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[Archived] Rovers Might Have Been Sold?

Blackburn Ender

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Strahany Unibond League

Strahany

Posted
Posted

I completely agree. As a lifelong Rover, I desperately want to see the kind of investment which Mr Syed has promised coming into the club. It would enable the club to compete at a higher level again thus not only delighting us as fans but also discharge the Waller Trust's obligations to honour Mr Walker's memory.

Professionally, though, I've worked in corporate banking for 20+ years - I'm currently employed by a very careful international Bank rather than one of the institutions who have taken high levels of risk and credit losses. A key principle of our approach to potential new clients is that we should know them really well & fully understand their background. If we are faced with a corporate structure which we can't understand with a complex web of related companies across different countries and difficult legal systems combined with financial accounts which don't seem to make sense/ don't reflect the story we've been told, we would walk away.

I'm sure that Rothschilds have undertaken a detailed analysis of the WGA companies and wouldn't just complete a deal to get their fee as there should be some form of recourse to them if they get it wrong. Additionally it would not be good for either their reputation or their insurance premiums.

It seems to me that we all need to be patient. It would be fantastic if the new investment came. However, it's so important that our wonderful club doesn't end up in the mess which others have.

Can't help thinking, though, that certain people who have influence at the BBC (Livesey, Campbell etc) may delight in politicking against BRFCs interests!

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booth World Cup

booth

Posted
Posted

Harsh Jain or whatever he/it is has scrubbed their Facebook page.

He hasn't removed it, but he has taken his photograph off there and made it completely private. He's also removed the ability to add him as a friend. Something to hide perhaps?

Was there any truth about him being in league with a rival bidder?

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rebelmswar World Cup

rebelmswar

Posted
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He hasn't removed it, but he has taken his photograph off there and made it completely private. He's also removed the ability to add him as a friend. Something to hide perhaps?

Was there any truth about him being in league with a rival bidder?

Hence the usage of the word "scrubbed" as opposed to "removed".

Think he has plenty to hide – his real name perhaps. Or maybe to stop from whatever firm he works for, if indeed he does work, seeing that he is a complete nonce.

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Henwah Premier League

Henwah

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Could be that jain is for real and has been advised to keep his head down (goldberg squeezing him for some new juicy gossip), or they've both realised they have opened a can of worms messing with us northerners :)

Or, less controversially maybe they are just watching the England match

My personal opinion on this whole thing is that I, like most rovers fans wants this guy to be legit because we've quietly punched above our weight for quite some time via a sensible, yet sometimes frustratingly strict business model, and a likeminded owner with a bit more funds would fit in with rovers approach but allow a bit more ambition. Despite the differing opinions on the touted potential owners We all seem to agree that we have a fair amount of confidence in both rothchilds and the trust to do their homework, in which case we should do what we can to let them make the decision, rather than allow rumours and gossip to sway fans against syed (or any other interested party) before anything is proven - it is easy to ruin a reputation by striking first and creating the proverbial smoke, especially during this time of uncertainty amongst fans

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Guest Wen Y Hu

Guest Wen Y Hu

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Posted

The East India Company connection has raised one or two comments, and I find it a fascinating one for sure. If you do any study of the nature of imperialism, you will at some point come across discussion of whether "the flag followed the trade" or "the trade followed the flag". Basically, did the European great powers decide to expand their political power ("the flag") before they then supported trade to the area that they had colonised/subjugated or was trade the driving force, with political ambition capitalising on the economic opening up of a potential colony? A rather good example for such a discussion is the East India Company, which played a pivotal role in the British colonial rule of India.

The East India Company was key in the trade of cotton and tea, and I guess that it is here that Mr Syed's claimed links to that company lie. There is mention of 150 years of family history and a large holding of land, so this could mean that in the mid-nineteenth century his family was in some way trading with the company, possibly in cotton. I don't know - I'm merely speculating, of course.

Historically, it is fascinating stuff and such a connection is something to be proud of. Evidently, Mr Syed is proud of it and attaches importance to it. Being associated with prestigious names is important in most societies and I would suggest that there is nothing more than an element of cultural dissonance at work here, with a bit of naivety on Mr Syed's part added.

I believe that the function of these references - the East India Company connection, the 150 years of family business story, the 900 acres of land story, and even the London School of Economics reference - is simply one of easing social interaction. People can politely pretend to be impressed with all of this and then you get down to business. After business is done, you have a drink and ask him about his family history or his time at LSE and he can modestly say that he didn't actually register on a course there - he just used to study in the library... Or whatever.

So, as for the element of cultural dissonance I mentioned: I don't think he expects people to be interrogating him regarding these things, because they are ultimately of no consequence whatsoever in the greater scheme of things - like putting a billion quid or so into a project. He may be taking liberties when he deals with the media - and I would say that is where he is being naive - but I don't think that the above matters are of any real import in and of themselves. Only if he is revealed to have misrepresented his business dealings, his wealth, and his ability to carry out a long-term plan for Blackburn Rovers will these matters take on any real meaning.

Mr Syed - what is your story?

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MikeB Premier League

MikeB

Posted
Posted

Guys, been having a chat tonight with a legal eagle friend in London and he's picked-up, through the circles that he moves in, that there's increased nervousness within the Beeb about their approach to this and the allegations. As I said last night, someone is piling on the pressure and there are a few wobbles. He wouldn't be surprised if the Beeb do not issue a heavily caveated follow-up statement.

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RovertheHill Uefa Europa League

RovertheHill

Posted
Posted

I am no expert but the things that Den has posted suggest a number of things to me

1) WGA is heavily geared i.e. it has a lot of debt

2) It stamps $1.2billion all over its accounts and yet actually "only" made $92million

3) They employ David Brent to write their annual report

Has this chap actually got $7billion? Or just a complex series of holdings of other people's wealth?

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BRFC1995 Champions League

BRFC1995

Posted
Posted

As sinical and untrusting as I am about most too good to be true ventures, on this occaision I'm starting to think we will come up roses.

WGA seem to be invested in very big deals globally and if matey owns 90% and has a billion to loan there is some serious money coming from somewhere backing him up.

BBC muck raking seems very petty when the fella is bigging himself up for billion dollar deals left right and center. Feeling confident.

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1864roverite World Cup

1864roverite

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Posted

I really dont know what to make of the accounts den so kindly posted. On the face of it it would appear too good to be true but also at the same time some of the wording appears to be suggesting there isnt the Billion quid available as media reports suggest.

I am still waiting for WGA to respond in kind and perhaps it is interesting thast Rovers have issued no comments on the latest speculation.

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