[Archived] Venky's Takeover Complete

[Damage]

tel you what..... I don't give a eff you see kay about chickens but we better get some decent stewards because if I was an animal rights pressure group I would buy 100 season tickets in riverside and have big demos every single match - cheapest publicity on the globe! and the worst publicity for our club ever. this is a disaster! can't believe anyone can see any positives with this. minus two (maybe more) season tickets in my party.

[ben_the_beast]

I believe this post was originally by Benisfromheaven?? (Not sure on that though as I copy and pasted to my laptop). It was a post from when Paul Ince was placed in charge which really resonated with me and I feel is very fitting now. A post which captures how some might feel but more importantly an attitude which everyone could do well to adopt. I hope he does not mind me posting this. If so a PM and I shall remove it.

In 1993, a 13 year old Dublin lad chose a team to support. Would he go with his 2 older brothers & what seemed like half the world & support the famous Manchester united? What about the European heavywieghts from mersey side? Or the Birmingham club which contained some many of his countrymen?

Always wanting to be unique he decided upon a small town club with huge ambitions harboured by its new owner, Jack Walker. A club who he saw character in, the character that he would encorporate into his own personality & try live by the moto 'Arte et labore'. That club is Blackburn Rovers FC.

Success has come at a cost for Rovers & i have ridden every wave, the championship win, Dalglaish & more heartbreaking, Shearers departure, the moscow bustup, Martin Dahlin signs! wilcox on the wing, Ericson accepts, Ericsson declines, 7-2 over Wedensday, Hoddle hates sutton, 7.5mil for davies, Transfer deadline day, will we sign sol campbell? Na, lets have christian dailly!! the scoreless draw at home to Manchester United, Relegation, Darren Peacock, loosing to huddersfield town the first day of the season in the new league, Kidd sacked, souness arrives ....not that as***le!?! Duff, Dunn, 5 irish players in the first team, Supper Matty Jansen, Preston North end, PROMOTION!!!!!!! 8 million for andy cole, millenium stadium underdogs, mark hughes bosses the midfield, Is Jansen going to the world cup? yep, in a wheel chair! Grabbi, Ostenstads law degree, John Stead, pre-season at bray wanderers, Chop Souey? Hughes for manager!!!!! 4-0 to boro, 4-0 to chelsea ......SURVIVAL!!! Craig bellamy, benni macarthy, roque santa cruz, Bentleys hattrick, winning in europe, knowing hughes is going to leave for a bigger club someday!!

I may not even be in the same country as the club i support & dont get to see them as much as i want but i have cried every tear & roared every cheer.

I started this post with the intention of saying that 13 year old kids dream has died today but having remembered all those ups, downs & mediocroty .....Im feeling optomistic, I have just listed some of my lifes overwhelming memories & I wouldnt change one of them. This club will no doubt have more downs but you can only savour the sweet when you have tasted the bitter.

So, Paul Ince is going to be the new manager? Venky's are the new owners? mmmmm?? theres only one thing left to do....... strap myself in, put my hands in the air & Sing for the Blue & White Army!!!!'

COME ON YOU ROVERS!!!!

[broadsword]

Whilst I certainly have misgivings, there's absolutely nothing I can do except sit and wait and see how it turns out.

The only way in which I "trusted the Trust" was in the way that I trusted them to do what's right for them.

It's a huge step into the unknown, but I've gone from fretting about it to being fatalistic. Live sitar music before kick-off, players training being changed from football drills to marathon sessions of kabadi, Sam Allardyce having a third eye painted on and watching from the sidelines doing a sequence of yoga positions, the ticket office hotline being outsourced to somewhere in India, chickens having sex on the pitch in front of the family stand ... I've tasted the future and it's garlic chicken.

[Fraserkirky]

I believe this post was originally by Benisfromheaven?? (Not sure on that though as I copy and pasted to my laptop). It was a post from when Paul Ince was placed in charge which really resonated with me and I feel is very fitting now. A post which captures how some might feel but more importantly an attitude which everyone could do well to adopt. I hope he does not mind me posting this. If so a PM and I shall remove it.

I enjoyed that, nice post.

[Steve Moss]

I hopeful that this is the beginnings of a new, succesful chapter in Rovers history.

[Blueboy Downunder]

I hopeful that this is the beginnings of a new, succesful chapter in Rovers history.

here here mate, i am totally in agreeance....COME ON YOU ROVERS!!

[Rover Down Under]

Hallelujah! It's over.

Thanks to Phil et al. for informative the posts. Perhaps someone could answer a couple of questions I have:

1. Why is David Brown leaving?

2. What, if any, are Venky's plans for marketing Rovers in India?

3. Leaglly if Venky's London goes under where would that leave Rovers?

[philipl]

Hallelujah! It's over.

