8 minutes ago, Crimpshrine said:

The financial statements in April said pretty much the same thing as in the ones issued yesterday – Venky’s need to obtain permission every time they want to send money.

I was recently lucky enough (not sure if that is the right phrase!) to talk to Suhail about the situation with the court hearings and Venky's ability to send money from India. This was back in September:

I asked why the official ( vague ) club statements contradict the financial statements issued by the club in April (on Companies House web site). The financial statements state that the owners need to apply to the courts each and every time they need to send money. Conversely, the club seem to maintain that there is 'no impediment' to the owners sending funds.

I'll put the conversation in Q and A format.

Q: Why do the Club maintain that funds can be sent without impediment while the financial statement from April states they can't?

A: The financial statement was correct at the time. The November hearing allowed £11 million to be transferred as long as a bond of the same amount was deposited in India. The November court hearing did not allow any further funds to be sent without going back to court. This was true in April when the financial statement was made - we were totally dependent on petitions to the courts. The court hearing scheduled for January (now November) was a petition to be allowed to send more funds. Something changed in July and the club was informed by the owners that they could now send funds without waiting for the next court hearing to take place. However, the requirement to post a bond against each payment remains. It is still a difficult situation.

Q: So what is the point of the next court hearing if it was originally scheduled to ask for permission to send funds?

A: The court hearing now has less importance but it may allow for a petition to remove the need for the additional bond but I don't really know if that will happen

Q: how long do you think the bond requirement will be in place?

A: I am not sure but the investigation is ongoing and may take a while.

Q: What are the implications if the court hearing is delayed again?

A: Very little, It is not really too important now

Q: So, in theory, the owners could send money tomorrow if they wanted to?

A: Yes, but with the added bond it is an expensive situation for the owners and the club is in a stable financial situation just at the moment.

Q: So the club are not asking for more funds imminently

A: Correct  

That was about it. I twigged a bit later that the July date coincides somewhat with the sale of the Neville house and Venky's possibly made a profit, paid off any tax they were deemed to have dodged and then deposited the rest of the cash back in India. This may have generated enough good will to have the restrictions loosened a bit but the end result is the same - they can only send funds with an associated bond.

This was in September but I don't think anything has changed since then.

What about the more recent share issue in the other vehicle that owns the training ground ?

Looked quite like a sum you'd expect from a large property sale.

There'll be another Wharton instalment due after the new year i'd assume so that'll keep the lights on and maybe a smaller SS instalment as well.

2 minutes ago, rigger said:

If the owners have to put up an equal amount of money as a guarantee in India, what happens to that money ?

Nothing if it's just in the form of a bank guarantee,

The only person who said they had to match what they sent pound for pound was Waggot i believe so it's likely a lie. Much more likely they just had to provide a legal guarantee from their bank of matching funds which may well be against personal assets or money.

37 minutes ago, roverblue said:

I hope that financial statement is read out in the next fans forum for Waggot to respond to and is asked why he has continually lied about it.

Was it read out last time ?

Was he not forced to admit we were selling to survive ?

If not why not.

25 minutes ago, doctorryan said:

He's the Donald Trump of association football's front office world.

 

Nah the Orange one is a master at his craft of bullshitting but Greg was just another of footballs numerous run of the mill lickspittles.

17 minutes ago, Upside Down said:

I agree he was a bullshitter but comparing him to that absolute piece of human waste is uncalled for.

He even looked like him.

I don't blame him for the signings that fell through nor having to shop in the lowest rungs due to lack of backing.

I do blame him for the horrendous back up signings he brought in to develop and talked up like they were the cream of the crop. 

I do blame him for implementing the policy of 30% youth players making up the squad as that along with other factors almost saw us relegated.

End of the day he was badly let down by the owners but he was also out of his depth and rather Steve Kean like in the way he talked a good game but clearly didn't have much clue beyond youth level.

24 minutes ago, rog of the rovers said:

Well done Scotty! 

Though it may just be me, I think the article is pretty poor journalism. Grab the low hanging fruit, whilst copy and pasting a million similar articles over the last dozen years.

Venkys came in, ruined the Walker legacy, made bad decisions, compounded those decisions, haven't been seen much since. It doesn't take a Pulitzer Prize to write 90% of that article.

The juiciest paragraph is saved to the very end and this is what a journalist should be writing about.

Where has the fan base gone?

Why have they gone?

How robust was it in the first place?

These questions are the ones that deserve a journalistic deep dive, rather than a bunch of 'maybe this' and 'maybe that'.

