Jump to content

BRFCS

BY THE FANS, FOR THE FANS
SINCE 1996
Proudly partnered with TheTerraceStore.com

Venkys London Ltd accounts


Recommended Posts

Huh, looks like we got ~£1m for Marshall then.

Interesting that our net spend has actually only been £300k since March 2017.

So, roughly, we got £500k for Steele, spent £750k on Dack, leaving £50k for Samuel, Gladwin, Hart, and Leutwiler? I could see the latter three being frees, but Samuel was probably more than £50k... And we may owe up to £1.75m on top of that; likely promotion-related clauses.

Perhaps the compensation for Mahoney has been agreed and received. I recall Samuel's fee being estimated at £250-£500k at the time, so perhaps we got £200k-£450k in compensation for Mahoney? 

Loans may tilt things a bit too if fees are involved.

Link to comment
Share on other sites

32 minutes ago, RoverCanada said:

Huh, looks like we got ~£1m for Marshall then.

Interesting that our net spend has actually only been £300k since March 2017.

So, roughly, we got £500k for Steele, spent £750k on Dack, leaving £50k for Samuel, Gladwin, Hart, and Leutwiler? I could see the latter three being frees, but Samuel was probably more than £50k... And we may owe up to £1.75m on top of that; likely promotion-related clauses.

Perhaps the compensation for Mahoney has been agreed and received. I recall Samuel's fee being estimated at £250-£500k at the time, so perhaps we got £200k-£450k in compensation for Mahoney? 

Loans may tilt things a bit too if fees are involved.

I too wondered where the net spend of £300k came from. Perhaps clauses from other transfers came through as well as the Mahoney one. Who knows. The Samuel fee was widely reported as £500k. Maybe a lot of that and the Dack fee was promotion/performance weighted.

Link to comment
Share on other sites

  • 3 weeks later...

Long been my opinion that some money flows through the club elsewhere in some sort of accounting practice we can't still be paying every debt from 5 years ago most of that will have been squared off now and they front loaded some a few years ago to pay a load off.

I don't care now either because if the actual paying off is significantly reduced and some money from wherever it comes from actually starts touching the sides and sticking in a way it's beneficial now then fine. If it's used properly a slow slight rebuild might get underway, before the next cashing in anyway, never let it be overlooked the 30 millionish of players sold over a couple of years and the cronic lack of reinvestment that saw us plunge to where we are now and we are still a long way from out of it yet.

Hopefully for once they'll now start fulfilling properly their obligations as owners in terms of running it to a football plan !

Edited by tomphil
  • Like 3
Link to comment
Share on other sites

  • 1 month later...

Story in The Times this morning.

’Burnley are the subject of a £180million takeover attempt from rival US and Middle Eastern investors’.

Walkers sold us for... less than £30million, with TV deals exploding. Our players were worth more than that, never mind our PL income and real estate.

Obvious who was the savvy one in that family...

Link to comment
Share on other sites

1 hour ago, Mattyblue said:

Story in The Times this morning.

’Burnley are the subject of a £180million takeover attempt from rival US and Middle Eastern investors’.

Walkers sold us for... less than £30million, with TV deals exploding. Our players were worth more than that, never mind our PL income and real estate.

Obvious who was the savvy one in that family...

We can only hope that those 6 fingered animals that have lorded it over us for the past 6 years fall on their own swords. It only takesthe removal of Dyche and some ridiculous appointment ala Bob Bradley at Swansea to set in the rot...

  • Like 1
Link to comment
Share on other sites

The sales of Jones, Samba, Kalanic totalled near enough what Venkys & their associates paid for and took on with Rovers.  Yes they also took on large contract commitments etc but within a business with guaranteed income of 20 mill plus per year and 50 mill over 4 years if relegated.

Yes they spent a bit but until Rhodes was signed they were 10 mill plus up on outgoings v incomings in terms of fees.

At the beginning they were nowhere near as daft as some would like to think in financial terms and i'll believe until i'm pushing up daises or someone proves otherwise that they got some or all their initial stake money back within the first few years.

After that well god only knows all we know for sure is they've somehow stood the bills and unfortunately made many many tossers rich in the process but over the next few seasons it would be fitting if they invested some sensible money every summer in the new set up and did a forensic audit every year to make sure it was being used correctly like recently.

As for Burnley yes please make it be true, they have a certain way of doings things that has proved right for them but any change brings a fresh approach and once it starts going tits up it's hard for outsiders to stop it.

Link to comment
Share on other sites

3 hours ago, Mattyblue said:

Story in The Times this morning.

’Burnley are the subject of a £180million takeover attempt from rival US and Middle Eastern investors’.

Walkers sold us for... less than £30million, with TV deals exploding. Our players were worth more than that, never mind our PL income and real estate.

Obvious who was the savvy one in that family...

£180 million plus the cost of a new stadium to replace their Health & Safety abomination.

Its got feck up written all over it.

Meanwhile the Burnley board deny these reports.

Finally I wish Big Sam and Everton a successful day.

Edited by AllRoverAsia
Link to comment
Share on other sites

One of the few things to respect Burnley for is their clawing their way to the PL on a relative shoestring. Them becoming a Man-City-lite would stick in the craw.

I wouldn’t wish a Venkys-style ownership on anyone but if someone could ? their ? that would be fine with me.

Link to comment
Share on other sites

6 hours ago, Mattyblue said:

Story in The Times this morning.

’Burnley are the subject of a £180million takeover attempt from rival US and Middle Eastern investors’.

