[Archived] Rovers Might Have Been Sold?

[unclejack28]

There have been two profiles published in India of the business activities of our little known Indian businessman suitor since his interest in Rovers became known. He turned over 700 million rupees which was about £9 million at last year's exchange rate.

Well I am from Mumbai and honestly I hadn't heard of Saurin Shah. His Uncle Niranjan Shah is huge over here with his involvement in the IPL. However over the last week I have been asking people about him and what he does. I have even spoken to people who know niranjan and the answer that I have received is that he is a very successful business man who is an entrepreneur and does more than 1 thing. He definitely owns several shipping lines and a "successful" shipping company according to those that know him. I am looking for more information that I will get about him soon, however I can assure you the fact of 9m is nonsense.

[RevidgeBlue]

There have been two profiles published in India of the business activities of our little known Indian businessman suitor since his interest in Rovers became known. He turned over 700 million rupees which was about £9 million at last year's exchange rate.

To be fair I was under the impression from what I read that this guy was only fronting a potential consortium and wasn't the source of the money behind it. In much the same way Dan Williams was supposed to be interested in putting together a consortium.

In neither case has the actual source of any actual funding money been transparent as far as I can see.

[philipl]

Saurin Shah of Ashtech

70 crore was about £9m when I ran it through XE for 2009 or have I got a decimal point wrong?

The guy has been running the business and its predecessors for 25 years and there isn't much evidence from that piece that his Uncle has helped him before. Of course, just like Sasha was a front (oh no he wasn't and the FA believed it) for Papa Gaydamak, the nephew might be a front for the Uncle.

[unclejack28]

Ashtech is one of his companies there are 3 others,More importantly as mentioned earlier there are 21 Billionaires living in Mumbai itself. You never know who else is in the consortium.

[Doaksie]

Saurin Shah of Ashtech

Reading that article, he comes across as a well educated and astute character. I just wonder how impressed he would have been with Chris Nathaniel and his attempts at a night out in London together. I can't see him having been too enamoured with the play boy image Nathaniel attempts to portray! If nothing else, at least that article seems a million miles from that idiot's text speak garbage earlier. As people have said, if the Trust are happy with this gentleman we can only trust their judgement.

[tony gale's mic]

Glad we finally saw a picture. Have to say I'd been mentally picturing this chap:

[Steve Moss]

At least the Dark Lord Sauron is flush with cash. That Ring couldn't have been cheap.

[nicko]

Just a thought.

Let's face it, Rovers have been for sale for three to four years now and one thing stands out a mile.

There is NO Rovers fan with the kind of money Jack Walker had. There is no-one in Britain able to buy the club despite the fact that it is very cheap by Premier League standards.

So if that means a foreign owner - with all of the question marks and slight sniggers that still brings - then that may be the only option.

The alternative is what has been seen so far this summer.

Stagnation.

[thenodrog]

So seemingly we'd be going from owners who are sat on plenty of money but won't give us any, to owners who haven't got anything substantial in PL terms to speak of.

Does that actually make us any worse off?

Maybe not but it prob means that we won't crash and burn either.

Just a thought.

Let's face it, Rovers have been for sale for three to four years now and one thing stands out a mile.

There is NO Rovers fan with the kind of money Jack Walker had. There is no-one in Britain able to buy the club despite the fact that it is very cheap by Premier League standards.

So if that means a foreign owner - with all of the question marks and slight sniggers that still brings - then that may be the only option.

The alternative is what has been seen so far this summer.

Stagnation.

I'll take that.

[deryck guyler's spoon]

I'd take stagnation too. Unfortunately I dont think we will be getting that under the Walker Trust. All they will offer imo is decline and a return to the dark days of the 70's.

[Mr. E]

Best of the lot without doubt.

But where would you rank them compared to Fulham, Birmingham, Villa, Spurs, Bolton (possibly), Everton, and a handful of other clubs who we would like to compare ourselves to. Note that I didnt mention fantasy options like Chelsea or Man City. The point is the grass isnt always greener on the other side, BUT maybe it might be, as we can see with enough cases supporting each side of the coin. Lets leave it to the current owners to judge which these guys fall under.

eh...Fulham, Brum and Bolton aren't that much richer than us. Nor do they have better players really. And Villa and Spurs have always been rich due to their location and stadium.

