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Balwer Posted October 26, 2010 Posted October 26, 2010 Just abit.... They are worth over £1bn They have a business that has a turnover of over £1bn annual, and make an annual profit of £118m (09-10)....Not quite sure where you get your £241m sterling from. The LT have some good info on there background & Wealth - check it out....dont forget the Kentaro group are also valued at a decent amount too! Far be it from me to query the LT, but I feel they have added an extra 0. One Crore (Cr. the standard financial reporting measurement in India) is worth 10,000,000 rupees, or 10m. That can be verified at a number of sites, here for example: http://www.kshitij.com/utilities/LnCtoMnB.shtml or here: http://www.goanlife.com/rupees_explained/ From the accounts we see that the company turned in c. 700 cr in income and 96 cr in EBITDA (or profit). http://www.moneycontrol.com/financials/venkys/profit-loss/V03# The current conversion rate is roughly 70 rupees to the pound sterling ( http://www.xe.com/ucc/ ) From my calculations I have gathered that the company generates c. £100m in revenue and £13m in profit. I am happy to be corrected on this matter, and I know I am not used to viewing financials reported in this currency, but I am fairly confident in my findings and the numbers roughly coincidence with the LT but for the extra 0.
imy9 Posted October 26, 2010 Posted October 26, 2010 That's just one part I'd their business, they have a lot.i know they invested 20 million pounds sterling in bangladesh so they have money to invest.also nicko said they were billionaires,i can imagine having a business for over 30 years means you have lots of spare cash!
SIMON GARNERS 194 Posted October 26, 2010 Posted October 26, 2010 From my calculations I have gathered that the company generates c. £100m in revenue and £13m in profit. Those who were hoping for major investment may have to think again.It will be VERY interesting to see what these people have planned for us. Very cautious at the moment.Its going to be a very different Blackburn Rovers FC being owned by a business......some changes to come we may not all like. Then again I may be wrong!.............
Balwer Posted October 26, 2010 Posted October 26, 2010 That's just one part I'd their business, they have a lot.i know they invested 20 million pounds sterling in bangladesh so they have money to invest.also nicko said they were billionaires,i can imagine having a business for over 30 years means you have lots of spare cash! That's actually the entire sum total of their businesses, the company is publicly traded and those numbers represent all the group's operations. Anything you or nicko are referring to is either included already, done under a different company structure or done on an individual basis. Also your assumption that a company should be worth a lot because it's been in existence for a long time is pretty naive, no offence. Companies don't always run for a profit each year, nor does profit generation equal cash generation.
Henwah Posted October 26, 2010 Posted October 26, 2010 If Sam does stay after the takeover - "Hump-tee Dump-tee's blue white army!" (or should that be 'egg-white army'? )
67splitscreen Posted October 26, 2010 Posted October 26, 2010 Far be it from me to query the LT, but I feel they have added an extra 0. One Crore (Cr. the standard financial reporting measurement in India) is worth 10,000,000 rupees, or 10m. That can be verified at a number of sites, here for example: http://www.kshitij.c.../LnCtoMnB.shtml or here: http://www.goanlife....pees_explained/ From the accounts we see that the company turned in c. 700 cr in income and 96 cr in EBITDA (or profit). http://www.moneycont...rofit-loss/V03# The current conversion rate is roughly 70 rupees to the pound sterling ( http://www.xe.com/ucc/ ) From my calculations I have gathered that the company generates c. £100m in revenue and £13m in profit. I am happy to be corrected on this matter, and I know I am not used to viewing financials reported in this currency, but I am fairly confident in my findings and the numbers roughly coincidence with the LT but for the extra 0. I doubt you will be corrected on Venky's A/C.