Thanks to Phil et al. for informative the posts. Perhaps someone could answer a couple of questions I have:

1. Why is David Brown leaving?

2. What, if any, are Venky's plans for marketing Rovers in India?

3. Leaglly if Venky's London goes under where would that leave Rovers?

1. This is a normal move. First thing you have to remember is that Directors legally represent nobody except themselves on the Board but owners vote Directors on whom they trust and respect. To that end, you will see a "Trust person" sitting in the Vice-Chairmanship" of every company they have a significant interest in and in no companies in which they have no interest in.

I see David Brown as having been an unsung hero at Rovers over the time he has been with us and I think we owe him personally a deep debt of gratitude.

2. There is a flavour in the offer letter to the minority shareholders which is pinned in the News thread by Glenn. Whatever their plans, they had better get on with it immediately- as I posted in the Venky's Marketing thread, Rovers are going to be the only club with Indian ownership for a tiny little window in all probability. Like every nationality, Indians hunt in packs- we have already had three prospective Indian buyers at Ewood and despite the denials which eventually came I don't think the Mahindras and Tatas are simply disinterested observers either.

I believe that the new owners read this thread and I am sure they will understand my drift when I say that they know whom posters from this messageboard managed to talk to in their network over the past several weeks and with one exception they were the least accessible of the actual and rumoured bidders for Rovers.

3. At present, there is no risk to Venky's London- it is simply a UK holding company as far as I can see. In future it will be a question of how inter-related it is with Rovers. West Ham's owners went bust and got liquidated without PL impact because it was a general holding company whereas if Hicks and Gillette's holding company had gone, Liverpool would have been penalised- Kop Football simply existed because of LFC. Moving away from the technical answer, yes we are very dependent on the fortunes of VH and Mrs Desai successfully achieving her corporate strategy.

[accyrover]

I've kept fairly quiet during this long, laborious process, but now its done I need to stick my two-penneth in. I feel incredibly concerned about all of this, especially the fact that Venky's openly admit to wanting to use Rovers as a marketing vehicle to 'up' their profile in the UK and Europe. I dont believe the Trust have always had Rovers best intrests at heart, given the fact they refused to release funds whilst the club was openly in the shop window. £46 m is a nice Xmas present for The Trust.

I am concerned about investment, and the statement that are are content with us being a mid table team - minimal investment on their part for huge exposure in The Premier league. Good marketing for Venky's. Poor business for Rovers. I hope I wrong, but mediocre is all we'll ever be under this lot.

Accyrover

[Mike Graham]

I've kept fairly quiet during this long, laborious process, but now its done I need to stick my two-penneth in. I feel incredibly concerned about all of this, especially the fact that Venky's openly admit to wanting to use Rovers as a marketing vehicle to 'up' their profile in the UK and Europe. I dont believe the Trust have always had Rovers best intrests at heart, given the fact they refused to release funds whilst the club was openly in the shop window. £46 m is a nice Xmas present for The Trust.

I am concerned about investment, and the statement that are are content with us being a mid table team - minimal investment on their part for huge exposure in The Premier league. Good marketing for Venky's. Poor business for Rovers. I hope I wrong, but mediocre is all we'll ever be under this lot.

Accyrover

Accy....I agree 100%.

Venky's = bad news

Trust = money grabbing s@um

[philipl]

I think we need to be clear about the numbers being paid.

It is a bit over £23m for the shares help by the Trust (which means the Walker family have given the Rovers about £160m net in cash down the years plus all their time and professional fees plus the money Jack quietly paid in previously). I believe Rovers had £16m in bank debt and that is being paid off right now out of the transferred funds from VH and the balance comprises repayment of the loans the Trust paid into Rovers at zero interest since they said they were "not going to put any more in".

[Paul]

Underwhelmed is how I feel. I had rather hoped the new owners would have a statement for the support about how they see the future. If today's Guardian is correct it will be same old, same old.

So I remain undecided on whether this is a positive or negative move. My support for the new regime is there to be won over. It's now for VH to prove themselves. The fans have proved their loyalty over decades, we'll have to wait and see for the Rao family.

Ah well Villa tomorrow, as the paper says "the moveable object is meeting the resistible force."

[PAFELL]

I think we need to be clear about the numbers being paid.

It is a bit over £23m for the shares help by the Trust (which means the Walker family have given the Rovers about £160m net in cash down the years plus all their time and professional fees plus the money Jack quietly paid in previously). I believe Rovers had £16m in bank debt and that is being paid off right now out of the transferred funds from VH and the balance comprises repayment of the loans the Trust paid into Rovers at zero interest since they said they were "not going to put any more in".

Where in the offer document does it say they will pay of the debts. The LT, I think said it was uncertain if the debt was being paid.

[philipl]

I suspect that when the money went to BRFCI, they paid down the debt out of the Venky's transfer at the time of the completion of the deal.

The bank lending to Rovers probably had some sort of security back to the parent (another example of the Trust's generosity) and that would have fallen when ownership transferred so the debt needed to be cleared before Venky's London took ownership of the shares.