There isn't really an example I can think of where a foreign company has come in for a small club and benefited it in big ways in the long run. (except Man City)

[dave birch]

I'd take stagnation too. Unfortunately I dont think we will be getting that under the Walker Trust. All they will offer imo is decline and a return to the dark days of the 70's.

DGS, answer me one question please.

Why would the trust want to run down an asset?

It's certainly not in their financial interest to see the Rovers drop out of the premiership. What would the value be then?

[PAFELL]

Very simple question Pafell,

Where would you rank the Trust relative to such recent/current owners in the Premier League as

Thaksin at City

Icelanders at West Ham

The last five lots at Pompey

Glazers at Man U

Ashley at Newcastle

Hicks/Gillett at Liverpool

the guy at Hull City

????

A simple question requires a simple answer. Of course the trust are far better than those you have mentioned. But your post that I replyed too, was basically saying that the hurdle is so high that it may be impossible to sell Rovers. Unless somebody comes along who is willing to put money in and take nothing out. If nobody comes along then the trust would remain the owners.

If that happens, then the trust have a few options. 1/ continue the way they are doing now, which would then see Rovers go bust - or at least in the lower divisions. 2/ put money into the club to allow it to survive in the premiership, which would then allow the club to continue being a football club.

At the moment it appears that the trust are waiting and hoping somebody comes along who can reach the top of this high hurdle - which in my view endangers the exsistance of the club.

[Iceman]

The trust at the moment, are doing themselves no favours. On the one hand, they dont want to put money in, andon the other hand, they being difficult about selling(understandably so) to new owners. As i said previously, if the Trust are not making money out of Rovers, then they will not put money in. Uncle Jack was the heartbeat of this club, he put the money in because he loved Rovers. The Trust clearly dont see it that way, and no new owner will see it that way either.

[deryck guyler's spoon]

DGS, answer me one question please.

Why would the trust want to run down an asset?

It's certainly not in their financial interest to see the Rovers drop out of the premiership. What would the value be then?

I couldn't tell you Dave. Running down the asset seems to be exactly what the Trust is doing. I'm no businessman but even I know that a business will die without investment. I am a football fan and I'm pretty sure that we'll be losing our Premier League status sooner rather than later as long as we are run by the Walker Trust in their current mood.

[thenodrog]

eh...Fulham, Brum and Bolton aren't that much richer than us. Nor do they have better players really. And Villa and Spurs have always been rich due to their location and stadium.

There isn't really an example I can think of where a foreign company has come in for a small club and benefited it in big ways in the long run. (except Man City)

The above clubs are in much more debt than us. Unless there are exceptional circumstances Bolton seem an accident waiting to happen, whilst how can you say Man City have benefitted in the long run? City have only had this level of money for a year or so. A quarter of a million a week for some Carlos Kickaball with unexceptional talents will drive their wage bill to levels that are completely and totally impossible should the wind change with the Arabs. They are the richest owners in the world. No one else can compete with their wealth so when interest fades as it inevitably will they will likely fold. The City fans will sob into their sky blue scarves again and Gary Cooke will live in Monaco until the end of his days.

Get some shares in Stockport!

[thenodrog]

A simple question requires a simple answer. Of course the trust are far better than those you have mentioned. But your post that I replyed too, was basically saying that the hurdle is so high that it may be impossible to sell Rovers. Unless somebody comes along who is willing to put money in and take nothing out. If nobody comes along then the trust would remain the owners.

If that happens, then the trust have a few options. 1/ continue the way they are doing now, which would then see Rovers go bust - or at least in the lower divisions. 2/ put money into the club to allow it to survive in the premiership, which would then allow the club to continue being a football club.

At the moment it appears that the trust are waiting and hoping somebody comes along who can reach the top of this high hurdle - which in my view endangers the exsistance of the club.

Fact is that BRFC is a poisoned chalice. imo It cannot wash it's face in the long term financially no matter what Riversider might say. If we are to remain a small town club with too many neighbours in the same boat then the best way forward might be to follow the sensible financial model of Messrs Kilby and Flood but that won't suit many Blackburn ceebie newbies will it?

Even at todays low interest rates the current owner would prob be much better off with his money in a bog standard risk free building society account.