Walkers sold us for... less than £30million, with TV deals exploding. Our players were worth more than that, never mind our PL income and real estate.

Obvious who was the savvy one in that family...

Richard Matthewman, Jerome Anderson and Steve Kean celebrate the takeover of Rovers in 2010. Howard Walker is the one dipping his head into the cash.

pigs.jpg

Pigs at the trough probably aren't renowned for their orderly mannerisms. Its pretty obvious that the Walkers were so afraid of relegation lowering the prospective price they demanded the trustees sell there and then. That's not surprising its a pretty common trait for people like the Walkers who can't see past the first glint of gold. These are people who would sell their own Grandmother for a dollar. You can see that with their complete and utter disregard for Jack and the fact that they directly do business with Venkys to this day. Those 2 stooge chefs might be the public faces but the Matthewmans are the power behind the Northchoke throne.

Edited by Vinjay17
Link to comment
Share on other sites

  • 3 weeks later...

Another £3.625m pumped in by Venkys on 21st March per companies house.

That's a total of almost £21m in the last 12 months!

 

Total Venkys London share capital now stands at £147m - a very costly venture for the Raos.

Edited by PLJPB
extra info
Link to comment
Share on other sites

Their core company share price has gone through the roof in recent times so a nice diversion of some profits and another bit off the tax bill.

These days it seems to be being put to good use for maybe the first time in actually building something instead of plugging holes, bills need paying after all and it's only expensive if you can't afford it.

Let's not forget the few years minimal investment and the 30 million in sales with no cash buys that lead us to where we are though.

Edited by tomphil
Link to comment
Share on other sites

2 hours ago, PLJPB said:

Another £3.625m pumped in by Venkys on 21st March per companies house.

That's a total of almost £21m in the last 12 months!

 

Total Venkys London share capital now stands at £147m - a very costly venture for the Raos.

You say the money has been 'pumped in' but what has actually happened is that they have issued new shares to the value of £3.625m

I don't understand how these things work but by issuing shares does that mean they can always get this money back by selling the shares or taking dividends. It's not like a free gift and their money has gone forever.

Presumably, as long as the total assets of the club are over £147m ( Ewood, Brockhall, players ) the money is just an investment and could, in theory,  be retrieved by selling assets.

Where do the Bank of India come into it - is the debt to them completely unrelated to any share issues ?

I've never understood it. Are they currently being totally benevolent or are they just moving money around?

 

 

Link to comment
Share on other sites

3 hours ago, tomphil said:

Their core company share price has gone through the roof in recent times so a nice diversion of some profits and another bit off the tax bill.

These days it seems to be being put to good use for maybe the first time in actually building something instead of plugging holes, bills need paying after all and it's only expensive if you can't afford it.

Let's not forget the few years minimal investment and the 30 million in sales with no cash buys that lead us to where we are though.

Do you work in finance or have a finance background? 

Link to comment
Share on other sites

23 minutes ago, Crimpshrine said:

You say the money has been 'pumped in' but what has actually happened is that they have issued new shares to the value of £3.625m

I don't understand how these things work but by issuing shares does that mean they can always get this money back by selling the shares or taking dividends. It's not like a free gift and their money has gone forever.

Presumably, as long as the total assets of the club are over £147m ( Ewood, Brockhall, players ) the money is just an investment and could, in theory,  be retrieved by selling assets.

Where do the Bank of India come into it - is the debt to them completely unrelated to any share issues ?

I've never understood it. Are they currently being totally benevolent or are they just moving money around?

 

 

Ewood, Brockhall and the players combined wouldn't remotely approach 147 million. Certainly yes they could call in that debt at any moment and considering their untrustworthy reputation it can't be ruled out. Logically though they aren't likely to get the money back and the best way of recouping anything significant would be via a return to the EPL. Something which they aren't even close to inspiring confidence for. That's why I've said in the summer if they put out a competent budget that they should sack an unconvincing manager. If they don't (and replace him with someone who's achieved multiple EPL promotions OR gamble on an up and comer) then can you really see anything better than a relegation battle or midtable at best? That's if the club even gets promoted this season though my confidence is still good in that regard. Please note I'm not expecting a second consecutive promotion immediately but the sooner the right building blocks are in place the better. There can't be mistakes or hesitation.

Of course the other option is to write off the debt and sell the club for a few million at most. You can't predict these people but judging by this season they aren't planning to do that imminently. Of course sometimes there's the likes of Jack who will write off an entire debt with no conditions attached. Can anyone really trust them to do that?

The Bank Of India are clearly content with whatever facility (overdraft, etc) is bring provided at the moment and promises made by Venkys. Barclays were not happy hence why they changed to them in the first place. The Bank Of India of course were probably familiar with them already because of their core business. They obviously feel that Venkys can manage the financial situation.

Edited by Vinjay17
Link to comment
Share on other sites

The club's annual accounts came out this last couple of weeks. More of the same stuff as usual but they said that the overdraft facility with the Bank of India expired around February/March but that they were confident of it being renewed and even if it wasn't they would be able to fund the club.

I don't know what 'arrangement' they have with the Bank but it seems to keep on rolling on every year with no end in sight. Although the £30 million in player sales and slashed wage bill might have helped win round the Bankers.

With business seemingly booming back home I doubt they're losing much sleep over it

Venky's India: Shares of this company soared 28 per cent in the past week. The company is expecting strong operational performance till May or June. "When you are adding new products and expanding your core business and seeing the realisation improving, the shareholders should be more confident about the quality and services," the company told ET Now in a recent interview.
 

Edited by JHRover
  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.