[Archived] Rovers Takeover

[67splitscreen]

Would it be borrowed against the club or could it possible be borrowed against Venkys. If it was borrowed against Venkys, would this not absolve the club from any liability?

Just my view but," Mrs Desai said, adding that the Premier League football club is being acquired by a VH subsidiary called Venkys UK Pvt Ltd." this company is not mentioned within the current list of companies in the V H Group. A search for that company on google comes back with zilch also at our own companies house.

I assume it is new and will hold the assets, history of other EPL acquisitions.......... well we can all only speculate what is next .

[nicko]

So the VH Group have been speaking to Rovers for a couple of months...their relationship with the sports agency is known to all concerned...Rovers send a guy over to India to look into them...and the Premier League go through the procedures with them yesterday...

And now they are supposed to be borrowing some money to pay for it.

Hmmm.

Not so sure.

Remember Syed went through quite a bit of question and answering and fell by the wayside.

VH seem to be left standing...and I am sure this is not out of desperation by the Trustess.

Does anyone really think that a family firm of some standing and a fair few years of growth genuinely needs to take out a loan to buy Rovers?

Or is it all just sensationalist scribbling by someone getting a tad over-heated?

[booth]

I'm more worried about a financial disaster than a PR disaster.

Ditto.

I can understand people not wanting others to react hysterically but this is our club that we've all invested a lot of our lives into.

Is there any evidence that the sale of the club was financed by bank loan? That is the main worry and I'm hoping that they squash the rumor as soon as possible.

Quotes...

Justifying the investment, Desai said, "It does make perfect business sense to us. In Europe, football is an extremely popular sport and we felt we could promote our brand through this club."

http://timesofindia.indiatimes.com/sports/football/english-premier-league/top-stories/top-stories/Venkys-set-to-buy-EPL-club-Blackburn/articleshow/6818082.cms

“Now that we are going global, we need a global sport, hence a football club,” Mrs Desai explained."

Brushing off the financial difficulties, Mrs Desai said, “The club has no major losses... That is not a major financial issue nor does it have accumulated debt. We will pump in whatever is needed but the main thing is to get the club back into good shape. This is an investment and it will grow on its own strength.”

Mrs Desai said that while they will pump in an additional £5 million to ensure they get good players, she ruled out any high-profile acquisitions at least for now. “We won’t need to buy expensive players, we can always lease them,” she said, adding, “We don’t expect to be in the Top 5 of the Premier League. We will be happy to be in the Top 10-12.”

She added that Indian and multinational companies have begun to ask for sponsorship of jerseys and at stadia, to which the VH Group is “complexly open as we need to turn around the club”. “But our first priority is to get the club on a strong footing and back into the Premier League for which we might need to put in more money. As of now, we have no plans to put the Venky’s logo anywhere as this will be an independent business,” Mrs Desai said.

The acquisition has been funded by ICICI Bank .

http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/Indian-poultry-major-Venkys-to-buy-Blackburn-Rovers/articleshow/6817984.cms

I must note that the ICICI Bank and the £5mil investment mention, aren't given in quotes directly from Mrs Desai. I'm hoping that these discrepancies are just the artifacts of an enthusiastic journalist getting it wrong.

[JohnD]

JohnD, it is unfortunate that suspicious minded chaps like me notice you registered on 30 August 2010 just at the time Nicko started saying Syed had no chance and Goldberg started his 5live stuff.

I am sure your arrival here is pure coincidence.

The confidence with which you have agreed with me gives me great hope that there is going to be an immediate statement that there is absolutely no borrowings involved in funding either the club take over or any ongoing investment.

I actually registered about 6 weeks before that under a different username but my registration was never confirmed and, after a while, I lost the ability to post.

Your last paragraph is complete tosh but that is something we all expect from you occasionally.

[Fraserkirky]

JohnD, it is unfortunate that suspicious minded chaps like me notice you registered on 30 August 2010 just at the time Nicko started saying Syed had no chance and Goldberg started his 5live stuff.

I am sure your arrival here is pure coincidence.

The confidence with which you have agreed with me gives me great hope that there is going to be an immediate statement that there is absolutely no borrowings involved in funding either the club take over or any ongoing investment.

The plot thickens

[JohnD]

I repeat, but realise I am wasting my breath. We know NOTHING yet. Time will tell.

[Wing Wizard Windy Miller]

Just my view but," Mrs Desai said, adding that the Premier League football club is being acquired by a VH subsidiary called Venkys UK Pvt Ltd." this company is not mentioned within the current list of companies in the V H Group. A search for that company on google comes back with zilch also at our own companies house.

I assume it is new and will hold the assets, history of other EPL acquisitions.......... well we can all only speculate what is next .

Jesus, it's like WGA UK all over again.

[Spansterkid]

Does anyone really think that a family firm of some standing and a fair few years of growth genuinely needs to take out a loan to buy Rovers?

Or is it all just sensationalist scribbling by someone getting a tad over-heated?

The VH Group figures, quite simply, prove they don't have the cash to buy Rovers for cash. The Economic Times of India report indicates it's being funded by a loan.

Do you know something else that can account for a group of people with illiquid assets of £100m or so buying a company for nearly half the value of those illiquid assets? Assets that they really, really don't want to liquidate anyway.

