Venky’s (& Suhail) Out Protest Ideas

[wilsdenrover]

7 minutes ago, Upside Down said:

I would suspect that they wouldn't have started the process without knowing they would secure some kind of conviction. 

Really hoping the money runs out soon. Administration can't come soon enough.

I’m not sure we’re near that stage yet - if/when the money runs out I’m guessing they’ll start borrowing against the training ground etc etc.

 

[paullarrygher]

They've already used the emergency payday loans once, no reason they won't do it again.

Also, am I reading that ED press release right? That 3.3m that was supposedly sent to VLL for the club was instead diverted to invest in Akon's music company? If that's the case - surely the line that "the case doesn't involve/affect the club" is nonsense.

Balaji still hanging out with Akon. He had him at his birthday party in December that led to a bunch of complaints from angry locals: https://www.indiatoday.in/india/story/case-against-organisers-of-pune-bash-featuring-shankar-mahadevan-akon-2647944-2024-12-10

[Tomphil2]

I wonder if any of those locals know he's been pissing off locals in another town halfway across the world for nearly 15 years now.

[lraC]

7 hours ago, paullarrygher said:

They've already used the emergency payday loans once, no reason they won't do it again.

Also, am I reading that ED press release right? That 3.3m that was supposedly sent to VLL for the club was instead diverted to invest in Akon's music company? If that's the case - surely the line that "the case doesn't involve/affect the club" is nonsense.

Balaji still hanging out with Akon. He had him at his birthday party in December that led to a bunch of complaints from angry locals: https://www.indiatoday.in/india/story/case-against-organisers-of-pune-bash-featuring-shankar-mahadevan-akon-2647944-2024-12-10

Funds that were transferred under the guise of being for the club, were  diverted and used for other purposes, so yes you are right.

What some people are saying is that the club, are not under investigation, which is true, but logic tells us that the owners being under investigation and ultimately being forced to provide a bond, which seems to have, made them reluctant to send funds, is bound to have an affect on the club. 

[lraC]

11 hours ago, paullarrygher said:

They've already used the emergency payday loans once, no reason they won't do it again.

Also, am I reading that ED press release right? That 3.3m that was supposedly sent to VLL for the club was instead diverted to invest in Akon's music company? If that's the case - surely the line that "the case doesn't involve/affect the club" is nonsense.

Balaji still hanging out with Akon. He had him at his birthday party in December that led to a bunch of complaints from angry locals: https://www.indiatoday.in/india/story/case-against-organisers-of-pune-bash-featuring-shankar-mahadevan-akon-2647944-2024-12-10

This is the most damning article out there in my opinion, as it goes into quite a bit of detail, about where the funds went, what they were supposed to be used for and seems to imply that throwing money at loss making entities abroad, may well breach some rules.

 

https://legal.economictimes.indiatimes.com/news/litigation/ed-seizes-fresh-rs-24cr-assets-of-venkateshwara-hatcheries-in-fema-probe/104293586

[47er]

Not worth the football authorities having a look though! My favourite dream ends when they order Venkys to sell the Club.

Then I wake up!

[RoverCanada]

Swiss Ramble posted a review today of our 2023-24 accounts in his usual highly-digestable way: https://swissramble.substack.com/p/blackburn-rovers-finances-202324

Most of it is behind a paywall, but can do a 7-day free trial to access it.

I haven't read it yet myself, but perhaps can share some highlights later (although I doubt it'll say anything we don't already know!)

Edited 4 hours ago by RoverCanada

[lraC]

[chaddyrovers]

31 minutes ago, RoverCanada said:

Swiss Ramble posted a review today of our 2023-24 accounts in his usual highly-digestable way: https://swissramble.substack.com/p/blackburn-rovers-finances-202324

Most of it is behind a paywall, but can do a 7-day free trial to access it.

I haven't read it yet myself, but perhaps can share some highlights later (although I doubt it'll say anything we don't already know!)

https://x.com/SwissRamble/status/1931976515924775117?s=19

wages not far off the same over the last 5 years

 

 

 

 

 

[Mattyblue]

As Swiss Ramble rightly points out salaries obviously only go one way in football (⬆️), so without increasing the wage bill a club will ultimately find it harder and harder to compete on the pitch.

[lraC]

This has appeared today and goes to show, how a club at a similar level to Rovers, can easily go this way, with poor/questionable owners.

I can't remember it, but apparently he owned Leeds at one point.

https://www.msn.com/en-gb/sport/football/brescia-go-bankrupt-lose-right-to-compete-in-pro-leagues/ar-AA1GllJx?ocid=msedgdhp&pc=U531&cvid=0def104f90a643a48f5149f5dfb6d251&ei=17

[chaddyrovers]

8 minutes ago, lraC said:

This has appeared today and goes to show, how a club at a similar level to Rovers, can easily go this way, with poor/questionable owners.

I can't remember it, but apparently he owned Leeds at one point.

https://www.msn.com/en-gb/sport/football/brescia-go-bankrupt-lose-right-to-compete-in-pro-leagues/ar-AA1GllJx?ocid=msedgdhp&pc=U531&cvid=0def104f90a643a48f5149f5dfb6d251&ei=17

He did own Leeds. Its when he appointed Dave Hockaday as head coach where it's lasted about 6 or 7 games

[lraC]

8 minutes ago, chaddyrovers said:

He did own Leeds. Its when he appointed Dave Hockaday as head coach where it's lasted about 6 or 7 games

Thanks.

Sounds like a dangerous man to own one of our clubs and makes you wonder yet again, about fit and proper.

[RoverCanada]

1 hour ago, Mattyblue said:

As Swiss Ramble rightly points out salaries obviously only go one way in football (⬆️), so without increasing the wage bill a club will ultimately find it harder and harder to compete on the pitch.

Yup.

Rovers' wage bill may have been nominally flat since 2019-20, but just plugging our 2019-20 £25.6m wage bill into the Bank of England's inflation calculator, that's equivalent to £32.7m in today's money, or a ~25% real cut if our wage bill is currently around £25m. Sure, footballers are privileged folk, but their agents will certainly be aware of economy-wide inflation when negotiating new contracts...

To be somewhat fair, Championship aggregate wages had been flat/declining for some time due to Covid, plus perhaps a slight regaining of financial sanity by owners, but there was a big jump in 2023-24. Part of that will be due to Luton getting promoted on the cheap (I'd also suspect the rise of immediate parachute club bouncebacks have suppressed the league-wide wage bill), but it'll also reflect the new commercial deal feeding through + general inflation (and keeping the lights on has gotten pricier!)

Revenue has been growing too. Obviously rebounding from Covid, but 2022-23 and 2023-24 were mainly due to JDT's Cup runs (which will likely have boosted our player costs too!) and the Championship's league-wide commercial deal improving by a few million.

Edited 2 hours ago by RoverCanada

[Tomphil2]

Hopefully the championship wages for bog standard players and young players has been organically capping itself although i think ours has a lot to do with fluffing out the squad with kids.