Venky’s, HMRC…The Plot Thickens ?

[Upside Down]

I always said that we'd be more likely to end up like Bury with venkys.

I really hope this leads to us finally being rid of them. We know there are people literally lining up to buy this club.

[ABBEY]

11 minutes ago, Herbie6590 said:

12 additional employees…new contracts for players…soon accounts for £1.1m…

fleck and his magical 11 minutes at however many tens of thousands a week

[Exiled_Rover]

25 minutes ago, ABBEY said:

fleck and his magical 11 minutes at however many tens of thousands a week

Those are surely the 2024 numbers - considering we sold Wharton for £18m+ in January

[Wheelton Blue]

7 minutes ago, Exiled_Rover said:

Those are surely the 2024 numbers - considering we sold Wharton for £18m+ in January

Correct. These statements are for the financial year ending June 23. The real sh!t show won't be revealed for a another year.

[RoverDom]

59 minutes ago, Exiled_Rover said:

How are wages POSSIBLY up?!

Ayala, Dack, Kaminski, BBD (reported to be our top earners) all left in the summer and weren't replaced. 

Aren't the accounts up to end of June 23? so those wages would still be in those figures. 

[RoverDom]

The timing of football club accounts isn't helpful. Being made up till end of June and then not due till March, means that by the time they've been published, there's been two transfer windows and the whole picture could have changed drastically. 

[tomphil]

It's that time of year again the books have been cooked after a bit of extra time in the oven, they've been removed but the oven remains firmly switched on.

Once they've cooled down they'll still taste like unsavoury crap.

[Tom]

It’s not all negative at least

Steve Waggott secured a £40k / 13% increase to £308k

[RoverDom]

What makes up this figure? 

 

edit: just noticed that everything was signed off 19th December so this won't include the Wharton sale - thankfully. 

 

But this begs the question, if everything was finalised pre Xmas how have we managed to submit the accounts late? We really are a shambles of a business

Edited April 9 by RoverDom

[tomphil]

Which players could we end up owing 6 million on ?

Is this yet another GB/Waggot/Suhail masterstroke.

[Tom]

4 minutes ago, RoverDom said:

What makes up this figure? 

Kaminski and Ash Phillips along with Tayo Edun and a couple of youngsters?

[RoverDom]

Just now, Tom said:

Kaminski and Ash Phillips along with Tayo Edun and a couple of youngsters?

I thought it should include Wharton but then noticed the dates. 

[Tom]

5 minutes ago, tomphil said:

Which players could we end up owing 6 million on ?

Is this yet another GB/Waggot/Suhail masterstroke.

No idea. Looking at the summer incomings you wouldn’t expect any have performance related add ons and if it’s the likes of Telalovic and Wahlsted they are never likely to be payable!

[philipl]

Irrespective of the accounts being dated 19 December, they were issued this week. My recollection is that any materially adverse occurrence should be reported on as at the date of filing with Companies House.

So the situation hasn't got any worse but the late filing would indicate the Directors were hanging on in the hope that the going concern wording could be improved (perhaps it has been from what it would have been without the Wharton sale).

 

[J*B]

39 minutes ago, Tom said:

It’s not all negative at least

Steve Waggott secured a £40k / 13% increase to £308k

Total guesswork, but his salary changes year on year so my assumption would be his salary is dictated by success on and off the pitch i.e. its gone up this period because our commercial income increased and we finished 7th in the league. It wouldn't surprise me if some of the increase was down to Venky's paying more for sponsorship to help invest money into the club, which is bonkers.

[Wheelton Blue]

33 minutes ago, Tom said:

No idea. Looking at the summer incomings you wouldn’t expect any have performance related add ons and if it’s the likes of Telalovic and Wahlsted they are never likely to be payable!

Szmodics and Hyam perhaps as signings from the previous year?

[Wheelton Blue]

3 hours ago, Mattyblue said:

‘Material uncertainty exists that may cast doubt on the company’s ability to continue as a going concern’

Well, there it is in black and white. 14 years into their destruction and the accounts state that there is a material threat of insolvency.

That upcoming £6m summer spend is looking like a shoo in.....

[tomphil]

38 minutes ago, Tom said:

No idea. Looking at the summer incomings you wouldn’t expect any have performance related add ons and if it’s the likes of Telalovic and Wahlsted they are never likely to be payable!

There is no one in our squad that those kind of add ons should have been agreed to.

Hope it is Telalovic and Leo because as you say safe as houses it won't be paid BUT whoever is agreeing it needs seriously calling into question.

Maybe that's why Telalovic hardly gets a sniff if it's appearance related.

[roverblue]

I vaguely remember Barry Fry going on about us owing them a fair wedge for Sammy if we got promoted to the Premier League. Imagine there will be similar for other newly signed players like Hyam etc. 

It won't matter as we will never get there!

[Blow-in]

6 minutes ago, roverblue said:

I vaguely remember Barry Fry going on about us owing them a fair wedge for Sammy if we got promoted to the Premier League. Imagine there will be similar for other newly signed players like Hyam etc. 

It won't matter as we will never get there!

We have probably signed up to 60% share of any profit made on his sale too.

 

[tomphil]

Yep when Szmods is sold in summer and the usual mob get excited about fantasy spending they'll soon hit earth again with a bump when it gets revealed we only have a few million in profit.

[Mattyblue]

13 minutes ago, tomphil said:

Yep when Szmods is sold in summer and the usual mob get excited about fantasy spending they'll soon hit earth again with a bump when it gets revealed we only have a few million in profit.

1st August, Sammie’s sold for £8million and a Raya slice too (putting AW’s fee to one side) and it will be all ‘now we can buy a keeper, a striker and a winger - it’s called being a trading club’

September 1st, net spend of (minus) £10million , minus £30million in two windows -  ‘err what did you expect! You do know there’s this thing called FFP and we’ve no money because of our shit support.’

 

Where’s that pillow to scream into.

Edited April 9 by Mattyblue

[Rogerb]

Cash at bank 30 June 23 was £25900. Basically run out of Dosh.

The overdraft facility of nearly £15 million is up for review on 10 May.

[tomphil]

Already had one pile in straight away on twitter telling me all clubs who spend more than they earn simply have to sell players to make up the deficit, a trading model it was described as.

To which i then had to explain the startling difference between a trading club and a sell to survive one, not least the irony being the whole idea of having wealthy owners is to employ capable administrators  to plug that gap and keep the team competitive whilst navigating FFP. 

No Rovers fan should ever need the threat explaining to them about being just a selling to keep the lights on club the example of the nose dive to league 1 last time is still fresh in the memory of most.

Edited April 9 by tomphil

[JHRover]

Owners who are responsible for the club rotting away into a state whereby it needs an Indian Court's approval to keep the bills paid and lights on for the next few months and is no longer considered a viable concern then get credit from some numpties for keeping the lights on.

Bolton and Derby were the most recent two examples of 'be careful what you wish for' - now about to get promoted so probably in a healthier condition than us in every department within the next few months so they'll then shift to Reading (about to get taken over) and someone else as examples of why Venkys are great.