Of course, I could have just PM'd all the research I've done as a concerned Rovers supporter to you so you could have been paid for my work tomorrow, but I'd rather just post it on here for free and take the flak.

As it turned out, it's beginning to look like I was right!

[JohnD]

The plot thickens

Oh dear, not another one?

What are you saying exactly?

Do you have any evidence?

[philipl]

I repeat, but realise I am wasting my breath. We know NOTHING yet. Time will tell.

That is being very condescending towards the media in India.

They might have cocked up but they have not said nothing.

Incidentally, the Times of India's Financial Times article which includes the ICICI Bank financing the deal is the major story picked up by the Google News crawler. That should send the message loud and clear how important that newspaper is in relation to all the other news coverage of the Rovers takeover and why this issue has to be addressed without fail immediately.

[JohnD]

That is being very condescending towards the media in India.

They might have cocked up but they have not said nothing.

Not at all, I just don't trust the media one iota and we will all know soon enough from the horses mouth (I hope).

It's good to talk but I'm off to bed now, someone has to keep the country running tomorrow!

[AggyBlue]

She added that Indian and multinational companies have begun to ask for sponsorship of jerseys and at stadia, to which the VH Group is “complexly open as we need to turn around the club”. “But our first priority is to get the club on a strong footing and back into the Premier League for which we might need to put in more money. As of now, we have no plans to put the Venky’s logo anywhere as this will be an independent business,” Mrs Desai said.

Are they trying to buy the wrong club?

[Fraserkirky]

Oh dear, not another one?

What are you saying exactly?

Do you have any evidence?

Merely amused at Phillipl's suspicious nature.

Ha no I dont have any evidence. It is interesting though.

Do yourself a favour and simmer down.

[67splitscreen]

So the VH Group have been speaking to Rovers for a couple of months...their relationship with the sports agency is known to all concerned...Rovers send a guy over to India to look into them...and the Premier League go through the procedures with them yesterday...

And now they are supposed to be borrowing some money to pay for it.

Hmmm.

Not so sure.

Remember Syed went through quite a bit of question and answering and fell by the wayside.

VH seem to be left standing...and I am sure this is not out of desperation by the Trustess.

Does anyone really think that a family firm of some standing and a fair few years of growth genuinely needs to take out a loan to buy Rovers?

Or is it all just sensationalist scribbling by someone getting a tad over-heated?

I seem to recall that you were the first to label them Indian billionaires I assume you were referring to rupee billionaires.

New billionaire

[Spansterkid]

Not at all, I just don't trust the media one iota and we will all know soon enough from the horses mouth (I hope).

I'd trust the Indian media ahead of our own, any time!

[booth]

Wrong yet again, your not very good at this are you?

On FB I said that I believed that Sayed should come out and put Goldbergs rumours to bed but he didn't. I have never been pro-Goldberg other than acknowledging that he beat Sayed hands down and was abused needlessly by so called Rovers fans.

I don't regard myself highly at all, as I say you clearly make things up as you go along and as such this is your natural home.

If you want to have a proper discussion or argument you need to up your game and provide the FACTS not pure conjecture and opinion.

Go on then where have I made things up? You had your tongue right down the back of Goldberg's trousers on his Facebook page. The problem lies with you if you're giving a false impression of yourself. I'm not the only one to be highly suspicious of what you write on here or on Facebook. You come across at best as a wind up merchant and at worst, a rival fan having a bit of a lark.

What is seriously worrying is you seem to get a twisted enjoyment out of any fan that shows the slightest concern for his football club. I would definitely go and see someone about that, it could be treated.

[Spansterkid]

I seem to recall that you were the first to label them Indian billionaires I assume you were referring to rupee billionaires.

Bless him, we all make mistakes!

[booth]

Are they trying to buy the wrong club?

That's the quote, don't shoot the messenger

[AggyBlue]

That's the quote, don't shoot the messenger

I wasn't, but it's a very bad, ill informed statement:blink:

[booth]

I wasn't, but it's a very bad, ill informed statement:blink:

Course she could have been misquoted. And the bank loan, and £5mil investment statements weren't direct quotes. We can hope.

Edit: Or she's expecting us to go down

[BPF]

VH are clearly not as used to PR as WGA are..

[Torgeir]

Didn't WGA hire someone else to promote their bid because their initial PR stunts weren't the best?

[67splitscreen]

I don't get all this misquoted stuff, they speak English or at least they did on both of the video links.

[booth]

VH are clearly not as used to PR as WGA are..

http://www.timesnow.tv/Venkys-Blackburn-deal-almost-complete/videoshow/4356935.cms

In this interview she appears to laugh after she says Blackburn Rovers

This also highlights that VH have not passed the fit and proper test yet. Mrs Desai says they have met with the EPL, and that they expect approval within 4-5 days.

I don't get all this misquoted stuff, they speak English or at least they did on both of the video links.

Even native English speakers get misquoted by journalists all the time 67.

Just look at SA

[BPF]

Didn't WGA hire someone else to promote their bid because their initial PR stunts weren't the best?

Granted, but they still understood that you get someone to tell you what to say. If directors talk to the press directly then you tend to get a number of confusing statements in the press (sound familiar?). I would love to give you a good example of this from my own experience, but I'm not allowed.

I love how £5m is quoted without a hint of comedy.

The media over there is clearly clueless about the Premier League

I think Scott O Donnell has got Syed Ali and Venkys confused...