[Archived] Club Up For Sale?

[Florida Rover]

I really don't like seeing the national press pick up on this but who knows maybe it will stimulate attendance?

[dave birch]

The info in that artcle may well be true about the losses, but not about the family wanting to sell.

It's what the trust deed says that's the important thing. If that stipulates that the Rovers cannot be sold, then that's that. If it says that it can only be sold after 10/15/20 years,There's not a lot the family can do, they are only the beneficiaries of the trust as, it seems, are the Rovers.

Anything written about the trust, including my words, can only be conjecture.

The only way to find out is to read the deed.

As for ecouraging people to attend, it could make them more despondent about the Rovers future.

[Florida Rover]

Dave, I concur.I don't really see any postives from an article of this tone and while I don't mind reading about the issues and seeing them debated on this messageboard,the papers are a different thing.I wonder what the response if any will be from the club(probably ignore it).

Florida Rover

[dave birch]

FR, we've never been media favourites, and some rags take great delight in finding negative things to say about us.

The only thing we fans can do is wait and see.

[joey_big_nose]

I really don't like seeing the national press pick up on this  but who knows maybe it will stimulate attendance?

387740[/snapback]

Best thing for this would be to raise it, in a non dramatic fashion, next time BRISA have a meeting with JW.

[Paul]

Best thing for this would be to raise it, in a non dramatic fashion, next time BRISA have a meeting with JW.

387754[/snapback]

Already have, though not as a result of this article. This is a subject which, as Dave says, is down to the Trustees. As I understand matters the Trustees have only made one public utterance since Jack died. BRISA has considered writing to the Trustees to raise this and other issues, the advice received to date suggests we would be unlikley to get a reply.

As for asking John Williams? Well I'm very happy to ask him but I would not expect a reply until such time as the club was about to be sold, not that I'm suggesting it is. Williams has responsibility to the shareholders (trustees), the club and the support. In such matters it would be unreasonable to expect a response, for Williams to publicly indicate the club was for sale would weaken his and the club's position in any negotiations. I'd suggest he's more likely to suggest the club is not for sale to strengthen his/our position.

I'd also suggest this is just some crap journo spinning a line. There are a number of inaccuracies in the article, most of which could have been corrected by reading this site!!

The Walker family do not own the club, so can't sell it

I imagine the Walker family cannot influence the Trust

Overall losses for 2005 were £5m but operating profit improved by £2.4m to +£1m

[joey_big_nose]

The Walker family do not own the club, so can't sell it

I imagine the Walker family cannot influence the Trust

Overall losses for 2005 were £5m but operating profit improved by £2.4m to +£1m

387758[/snapback]

I do agree that more than likely just Journos spinning a line while we are in the limelight. Good to see you ahead of the game too!

That last bit about operating profit, I apologise for being an accounting numbskull, does that include the subsidies from the Walker trust?

[philipl]

I'm not dismissing the article out of hand but Rovers aren't the media darlings and putting that sort of negative stuff out is probably just what the Arsenal/Spuds ordered, especially if there are attempts to screw us on players.

It's timing points to lack of authenticity:

The Walker Trust have put a lot of development money as well as loss coverage into Rovers over the years since Jack died- if the intention were to get rid, the recent capital conversion would have been less likely (selling equity is one thing but debt is in theory reclaimable and so the WT would have a stronger hand in driving the cash amount realised with more debt on the books). The actions of the WT are not those of an owner preparing for sale.

Also our low gates have been known all season- funny how they get mentioned now as we threaten the North London apple cart.

Having said all that, our gates ARE our achilles heel. I keep repeating the point, we have had an AVERAGE of over 26,000 since we returned to the Premiership less than five years ago.

In the intervening time, Rovers gate prices have not gone up disproportionately yet the Blackburn public have uniquely in the Premiership abandonned their football club. No other Prem club has suffered a 20%+ loss in attendance in the last four seasons.

I repeat the point I made in my financial summary- why should the Jersey Trust financially back a project the town of Blackburn does not seem to cherish?

Edited March 2, 2006 by philipl

[Alan75]

As dave said "Anything written about the trust, including my words, can only be conjecture."

Rovers are riding the crest of the wave, so the media will attempt to generate any little article deflect their success away from the field of play.

I would be concerned if the directors were not concerned at the gates. In fact John Williams and Tom Finn have stated so, to BRISA.

Lets look at the figures stated of £4 million loss.

The club actually made an operating profit of £1m (a loss of £1.4m in 2003/4) before the player trading was taken into account. When depreciation of player values and interest payments were taken into account there was an overall loss is almost identical to last year £5million.

I would suggest that there are a lot of other premiership clubs who would love to be in the same financial situation as Rovers.

