky London’s accounts.

Surely if that company ends up being unable to pay its debts it’s just as bad for the club as if the debt were secured against Rover’s assets.

Unless I’m missing something??

[StubbsUK]

3 hours ago, BigUts said:

Maybe there needs to be a summation of the facts and made in to an image and get it plastered everywhere. Hopefully then it'll focus people's minds

Here's a good round up of what we know: https://www.brfcs.com/magazine/articles/breaking-down-venky's-and-hmrc's-impact:-what's-next-for-rovers/483

[Waggy76]

52 minutes ago, tomphil said:

Davies had to write off about 150 million when he sold Bolton and it's simple really if you want to actually sell a struggling club you have to write off the 'on paper' amount it stands you at.

Otherwise you'll never ever shift it because it's only worth whatever its physical assets are worth and whatever turnover it might have.  So there is no point in even considering anything other than Venkys having to write off c200 million in order to shift Rovers if they wanted or were forced to sell it.

They can easily afford it anyway otherwise they'd have dropped the club years ago i don't buy for one min they spend 10/20 mill per year to 'save face'.  That's just away with the fairies stuff i'm afraid, they keep this club because they want to and for some reason it suits them, or some of them.

 

Exactly, diabolical owners don't hang around  for 13 years , there is a reason why they still want the club .It is certainly not for the love of Blackburn Rovers !

[wilsdenrover]

2 hours ago, glen9mullan said:

Just copied what we recorded below,  might be worth additional questions posing by FF or RT

 

As promised Mark and I met with the CEO and this is a brief run down of discussions.

 

 

11. Season tickets - Club recommended a much lower price to India, in particular on the early bird,  however this was not acceptable and they set a higher opening early bird offer. It was acknowledged that the early bird offer didn't help low income families with the short duration and the club needs to learn from this. It was also acknowledged that the price was a stumbling block and something they will be looking at. However a large drop in price would have much wider implications if the club needed to later increase these year upon year, with the rises being much steeper for the club to remain viable in terms of minimum revenue required to operate within FFP.

 

Sorry, one more of you don’t mind…

I think you have direct contact with the owners - if so, have they confirmed this to you?

[Ben-2000]

Words fail me.

 

[wilsdenrover]

4 minutes ago, Ben-2000 said:

Words fail me.

 

🤦‍♂️ sometimes it’s better to say nothing at all.

Edited January 16 by wilsdenrover

[BigUts]

24 minutes ago, StubbsUK said:

Here's a good round up of what we know: https://www.brfcs.com/magazine/articles/breaking-down-venky's-and-hmrc's-impact:-what's-next-for-rovers/483

Sorry Stubbs, I was talking about a cribsheet of some kind that can easily be read on Twitter / Facebook etc.

[Mattyblue]

This club will be in non league before the majority wake up. 'Oh, how did that happen?'

[Dreams of 1995]

Who even are the proud Rovers committee? I take it they are our LGBT group?

It is an absurd statement for them to make really

[wilsdenrover]

Just now, Dreams of 1995 said:

Who even are the proud Rovers committee? I take it they are our LGBT group?

It is an absurd statement for them to make really

https://proudrovers.co.uk/

[Mercer]

Any prospective buyer of Rovers would want the club for nowt and debt free.

Venky's face a huge write-off when they relinquish the club either voluntarily or through insolvency.

Just consider this - for starters, any new owner would need circa £30/40million in working capital just to keep the show on the road!

The only way Venky's were going to recover sizeable chunks of their investment was for Rovers to get back to the PL.  Sadly, that ship sailed and Venky's failed to jump on board on more than one occasion.

Would think Venky's are now close to tipping point as not only are they continuing to flush £20million per year down the sh1tter but the aggravation factor is growing rapidly with scrutiny / process from the Indian authorities.

Sadly, our future looks as bleak as today's horrible weather.

Edited January 16 by Mercer

[rigger]

35 minutes ago, Ben-2000 said:

Words fail me.

 

These are the sort of comments that have lead us to being in the shit. 

[martonrover]

13 minutes ago, Dreams of 1995 said:

Who even are the proud Rovers committee? I take it they are our LGBT group?

It is an absurd statement for them to make really

“Just get behind the lads FFS” 🙄

[TugaysMarlboro]

44 minutes ago, Ben-2000 said:

Words fail me.

 

I'm hardly a wordsmith, but it looks like words fail them too.

'accuracy prevails over sensationalism' 

Is it not accurate based off public documentation that Rovers were threatened with a winding up order?

[Silas]

45 minutes ago, Ben-2000 said:

Words fail me.

 

Just to nip this in the bud, everyone is free to disagree with this statement as strongly as they want.

But please DO NOT make it personal or about the group as a whole. 

The reasons for this should be blindingly obvious. 

[TheWeasel]

43 minutes ago, Ben-2000 said:

Words fail me.

 

What an absolutely worthless statement, and a disappointment that these so called committees are not looking at the bigger picture. As much as us Rovers fans love a good moan I think we're generally pretty supportive of players and do back the team but ultimately due to the absolute shower of shite behind the scenes we one day might not even have a team to "back"...

[Hasta]

2 hours ago, Ben-2000 said:

Words fail me.

 

Happy clapper, bury your head nonsense, probably written by someone who has been seduced by Waggott and his pals offer of biscuits and cups of tea.

Edited January 16 by Hasta

[broadsword]

30 minutes ago, Mercer said:

Any prospective buyer of Rovers would want the club for nowt and debt free.

Venky's face a huge write-off when they relinquish the club either voluntarily or through insolvency.

 

 

In your opinion it is definitely when and not if?

[miqaayil]

There's rumor BAHRAIN royals or sovereign fund looking for football club ...Would they buy us ? Maybe our trust should start emailing potential owners ...we might strike lucky ... 

 

We put banners "PLASE SAVE US FROM VENKYs"

[Adam C]

2 hours ago, Bbrovers2288 said:

I remember years ago emailing red bull asking them to consider buying us, 

mainly because they were buying clubs and sinking lots of money in them , thought we would have been a good fit for their portfolio, ex league champs, their can has similarity to our top, our abbreviated name would be rBBr 

 

I was of course mainly joking however I received a totally serious email back from some management exec saying thanks for bringing us to their attention but they weren’t looking at an English investment at the time, however if they did they would consider us. Might be time to re-ask 😂

Waggott out!

Bbrovers2288 in!