Venky’s, HMRC…The Plot Thickens ?

[G Somerset Rover]

Very well contributed, Ian. Great to see that the likes of Oliver Kay - who from memory has always been fair and supportive of us - have Venky’s back on their radar.

This one snippet is particularly galling:

One source, speaking on condition of anonymity to protect relationships, recalls approaching Mrs Desai with interest from two potential buyers in the mid-2010s and politely being told not to trouble her with such matters again. “We are not interested in selling,” came the message from Pune.

Edited March 5 by G Somerset Rover

[ABBEY]

I think Oliver kay was at KGH if memory serves and was chatting 

Edited March 5 by ABBEY

[garner1971]

2 hours ago, Herbie6590 said:

To read this article in full on iPhone - click in the status bar & select Show Reader

This is a fantastic article. How do we get this out to a wider audience? We really need to ramp up the pressure on the Rao family. As a fan of 40 years, they are even starting to kill my spirit now. 

[lraC]

52 minutes ago, garner1971 said:

This is a fantastic article. How do we get this out to a wider audience? We really need to ramp up the pressure on the Rao family. As a fan of 40 years, they are even starting to kill my spirit now. 

It is known by the wider audience so to speak. I got the full article E Maile me today, by a journalist who is a sports reporter for one of the regular red tops. 

[garner1971]

36 minutes ago, lraC said:

It is known by the wider audience so to speak. I got the full article E Maile me today, by a journalist who is a sports reporter for one of the regular red tops. 

Thank you for advising. I just feel like so many others to be honest. Watching something we all love being ruined beyond repair in front of our eyes. And not being able to do a thing about it. I hate what the Rao family are doing to our club. 

[DE.]

Great quotes from you @Herbie6590, you represent the fanbase incredibly well.

Edited March 5 by DE.

[Herbie6590]

4 hours ago, DE. said:

Great quotes from you @Herbie6590, you represent the fanbase incredibly well.

Thank you…much appreciated 

[RevidgeBlue]

Does anyone know if we are still going to Court on March 12th as things stand?

[tomphil]

I expect it'll all go through and just enough to see us through to summer will be made available.  Next date will be set for well into next season so liquidating more assets and more cuts with have to be done to see us through to next Oct'ish.

Death by many cuts when a lot would prefer a clean cold one chop job and just get it over with.

[lraC]

4 hours ago, RevidgeBlue said:

Does anyone know if we are still going to Court on March 12th as things stand?

As things stand it is still happening. The outcome could be interesting though, especially if anyone making the decision, is aware of the article that surfaced yesterday. 

[ABBEY]

7 hours ago, tomphil said:

I expect it'll all go through and just enough to see us through to summer will be made available.  Next date will be set for well into next season so liquidating more assets and more cuts with have to be done to see us through to next Oct'ish.

Death by many cuts when a lot would prefer a clean cold one chop job and just get it over with.

Yup ..rip the band aid off and let the exposed wound heal

[toogs]

6 hours ago, lraC said:

As things stand it is still happening. The outcome could be interesting though, especially if anyone making the decision, is aware of the article that surfaced yesterday. 

What's their email?

[toogs]

2 hours ago, ABBEY said:

Yup ..rip the band aid off and let the exposed wound heal

Agree, although the wound is a gangrenous festering limb stump.

[lraC]

19 minutes ago, toogs said:

What's their email?

I don't know.

[Herbie6590]

13 hours ago, RevidgeBlue said:

Does anyone know if we are still going to Court on March 12th as things stand?

Seems so…taken from the portal just…

[NeilInBristol]

13 hours ago, Herbie6590 said:

Thank you…much appreciated 

Just read it in full.

Fantastic quotes and article. Great balanced and clear representation of our fans view. Thanks @Herbie6590 

[steved]

9 hours ago, toogs said:

What's their email?

https://enforcementdirectorate.gov.in/contact-us

[Silas]

On 05/03/2024 at 15:15, Herbie6590 said:

https://theathletic.com/5277307/2024/03/05/blackburn-rovers-gary-neville/?utm_medium=social&utm_campaign=twitterfc&source=twitteruk

I know there's bigger problems on the table, but this still sticks out to me:

"An agent who has dealt with Blackburn regularly over the past decade says that, while the McGuire case was clearly extreme, any negotiation with the Lancashire club is approached with the acknowledgement that an agreement may ultimately be vetoed once it has been passed on to India."

 

If I imagine a World where we escape relegation, win the Court case to ensure future funding from India, get the Wharton/Raya money for investment, and then go into a vital summer transfer window to rebuild.

We're then in a cutthroat and ever competitive transfer market, with a wallet considerably less than most, and a stench like that wafting around us. 

It's almost an impossible task. 

Just grim.

And that's the optimistic version. Reality is probably lost Court case, all transfer funds swallowed up. 

[tomphil]

It will always be impossible whilst these lot own the club and have their puppets running it.

Money or no money it's always the same and we've seen both extremes under their ownership.

It's pathetic to put it politely.

[broadsword]

From the athletic article

 

"The takeover initially cost Venky’s around £43million for the equity plus a further £20million paid to clear debts. Since then they have pumped in a total of around £200million, most of which they know they will never recoup."

 

I thought it was 43 total, twenty three for the equity?

[tomphil]

I thought it was 23 mill, 10 mill for immediate debt then 10 mill to be injected straight away to cover running costs ?

[philipl]

There were a bunch of fees paid including 5m to the tantric agent (official no doubt plus plus) so cost of 43m is about the number I had in mind.

[TheRevAshton]

Waggott provides update on Venky's and Blackburn finances

[arbitro]

2 minutes ago, TheRevAshton said:

Waggott provides update on Venky's and Blackburn finances

It's not an LT interview rather they have pliagarised the minutes from the meeting between Swag and WATR.

It would give them far more crediblity if their own reporter met with him.

[broadsword]

47 minutes ago, tomphil said:

I thought it was 23 mill, 10 mill for immediate debt then 10 mill to be injected straight away to cover running costs ?

Not sure about that.

 

From what I remember under the trust, our o/d with Barclays was running at a steady twenty mill