BlueMonday Posted October 26, 2010 Posted October 26, 2010 We are getting closer to becoming BRKFC Hope this all works out. Sh1t or bust as they say.
chaddyrovers Posted October 26, 2010 Posted October 26, 2010 Does anybody know whether John Williams and the current board will stay on in the current positions?
booth Posted October 26, 2010 Posted October 26, 2010 That's actually the entire sum total of their businesses, the company is publicly traded and those numbers represent all the group's operations. Anything you or nicko are referring to is either included already, done under a different company structure or done on an individual basis. Also your assumption that a company should be worth a lot because it's been in existence for a long time is pretty naive, no offence. Companies don't always run for a profit each year, nor does profit generation equal cash generation. Will they not have amassed quite a lot of personal wealth over the years?
Fife Rover Posted October 26, 2010 Posted October 26, 2010 Now that it's officially almost done I think we can breathe a sigh of relief. It's been frustrating for most ( ).Thanks to nicko, Kamy and the tip-offs for the information provided throughout this saga. What now for Big Sam at the end of the season? Phew!!! Seconded Well earned retirement and plenty of time to spend it all
Backroom trueblue Posted October 26, 2010 Backroom Posted October 26, 2010 Does anybody know whether John Williams and the current board will stay on in the current positions? No one knows anything yet mate... give it chance eh
Balwer Posted October 26, 2010 Posted October 26, 2010 Will they not have amassed quite a lot of personal wealth over the years? Oh no doubt they will have, I was firstly responding to what I thought were inaccurate figures in the LT and secondly to the assumption the company is rich because it's been around a long time. Companies have a natural life cycle, they aren't permanent.
den Posted October 26, 2010 Posted October 26, 2010 Those who were hoping for major investment may have to think again.It will be VERY interesting to see what these people have planned for us. Very cautious at the moment.Its going to be a very different Blackburn Rovers FC being owned by a business......some changes to come we may not all like. Then again I may be wrong!............. I don't get the feeling that many people have gotten too excited yet SG. There's a total contrast between Syed's claims that he was going to put £300m into the club, while not wanting a profit - and the stories about Venky's plans. We'll probably never know whether that was the case, but it might hang over Venky's heads for a long time. We'll just have to hope that our new owners can put across a convincing plan for the club. There's nothing wrong with wanting to make a profit out of the club - as long as it's not just by buying and selling players. I couldn't live with that, and to be honest I don't think that is what this deal will revolve around - surely not? Let's wait and see, - in the trustees we trust
nicko Posted October 26, 2010 Posted October 26, 2010 There is a way to make money out of a football club - and this lot obviously think so. A few basic steps. Slash your wage bill. This does not mean a drop in quality, but is easy if you are recruiting young players. It can also be done at Rovers when you get rid of some of the over-paid tosh you have on the books right now. The payroll is way out of hand. Cut your costs. If there is an agency involved in signing players this should mean that agent's fees should not be going out of the club. This is another major saving. I wonder what was paid in fees per season lately. Increase your commercial side. The Kentaro people are pretty slick in the TV world and could be onto someting in Asia that we do not yet know about. We shall see. Sell players. Rovers have been doing that since the year dot. There is no harm in it. But if you have the three factors above it becomes something you do when you want rather than a necessary outcome to balance the books.
Fife Rover Posted October 26, 2010 Posted October 26, 2010 i want Luca Toni to sign now, is this possible Nicko Nicko.....How much would it cost to hire a hitman to shoot a certain person who keeps harping on about luca Toni?
Spansterkid Posted October 26, 2010 Posted October 26, 2010 These guys are not particularly rich and the figures in the press are completely inaccurate. The 'promoters' referred to in the CNBC-TV18 interview (CNBC interview) are actually the guys who together own a majority shareholding of 56.12% of Venky's India. They are known as the 'promoters', as per the Economic Times, and have a total of 5,270,258 shares in Venky's. Venky's share price is currently 913.75 INR. 5,270,258 shares at 913.75 INR equals a total holding of 4,815,698,247.50 INR. Data from Economic Times Venky's The exchange rate today is £1 = 70.6363 INR. 4,815,698,247.50 INR = £68,175,969.69 I know that the 'promoters' probably have other assets but you've got to think that a large proportion of their wealth is tied up in Venky's. So basically we're being taken over by a bunch of Indian peasants (relatively speaking of course). £68m is peanuts and this investment in Rovers, should it go ahead, represents a huge risk for the 'promoters' and therefore a huge risk for Rovers. I hope the Trustees haven't got their Crores and Lacs mixed up with their Coors and stacks. It seems to me like we should definitely not be welcoming this takeover with open arms.
