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Venkys London Ltd accounts


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If only they had tuned up on day one and told John Williams and Tom Finn that they were going to invest £250 million pounds over the next 7 years (in addition to all the TV income) and charged them wi

exemplary adjective/ ɪɡˈzem·plə·ri/  extremely good of its type, so that it might serve as a model for others:   I don't see any other club owners aspiring to the Venky model. I w

I have done these summaries for a few years so I will do one again, but most of the relevant information has been covered here.  Of course, I do accounting related work 250 days a year already and the

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11 hours ago, TBTF said:

Exactly Stuart . 
and in what world do we think we can run up losses of £35million in 2 years and then contain to £4million in the third year ?

 So yes , the plan was shot to pieces on 23rd December live on Sky.

 

I suspect Dack will be back in time for the next transfer window

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11 minutes ago, OldEwoodBlue said:

Watch this space.

They are putting Suhail on furlough and selling the abandoned Neville mansion to pay the weekly staff.

Is this true or are you speculating? 
If it’s the latter, please can you make it clear, as we don’t want the site getting in any bother from a legal perspective.

Ta.

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11 hours ago, TBTF said:


and in what world do we think we can run up losses of £35million in 2 years and then contain to £4million in the third year ?

 

For clarity - FFP losses are not calculated simply by adding up the combined losses in the P&L - the FFP calculation allows expenditure on items such as infrastructure, academy, ladies team etc & so on. The FFP figure discounts these expenses. That said, we must be sailing pretty close to the wind and post-COVID football finance I suspect is going to be a fundamentally different place. Our season in League One also muddies the water because SCMP rules apply there not FFP.

If Venky's core business takes a hit the discretionary funding of Rovers may well come under the spotlight. Many "benevolent funder" owned clubs will find themselves waking up with a start over the next 12 months, Derby County for one.

Watch what happens to TV companies for a lead indicator - if the Sky/BT subscriber numbers take a hit because people have lost jobs &/or found another use for the time/money then the PL gravy train is over. That will impact all the way down the food chain but those lower-division clubs who are breaking even on today's model (i.e. not reliant on TV, gate money covers the wage bill) will be best placed to take advantage. The likes of Rotherham Utd & Accrington Stanley may well be the winners.

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14 minutes ago, Herbie6590 said:

Our season in League One also muddies the water because SCMP rules apply there not FFP.

 

This is not true. I pressed Waggott explicitly on this point and he confirmed that season IS included under FFP.

SCMP applies whilst you are physically in L1 but as we are in the Champ that season is calculated under FFP rules.

 

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43 minutes ago, OldEwoodBlue said:

This is not true. I pressed Waggott explicitly on this point and he confirmed that season IS included under FFP.

SCMP applies whilst you are physically in L1 but as we are in the Champ that season is calculated under FFP rules.

A ridiculous way to govern football. Different financial rules applying in different ways over three different categories: PL, Championship and L1/L2.

No wonder football is in such a mess.

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4 hours ago, OldEwoodBlue said:

This is not true. I pressed Waggott explicitly on this point and he confirmed that season IS included under FFP.

SCMP applies whilst you are physically in L1 but as we are in the Champ that season is calculated under FFP rules.

 

Well...yes & no...it depends on precisely what question you asked & perhaps also what question he thought you asked...

A relegated club from the Championship is as you say still bound by the FFP rules until it has confirmed that it was compliant under that regime i.e. its accounts are signed off I guess. Once that obligation is discharged, then the following season’s performance in L1 is calibrated using SCMP. If the club stays in L1/2 no problem.

Rovers make for an interesting case study therefore by dint of having won promotion in one season. Rovers rolling three year results include one season under the auspices of SCMP but of course now, we are subject once again to FFP.

I attach the regulation from the EFL website which interestingly doesn’t quote the case of a team promoted from L1 to the Championship...perhaps because the EFL aren’t sure how to handle it ! Call me a cynic.

it seems innately unfair (& possibly illegal) to presume Rovers would be charged with breaking a regulation that didn’t apply to them for one season & as that season was especially costly, m’learned friends could I’m sure have a field day with it. 
 

That we are talking about Finance & law rather than football is of course the real tragedy here...?

0113D552-52EB-4006-8114-5677C1D3AA33.jpeg

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Coventry don’t seem to have looked back since he (and Mowbray) left.

We know all to well how easy it is to work with the Raos. Be a ‘nice man’ and keep the peasants away from their pitchforks seems to be the only requirement.

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