I can't work that one out, as no one left when we were relegated to League 1 and we added a number of players such as Whittingham and Dack. Looks like most players had 40% wage cuts in their contracts. By the looks of it we really need to get turnover back to £22m a season and develop and sell a £10m player asset per season.

£16.8m for both according to the accounts

According to the accounts for the 2017/2018 season our wages paid was £16.8m as first team is around 90% of that it was pretty much £15m.

I doubt the collateral has anything to do with Rovers, the SBOI is the Venky's bank for all of their companies and personal wealth management. If any collateral was attached to Rovers or the holding company it would be registered at companies house. SBOI have provided the mortgages on the prime real estate outside of Pune which has been used to fund Rovers. That is the collateral, and is probably worth more than the £200m they have invested in us so far. The mortgages are being paid back through with Venky's personal or company funds. The only issues we have to worry about is if SBOI do not renew the overdraft or call it in. As we are still in buisness and not in administration as well as having £4m injected a few months ago, we are ok at the moment.

At the moment in L1 or L2 clubs have no income so not sure any of them want to get round it. From what i have heard so far, clubs are looking at cancelling contracts and renegotiate with who they want to keep etc. It will be interesting with the PFA stance on all of this, as if they are not agreeable and fans are not allowed back into grounds in the next 6 months, then potentially no L1 or L2 clubs will exist. Championship there will be some that want to get round it if a similar

£15m

Reduce the input most L1 and L2 owners have to put in to around £2-4m for the season which is doable. Problem for the championship is that most owners of a championship clubs are looking likely to have to inject the club with £20-40m of funds at the same time most of their businesses are struggling. With this backdrop could see some championship chairman wanting a squad budget of £10-15m a season for over 21s. Would be a way of lowering all player salaries relatively easily and the PFA having no option but to accept.

I think McCarthy will shortly come back in favour with most championship chairman, as everyone will be having to reduce their budgets this season. Afteral at Ipswich he reduced the player wage budget by 60% and still kept the challenging for the playoffs each season. The problem is the fans got bored of it and wanted a change.

If we had got his strike partner Sam wanted in Robert Lewandowski, what a forward line those 2 would have been.

The only debt Rovers are liable for at the moment is our £15-20m overdraft. Remaining £200m from Venky's has been put into the club as share capital. If we went into administration, Venky's would lose £200m. Our Administrators would need to sort out a new banking facility and pay the old overdraft with player sales. I am not sure what the overdraft is secured against, possibly season tickets sales or media income? The above is why Administration won't happen. More likely for Venky's to sell us for £20m, or something similar to a friend.

Venkys London Ltd Accounts, which is the holding company for ourselves.

I think this is the season we have to get promotion, the £15m share issue in the next few weeks will pop their total share issue on Rovers to £200m. At that point we have to start to be looking at being promoted this season. At some point they will start listening to the accountants in VH Group or have an interest they are i all passionate about investing in and at that point our time is up.

If you think about it from 01/06/20 to 01/06/21 they are likely to have had to do share issues to the tune of £30m to keep the lights on. With that £30m you would have a £2-3m transfer budget and a wage budget no bigger than this season. If you want more you will need to fund from player sales. With that sort of funding to keep the lights on i would want promotion next season as a guarantee of funding.

If you look at this year according to Venky's London Limited they have given the us £19m for the past season, with £4m being added in 2 months ago to cover Covid Costs. Normally they add £9m in August/September and £5m in January as our lump sum injections each year. So we would expect a share issue at some point in the next few weeks to fund things. With no season ticket income at the minute, we will need a cash injection of £15m in the next 2 weeks followed by £9m in January to keep us at the same level of funding as this year.

Last season he was available and we went on our worst ever losing streak. I seem to remember Armstrong and Graham also being available, as well as Reed etc so not sure you can say anything about us getting into the playoffs with a fit Dack this season..

What normally happens with a loss making business is the following: 1. Auditors will ask the company for a forward projection for the next year. 2. If still loss making, auditors will ask the shareholders how they will fund losses to profitability or for the next year. 3. Auditors will then ask for written confirmation from shareholders that they will cover the losses as well as evidence of funds. 4. If Auditors are happy with answers and evidence of the above they will sign off the accounts. If they are not happy or evidence has not been forthcoming then there is a set procedure to follow. That has not happened so we can assume the auditors are happy and have approved the accounts. This does not mean they have to fund the company for the next year as there are lots of wriggle room out of it. But during a transfer window there is absolutely no chance of either Venky's or the Bank of India placing us into administration.

Without the statement from VH Group committing to funding for an additional 12 months, the accounts would not be approved by the auditors, without this the business would thus no longer be classed as a going concern and the business would have to enter administration. As a director you have a fiduciary responsibility to act in a certain way.

Possibly we need a few poorer characters to shake things up in the dressing room abit?

It's a good point that we don't have any leaders in the side at all now. This is the one summer where we can pick up a lot of talent and players on free transfers or relatively cheaply and we really need to take it. I noticed that Maddison was released by Peterborough a few weeks ago. I am not sure how he did at Hull but i always thought he had good potential to step up to the championship.

I must admit up until Venky's took over we have really always had a good goalkeeper and a settled back 4 with good defensive options on the bench. Which is what is making our current predicament even harder to take. I admit i would take a Darren Peacok or Christian Dailly at the minute to improve our CB positions. We talk about how we improved the CB position last season and started playing out from the back, but we still conceded 60+ goals. So not really an improvement. Next season i still think we need at the minimum 2x GK, 2x CB's who do the basics well, and probably 1x Leftback, a winger or 2 and probably 1 CM and a new CF.

The VH Group accountant will have given the auditors confirmation of continuing to fund us, otherwise we would be in administration at present. I would still expect some player sales this summer as there is still no word on FFP relaxation for the season from the EFL.

There is huge potential with us. We have commercial opportunities we have never looked into, an academy and training facility that is one of the best in the country. We would need to have some investment into Ewood, as that seems to have been neglected quite a bit in the past few seasons. Once we get into the Premiership, we can comfortably increase expenditure by £30-40m a season and be profitable to the tune of £5-10m a season, paying back who ever buys us within 3 seasons. It would all come down to whoever buys us putting in place the right manager and structure to run the club but once in place it is huge potential. Have a promotion push and we would probably add 5,000+ onto the gate and we would probably have a good 15,000 to 20,000 season ticket sales once we are back in the premiership with new owners.

That is true but at least it's a start. I bet Tony would have loved Paul Warhurst and Chris Sutton.

The good news is we are being linked to players in the positions we need

Still think i would prefer Cunningham. Just he would require a fee and by the looks of it we are trying to do the defence as cheaply as possible.