[Archived] Venky's Takeover Complete

[67splitscreen]

What the hell is "15m for the betterment of the club"

[DavidMailsTightPerm]

Venky's Ewood? Oh no, please, no.

It might make sense from a commercial standpoint, but I really don't like it at all.

I think to 100% of current Rover's fans it will always be Ewood Park. However - associating it with a major Indian brand will help recognition to what it would appear to be Rover's potential largest fan base. To be honest this has to pay off - or Rovers won't be able to maintain a Premiership club for too much longer.

The next few matches will be interesting - both in terms of additional television coverage in India - but also whether being an Indian owned club will improve attendances from the large population of Indians (or of Indian decent) living in Lancashire. Interesting times ahead.

[Wing Wizard Windy Miller]

There is quite a bit more in Sunday morning's Indian papers-

The club was bought for a 54 million pounds, of which 20 million was paid for shares, 15 million was spent for betterment of the club and 16 million was paid for clearing debts.

One million pounds will be paid to the trust of the Jack Walker settlement - the previous owners - every year for three years. This has, however, left a comparatively small sum of 5 million pounds in the kitty of Sam Allardyce, Manager of the club, from which to buy more players.

I'm no accountant but if they've paid £54 million made up of 20 + 15 + 16 + 3 then how does this equate at a £5 million transfer budget? Surely the budget should be anywhere between 0-15 million?? Oh and where's the 2 bob we were supposed to have available fromn 'keeping our powder dry'

[67splitscreen]

it looks like the 2 bob went to re stocking the piggy bank, or window dressing which ever you prefer.

[DavidMailsTightPerm]

I'm no accountant but if they've paid £54 million made up of 20 + 15 + 16 + 3 then how does this equate at a £5 million transfer budget? Surely the budget should be anywhere between 0-15 million?? Oh and where's the 2 bob we were supposed to have available fromn 'keeping our powder dry'

Very true - that Benni money seems to have totally disappeared. Depending on which report you read - it could be interpreted that we have £15m to cover transfers in January. Personally I think this could actually be the case - but would expect a big signing - possibly on loan - with much of the budget covering wages.

[Wing Wizard Windy Miller]

There is quite a bit more in Sunday morning's Indian papers-

Desai, however, stated that the club will be looking to buy a striker in summer and the club is looking at Aston Villa’s John Carew and Liverpool’s David Ngog as their top targets. “According to me, money will not be the driving force that pushes this club up the table. We have the resources but are not using them to their potential. Now that we have given the club a solid support, you will see the change taking place in a couple of months. Having said that we are in the market for a striker”, she said.

FFS if they are our top targets and marquee signings then we are well and truly ******. How else are we going to move up the table without serious investment? Have they discovered an amazing new performance enhancing drug? mmmm thinking about it maybe they've been secretly trialing it on Diouf mk1!

[Amo]

Oh and where's the 2 bob we were supposed to have available fromn 'keeping our powder dry'

The Trust's back pocket?

[Wing Wizard Windy Miller]

Very true - that Benni money seems to have totally disappeared. Depending on which report you read - it could be interpreted that we have £15m to cover transfers in January. Personally I think this could actually be the case - but would expect a big signing - possibly on loan - with much of the budget covering wages.

Fair point about the loan, but haven't we reduced the wage bill recently?

[47er]

Abbey I'm not slagging anyone. Just so you know. I just have a horrible feeling of impending doom about this one and it is actually nothing to do with them being Indian. I get the creeps just seeing that crew, look a bit like gangta's to me heh heh. Here's hoping the club I've followed since boyhood is in good hands.

The new owners look like gangstas but you're not slagging anyone off!!!

[unclejack28]

Was just reading their facebook group

http://www.facebook.com/#!/venkysindia

Some of the comments from some new "Indian" fans shows a clear strategy of what they are looking to achieve.

[tashor]

"Philip, I am your father"

tgm, the Young Turk, demonstrates his intellectual superiority over philipl .........................

[47er]

To further illustrate the need for the Rovers and Venky's to co-ordinate their communication strategy, I now have an explanation of what all this means from a Rovers source but as it was given in confidence, I am not at liberty to share it with you.

