Agreed. I posted earlier about this on the Trust thread suggesting they ask the club about this

Another post with more information has just been posted over on the Plot thickens thread

The finances chap at the trust might want to have a look at this before the next meeting with the club. My initial guess is that this venkys company which was set up to buy the training ground has now borrowed money against said asset.

Well that was a short appointment. Or just another administration cock-up?

Wtf Pears

Did you think that man was Mowbray?

But surely its the role of the ownership to ensure/enforce accountability?

I think the point is that it is Venky's fault because they haven't sacked him.

And you believe that Venkys are going to do this?

The usual summer cash injection has just been announced at Companies House. £5.250 million into VLL ltd which will presumably be loaned to BRFC ltd as previously done. Total spend by the Rao's on their plaything now stands at £202 million! There must be cheaper hobbies!

Unfortunately this is technically not the case. The share capital conversions are in the VLL company. Within the BRFC company it is all loans. I.e. VLL can call in the loan and demand payment from BRFC. Of course that's not to say that the Rao's ever will do this but they retain the legal right to do so. I've just checked back and the last filed accounts for BRFC show £127m owed to VLL at 30/06/19 within creditors payable within 1 year. There will have been much more loans since then with no share capital changes since then.

It certainly does. Another share issue of £5.334 million on 23rd January making a staggering total of £180 million spent by Venky's on their 'hobby'.

For anyone interested, below are all the cash injections into Venky's London Limited made since it was set up as the parent company vehicle to purchase Blackburn Rovers Football Club. It starts with the initial £35.6m which off memory was £24m to pay to the Walker trust plus another £11m to cover the overdraft at the time and shows regular payments to keep the club afloat to a current grand total of £174.7m. My understanding is that all of this cash has subsequently been loaned from VLL to BRFC at a zero interest rate. £ Issue £ Cumulative 04/05/2011 35,610,000 35,610,000 26/09/2011 3,460,000 39,070,000 10/04/2012 125,000 39,195,000 21/01/2013 24,388,000 63,583,000 12/05/2014 21,039,575 84,622,575 14/10/2014 15,912,500 100,535,075 31/07/2015 22,337,500 122,872,575 19/03/2016 1,085,000 123,957,575 09/09/2016 2,100,000 126,057,575 28/02/2017 666,000 126,723,575 17/05/2017 5,794,156 132,517,731 29/09/2017 6,653,000 139,170,731 11/01/2018 4,700,000 143,870,731 22/03/2018 3,625,000 147,495,731 25/07/2018 4,750,000 152,245,731 16/11/2018 4,812,500 157,058,231 28/02/2019 6,550,000 163,608,231 28/03/2019 1,500,000 165,108,231 01/08/2019 9,625,000 174,733,231

Good point that I hadn't thought of. We would have to get a copy of the parent company accounts to be sure. I don't know whether they are publicly available. If you're correct then they would only suffer a loss if they sold the club for less than the £165m.