Herbie6590

Pitch me an idea…😉

An Emergency What Now? Show to handle the fallout & falling out following the departure of John Eustace to Derby County. https://www.brfcs.com/articles/4000-holes-podcast-what-now-show-s3-e21/2136

Listen to the 4000 Holes one tomorrow morning...🙂

Or...the club has let down the manager that fought the players corner when he tried to get them new deals. When those weren't forthcoming & then they signed a 26th player he said enough is enough...

"significant investment..."

The yellow ticker of doom...

Pride Park to burn down, collapse, fall into a sinkhole...smothered in lava etc & so on...

Well all things are possible theoretically....but...

We covered this on a 4000 Holes Rovers Inc podcast I seem to recall (?) - adminstration is usually used by the bank when they want to stem their potential losses & have to effectively take the owners out of the picture. The bank has to hold a debenture containing appropriate clauses to be able to do that - as you say, the club's debt is internal so this doesn't apply here. The other situation is where the directors of the UK businesses recognise that they are potentially trading insolvently & in order to prevent themselves from becoming personally liable, they appoint receivers. Again, unlikely as V's will in all probability send over just enough cash to stop insolvency & keep control as you suggest...

The old Tommy Docherty joke about promising to the chairman to get them out of this division...

He will end up signing an NDA & the club will spin the family line...

On Twitter...

Does the Eustace buyout money get paid in instalments? I demand to know…

Reading haven’t…yet.

Is that you Mr Savage?

Bury, Reading, Blackpool spring to mind…

That’ll be me 😆 I used to live in Sutton Coldfield & worked in Derby - I’ve been telling lots of people how easy the commute is 😆

I’m gonna have to keep posting this every hour or so aren’t I?

That’s the question for which I have absolutely no answer…it makes no sense other than some kind of subjective wish to avoid reputational damage of being seen to walk away from a failure. 🤷‍♂️

This crops up on here from time to time but if we are rational/factual for a moment we can discount it TBH. 1. Tax relief - it has been mentioned on here historically (by a former accountant) that there is no reciprocal tax arrangements between India & UK to allow UK losses to be written off against Indian profits. The tax write off angle therefore doesn’t work. 2. Offshoring debt - not sure what this means TBH. The UK companies are part of the consolidated group. When the group accounts are prepared, BRFC is included in those numbers. The vast majority of the debt incurred by UK companies is intra-group - it’s one company lending to another - how does the fact that the debt is owed by a subsidiary in the UK benefit them? 3. Venky’s bought a PL club - if they didn’t want a club in the PL - why not just buy someone like Wrexham or similar ? 4. Why would they not want the income that comes from being in the PL? It makes zero sense to suggest that they are so cunning they’ve worked out a mechanism that not having £150m coming in is better than actually having £150m coming in 5. Venky’s aren’t offshoring their money - they have bought assets in the UK. They slipped up by not accurately declaring the nature of some of those assets. The UK businesses don’t generate money, they absorb it. There aren’t great cash deposits in the accounts of the UK subsidiaries. The UK subsidiaries would be insolvent if cash wasn’t injected. Sometimes we can go down rabbit holes looking for complicated explanations of something much more simple. My take - they are so wealthy BRFC is a rounding error in the annual accounts & creates barely a ripple. They didn’t understand what they were getting into. They took lousy advice. Made some terrible executive (& managerial) appointments. Eventually they decided to introduce some rigour & they set a budget to be adhered to. They appointed trusted UK based staff to enact the budget. Enter SP & SW. SP & SW are carrying out the wishes of the folks who pay their generous salaries - namely “stay within the budget…control costs…don’t come to us for money except if there is a danger of insolvency/administration…” Venkys set the parameters…SP & SW carry out their instructions and act as a firewall. Thst’s why changing CEO changes nothing. We need new owners with a new vision, a commitment, a passion for the club.

On the list 😉

That’s Damien Duff you’re describing…😉

“Transfer fees don’t all come in at once…”

They’re a massive organisation - be more troubling if they hadn’t…