Thanks once again!

[philipl]

For what it is worth, pretty well everything which was expressed in the utmost confidence by someone from Rovers (and one heck of a lot more that nobody at Rovers would ever dream of saying!) is now in the public domain in India. Sorry that folks totally misconstrued the intent of my comment.

Yet more from India:

DNA - content below:

Venky’s £54 million deal with Premier League club Blackburn Rovers will ultimately benefit Indian football, feels the company’s chairperson Anuradha Desai.

While briefing the media persons about the deal at her residence, Anuradha said football fans in the country will support the sport more avidly following an Indian connection with it. “Nothing has been materialised yet, but we may see Blackburn Rovers play a few friendlies with international clubs or may be with the Indian football team in India,” said Anuradha.

Giving more insight to her investment, Anuradha revealed that the deal is worth £54 million. Though Venky’s have bought the team, no immediate shuffling at the club’s management and the team will be seen. “We will spend some time with the present team. We will know them better before taking any hasty decision,” said Anuradha.

She also dismissed the reports of changing the coach. “Sam Allardyce is the coach of the team and he will continue his job, as we have not taken any decision to change the team or its members,” she said. “We will try to boost the confidence of the players, which is not very good right now. Our aim will be to better the current performance. It will be very impractical to say we want to see the team among the top-four teams. As of now, we want them to move up a few places,” she added.

When asked about businessman Saurin Shah’s claim that the deal was his brain child and by signing the deal without his company, Venky’s had back-stabbed him, Anuradha said that the accusation had no backing. “Saurin Shah and Co did not want to invest a penny. They had their own investment plans in mind directly with Blackburn. They had no connection with us. He was wrong in his accusations and I have proof to back my words, but I don’t want to cause him any embarrassment,” she said.

[67splitscreen]

FFS if they are our top targets and marquee signings then we are well and truly ******. How else are we going to move up the table without serious investment? Have they discovered an amazing new performance enhancing drug? mmmm thinking about it maybe they've been secretly trialing it on Diouf mk1!

Like most women, she just does not know when to button it, irrespective of who are targets maybe, I can see a few ears being bent in the next few days.

[bob fleming]

The Trust's back pocket?

You coud argue that the Trust have sold us too cheap. £23m for a Premier League Club is peanuts. £54m in total? How? And yet there is a question mark over the £20m unpaid debt.

We could probably sell Phil Jones in a bidding war for nigh on £20m (with a bit of luck). Samba for £10m maybe. Plus the others. You'd not be too much out of pocket for a (albeit) very expensive advert.

Anyway, what an unpleasant read those last few pages were. "Venkys Ewood" (deep joy). Indian Player fastracked into the first 11 (ffs). £5m in January for a proven goal scorer or impact player (that includes wages).

Oh and and from Philips post "Sam Allardyce is the coach of the team and he will continue his job, as we have not taken any decision to change the team or its members,” she said. “We will try to boost the confidence of the players, which is not very good right now. Our aim will be to better the current performance. It will be very impractical to say we want to see the team among the top-four teams. As of now, we want them to move up a few places"

Wow. Just, wow. First impressions and all that, but bloody hell.

Don't have nightmares, do sleep well. See you at Ewood Park tomorrow.

[47er]

Like most women, she just does not know when to button it,

Oh dear!

[BuckyRover]

Do you think Arsenal fans are crying about moving from Highbury to the Emirates?

No. Because they see it as a positive for the club.

FFS

[Wing Wizard Windy Miller]

Do you think Arsenal fans are crying about moving from Highbury to the Emirates?

No. Because they see it as a positive for the club.

FFS

Out of interest, which part of the comments from Ms Desai do you consider positive?

[Fife Rover]

If the new owners are serious about changing the name of the stadium from Ewood Park to Venkys Ewood I imagine that will run into a few objections from the Blackburn with Darwen Council.

The stadium is called Ewood Park and the area it stands in is the district of Ewood, so I can't see how they can do it for the simple reason that if they try to call the stadium Venkys Ewood that would actually be the district name they are changing. Whereas if they called the stadium Venkys Ewood Park that would be ok if that is their choice, but no way can they call the stadium Venkys Ewood.