BPF Posted October 26, 2010 Posted October 26, 2010 These guys are not particularly rich and the figures in the press are completely inaccurate. The 'promoters' referred to in the CNBC-TV18 interview (CNBC interview) are actually the guys who together own a majority shareholding of 56.12% of Venky's India. They are known as the 'promoters', as per the Economic Times, and have a total of 5,270,258 shares in Venky's. Venky's share price is currently 913.75 INR. 5,270,258 shares at 913.75 INR equals a total holding of 4,815,698,247.50 INR. Data from Economic Times Venky's The exchange rate today is £1 = 70.6363 INR. 4,815,698,247.50 INR = £68,175,969.69 I know that the 'promoters' probably have other assets but you've got to think that a large proportion of their wealth is tied up in Venky's. So basically we're being taken over by a bunch of Indian peasants (relatively speaking of course). £68m is peanuts and this investment in Rovers, should it go ahead, represents a huge risk for the 'promoters' and therefore a huge risk for Rovers. I hope the Trustees haven't got their Crores and Lacs mixed up with their Coors and stacks. It seems to me like we should definitely not be welcoming this takeover with open arms. Do the people who say that these people are billionaires have anything in response to this? I very much doubt these figures are accurate. £48m is a lot of cash to be spending if you only hold £64m
Spansterkid Posted October 26, 2010 Posted October 26, 2010 The figures are accurate for Venky's (India), check them for yourselves at India Times Venkys. Venky's (India) is by far the largest part of the whole group so how much other cash are they likely to have? I'm worried.
JoeBlueWhite Posted October 26, 2010 Posted October 26, 2010 These claims that Venkys don't have much money are bizarre. If they are expanding into Bangladesh at a cost of £20 million and are about to buy us for £45 million then figures of a company being worth 68 million or only having £13 million profit seem way out.
Spansterkid Posted October 26, 2010 Posted October 26, 2010 These claims that Venkys don't have much money are bizarre. If they are expanding into Bangladesh at a cost of £20 million and are about to buy us for £45 million then figures of a company being worth 68 million or only having £13 million profit seem way out. You don't have to fund expansion out of a profit, a well-run profit making business like Venky's could easily get a loan of £20m to take their business model to another country. Not to mention a loan to buy Rovers as part of a plan to take that model to Europe.
BuckyRover Posted October 26, 2010 Posted October 26, 2010 The most protracted takeover in history, countless failed bids and we are now thinking that Rothschilds/ the Trust have sold us to some peasants because they have got their exchange rates mixed up? Are you serious? They have money, otherwise they wouldn't have got this far (as Saurin Shah found out)
Spansterkid Posted October 26, 2010 Posted October 26, 2010 The most protracted takeover in history, countless failed bids and we are now thinking that Rothschilds/ the Trust have sold us to some peasants because they have got their exchange rates mixed up? Are you serious? They have money, otherwise they wouldn't have got this far (as Saurin Shah found out) I'm not serious about the Crores and Coors thing but, one thing is for sure, they're hundreds and hundreds of millions away from being pound sterling billionaires.
92er Posted October 26, 2010 Posted October 26, 2010 Forgot to add they hope to have it completed in 10 days is the most interesting point Should we be concerned the Rovers will be listed under the promoters names, rather than the listed company?
67splitscreen Posted October 26, 2010 Posted October 26, 2010 Do the people who say that these people are billionaires have anything in response to this? I very much doubt these figures are accurate. £48m is a lot of cash to be spending if you only hold £64m From the same source as spansterkid, there are some large amounts going out of the company for personal and administrative expenses circa 80 Crore (£11m) per annum and these have been consistent for the last six years, at around 12% of T/O Still your not going to amass any thing like billions unless your talking billionaire rupees.
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