1 hour ago, Neal said:

Rovers pushing an article for Mullarkey Mathews... They're probably angling as Dolans replacement so they don't have to spend. 

Probably trying to sell him so they don't have to spend

1 hour ago, wilsdenrover said:

The owner’s words (within Venky London’s accounts) suggest they hope one day to get it back. 

The owner’s actions (ever since they darkened our door) will almost certainly ensure they won’t.

Thanks, You usually have the answers. 

Is it possible that to declare the funds as shareholder loans they have to state in the accounts that they want to get the money back - otherwise it would be just making use of better tax terms ie false accounting - surely they would never do that !!! 

5 minutes ago, wilsdenrover said:

Nope, that’s a different figure.

I’m referring to the money owed to group undertakings.

Also, in addition, see the below from Venkys London accounts:

OK, fair enough in that respect - I know you have a better knowledge of all this than I do, but declaring shareholder loans rather than equity investment is really just for the tax advantages I would guess?. In reality I don't think the owners are expecting this money back or treating it as a debt. It's just money that was needed for running costs.. The club has no loan repayment plans as far as I know.

8 minutes ago, joey_big_nose said:

Well the money Venky's advance us does appear on the balance sheet as debt... £147.8M and counting. Obviously there is no way we can pay it back. But it is there in black and white (and highlighted in my yellow).

 

https://swissramble.substack.com/p/blackburn-rovers-finances-202324

I am not debating the fact that Venky's fund the club and it has cost them a fortune but the accounts don't mention anything about debt. Just profit and loss. 

Just now, wilsdenrover said:

The club has plenty of debt to the owners - £134 million in the last set of accounts. 

Whether they’ll get even a penny of that back is an entirely different thing. 

Are you referring to the share allotments?   There is no loan agreement saying anything needs to be paid back

1 hour ago, JBiz said:

I agree, he also seems to want the club to be cutting off one’s nose to spite one’s face.

If the future is a fan owned or least local investment shared with that, then Rovers need to be in the realm of being fiscally safe, not adding more debt to the owners, who seemingly have a ridiculous expectation to get back their investments.

 

The club has no debt to the owners.

The only money the club needs to pay to the owners ( via a subsidiary) is rent on the training ground.  

The money they have spent over the last 15 years are simply running costs, not investments. 

33 minutes ago, ruggles1995 said:

I don't know about anyone else but I don't see losing Brittain as a big deal. Id say hes average at best. Apart from crossing a football hes not exactly been outstanding. Anything between 3-5 mill would be good business I think. 

Good business for Venky's - money straight into their pockets.

Good business for Pasha, Gestede and Owen - bonuses on the way.

Good business for the team ? - Absolutely not 

33 minutes ago, TimmyJimmy said:

Deleted.

Why you deleted that I don't know. The most incisive post on here for a long time.

16 minutes ago, TimmyJimmy said:

Winston Churchill once described Russia as a riddle wrapped in a mystery inside of an enigma.

Kind of sums up my thinking about the Venkys.

When the Walker Trust engineered the sale to Venkys I understood from the theories I read on this board and other places that Rothschilds, the investment bank and advisory, were intimately involved in completing the sale.  I was encouraged by that as I know the bank and some of the family and thought at the time that with their help we had struck gold when Venkys were confirmed as purchasers.

Perplexed by events since then I started digging a little.

I can find no confirmation that Rothschilds were involved but then the trust didn't disclose the M&A advisors, due diligence firms, or escrow agents.  The absence of a named bank therefore suggests the deal may have been privately financed or structured through corporate counsel and internal capital, rather than via such a high-profile investment bank. So how did Venkys arrive on the scene. Bit of a mystery.

Then there's their wanton disregard, even the perception of sadistic cruelty, towards the club. This just doesn't align with who they appeared to be.

They support multiple philanthropic ventures including hospitals in Pune, Hyderabad, Hosur, and Nellore, mobile clinics serving villages near Girinagar, the Venkateshwara school, a leprosy eradication programme covering hundreds of villages (supported by Emmaus of Switzerland), building temples etc., etc., seem like decent sorts.

How do you square that circle with the treatment of us. They're a bit of an enigma.

I don't think they are true billionaires, rich for sure but not billionaires in the sense of USD 1,000 million +. Take away what they need to run their businesses (much of their wealth is tied up in privately held subsidiaries which makes it hard to estimate that but they don't appear to have much if any long term debt so what funds they have seem consumed by their businesses.  Divide whats left by the brothers and sister and then consider Rovers gobbling up 20 million ish per year and ... a bit of a riddle.  How can they sustain that for 15 years?

They have zero interest in football, they are never in the country, they don't leverage the prestige of owning us in their marketing. We're like their crazy grandma locked in the tower that no one talks about.

Was the purchase money theirs. What's with the links to Switzerland. Kentaro?

Are they able to sell even if they wanted too.

We all want to see the back of them but are they really pulling the strings?

Don't know, just asking the questions.

The current and perpetual transfer window farces added to the above leave an awful stench in my nostrils. Things just don't feel right do they.

Are they somehow locked in and can't get out.

Exactly, Venky's continued ownership makes no sense whatsoever on the face of it. The fact that an (ex)Kentaro employee is running the club is suspicious enough in itself.  With all the hassle of the court cases and seized assets in India why wouldn't they sell ? There are a number of people coming to the same conclusions.

1 minute ago, JBiz said:

This shit just kills me. Why is it so hard to just acknowledge that the owners are negligent?

I acknowledge that the owners are negligent.  They let agents run the club for them.

