Crimpshrine

But it is only B if they get permission - that is why there is another court hearing. They were given permission to send funds in November based on the first court hearing and a full breakdown from Rovers as to what the money was to used for. They have to go through that process every time they want to send money.

They have never said funds can currently be sent from India.

Why would we go into admin if the club is sold ? We are in a great position to spend with respect to FFP - why would the club fold if we spend ? The trouble is the owners won't sell and won't ( or can't ) spend when they have the option to do either. NEVER blame the fans.

The purchase of Alexander House is part of the whole investigation by the Directorate of Enforcement which has led to the embargo on funds going overseas and the seizing of assets in India. I believe the August hearing is simply a request by Venky's to allow another payment while the investigation continues. The investigation could take a very long time. Nixon tweeted a few weeks ago that they have now sold Alexander House. I also heard it elsewhere. If they have used this money to pay any missing taxes and subsequent fines then maybe this will help their cause possibly ? It may paint them in a more positive light and get some assets released. That is all hypothetical as I have no idea what they have done with the proceeds - they may be using them to keep the lights on at Ewood ?

That is correct. IF they get permission to send money they must match it with a payment to the Government department to be held as security. That applied to the funds sent in November and will probably apply to future funding should they get permission to send any - unless the hearing in August has a different ruling to the previous hearing. It could be a different judge ?

The situation with funding and the court case was discussed at the MoU meeting with Steve Waggott about a month ago - this is when the vague 'should be no impediment' statement was made. There is no way the manager or newly appointed Head of football were going to contradict this at the AGM. The club has NEVER stated that funds can currently be sent from India. They have only stated that the owners can still fund the club ( player sales, loans etc ). The court hearing in August is simply Venky's asking for permission to send funds out of India while they are under embargo. It's not about the way they run Rovers but if they are not allowed to send money out of the country then the implications are obvious. Steve Waggott said to me personally that 'a precedent was set at the first hearing and Venky's were allowed to send funds in November so there shouldn't be a problem'. On that basis, my understanding is that he expects them to be able to send funds again after the next hearing - but that was before the hearing was postponed in March.

As various posters on here having been stating since March. The club statements are deliberately misleading. Jackson from the LET has fallen for it. The club was on the edge in January before Wharton was sold. It will be in the same position in August - unless the case gets heard and goes in Venky's favour.

and what is a 'caught case' ?

OK mate

From the court documents: VENKATESHWARA HATCHERIES PRIVATE LIMITED Vs. UNION OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF Next Hearing 20-08-2024 From Case Status “7. During the pendency of the writ petition, the Petitioner has filed the present application for fulfilling its commitments, regarding the payments to be made by it for Venky’s London Limited which is a Special Purpose Vehicle (SPV) holding 99.99% ordinary shares of Blackburn Rovers Football Club PLC (BRFC).”

They can fund the club via player sales and loans against the training ground etc. They can not send money from India until after the court hearing. The club statement doesn't say they can.

Suit yourself. Believe what you like. What's your view on climate change ?

The court hearing in August is at Venky's request in order to gain special permission to send funds out of India while under embargo . If they could send money now they wouldn't need the hearing. Not fake news, just facts.

WR's profit before tax to July 2023 was very slightly over £2 million. What percentage of that would they want to pay for a sponsorship deal ? It's not going to be a big figure.

He wasn't Waggott's mate

They can access this money. It has kept us afloat since January

I would say the fact that they haven't sent any is pretty good evidence. Also, from the LT in March "Venkateshwara Hatcheries Private Limited's application to push through funding for Blackburn Rovers has been delayed until August 20." "This latest delay further underlines how unsustainable Venky's current funding options are. There are serious long-term questions about how Rovers will be funded without an end to these sanctions imposed by the Indian government. £11.5million was transferred in November to provide the club funding until the end of January. Venky's wanted their latest application to cover the club until the summer and beyond.

So you believe they have been allowed to send money since March but haven't bothered ? OK

So why have Venky's sent no money since November 2023 ?

Waggott's latest statement via WATR is almost word for word what he said last time. He very carefully avoids the question of funds being sent from India - he only states that the owners have no impediments which will prevent them funding the club. This money will likely be coming from transfer fees and loans. Waggott has NOT stated that the owners can currently send funds from India. We all know that the court case is not about 'the running of the club' - that is quite obvious but it will affect Rovers ultimately. Over the past few years, FFP has always been sited as a reason why we can't overspend on new players. We are currently in a decent position with respect to FFP so we have an opportunity to splash the cash a little. hypothetical: Why not send funds from India for all the usual running costs and use the Wharton/Raya money to buy new players ? Probably because they can't send money from India!

I don't know. Maybe they are really really 'creative' ( I would say criminal ) or really really stupid. Either way not fit to own the club. Of course, the asset would not be guaranteed to lose money year after year if they actually took an interest. Promotion would recoup most of their losses.

He has some reasonably good games but there is always an absolute cockup just around the corner. We need a goalkeeper who is consistent and inspires confidence. Pears does neither.

For the same reason they declared a £7 million mansion for use in the poultry business rather than for private use - it saves on tax. Rich people like to avoid tax.

Talking of marketing, I contacted the club about 12 months ago and asked to be put on their email distribution list for all marketing/promotional communications. I got an email from the club saying thanks for my interest and that I would get all comms and offers going forward. Guess what, I've received nothing at all. I wouldn't buy a season ticket anyway, but they could at least try and persuade me!

Because he is Waggott's mate / client