Venky’s v Indian Government (a) - 5/8/2025 - Post-Season Friendly (s/t late postponements)

[wilsdenrover]

10 hours ago, Upside Down said:

Definitely begs the question of what was the other 22 million for?

We've managed to survive the last few years on less than 20 million total so how were they needing to send 15 million a year? Where was it all going?

 

I’m going to do some more speculating here.

The £26 million was requested (as evidenced in order of 7/6/23) for Venkys London Ltd, Venkys Overseas Limited and Venkateshwara London Limited - but with no details as to proportions.

The Order dated 31/10/23 then tells us this £26 million was to cover their commitments for the year 23-24 (suggesting ‘payment in advance’)

 Venkys Overseas Limited is the company which they claimed was for rearing of ducks etc (source - Directorate of Enforcement press release 2/9/23)

As you know, Venkateshwara London Limited own the training ground - I’d postulate some of that £26 million was to enable them to pay instalments due (to the club) on the purchase of this.

The fact they then took out the loan against the training ground (I think someone may have suggested £9 million?) possibly supports this.

In October ‘23 the next £11 million was requested - the breakdown in the relevant order (31/10/23) indicates this was also for 23-24 commitments (which I’d suggest makes this part of the initial £26 million)

£3.54 million sent + £11 million sent + £9 million loan on training ground = £23.54 million (not far off - maybe the remainder was for rearing more chickens🤔 * )

* Despite the aforementioned DoE press release stating no business activity being initiated in the eleven years since Venkys Overseas was  incorporated 🧐🤨 (nothing dodgy in trying to send more funds to them then…)

I’ve made a few assumptions along the way there so I might be spot on but equally I could be entirely wrong!! 
 

Edited to add an additional thought…

The £15 million in March ‘24 could be the payment in advance for 24-25.

Is this figure lower than the year before because of Adam Wharton…

Edited 2 hours ago by wilsdenrover