Getting back to the article and the suggestion that the trust want to sell, it is inevitable, (although I and or any of us know the terms of Jack Walkers legacy), that at some point, there will be no family ties between the trust and the club and it will only be a historic link with the founder of the Jack Walker Business.

Maybe our journalist has picked up on the fact that, at the Rovers AGM there was a resolution to convert the £14million loan into shares, thus wiping out all Rovers debts. Whether that is an indication of wanting to sell I dont know, maybe philipl could explain better.

We have been fortunate to have had a financial benifactor and the backing of the trust since his departure. Things may change, but lets look at the positives the trust have backed the club through recent bad times, we are now on the up.

Lets enjoy it.

[Paul]

That last bit about operating profit, I apologise for being an accounting numbskull, does that include the subsidies from the Walker trust?

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I'm sure philip will correct this if I'm wrong. Operating profit is the money made from daily activities during the financial year, basically it's annual sales (income) less annual costs. In 2004 we made an operating loss of £1m, but in 2005 we made an operating profit of £1.4m, which I interpret as an improvement of £2.4m.

The overall loss of £5m is achieved by taking into account things like transfers, player amortisation (don't ask me!) etc.

[Alan75]

player amortisation (don't ask me!) etc

eg Grabbi. Buy for £7m - sell free transfer. = loss

[Alan75]

One of the problems is the number of Premiership clubs in the area. That corner of the country now has seven - Blackburn, Wigan, Bolton, Liverpool, Everton, Manchester United and Manchester City.

A real problem for travelling jouralists from down south.

[Bobby G]

It says the Walkers are fed up with the losses thay they are incurring largely due to the attendances.

http://tribalfootball.com/march/englsnews7020306.html

Hmm...

[Cocker]

Vinjay will have a field day

[ihtd]

Get Mr Russian on the phone!!!!!!

Sell Sell Sell

Sugar daddy V2.0 here we come.

[Bobby G]

I wouldnt feel comfortable if a Russian bought us out and replaced the players that have the Blackburn character with mercenaries like Pompey have been doing and then we would be clouded in suspicion about where the money is coming from and what happens tomorrow if Mr. Moneybags leaves us!

I wouldnt mind a fan buying us though.

[bob fleming]

It's also discussed in the Gate Debate thread. The Daily Telegraph are also running this "story" - in fact let's be honest that's where Tribal Nonsense got it as well isn't it?

Dave Birch makes a very good point in that thread - no one knows what the score is regarding the club and the deed - so in all probability Mihir Bose (Telegraph journalist) is just raking stuff up as we're doing rather well and we play the original Big Club this coming Sunday in a very important game.

Hopefully we'll see a statement from the club saying is all nonsense. This'll be shortly followed by Vinjay's suicide.

Then again, how do you go about selling a football club? EBay? An advert in The Times? Or do you start a rumour? Smoke / Fire, Worry, etc etc etc.....

[stuwilky]

I suspect this stems from the Telegraph story, which was poor at best, so this is simply copying a crap article.

[Alan75]

It's also discussed in the Gate Debate thread.

387781[/snapback]

Ive moved them over here.

[Bobby G]

Sorry as I hadnt seen the other posts!

[Alan75]

Sorry as I hadnt seen the other posts!

387785[/snapback]

No problem Bobby, it was hidden away in the gate debate topic.

[SIMON GARNERS 194]

We have been fortunate to have had a financial benifactor and the backing of the trust since his departure. Things may change, but lets look at the positives the  trust have backed the club through recent bad times, we are now on the up.

Lets enjoy it.

387762[/snapback]

May I be so bold as to alter your statement Alan75,this may be more appropriate in the not so distant future..............

''Things may change, but lets look at the positives the trust have backed the club through recent bad times, now its up to us.

Lets enjoy it.

Get my drift?

[den]

Don't discount the possibility of the club being up for sale. The rovers need new investment and while that doesn't mean there is a scramble to get rid, let's not kid ourselves, the last thing the Jersey trust wants is to bail out a struggling premiership club year in, year out.

I've said before, that if the right investors were to approach the club, the JT would sell.

[only2garners]

You can assess the quality of the journalism by the statement that "sources close to the club say attendances are down to 21,000". I can't imagine how much digging Bose had to do to extract that gem....

[dave birch]

Any club will be for sale if the right amount of dosh is put up.

My thinking is this: These journos know as much as you or I as to the contents of the trust deed. I doubt that any of the trustees would have opened up to a journo.

Den, if the deed says hang on to the club for at least 20 years, then that's what will happen. Having said that, there maybe a clause that says "sell if the club finishes in the top 5 ".

You can bet your life that Jack would have put one thing in the deed, and that would be to put his family first.

I don't know what philipl and the rest think, but you can be assured that the size of the trust would have grown enormously over the past three or so years.