Its been robust enough to withstand the last near decade and a half on nonsense and nothingness and still have a hardcore of 12k, which would be more if the idiot in charge had gone down a competitive pricing strategy years ago that is more in keeping with the area economics.

57 minutes ago, G Somerset Rover said:

Indeed. It'll be interesting to see what happens though when the Wharton/Szmodics instalments dry up because none of the current crop are fetching decent money.

Wouldn't be surprised if Waggot and the other guy have sold them this ideology now that we can keep going like this with minimal investment from them.

We know Swag is a downgradering chief so the longer it goes on he can make sales then slash and burn accordingly which keeps him in pension funds and perks.

You almost get the impression Venkys ain't that bothered i wonder how hard their legal team are pushing this ?

It's obviously not seen as very important by anybody and at this rate could go on forever.

2 hours ago, Devon Rover said:

The bit in the article relating to the court case being Venkys' appealing against the Indian government rules on matching funding going abroad, got me thinking.

Is the case which is due to be heard tomorrow (possibly, perhaps) purely a 'yes/no' on this point? Or is it about anything beyond that? We all understand there is some form of ongoing investigation in India. Is the outcome of that investigation required for the court case to be be heard and decided, at all, or is it something that is directly within the remit of the court case?

If the former, then I imagine we might well be gearing up for a potential further adjournment and stasis likely going into the January transfer window?

Sorry, I might have just lost track of all this over the many months!

It's been said the two things are separate and this just relates to them trying to get rid of the like for like penalty on sending money over.  

Allegedly the investigation into the main issues relating to the VH group is ongoing and we've never heard if they've got their properties back yet that were supposedly seized over there.

Perhaps they were the 'bond' for money sent over last year.

Then there are Bumley fans on facebook trying to pour scorn on it until it's pointed out they only took 200 more to WBA and not many more to Millwall.

That's piss poor for such a massive outfit who were in the Prem about 8 of the last 10 seasons, didn't take long for their awayday boosting hangers on to disappear now they aren't storming this league.

They truly are a breed apart from normality.

Great effort, i said we don't seem to be able to mix it up in terms of attack/defend/press etc but we did today and it was long overdue.

Second half after 60 mins sit back subs nearly ruined it but thankfully the heads didn't drop today and attacking intent remained. Trav outstanding just shading the MOM from a couple of others but that really was his type of game.

Pears this season has looked like a steady keeper who could be worth a million or so to someone when the next round of sales to pay bills begins, who have thunk that eh ........ 😉

We can't mix it up though now it seems we have to either go for it and stay on the front foot or sit deep defend and look to counter and pinch something or settle for the draw.

As iv'e said before it's a bit like the Bowyer days but without Rhodes i think if he set out to draw every game we'd get a result against all the bang average or poor sides.

We seem good at draws !

Must admit when he first arrived he didn't look like the player his former clubs fans were on about but now he certainly does.

Lets face it we are back to the Harold Goulan days and we aren't even in an embargo that's why Eustace needs to find a way to get the best from Cantwell and Yuki as the cheapo bargain bucket wage savings probably allowed us to get 2 decent players in.

600 Stoke fans came by free travel the other night.

Our lot wouldn't put one bus on anywhere.

It's the price we pay for people moaning about us playing shit and winning 1 nil 😑

Wouldn't mind a bit of that tomorrow.

I hope Gestede is paying for the extra striker coaching his man so obviously needs as he was quick enough to blow his own trumpet for bringing him in.

51 minutes ago, rigger said:

Plymouth, 5-2.

Once in 49 years, there's hope then !

The soft underbelly and fragile mentality that has plagued us for over a decade since this ownership got stuck into its deconstruction job remains to this day.

You could put Chuck Norris in charge of this club and the team would still flounder until they all realise that IF you have ambition you have to scrap and scrape every min of every single game, not keep using  ready made generic excuses , too many games in short time, travelling, shit ref etc etc

This is probably the worst game we could have at this moment in time it's all set up to fail and just shrug the shoulders.

Cardiff   3     Rovers  0

Have we ever won a game when kicking into the BBE first ?

It never seems to have the desired effect.

That was a Sunday morning send the big lad from the back forward type header, stuff you see watching Chorley's league.

Utter gash the lad has zero technique.

Was happy to give him time because he can cause defenders problems but there's not much point putting the ball anywhere near him.

Yep great or even good lone strikers are rare to say the least especially at this level and in the days of no wingers and very little 'ger it forward quick' straight from the back.

Between them Waggot, the other guy and Rudy will be drawing about a million quid a year out of the club plus expenses.

Nobody down there will ever bite the hand that feeds them they'd say the same if we had spent nothing and were bottom of the league.