[Archived] Venky's Takeover Complete

[iacok]

I'd tell the ignorant dingle that burkas are worn by Muslim women our owners are not, they are Hindus.

Lighten up!!

[RibbleValleyRover]

Happy to see that it’s been resolved one way or the other.

We will never forget what Jack did for the club and even though the trust did not invest much to the disappointment of many fans, at least they didn't put us in a bad financial position.

End or an era but a necessary one in my view as we need money to remain competitive in this league. Hopefully the new owners will be able to put some in without having to borrow it (not looking for mega bucks- £10-15 million every season would be fine by me). No feelings or excitement or dread, I'm just eager to see what their plans are.

[imy9]

I am ecstatic! Just thought is that the best a dingle can up with? Where is Sam dingle?!

[roversnick]

OK, i gave up reading the takeover thread months ago, couldn't be bothered sorting through the posts of people bickering with each other.

I've read this thread and notice that a few are unhappy.

Could anybody kindly give me a brief run down of why they are unhappy with this news?

[alexanders]

Could anybody kindly give me a brief run down of why they are unhappy with this news?

Uncertainty.

It will in many occasions create negative feelings, because many people think the worst.

We have no clue and that is worrying for a lot of people.

[Fife Rover]

Will you still be happy when we are 100 Mil in debt and playing in the 1st Div facing a winding up order?

Lets just wait until it happens shall we?Before we start ordering the rope!!

[92er]

Thanks for the memories Uncle Jack - you were one of a kind.

Two of a kind-don't forget Lawrence Cotton.

I'd tell the ignorant dingle that burkas are worn by Muslim women our owners are not, they are Hindus.

I was just going to write that, but you beat me to it.

[Cortez]

I wish the new owners all the very best and I feel sure they will keep their promise to respect the history and reputation of our great club. Good luck to them.

To the Trust I say a big thankyou for looking after our interests for the past few years.

I am optimistic and excited by this development.

[sparky12]

fair play to iceman just a little unlucky!!

bob your a moron!! it should be him thats banned!!

and get vinjay back just for the weekend!!

oh and theres only one Jack Walker!!!

[wandel77]

Are we really not worth more?

But it shows me that it is not a big risk they took, that's a fraction of what Liverpool, Manchester Utd and other clubs are purchased.

We do not have what we know the great debt. So I choose to be positive about this, until the contrary is proved.

Spil som aldrig før på søndag og vis at vi hører til i toppen af ligaen

[yeti-dog]

OK, i gave up reading the takeover thread months ago, couldn't be bothered sorting through the posts of people bickering with each other.

I've read this thread and notice that a few are unhappy.

Could anybody kindly give me a brief run down of why they are unhappy with this news?

Sadly,it's because some people can't help but be miserable buggers!!

[67splitscreen]

Some one explain how, reading the article to other shareholders on the official site, there is mention to BRFCI having to give permission for certain changes to be made in the future.

The Rao's have bought all the shareholding in BRFCI so how can it have a voice.

[BPF]

Most idiotic comment of the day:

Ashley Smith (Chelsea fan) says...

I work for a credit refrancing agency, VENKYS LONDON LIMITED only established 13/10/2010 with no financial information behind them, or ven group Structure, their an Indian directorship, with not alot of investment! Hope they dont ruin Blackburn, but the signs ain't good. who are these owners?

[The Harwood Yankee]

Some one explain how, reading the article to other shareholders on the official site, there is mention to BRFCI having to give permission for certain changes to be made in the future.

The Rao's have bought all the shareholding in BRFCI so how can it have a voice.

Apparently Venkys have bought 99.9% of the shareholding, and are set to offer to buy the remaining 0.1% at the same rate. Maybe BRFCI retain some interest in that?

[1864roverite]

I have to say a massive thank you to the Walker Family and for the way our club has been run over the years since JW passed on. In particular, we all owe Jack Walker a massive debt. What he gave us Rovers fans lucky to see the club through those Halcyon years of success after so much heartbreak in the play offs and lower divisions is unmeasureable.

When I think back to the 70's, 80's and right up until 1991 I could never imagine my club being as successful as they have been.

That is all down to one mans ambition, will and generosity.

Jack Walker is simply a unique entity and his memory should live on at our club.

I welcome new owners and I welcome new investment. I just hope that our new owners share the same values, share some compassion for our club but also share the views of its supporters.

