Valérien Ismaël: Blackburn Rovers Head Coach

[miqaayil]

4 hours ago, RevidgeBlue said:

I think it's more likely that the owners don't WANT to be relegated but that Pasha and Gestede (and Waggott when he was still here) pitched them this masterplan about how they could reduce the age of the squad with a view to selling players on, save a shitload of costs in terms of wages and STILL retain Championship status!

(Cue £ signs!)

In short the stooges have played Russian roulette with our Championship future and probably failed. The live bullet is about to go off.

I still dont think either that anyone has accounted properly for the loss of Championship TV Revenue if we go down plus all the other associated loss of revenue.  

The net position will be we'll be a lot worse off.

Sorry i do disagree ...the owner Mr Pasha and the Signboard Vs do want relegation .. as low this club will go ... then declare bankruptcy but not administration ...awaiting favourable climate in India for write off of SBI Loans....i hope i'm wrong but it's the only way everyone involves walks away unscathed ....

i pray to god i'm wrong but all i'm seeing is managed decline 

[Tomphil2]

8 minutes ago, KentExile said:

Is it possible that last time they hadn't put massive wage reduction clauses into players contracts for relegation to League one?

But that this time they have? 

Still have the loss of revenue to factor in, as you say

They had done on quite a few of them but we have to remember a lot of them were on big long contracts unlike now, allegedly.

They got rewarded with one year contract extensions on promotion which probably was part of the deal when exercising the reduction clauses so they didn't really lose out long term.

[Roverthechimp]

6 minutes ago, KentExile said:

Is it possible that last time they hadn't put massive wage reduction clauses into players contracts for relegation to League one?

But that this time they have? 

Still have the loss of revenue to factor in, as you say

Question is how many of the squad post summer 2026 will be on a "championship" wage even if we are still in the championship? Pears, Cantwell, Pickering, Wharton and maybe Carter (though historically own products have been on the lower end of the pay scales). We know who they are trying to shift through the door - add on transfer fees for Alebiosu and possibly Gudjohnsen (if he continues his scoring record) and suddenly the losses aren't so bad (maybe even a net profit if Adam Wharton gets a move and Alebiosu deal is structured with a fair amount up front)

[wilsdenrover]

1 hour ago, Tomphil2 said:

They had bounce back first time in mind last time though and even though wages dropped they were still double figure weekly pay for a lot of that squad.

Plus they spent a bit with promotion in mind.

The weekly wages of these players is no doubt in the main significantly less than last time and presuming they weren't going all out for an instant return there'd be a net transfer scenario rather than a minus one. That might well balance any initial shock to the losses column and depending on what they do with the academy after the first season costs could be pulled more in line with established lge 1 clubs.

A load more variables offer themselves up as well, bin the training ground and move everything to the academy to save rent. The academy would probably be bookmarked to provide most of the lge 1 playing squad moving forwards so that would need maintaining but not forking out for transfers and bigger wages balances that a bit.

Shelve work on the ground and pitch as standard required are lower plus areas of Ewood could be mothballed etc etc.

Scary stuff but Indian accountants thousands of miles away won't give a shit about all that.

Our annual wage bill at March 2025 was around £5 million more than it was in March 2017 so a reduction of £10 million would be needed to get to our last L1 wage levels.

This is clearly possible, maybe even likely, given the apparent aims of Pasha etc - but last time this still lead to the £16 million pound losses I mentioned earlier.

As you say,  ‘savings’ would have to be made elsewhere, none of which would be anything other than detrimental to the club (and the team).

Player sales may negate the need for some of these cuts but, other than Toth and Ryan, who could we realistic expect to get decent money for?

However many cuts they make, they’ll still be losing money - the only way for them to stop this is to sell the club.

One day I hope they’ll realise, and I hope it’s one day very very soon.

Edited to add:

Last time we went down match day income ‘only’ dropped by £500,000 - I suspect the drop would be far greater this time…

 

Edited Monday at 18:14 by wilsdenrover

[wilsdenrover]

1 hour ago, KentExile said:

Is it possible that last time they hadn't put massive wage reduction clauses into players contracts for relegation to League one?

But that this time they have? 

Still have the loss of revenue to factor in, as you say

Possibly, I’ve no idea what sort of % a player would agree to having in his contract though.

 

[Tomphil2]

4 minutes ago, wilsdenrover said:

Our annual wage bill at March 2025 was around £5 million more than it was in March 2017 so a reduction of £10 million would be needed to get to our last L1 wage levels.

This is clearly possible, maybe even likely, given the apparent aims of Pasha etc - but last time this still lead to the £16 million pound losses I mentioned earlier.

As you say,  ‘savings’ would have to be made elsewhere, none of which would be anything other than detrimental to the club (and the team).

Player sales may negate the need for some of these cuts but, other than Toth and Ryan, who could we realistic expect to get decent money for?

However many cuts they make, they’ll still be losing money - the only way for them to stop this is to sell the club.

One day I hope they’ll realise, and I hope it’s one day very very soon.

 

 

Problem is they haven't been bothered about losing money it's debatable that its served them some kind of purpose in their accounting process.

