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Rovers' finances

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13 hours ago, philipl said:

And I will say thank you for this latest £6m.

For without these capital injections from India we would be Bury.

Without these tits I'd say we might be more burnley dare i say it.....

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1 hour ago, philipl said:

Probably as good as anywhere to stick this but both the Issa Brothers (EG) and Boparan (Two Sisters) are featured in the FT today as having serious corporate governance concerns.

The Asda take over is by the Issas personally and the Hedge Fund they work with, not by EG whose auditors resigned yesterday.

Still heads in the sand by most over Venkys.

There is zero realistic alternative even in people's dreams as far as I can see.

Apart from suffering the same fate as three northern towns just to the south of Blackburn..

Don’t sell the club so short.

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7 minutes ago, K-Hod said:

Don’t sell the club so short.

I don't think he's selling the club short. It's generally acknowleged that the present global economic situation will make finding new owners for clubs very hard.

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51 minutes ago, Mashed Potatoes said:

I don't think he's selling the club short. It's generally acknowleged that the present global economic situation will make finding new owners for clubs very hard.

The fact they seem to over-value what they own, and a few years ago were rumoured to be wanting most of the money they have lost on Rovers back if they were to sell, have always made finding new owners for the club very hard.

 

 

 

Edited by Hasta

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Just now, Hasta said:

The fact they seem to over-value what they own, and a few years ago were rumoured to be wanting most of the money they have lost on Rovers back if they were to sell, have always made finding new owners for the club very hard.

 

 

 

 

Yes, I think negotiations with them would be extremely difficult. People looking to buy a football club would likely want to look elsewhere.

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Even they will be very well aware that to get rid they would have to write of nearly all that 'investment'.

Best case scenario they'd get would be getting back their original takeover price and somebody taking on the overdraft. 

So them rumored to say they'd want all their money back means they've no intention to sell unless someone was daft enough to do that.  Bottom line is they don't need to sell and can afford even in this climate to keep funding it so anything else is irrelevant really.

Lets just hope now that some of that share capital keeps getting put in the right direction and it keeps coming in.

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2 hours ago, philipl said:

Still heads in the sand by most over Venkys.

There is zero realistic alternative even in people's dreams as far as I can see.

Apart from suffering the same fate as three northern towns just to the south of Blackburn..

As I understand it the financial picture at Bury FC was completely different to that at Rovers.

At Bury their former owner Stuart Day spent years piling up millions in external High interest debts secured against club assets and property. With League Two income, crowds and no profile the only chance they had was to bounce into the Championship where the media money would cover it.

Predictably Day ran out of time and sold them on to someone dodgy for nothing who had a history of liquidating businesses and with proper governance would never have been allowed to take control.

Compare to Rovers where almost all the 'debt' is to our owners, interest free, with repayment requirement and hopefully a realisation in India that the money has gone. 

If Venkys turn off the taps then we need someone else to bankroll the club. No different to the majority of Championship clubs in that respect. Would we find someone suitable? Nobody knows. 

But we wouldn't be vulnerable to winding up orders and debt demands like Bury unless Venkys broke the club up to try and recover some funds.

I accept and realise that Venkys are funding the club. Without them if nobody else came forward we would be in difficulties. But a stretch to suggest that we'd be Bury without them.

Their approach of funding the club with debt is the same as Davies used at Bolton, as did Fayed at Fulham and Abramovich at Chelsea.

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Are we sure this 6 million is not to cover the cost of fireworks, a live set by Akron and the cost of Barry and the gang to parachute onto the centre spot at Ewood in swathes of glitter, landing either side of the crowing glory of the 10th Anniversary party of the greatest success story* in modern football, the not quite as good as Wigan 3rd division trophy.

*I'm just going off the smoke blowing on social media.

 

p.s anybody know if the "Venky's" chicken on offer at the event will be from Aldi  ;) 

Edited by perthblue02

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2 hours ago, perthblue02 said:

Are we sure this 6 million is not to cover the cost of fireworks, a live set by Akron and the cost of Barry and the gang to parachute onto the centre spot at Ewood in swathes of glitter, landing either side of the crowing glory of the 10th Anniversary party of the greatest success story* in modern football, the not quite as good as Wigan 3rd division trophy.

*I'm just going off the smoke blowing on social media.

 

p.s anybody know if the "Venky's" chicken on offer at the event will be from Aldi  ;) 

Said all along that history would attempt to be re written at some point in time in regards to the takeover and their funding.

It's amazing how myth gets turned into popular myth on social media it's like politics. There are people out there now indoctrinating younger fans into believing half truths and lies. Then they in turn have a pop at those who lived through it, were actually there and have seen it in all its gory detail.

It's as bad as 'but Kean had us 2nd before fans drove him out'.

The Walkers & Trust ended up being villians of the peace yes but they'd been pretty bang on before that. The club itself might have been squeezed but it was in fantastic shape compared to were it is now. The Vs didn't swoop in and stop us going bust but that's getting to become the bullshit go to line now.

Edited by tomphil

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I am not re-writing that. And there is still more dirt from that time which never reached the public domain.

Thankfully the major players at that time are no longer on the scene.

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3 minutes ago, philipl said:

I am not re-writing that. And there is still more dirt from that time which never reached the public domain.

Thankfully the major players at that time are no longer on the scene.

I know you'd be the last person to do that my post is in regards to those who mentioned social media. What gets put about on facebook and twitter every time these share issues get an airing goes way beyond just giving them a bit of credit for trying to fix their mistakes.

Blatant spin a lot of it.

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On 14/10/2020 at 18:36, philipl said:

Easily £100million of that is sadly down to Venky's own mistakes which have cost the club, the town and the fans far more in psychic anguish.

But we are where we are and they are sticking by us and providing the club's lifeblood in hard cash.

And I will say thank you for this latest £6m.

For without these capital injections from India we would be Bury.

Nice wind up

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10 hours ago, tomphil said:

I know you'd be the last person to do that my post is in regards to those who mentioned social media. What gets put about on facebook and twitter every time these share issues get an airing goes way beyond just giving them a bit of credit for trying to fix their mistakes.

Blatant spin a lot of it.

Some of the shite on Facebook today has pissed me off no end. Seriously, some of the clowns on there would give Barry and Madame a tic a tape welcome to Ewood.

The ignorance is sickening.

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On 15/10/2020 at 09:39, JHRover said:

Their approach of funding the club with debt is the same as Davies used at Bolton, as did Fayed at Fulham and Abramovich at Chelsea.

It’s also what happened at Rovers under Jack. Directors loans for working capital during the year, converted to share capital every year.

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16 hours ago, LDRover said:

Some of the shite on Facebook today has pissed me off no end. Seriously, some of the clowns on there would give Barry and Madame a tic a tape welcome to Ewood.

The ignorance is sickening.

ticker tape

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Except the 100 million from Jack included buying the club and increasing its capital, building a training complex then an academy. Plus assembling a promotion, Prem winning side, manager and coaches.

Venky's first 100 million ?  Well about 70% of it has gone straight down the toilet.

Only since relegation to lge 1 have we seen anything at all of real difference from their money, long may it continue.  The next 100 mill could make all the difference 😎

Edited by tomphil

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