How's that for a truly pedantic defence of our beloved football ground?

[Mike Graham]

my earlier post was deleted with no explanation...this takeover stinks.

The Trust have put plenty in but the Trust beneficiaries wanted more out. We have been taken over by people who have NO history of supporting BRFC or having any love for the Club in the way that many posters on BRFCS do. If it goes belly up they will be out and leaving us in the cack as quick as I can say "Dingle Barsteward".

I expect to be hauled under the mainsail for saying I am against the Venkys takeover but personally I believe this is sh1t.

[jim mk2]

"We will try to boost the confidence of the players, which is not very good right now,” Venky's chairperson Anuradha Desai said.

First a mooted change of name for Ewood and then this little snippet among the quotes from the company chairman. Where did she get this from and what might the manager have to say about it ? Not a good start by the new owners.

[philipl]

Given it is anglo-indian loose tongues time, I might as well join in and be hung for a rooster as for a pullet. Mrs. Desai has as good as said all these things already anyway.

VH are having a terrible time getting their cash out of India because of the bureaucracy wrapped around foreign exchange controls for Indian individuals. The £30m that has arrived is both later and less than should have arrived at this stage. There is absolutely no doubt that the Raos are good for the £54m. All credit to Mrs Desai for being up front about what has been transferred and what remains to be transferred.

The reason for the delayed payment of the three lots of £1m for shares bought from BRFCI (the Trust's company that held the shares) is apparently to safeguard provisions in the Walker Settlement. I understand VH have signed up to a raft of terms that Jack Walker had stipulated and all credit to them that they were very willing and happy to do so. Even then, the terms of the Settlement made it incredibly difficult for the Trust to disentangle itself from Rovers so the three years of £1m payment gives the Trust a sort of continuing audit over-sight over what happens in the early years of the Venky's ownership.

Does it have a real power over the Venky's?- not really the club has been sold.

Does it send a powerful signal that Jack Walker's legacy is to be maintained? - I'd say so.

Do I think the raft of newspaper reports from India appearing before we have any communication in Blackburn is a good idea? No. Not least because having spoken regularly with well-educated Indian Indians I know how divergent contemporary Indian and British use of English has become. I can well imagine that what Mrs Desai intended to convey when she talked about team confidence and how it has ended up in the reading by Rovers supporters could be rather different- that is probably just the most obvious of quite a few such examples.

Let's see whether we can get through the Villa game without the PR disaster of Jerome Anderson being presented with the Rao brothers. One thing to have brokered the deal but I for one would be horrified to see a football agent carrying on like a shadow director of Blackburn Rovers. The absence of Kentaro being mentioned in pretty well everything coming from the Venky's since the announcement of the sale completion has been very encouraging.

[Wing Wizard Windy Miller]

Philipl, I know you were concerned about the involvement of Kentaro but were happy to see Ms Desai involved with the club. In light of her comments do you still view her as positively. Personally if all these quotes are accurate, I can only hope Kentaro (or some people with a degree of knowledge about Premier league football) are going to be alot more proactive than first thought.

The PR from venkys is astoundingly bad.

To insinuate the players lack confidence and just need encouraging is ridiculous and completely undermines Sam'a position

From your info - are this company as clueless as they sound and how on earth did they impress the trust? have we just been sold down the river..

[broadsword]

See you at Ewood Park tomorrow.

D'oh!

Venky's Ewood!

The phrase "day of the match" will now be replaced by "Venky-time".

[philipl]

I see Mrs Desai as an incredibly accomplished and deeply successful business lady.

The comments are in many ways very ill-advised in a British-context but remember the visible advisor hitherto has always been Jerome Anderson, not the Rovers. We could be seeing his agenda at work in the comments about Sam and the team.

Hopefully, once John Williams gets to work with Mrs Desai, these early hiccups will get sorted out.

n the other hand, I see any involvemet by Kentaro in the decision making over recruitment selection, remuneration and management of the club's football side as a very rapid one-way route to utter disaster.