58 minutes ago, JBiz said:

What should it be relying on;

1. Turnover? People won’t come till we change owners or are promoted

2. the owners investment? We want rid of the owners…

Answers on a postcard,

If the owners took an interest, invested in new players when the FFP position was/is favourable ( last season / now ), when the chance of the playoffs was there ( January )  and actually showed some ambition then the fans would come back, turnover increase. We could get promoted and that would pay the wages. 

It's not going to happen but you asked for an answer. 

How do other clubs pay wages without selling all their best players ? Answers on a postcard.

1 hour ago, Tomphil2 said:

Yet i'm absolutely convinced if there was a contract put in front of Brittain 6 months ago he'd have signed it.

This is the problem time and time again and you can only conclude they don't give a shit or they are nudging them.

Exactly. The lack of contract negotiations is a conscious decision to make other clubs aware that players are available.  Anyone worth a bob or two is being put in the situation where they are effectively being encouraged to look elsewhere. It's the current model - sell and replace with cheaper options.

The only remit Pasha has these days is to save Venky's money.   

Nothing against the colour as such but probably a standard Macron shirt colour and somebody has come up with a dubious link to the town crest which nobody would have spotted if they hadn't mentioned it. Nothing 150ish about it.

And a white rose !! Very forgettable shirt 

10 hours ago, M_B said:

It's such a contradiction on here, the same message board has a daily barrage of people saying they won't be back until Venkys have gone, and urge others to do the same.

Then we have the never ending conversation of why ticket sales are so low. 

I am actually amazed that ticket sales are so high after 15 years of occupation. 

I notice that another affidavit was submitted on Thursday and some 'documents' submitted on Friday. So it is not following the usual or expected pattern. Maybe the first affidavit was not accepted ? No official news from the club or evidence on companies house that funds have been received as recently.

A job for @wilsdenrover to investigate ?

16 hours ago, wilsdenrover said:

One of the conditions of Venkys being able to send money over is an Affidavit (regarding the use of the funds) must be filed with the court within one working day of the funds being remitted.

An affidavit was filed  on the 16th June…

Can we be certain that the affidavit is related to a payment ? Nothing showing on companies house regarding a new share allotment.

There are other affidavits listed against the case which don't coincide with payments and some that do.

29 minutes ago, 47er said:

Certainly well done to those who put in a great effort. Superb idea.

But I'm not convinced they'll sack him, they are too stubborn and proud.

Nor am I convinced that sacking him would mean the end of them---for the same reasons.

But it would be some sort victory for us  to celebrate if only short -term.

I think it'll be the financial situation that will finally do for them and they'll clear off when we are in a lower division and crowds have dwindled further.

More misery to come I believe.

 

 

I don't think they will sack him either but I know he really flaps under pressure and hates publicity. He may decide he's had enough if he gest plenty of flak publicly.

12 hours ago, Forever Blue said:

Are there any towns or villages saying ‘Venky’s Out’? 
 

Getting Pasha out, like getting Waggott out, will achieve the square root of fuck all.

Totally different situation. Waggott was due to go soon and had very little recent contact with the owners and very little influence over the past 12 months or so. I think Venky's lost faith in him a while ago.

Pasha is the one who feeds all the false positives back to India. They rely on him totally. He is the one who is driving the cost cutting, aiming to sell any asset worth a few bob and telling the owners all will be well.

They will not sack Pasha but he hates any public exposure. If we can keep up the pressure on him personally to a point where he decides he has had enough and he resigns, it could mean Venky's would have to become more directly involved and possibly make them realise what a shit show it really is. They may not care too much, but getting rid of Pasha would cause far more problems for them than getting rid of Waggott.

1 hour ago, davulsukur said:

Unless it's silly money, purely out of spite, I could see us just flat out rejecting any bids made by Derby whilst JE is there.

Venky's wont care,

They will take anyone's filthy lucre if saves them sending funds over.

24 minutes ago, RevidgeBlue said:

I know you're getting very excited about the possibility the Indian Court will throw the book at Venky's but if anything the investigation against them seems to be tapering off not gaining teeth.

The efforts of the ED to prevent funds being transferred have been over-ruled twice and the bond has been reduced from 100% to 50%.

Not much  to suggest anything other than the current state of affairs and after that their ownership dragging on fairly interminably.

The current state of affairs is that Venky's are not sending any money. 

If they do decide to send more money, the more it will cost them in bonds that they may never get back. 

Venky's will be getting to the point where they desperately want a conclusion to the investigation or they will be forced into a corner. The last thing they want is for the current situation to drag on.. 

9 hours ago, M_B said:

Obviously , if you're paying many millions for players then you can guarantee quality .

At the level Rovers and many others are at, you're just as likely, even more likely, to pick  up a good player on a free. Josh Murphy is a perfect example, whether the recruitment department is up to it is another matter,I'll wait and see how Gestede does, 

 

We have billionaire owners and massive FFP leeway. Why aren't we pay millions of pounds and guarantee quality?

Venky's out.

Not a dig at you M_B because we have nearly all been battered into submission by 15 years of occupation.

20 hours ago, Forever Blue said:

My view of what? The court case deals with a very specific issue that has nothing to do with Rovers.

The ED investigation will be concerned with all Venky's activities of which Rovers are a part. Rovers get mentioned regularly in the court cases. Even if the initial trigger for the investigation was not Rovers related, they still need to go to court every time they need to fund the club. See below from last week's case.

 26.05.2025 O R D E R 1.

The present application has been filed by the petitioner seeking that the petitioner be allowed to remit a sum of GBP 4,850,000 to its wholly owned subsidiary, namely Venky’s London Limited, situated in London, United Kingdom. CM APPL.23948/2025 (for directions) 2. It is submitted that the petitioner has received a communication dated 26.03.2025 from the Chief Financial Officer of Blackburn Rovers Football Club, which is owned by the abovementioned wholly owned subsidiary of the petitioner.