phili

The LT ban would say they are very thin skinned and don't take kindly to any level of criticism whether justified or not.

In the original case Venkys asked for permission to send funds for transfers and the judge declined, saying the courts would only permit the sending of essential funds to maintain their investment. This is why they have to send a detailed audit of what invoices the funds are being used for, to ensure no funds are used for anything other than essential funding to ensure the business does not go bust.

The guarantee is in place due to the ED not wanting Venkys transfering all their cash overseas and not being able to pay the fine. They have already had $7m of property assets seized in India to pay for the investigation into them. I am pretty sure if they lose the case any guarantee funds they have placed with the ED already will be lost to pay part of the fine.

I am not sure he has that many morals. Within first few months got the person who brought him in sacked as we didn't need a director of football. Then had his assistant promoted into the director of football role. As most in football, he was in it for himself and what he could get out of us/make each year. There are rumours he had a very large bonus for retaining our championship status each year and a smaller additional bonus on top for getting into the playoffs or gaining promotion. Also convinced Venkys not to invest after winning promotion. The agent agenda behind the scenes was still here, just had his face above it.

Brockhall was state of the art when it was built but nothing has been spent on it's upkeep or maintenance since John Williams left or even improvements. The vast majority of the equipment etc there is still from Jacks time unless sponsors have paid for new TVs etc. Frost covers had to be purchased by the supporters group. We saw pictures last year of the steps and guard rales crumbling. It's just the same as Ewood just the bare minimum possible. Hopefully Venkys are gone soon and new owners come who invest because if things continue with no infrastructure investment in Ewood or Brockhall both will be crumbling away and we'll have to rebuild both in the next decade.

I always love how Waggot manages to spin himself out of his messes. He didn't play the game as we didn't have insurance cover for senior players to play in U21 games due to cost cutting measures and he refused to sign a waiver.

I will dig the link out for you tonight and post to the thread.

They haven't got to the being charged yet by Indian authorities apart from the house. The court case today was just an appeal to request permission to send funds overseas as it was rejected by Indian authorities. The result of the investigation and future appeals could take years still and while under investigation they need permission to send funds overseas. The default position is they can't, each time they ask for permission it is a new case and despite what Waggot says each request is reviewed independently and no president set.

The Indian tax authorities do not offer out of court settlements for Fraud and Money Laundering which they are being investigated for. When under investigation, Indians Individuals and Companies are not allowed to send funds overseas without permission. The Indian tax authorities have rejected permission and Venky's have gone to court again for permission to send funds. There is no possibility of an out of court settlement. Also the tax authorities have a 98% success rate when they charge somebody in India.

They are gambling, the case goes against them on the 20th and Ipswich will be offering £3m and not £6m. Also Ipswich apparently offered £6m immediately with no installments.

Good point, fortunately he wasn't.

Don't know, I really can't see us doing anything until after the court case on the 20th August.

Shockingly Duncan Ferguson deal was agreed pending Broughton approval on becoming Director of Football. Broughton met Ferguson didn't like him and moved for JDT. So Mercer was totally correct.

To be honest administration might be a lot preferable speed wise. If I was buying us I would do the deepest and most in-depth due diligence process I have ever done on a company and that would likely take 6 months. Buying it from the administrators there is normally a time limit and you can include indemnities etc . I would say as a buyer I would want to do a deal with the administrators and at least they will respond back.

Although if Nixon really does have the inside track again, it means a certain agency and agent are back advising Venky's.