[Archived] Rovers Takeover

[philipl]

Nicko can you confirm as mentioned earlier if this does not get resolved by the end of the month the Trustees will take the club off the market does anyone know will our possible new owners be at the game tommorrow night?.

No and no.

As I posted on Friday night when I gave the heads up about this development, this could stretch into January before a sale concludes in which case the Trust's plan B swings in.

The VH Group are very new on the scene- we are back to mid-July/early August. The initial contacts have been enormously encouraging apparently but there is no reason to think that either they or the Trust will cut corners.

[booth]

I have to say that the VH group look very promising. At first glance I wasn't so sure, but unlike Mr Syed the evidence is there of their wealth and history of good business practice. At least they are the sort of people you would want associating with the club.

Can't wait for the Goldberg expose

[imy9]

Due diligence takes about 6 weeks, should it really take nearly TWICE as long?

Philip any idea if DD has actually begun yet?

[den]

It would be nice (and IMO best for all concerned) if the whole question of a Rovers Takeover could just be totally forgotten about in all areas of the public domain (including the various tips, hints and leaks from "moles") and the entire business of finding a suitable buyer and possible subsequent purchase of the club could be simply left to the Trustees, the Club, and their various advisors to just get on with in complete and total abscence of ALL outside distractions and comment.

That way there would not be all this totally fruitless and annoying discussion of various leaks, myths, and mud-slinging with the consequent general frustration for everyone, and we could all just get on with our normal way of life, until one day .....BINGO!! We all wake up to find it's happened. That way the Trust have done their duty and found a buyer that ticks all of Uncle Jack's boxes, and the club is already in the hands of it's new owners.

Ah! (sigh)..... wouldn't that be wonderful.

It would be wonderful for anyone unable to deal with the clubs search for new owners. To be honest Fife, I really can't understand people wanting the discussion on here halted. Beggars belief to me.

[philipl]

Due diligence takes about 6 weeks, should it really take nearly TWICE as long?

Philip any idea if DD has actually begun yet?

As far as I am aware it hasn't.

DD should take a shorter amount of time as the Rovers have just been through two iterations with Ali Syed and the mystery man.

However, the covenants are such that the Trust has to be incredibly careful so there will be extensive reverse diligence and deep checking into the motivations of VH and what they would do if Rovers run into difficulties etc.

As timmyjimmy posted, those getting to know you processes take time and there is absolutely no need whatsoever to cut short the process.

January(ten weeks from now) is a real possibility- that has come from an ultra-reliable source. If it is January, it could be as little as thirteen weeks from initial contact to sale (including the two biggest holidays in the Hindu and Christian calendars) which is phenomenally quick for selling a £50m business.

[92er]

What I want to know is "should be all get upbeat again?"

Of course you should.

[ada2020]

So how long did the Liverpool sale take?

Seemed to get wrapped up rather promptly, and they are worth more than us.

I'm leaning toward the cynics on this now, that's not to say I do not believe what people are posting but frankly the longer it goes on the less interested I am.

Chicken farmer billionaires, you couldn't make it up.

[1864roverite]

They havent made it up pal, its reality, they are real world leaders in that business take a look for yourself.

[92er]

January(ten weeks from now) is a real possibility- that has come from an ultra-reliable source. If it is January, it could be as little as thirteen weeks from initial contact to sale (including the two biggest holidays in the Hindu and Christian calendars) which is phenomenally quick for selling a £50m business.

It isn't relevant, but are the people behind the company Hindu or moslem?

[philipl]

Hindu I believe.

[92er]

Hindu I believe.

Thanks.

[ada2020]

1864, I did state that I believe what people are saying, however I am beginning to doubt anything will come of it just like previous bids.

My last comment was a throw away remark at how funny it all sounds.

[philipl]

So how long did the Liverpool sale take?

Seemed to get wrapped up rather promptly, and they are worth more than us.

I'm leaning toward the cynics on this now, that's not to say I do not believe what people are posting but frankly the longer it goes on the less interested I am.

Chicken farmer billionaires, you couldn't make it up.

It would be wrapped up this afternoon if we were faced with going bust at 4pm with a 9 point deduction.

That's what happened to Liverpool.

Let's see how munificent NESV turn out for them after the initial euphoria shall we?

[Fife Rover]

It would be wonderful for anyone unable to deal with the clubs search for new owners. To be honest Fife, I really can't understand people wanting the discussion on here halted. Beggars belief to me.

