43 minutes ago, Upside Down said:

They had to give a detailed breakdown of what the funds were spent on. 1.8 million was for agents fees.

So once they've provided a breakdown and receipts that the money has all been used as intended they they should get their other 11 million back.

Maybe that's where the issues with this latest postponement lie.

Surely once they sent 11 mill 6 months ago or whatever and 11 mill has gone into a govt holding account then once you have proved where those funds have gone in the last 6 months the bond is then released.

They wouldn't send their lawyers into court armed with a pile of documents for what was just down as a box ticking exercise and risk the adjournment if they were so concerned about the club going bust.

Seems to me they are very relaxed and probably under assurance from Waggot that there'll be enough in the pot and he'll rake some more in in summer and ensure further budget cuts to see us through.

Nice wage justifying bonuses earning work there by their CEO !

Where that leaves the team/squad/club i doubt even enters the equation as long as the lights are still on.

1 hour ago, miqaayil said:

Guys this is not about funds leaving india... their instruments are from SBI , State Bank of INDIA and constant Loss in investment which affects the bank and economy. So the gov is suspecting some kind of funneling which is why they ask to put equivalent amount in pledge before sending out more of SBI monies, which they won't ...i'm not a financial forensics expert but from what i understand this is in nutshell , The gov is worried SBI will write it off as bad debt... and they afraid to open books in UK incase of a sale which they must.

 

This is my only logical explanation after years of observing this , which explains why they brought their audit guy from HQ. Someone will be the fall guy...i'm only wondering who

I've been saying for years they funnel a bit of money out of the parent company every year using Rovers.

All i got was don't be stupid why would they rob themselves !

The lack of understanding of how these things can work via loopholes is frustrating to those who know it can and it can all be above board when facilitated by expert accountants.

Morally and tax wise it ain't exactly throwing straight dice though.

26 minutes ago, simongarnerisgod said:

if we don`t go down this season then we certainly will the next,embarrasingly so as well,id`e say our future is`nt very rosy

Hence why they were in a rush to secure draw master Eustace.

They and JDT knew exactly what has been coming hurtling down the tracks.

Why can't they flog the Neville mansion over here and give that money to the club ?

Seems pretty logical seeing as that was the straw that broke the camels back so might as well put it to use and it shouldn't be a problem seeing as the Indian govt has seized property over there to cover it.

31 minutes ago, Dreams of 1995 said:

Would Venkys be able to sell the Club whilst the investigation is still live?

I'm pretty sure they could as it seems to be the movement of funds from VH group to VHL that was supposed to fund the club but was used to buy personal property etc.

So the club itself not involved but i'm still amazed nobody wants to go through the VHL to BRFC transactions with a fine tooth comb but presumably that would be one for British authorities to take up.

33 minutes ago, joey_big_nose said:

I think there must be enough leverage now to make them sell. Its not sustainable. We need a combination of 

1. A credible buyer

2. Pressure from a UK authority to sell (hopefully the new regulator).

3. Fan alignment that they want the sale also

Reckon theres a way forward for for 2. and 3. - the issue is the buyer. Is there anyone out there? Could a fan consortium do it? How have other clubs in similar situations made it work?

Nobody in any official capacity cares though that's why the Govt simply has to be involved in this stuff as they've been posturing to do for decades.

Reading and Sheff Weds dragged through the mire recently and nothing is done.

Problem as i see it is the Indian nationalist got are fed up of vast amounts leaving their land whereas here in England this so called bastion of everything moral successive govts are quite happy to see billions in overseas money funnelled over here however it arrives.

Unless there is a direct link to terrorism/drugs etc then they couldn't care less.

Slash and burn for league 1 now 100% guaranteed.

Giving benefit of doubt maybe they are preparing one final big case to say look let us fund it as normal without having to apply to the court every few months.  That however doesn't help the club in the short term but they know they've got some transfer income and have more assets to cash.

Either way we are screwed as anything other than a club clinging on for survival now and it's ALL down to this corrupt ownership, nothing else.

Waggot will be along soon to say owners committed no plans to sell expect everything sorted in August.

Whilst on the subject does no one think the training ground sale will come back and bite us on the arse at some point ?

Seeing as it was valued at probably 3 times it's real value or is that why they only appear to have actually paid half the money into the club for it ?

I presume the Academy is run separately with its own director and manager so Waggot probably has minimum input otherwise he'd have slashed and burned that by now.

Remember not that long ago the talk Mowbray and co (him) weren't that big a fans of that system and more had their eyes on the Barnsley model of a dummed down everything under one roof cost cutting scenario ?

Hence the beginning of the training ground shenanigans.

Anyway as far as the court thing goes nobody will know until it turns up on companies house as a new share issue.

8 hours ago, Upside Down said:

What do you mean like?

They do do this on purpose.

Non of it makes any sense there is now the Reading owner the latest guy ruining a solid sized club they even spent 50 mill on a training ground whilst in the second tier.  Now they are selling it to tiny neighbours Wycombe Wanderers to lease back if they are lucky.

Why it's allowed to happen and where is fit and proper is one thing but the main driver is WHY these people get involved in the first place to seemingly on the face of it blow tens of millions down the drain ?

It's dodgy.

23 minutes ago, 47er said:

These people have things completely the wrong way round.

They effectively argue that "if 20000- home fans turned up to every game we would have a good team".

In reality, if we had a good team, 20000 fans would turn up!