Being a Blackburn Rovers supporter is special. We have been there and conquered. We have been near to oblivion yet we survived and look at us now.

A new era begins lets start on Sunday. The game versus Villa should be a tribute to one man only - JACK WALKER.

[67splitscreen]

Apparently Venkys have bought 99.9% of the shareholding, and are set to offer to buy the remaining 0.1% at the same rate. Maybe BRFCI retain some interest in that?

Yes 99.9% of BRF&A last I heard was the other shareholders where fans as such. It also mention about renaming the JWS cannot be done without written permission, how could they put that control over a majority shareholder of 99.9%

We know they have got the club at a good price, just makes me think they have not got lock, stock and barrel in some way, Jack's wishes maybe do have a kick to them.

[den]

Some one explain how, reading the article to other shareholders on the official site, there is mention to BRFCI having to give permission for certain changes to be made in the future.

The Rao's have bought all the shareholding in BRFCI so how can it have a voice.

If you sell a piece of land with planning permission, you can place covenants on that land. A covenant is an agreement. That means, that although the buyer owns the land 100%, there are still restrictions that are applicable - I.E. there could be a covenant whereby no outbuildings can be erected on that land. You can put virtually anything by way of covenant. When you buy that land, you accept the covenant. To get the restrictions lifted, the landowner needs the written consent of the seller.

I assume the same principle applies to this takeover.

Apparently Venkys have bought 99.9% of the shareholding, and are set to offer to buy the remaining 0.1% at the same rate. Maybe BRFCI retain some interest in that?

No. The 0.1% shares are privately owned by people who didn't sell to Jack Walker.

[broadsword]

So, we've been sold to a bunch of lank-haired, medallion-wearing battery hen merchants. Who'd have thought?

Stop trying ot put a positive spin on things.

[67splitscreen]

If you sell a piece of land with planning permission, you can place covenants on that land. A covenant is an agreement. That means, that although the buyer owns the land 100%, there are still restrictions that are applicable - I.E. there could be a covenant whereby no outbuildings can be erected on that land. You can put virtually anything by way of covenant. When you buy that land, you accept the covenant. To get the restrictions lifted, the landowner needs the written consent of the seller.

I assume the same principle applies to this takeover.

No. The 0.1% shares are privately owned by people who didn't sell to Jack Walker.

So it could be fair to assume that further covenants regarding Brockhall and Ewood Park itself have been put into place to protect them infinitum unless agreed by BRFCI.

[den]

So it could be fair to assume that further covenants regarding Brockhall and Ewood Park itself have been put into place to protect them infinitum unless agreed by BRFCI.

I really don't know whether that's the case, but it's possible. It could well be, that Vekny's own Brockhall and Ewood Park, but are severely restricted with what they can actually do with them. There could be an agreement that Brockhall can never be developed without consent from the sellers.

I know about covenants because my daughter bought land with a covenant on it. I'm just trying to highlight the fact that even though Venky's own all of the club, they could be legally restricted with what they can actually do with it.

[67splitscreen]

I really don't know whether that's the case, but it's possible. For sure though, even though Venky's own the club 100%, there are probably agreements that they legally have to abide by.

Hidden secrets then for the next takeover thread.

[SamDingle]

This is a great day for football.

For those of you, and there are plenty, who don't know what life was like before 'uncle' Jack, you're about to find out. If you're lucky.

[Mattyblue]

This is a great day for football.

For those of you, and there are plenty, who don't know what life was like before 'uncle' Jack, you're about to find out. If you're lucky.

Bitterness just oozes out of you!

Well as we have spent nowt for 5 years and are still at the top table proves how fantastically we have been run POST Jack Walker.

Still, the richest team in the Championship aren't pulling up any trees, are they? Now is that because of a poor manager or that Flood et al are filling their boots with the Premier League loot?!

[imy9]

Cheers Sam, thanks for turning up, it has made a great day better.

Dont worry about us mate, we are now debt free and moving forward in the Premier league- you can worry about making the play offs in the league below us- its been so long since we were last there that I cannot remember the name of it, you will obviously know better than any Rovers fan.

Oh well sure you will turn up again at some point if Burnley face Blackburn to gloat about what Burnley are going to do to us... what was the score again Sammy boy?

[G Somerset Rover]

Do one Dingle.

I'm hopeful yet wary of the future. I pray that the Trust have sold to the best possible people, but guess we'll find out over the coming months/years.

I'm off for a chicken curry to celebrate.