It's not the discussions per se' that I want ending Den. It is the seemingly endless round of rumous (both well intentioned and otherwise), the constant round of endlessly repeated questions (many of which are just ridiculous), and the consequent accusations and arguments that result from all of these things. Also the postings by people who may or may not have insider knowledge are both distracting and often misleading as well as possible betrayal of confidences in some cases, and (I would expect) resulting in some cases as causes for concern and even anger for the people actually involved in discussions at the sharp end.

[ada2020]

Thats a fair point Phillip, I would say that I have no interest in how beneficial NESV are to Liverpool just stating that their deal went through very quickly.

I know it's simplistic, but surely if the stumbling block is Jack's wishes then would it not be best to bring it up earlier rather than later?

[philipl]

It's not the discussions per se' that I want ending Den. It is the seemingly endless round of rumous (both well intentioned and otherwise), the constant round of endlessly repeated questions (many of which are just ridiculous), and the consequent accusations and arguments that result from all of these things. Also the postings by people who may or may not have insider knowledge are both distracting and often misleading as well as possible betrayal of confidences in some cases, and (I would expect) resulting in some cases as causes for concern and even anger for the people actually involved in discussions at the sharp end.

Those are legitimate concerns Fife but talking for myself, I have been as careful as I can not to do anything which I adjudged would damage our club at any stage. Getting a great deal for Rovers totally outweighs anything that happens on here.

It has been to the immense credit of a number of MB posters that far more sensitive information has leaked out (some from the wannabe buyers' end) and has not ended up in the public domain.

[John]

Football365 | All The News | Football News | BUYERS BEWARE, WARNS ALLARDYCE

http://www.football365.com/story/0,17033,8652_6449762,00.html

[Al]

Just to clear up the finances a little:

£1 million is 10 lakhs and 100 lakhs is a crore (so 1 crore is £10 million)

VH Group had profits of 2056 lakhs (after tax) so that would mean that they had profits of over £200 million for the previous financial year.

What I found more interesting was the fact that they had "profits available for appropriation" of 75 CRORE, that amounts to £750 million pounds!! As Philip has stated already they have been accumulating wealth for over 30 years so are worth billions, interestingly they are not mentioned anyone as being billionaires and have a limited wiki page- supporting what Philip has said previously about certain wealthy individuals/groups being discrete.

According to the conversion I found on the internet 5 crore = 1 million euros.

So 75 crore = aprox 15 million euros. A bit different to £750,000,000

[philipl]

Just re-checked myself Al and you are correct.

I quizzed and re-quizzed the guy in Delhi and he was adamant with £200m in profit which didn't ring true with what I could remember of crores and lakhs. I left it at that.

[philipl]

Thats a fair point Phillip, I would say that I have no interest in how beneficial NESV are to Liverpool just stating that their deal went through very quickly.

I know it's simplistic, but surely if the stumbling block is Jack's wishes then would it not be best to bring it up earlier rather than later?

There are so many things that make little sense but we are all complete outsiders as I keep pointing out.

We can attempt guesses, we can speculate and we can get things spectacularly wrong as I know I have.

[imy9]

According to the conversion I found on the internet 5 crore = 1 million euros.

So 75 crore = aprox 15 million euros. A bit different to £750,000,000

Damn you answers.com, last time I trust them!

Interesting, how have they "only" made £15 million Euros profit when they have 80-90% of the poultry industry in a country as big as India, Philip are they still in the "billions" or are we talking about "millionaires"?

[philipl]

I don't know how the Group is structured but the publicly quoted business for which numbers are available is only one part of the business. According to the link den posted, the specialist biotech business was turning over £30m back in 2007.

I know the first (small) numbers posted on here for VH was actually a quarterly result.

[Brfcrule1]

Well I have to say after today's events with the tables and results this can't come soon enough. One thing is certain come January we have to spend and spend big otherwise we could be looking at a return to oblivion and now tommorrow's game is vital we win by hook or crook.

[philipl]

We are not allowed to spend a penny before January. We cannot even play Goulon if he signs on a free tomorrow until 1 January because of the squad/window rules.

We have a budget for January from the Trust so efforts can and are being made to find signings so chill...

[MarkBRFC71]

Football365 | All The News | Football News | BUYERS BEWARE, WARNS ALLARDYCE

http://www.football365.com/story/0,17033,8652_6449762,00.html

Blackburn take on Sunderland tomorrow in their first home match for four weeks with Allardyce stressing the need for victory.

He said: "We have not played at Ewood for a month, it has been a long time. We want to excite the fans and give them an entertaining game and win three points. "

Those 3 together in one game will be a first under BFS!