Seems now though that they want to lose less so the model is being tailored to that and will lead to league 1 eventually as i'm sure even they know.

So a lower cost lower loss future is on the cards.

[wilsdenrover]

Just now, Tomphil2 said:

Problem is they haven't been bothered about losing money it's debatable that its served them some kind of purpose in their accounting process.

Seems now though that they want to lose less so the model is being tailored to that and will lead to league 1 eventually as i'm sure even they know.

So a lower cost lower loss future is on the cards.

There’s either a reason it suits them or they are very very stupid.

I guess it could be both.

[RevidgeBlue]

1 hour ago, miqaayil said:

Sorry i do disagree ...the owner Mr Pasha and the Signboard Vs do want relegation .. as low this club will go ... then declare bankruptcy but not administration ...awaiting favourable climate in India for write off of SBI Loans....i hope i'm wrong but it's the only way everyone involves walks away unscathed ....

i pray to god i'm wrong but all i'm seeing is managed decline 

Assuming you're right for a moment

1) When you say they'd walk away "unscathed" are you claiming the entire amount of their "investment" in the Club consists of borrowed money from BOI ?

2) What would constitute a "favourable climate"?

[lraC]

1 hour ago, miqaayil said:

Sorry i do disagree ...the owner Mr Pasha and the Signboard Vs do want relegation .. as low this club will go ... then declare bankruptcy but not administration ...awaiting favourable climate in India for write off of SBI Loans....i hope i'm wrong but it's the only way everyone involves walks away unscathed ....

i pray to god i'm wrong but all i'm seeing is managed decline 

Have you any evidence of this, or is it just your best guess?

[Tomphil2]

The problem i have with that scenario is a 100 million borrowing facility would have to surely be secured against something.

So they couldn't walk away without losing something unless it's secured against thousands of acres of scrubland.

[wilsdenrover]

Just now, Tomphil2 said:

The problem i have with that scenario is a 100 million borrowing facility would have to surely be secured against something.

So they couldn't walk away without losing something unless it's secured against thousands of acres of scrubland.

Which would need to be worth at least the 100 million or the bank wouldn’t have let them use it as security.

[lraC]

Imagine putting £500 per month into your ISA and ever year finding out it was worth less than a quarter of the amount you have put in.

Would you stick with it for 15 years or stop at some point, accepting you are investing in a dud. 

[philipl]

1 hour ago, lraC said:

Imagine putting £500 per month into your ISA and ever year finding out it was worth less than a quarter of the amount you have put in.

Would you stick with it for 15 years or stop at some point, accepting you are investing in a dud. 

Folks with Rao wealth are wired completely differently. 

[wilsdenrover]

9 minutes ago, philipl said:

Folks with Rao wealth are wired completely differently. 

Some very rich people don’t like wasting any part of their wealth. 

The Raos might be wired differently but it’s not because of how much money they have. 

[Herbie6590]

4 hours ago, miqaayil said:

Sorry i do disagree ...the owner Mr Pasha and the Signboard Vs do want relegation .. as low this club will go ... then declare bankruptcy but not administration ...awaiting favourable climate in India for write off of SBI Loans....i hope i'm wrong but it's the only way everyone involves walks away unscathed ....

i pray to god i'm wrong but all i'm seeing is managed decline 

I’m sorry but this post makes absolutely no sense. 
Please feel to expand upon why relegating an English football club will make a global bank decide to write off loans in a different country secured on assets in that different country. 
 

Also, please explain the legal mechanics of how V’s will then go straight to liquidation (bankruptcy is for individuals not companies BTW) without bothering to go into administration & why/how that is beneficial for them? 

It’s really simple IMO…V’s have reduced the budget (probably at the suggestion of Suhail) & as wage bill & league position are closely correlated in football, the inevitable result ultimately will be relegation. 
 

[lraC]

54 minutes ago, Herbie6590 said:

I’m sorry but this post makes absolutely no sense. 
Please feel to expand upon why relegating an English football club will make a global bank decide to write off loans in a different country secured on assets in that different country. 
 

Also, please explain the legal mechanics of how V’s will then go straight to liquidation (bankruptcy is for individuals not companies BTW) without bothering to go into administration & why/how that is beneficial for them? 

It’s really simple IMO…V’s have reduced the budget (probably at the suggestion of Suhail) & as wage bill & league position are closely correlated in football, the inevitable result ultimately will be relegation. 
 

I had to look twice when I read that post to make sure, it wasn’t a new account. It’s not but the post made is total nonsense.

[RoversSG]

On 27/01/2026 at 05:26, Herbie6590 said:

I’m sorry but this post makes absolutely no sense. 
Please feel to expand upon why relegating an English football club will make a global bank decide to write off loans in a different country secured on assets in that different country. 
 

Also, please explain the legal mechanics of how V’s will then go straight to liquidation (bankruptcy is for individuals not companies BTW) without bothering to go into administration & why/how that is beneficial for them? 

It’s really simple IMO…V’s have reduced the budget (probably at the suggestion of Suhail) & as wage bill & league position are closely correlated in football, the inevitable result ultimately will be relegation. 
 