I couldn't tell you Dave. Running down the asset seems to be exactly what the Trust is doing. I'm no businessman but even I know that a business will die without investment. I am a football fan and I'm pretty sure that we'll be losing our Premier League status sooner rather than later as long as we are run by the Walker Trust in their current mood.

Running down an asset? We've just finished 10th! How much money do you think the owner would have to blow to finish more than two places higher? The undeniable truth is that as a viable football club BRFC really belongs in the lower divisions.

[deryck guyler's spoon]

The undeniable truth is that as a viable football club BRFC really belongs in the lower divisions.

Probably. Surely you hope for/want better for the club than that?

[dave birch]

I couldn't tell you Dave. Running down the asset seems to be exactly what the Trust is doing. I'm no businessman but even I know that a business will die without investment. I am a football fan and I'm pretty sure that we'll be losing our Premier League status sooner rather than later as long as we are run by the Walker Trust in their current mood.

Well, for what it's worth, these are my thoughts....

The trust obviously want rid, lack of interest, motivation etc, but, having some financial savvy, they wouldn't want to see it sold for nought. The Trustees would have Jack's original intentions in their minds, they have to act on his stated wishes. Perhaps,it is perceived that his wishes have been met, we'll never know, but it's possible. The only thing I'm certain of is that those Trustees would want to get as much as possible from the sale of the Rovers. A sale for a rock bottom price would leave them open to lawsuit after lawsuit. It would only take one beneficiary to take umbrage.

At 40 Mill it was a good buy, at 25mill it's a steal to the right owner.

As for thenos "poisoned chalice", I don't think so. You either have to be super wealthy businessman or a super wealthy fan these days. Anyone with any sense wouldn't invest in a sporting venture that wasn't a proven revenue earner (with projections that it was going to continue).

[thenodrog]

As for thenos "poisoned chalice", I don't think so. You either have to be super wealthy businessman or a super wealthy fan these days. Anyone with any sense wouldn't invest in a sporting venture that wasn't a proven revenue earner (with projections that it was going to continue).

You've just shot yourself down in flames there Dave.

Probably. Surely you hope for/want better for the club than that?

Of course I do.... but I'm not prepared to tell lies.

Sooner or later when the media packages diminish and everybody's discovered the painful truth that asia is not the land of milk and honey after all the support base will return to a position of greatest significance. And we'll find our true level.

[dave birch]

You've just shot yourself down in flames there Dave.

Why's that, theno?

If someone fronts up with a business model that keeps where we are, without blowing the budget, then......, but that's where we are at the moment, isn't it.

The other alternative is, if someone wants to take us to the next level. That is a different situation.

[thenodrog]

Why's that, theno?

If someone fronts up with a business model that keeps where we are, without blowing the budget, then......, but that's where we are at the moment, isn't it.

The other alternative is, if someone wants to take us to the next level. That is a different situation.

I've highlighted your contradiction above.

[dave birch]

I've highlighted your contradiction above.

Proven revenue earner, is that your problem?

"Poisoned chalices" are usually positions that are set up to fail by a vendor.

This is not the case with the Rovers.

Remember, the TRUSTEES HAVE TO ACT IN ACCORDANCE WITH JACK'S WISHES.

[thenodrog]

.

Remember, the TRUSTEES HAVE TO ACT IN ACCORDANCE WITH JACK'S WISHES.

I confess to some ignorance of those Dave. There does appear to be some doubt amongst other members. Can you remind me / us of precisely what Jack Wlakers wishes were?

[Veevs]

At 40 Mill it was a good buy, at 25mill it's a steal to the right owner.

Gah.. how many on here read the following article.. Debt league

A snippet about Rovers from Feb:

Blackburn Rovers

Turnover: £50.9m

Operating profit: –£6.8m

Net debt: £20.3m

Interest payment: £0.8m

Precarious. The latest accounts show bank debt, secured on the club's assets, projected to increase to £20m. This loan is repayable by May 2012. The estate of the club's late benefactor, Jack Walker, has lent some £6m interest-free. But there does not appear to be an open-ended commitment to fund the club's losses. As the chairman, John Williams, warns in the accounts: "Without external funding we are inevitably moving from a trading club to a net selling club".

Would you buy a business making an operating profit of -6.8m unless you had some interesting plans for it...