Its the entertainment game, the club has to incentivise the fans. They have to put on something that's worth paying for.

What they are doing is relying on the loyalty of fans which has built up over years without giving them the  experience which attracted them in the first place.

If you were 9-10 years old in 1993, and living in the Blackburn area there was only one place to be on a Saturday--- all that has been thrown away years ago.

They are too stupid to realise it wouldn't make a jot of difference the club would still be an aimless shambles in the upper corridors.  Same things would still happen all it would mean is it cost the owners less in share issues but the budgets would just be the same and still be cut.

It's pure fantasy we'd be running higher wage bills and getting better players there are enough examples in this league to show that.

These people saying that are plain ignorant, why aren't Sunderland/Sheff Weds/Norwich etc etc storming the league with their 20/30/40k crowds ?

And what actually happened here when we did have 20k plus crowds ?  That's right they created monumental losses instantly then relegated us and blew the parachute money in one go.

5 minutes ago, AllRoverAsia said:

He was "one of our own" to Brum fans but they also considered him to have been treated poorly by the new owners.

He'd done ok the previous season and they got their highest points tally in 7 years and safe.

This season after 11 games and in 6th position the owners sacked him citing they wanted "a winning mentality and a culture of ambition" across the club.

That is a damming statement for owners to issue when sacking the manager/ coach.

It's probably what put him on Rovers short list as a JDT replacement.

Brum then appointed Rooney and then Mowbray proving that some just never learn.

Which is pretty much the same reasons Sunderland sacked Mowbray.

Here we wanted an ambitious think outside the box young coach to develop players and build a promotion challenging team on a midtable budget, something Mowbray could never do.

We got a guy he was doing the business in his first season so they let his best forward go, didn't replace him then gave him a league 1 budget and flumoxed his mid season transfer windows x2.

You can't make this shit it it's like they all do it on purpose i'm almost of the assumption staying in the championship is one big launderette for certain types.

They won't discuss it without owners permission and the cloak and dagger operation at Rovers means that'll never be granted.

So if you ask him Steve will say he's looking into it.

33 minutes ago, JHRover said:

Or perhaps the worst outcome of the lot....that Mowbray returns to manage Birmingham just in enough time to pluck a couple of wins out and leapfrog us, consigning us to relegation whilst keeping them up. 

It's written in the stars.

Obviously i wish Mowbray well but the longer Venus is in charge there the better so hopefully Tony puts his feet up until summer.

If it has gone through prepare for the club PR, Venky bots and groupies to get active quickly again on the LT, Faceache etc.

Looks like the boxes have been ticked and the next one set OR funds haven't been approved because they've been made aware of incoming transfer money and bills being paid so have said come back in August when that runs out !

Expect the next one to be moved back at some point as well it's way to positioned for a transfer window.

Brum fans not happy tonight..

Not having a go in must win home game, don't lose instead of try and win mentality backfiring, players have downed tools in managers absence they can't be arsed, wish we still had Eustace at least they tried for him !

Strange division this full of strange players.

1 hour ago, Armchair supporter supremo said:

What i don't understand with this bs is that surely they have millions in cash and assets around the world outside of India that could be redirected to us if they really wanted to. 

I'm sure it was mentioned ages back in some article that like most "billionaires" they have a lot of cash tucked away in swiss banks and also in the past they've held business meetings in Switzerland 

 

The simple truth is that rovers isn't a top priority for them

Something i touched on in the past but it's not the way they do it which is why i'm convinced it's number crunching the head company accounts that suits them losing a certain amount each year.

Like all these mega wealthy types they run things on huge debt and bleed out into their own pockets avoiding tax along the way which is fine when you have a massive turnover and acres of land to secure borrowings against.

Non of their other businesses could sustain the loses it takes to run Rovers and they'll never use their personal stash because they'd never be able to get it back.

A one off cash donation now and again wouldn't do any harm though !

The same things must've applied at Brum but maybe 'one of our own' type feelings might have given him a pass down there that he was never going to get here.

So it looks like its been put back again ?

Well i never, why rush i mean we must have at least two grand of the first Wharton instalment left !

7 hours ago, Mattyblue said:

This club doesn't prioritise results, surely the only pro outfit at any level to preach such a non-competitive mantra - and it shows.

Think of Bowyer, think of Mowbray, now this guy. It's all an 'ah well' shrug of the shoulders and on to the next one. 

A development Academy that happens to have one of it's sides playing in a senior league.

Sell Sammie in Summer and that'll be 30 mill plus of players either through academy or bought and developed so they'll be jumping over themselves to say their model worked.

Bonuses in certain pockets and carry on.

3 hours ago, lraC said:

I'm pretty sure that's not correct. I think he was due a bonus when he left, but nothing like that level, so far as I am aware.

Probably down to a loyalty bonus when he signed his contract here that would be paid if he saw it through ( no doubt Nyambe, Rothwell, Lenhihen and BBD benefited from similar hence them happy to walk )

So if the club sell they are liable to pay up straight away as they are the sellers, although no doubt it'll be spun as he wanted to leave.

By the sounds of his latest comments hes shrugged his shoulders and is expecting it to go to the wire.

If it does we'l fail.

Surely though just one other win since Stoke and we might not have to go down to the wire. When a new guy comes in to turn it around i'd have thought 'must win' from the word go was the mentality needed.

Now he's preaching grim acceptance.