PLJPB

A 15 year long transitional state!

Absolutely nothing would be my guess.

Agreed. I posted earlier about this on the Trust thread suggesting they ask the club about this

Another post with more information has just been posted over on the Plot thickens thread

The finances chap at the trust might want to have a look at this before the next meeting with the club. My initial guess is that this venkys company which was set up to buy the training ground has now borrowed money against said asset.

Well that was a short appointment. Or just another administration cock-up?

Wtf Pears

Did you think that man was Mowbray?

But surely its the role of the ownership to ensure/enforce accountability?

I think the point is that it is Venky's fault because they haven't sacked him.

And you believe that Venkys are going to do this?

The usual summer cash injection has just been announced at Companies House. £5.250 million into VLL ltd which will presumably be loaned to BRFC ltd as previously done. Total spend by the Rao's on their plaything now stands at £202 million! There must be cheaper hobbies!

Unfortunately this is technically not the case. The share capital conversions are in the VLL company. Within the BRFC company it is all loans. I.e. VLL can call in the loan and demand payment from BRFC. Of course that's not to say that the Rao's ever will do this but they retain the legal right to do so. I've just checked back and the last filed accounts for BRFC show £127m owed to VLL at 30/06/19 within creditors payable within 1 year. There will have been much more loans since then with no share capital changes since then.

It certainly does. Another share issue of £5.334 million on 23rd January making a staggering total of £180 million spent by Venky's on their 'hobby'.