 

Agree. What I think is most likely is it's boils down to a matter of face and not wanting to admit they have made stupid decisions both in acquiring us and they have been fooled by charlatans along the way.

We are probably one of the many subsidiaries in their group and the losses are not affecting their overall group profitability too much thus they treat it as a "out of sight, out of mind" thingy and is apathetic towards the investment rather than some grand sinister plan. 

[JHRover]

If the current situation is indeed purely down to them not wanting to admit their mistakes, saving face, not being too much of a burden on their overall finances it still doesn't add up.

We are still costing them upwards of £10 million each and every year. According to their henchman that is more towards £20 million a year. That isn't going to stop unless we get to the Premier League. We aren't going to get to the Premier League because of their cost cutting attempts and running good managers out of the door every year. 

We aren't going to be self-sufficient in this league, or League One, unless we get very lucky with our player development/trading. They may think they can be after the deals for Wharton and Szmodics but that isn't an annual occurrence and their pocketing of the money for running costs is now going to cost us big time. 

Even if we can be self-sufficient - to what end? Who gains / benefits? As above, it comes at the expense of getting promoted, which they have proven is not their priority. 

Now if this was a passion for them - they enjoyed football, wanted to win, basked in the glory of owning us, came to games and enjoyed lording it over everyone, or had ties to the town etc. then I could maybe understand the enjoyment of all that might be worth sucking up that sort of loss every year.

But they clearly get zero - or close to zero - benefit from this at their end. At best Balaji enjoys telling people he has a football club. And then when those people realise it is a failing 2nd or soon to be 3rd division club those people probably won't be impressed - if anything that would be a source of embarrassment as you'd want a PL club to really boast about it. Especially then when anyone who looks into it would see that they are the ones responsible for putting us here. 

I assume that they are surrounded by an army of lawyers, accountants, advisors, many of whom they trust to advise them on all aspects of their wealth and businesses. I can't believe that those people are happy with the drain and hassle of keeping this going. I presume that competent advisors would be regularly raising this arm of their empire and strongly suggesting that they get rid of it asap. 

£10-20 million a year is still a lot of money. Even to someone worth £1 billion it is still 1-2% of your whole wealth in liquid cash each and every year going into a black hole for which you get no pleasure/enjoyment/benefit. A £200million+ 'investment' and growing is one hell of a dint in people even with a net worth of £1,2,3 billion. 

There must be something somewhere along the line - be that financial advantages to their other businesses, or activities they don't want people from finding out about upon a sale, that make it worth keeping. 

Not wanting to admit failure or defeat just doesn't cut it. You'd get rid and just ignore it and start spending the cash on some other more rewarding venture and just keep quiet about it if your mates ask rather than carry on stumping up that sort of money to rattle around the bottom end of the Championship. 

[Tomphil2]

There is something at the heart of it all and i'm not sure the 'balance sheet' is the main driving factor in it.

A company worth say 2 billion dumps its financial black hole on the cheap, writes off the loans but saves itself 15 million a year is still worth 1.8 billion.

Nobody would blink at that back in India.

[JHRover]

Even if this is all family wealth funding it rather than company wealth, and assuming the family are worth billions and the family members are all content to keep on funding this, if they have a net worth of say £2-3 billion, which includes all their land, properties, shares, companies, cash the lot, circa 10% of that has gone down the drain over the last 10-15 years. 

Now that might not make a difference to them, as they can still afford to do everything else they want in life, but I know any businessman that loses 10% of his wealth on a still failing venture doesn't just carry on with it indefinitely for 'pride' or face saving. 

Their advisors would surely be telling them to stop the leak of cash and instead redirect it to investments in property, land, shares and grow value. 

Then there's the question as to their actual wealth - very little information available but seems unlikely that it is going up beyond £10 billion as that would put them into the Forbes rich list territory which they aren't. Infact they aren't anywhere to be seen in the top rankings of Indian families. It has long been believed that a lot of their wealth is in land and their shares, so not liquid cash they can easily just send to the UK to fund Rovers every year. 

No, I think this must be hurting them financially and that stacks up with what we have seen going on here over the last 3-4-5 years. I suppose the only question is whether there is a tipping point. 

Edited 5 hours ago by JHRover

[Tomphil2]

I can't see how it's family wealth funding it the way it's all set up the money comes from the VH group.

These types don't shell out of their own pockets everything is done through their businesses that's how they take advantage of various tax perks etc.

The unwise buying of the house and funding Akons part appearances show this, had they tipped up out of their pockets there wouldn't have been an issue.

Plus if they'd poured 200 mill of their own money in i'd wager they'd want something back, might even have run it better to try for the Prem because if not that personal fortune is gone.

Doing it through the business the debt just stays on the books as inter company loans as pointed out and it actually adds value to the company portfolio.

And if it goes tits up at some point it just gets written down as a massive loss, shaves a bit off the company worth but also shaves the tax bill. These loons would be on skid row now if they used personal money.

We are just a cog now in a much bigger corporate wheel that will just keep turning until something eventually gives.