I understand that all four bidders who got to agreement with the Trust on valuation to be paid for the club did so on the basis of inheriting a debt-free club. The mechanics which would have been involved with one of the other bidders are known so I can only assume the same applies to Venky's.

[magicalmortensleftpeg]

Accy....I agree 100%.

Venky's = bad news

Trust = money grabbing s@um

Surely if they wanted just money they would have jumped on board with Syed Ali??? By going with Venky's they swerved the money in order to place us in safer hands for the future... Make sense?

[MCMC1875]

I don't really know what to say about this news. Sad as it sounds, Rovers have been the one thing in my life that has stayed with me since I was a little kid. From 1980 ish until Jack Walker days, it was a great laugh, never really expected us to win anything, just a little town team with a crumbling old ground, much the same as most teams around here. Then Jack did what he did, and it was wondeful and enjoeed nearly every minute of it, good times and bad.

But all my living memories have Rovers printed in them, and my overriding feeling at todays announcement is of real sadness-a feeling that the party is over.

I have the same opinion Oz.

I will not watch Rovers again until the club is British owned AND has a new manager.

[LeChuck]

Like most I'm still really unsure what to think.

One thing I am certain of though, they will try something relatively radical to boost our marketing appeal in the near future. Whether it's something like a change of the stadium name or something more inventive I'm not sure, but I don't think they'll just continue to run the club in its current state but with more transfer money.

Edit: By the way...do we have anyone on here who has relatives in India? I'd love to know how big this news is over there (my guess is not anywhere near as big as we would like).

[magicalmortensleftpeg]

I have the same opinion Oz.

I will not watch Rovers again until the club is British owned AND has a new manager.

So you wont support Rovers unless they have a manager you like...

And you call yourself a fan??

[Clitherover]

I have the same opinion Oz.

I will not watch Rovers again until the club is British owned AND has a new manager.

Don't hit your arse on the door on the way out then.

[The Gull]

Some people need a reality check.

We do not know what the future holds, time will tell, so to jump one way or the other on the slim pickings of details most people have on our new owners is daft.

The club has stagnated over the past few years, which in this league means you can quite easily watch everyone zoom past you.

The management of the club, not the trust, have worked within their means to ensure we are still Premier League club with little debt in comparison to those we are competing with.

I am glad we haven't got new owners promising to invest £1bn and make us world beaters. That might have been a nice ride while it lasted but would definately have meant the end of our club once they got bored.

The new owners are neither saints or sinners with me as of yet, but one thing in their favour is that they have not indicated flashing money willy and quite frankly nilly.

I feel both optimistic and a little concerned as to what the future holds, but quite frankly I haven't Fealt any different in my 30 years as a Rovers fan, except during the Dalglish era of course.

I will continue to support my club unreservedly and monitor the new owners before deciding on them, but my support for the team will not change.

I believe everyone is allowed their own opinion and I respect that, but please try and base your opinions and arguments on something more substantial than your gut feeling or instincts on foreign owners.

Time will tell, just as it has always been.

[ada2020]

I have the same opinion Oz.

I will not watch Rovers again until the club is British owned AND has a new manager.

Enjoy your Saturday afternoon's shopping with the missus for the foreseable future then!

[PAFELL]

Accy....I agree 100%.

Venky's = bad news

Trust = money grabbing s@um

They sell the club for 23 mill and yet they have put in a lot more. Are you forgetting how much Jack Walker put into Rovers - well over 100 million, which is a lot more than 23 mill?

The trust was his idea, they have looked after the club ever since Jack died. The Walker family's return for what they have given, money they have spent, time, effort etc is 23 million.

I have the same opinion Oz.

I will not watch Rovers again until the club is British owned AND has a new manager.

Bye bye dingle

[den]

I am glad we haven't got new owners promising to invest £1bn and make us world beaters. That might have been a nice ride while it lasted but would definately have meant the end of our club once they got bored.

I would have liked owners with loads of money, it's better than owners with no money isn't it? Ask the Chelsea fans if they would have preferred an owner with little cash?

I don't understand this viewpoint that having loads of money is a no-no.

[chaddyrovers]

I understand that all four bidders who got to agreement with the Trust on valuation to be paid for the club did so on the basis of inheriting a debt-free club. The mechanics which would have been involved with one of the other bidders are known so I can only assume the same applies to Venky's.

Philipl, who are the fourth bidder? I can onlt think of three bidders, Venky's, Syed Ali and Shah!

[PAFELL]

Underwhelmed is how I feel. I had rather hoped the new owners would have a statement for the support about how they see the future. If today's Guardian is correct it will be same old, same old.

So I remain undecided on whether this is a positive or negative move. My support for the new regime is there to be won over. It's now for VH to prove themselves. The fans have proved their loyalty over decades, we'll have to wait and see for the Rao family.

Ah well Villa tomorrow, as the paper says "the moveable object is meeting the resistible force."

I suppose until they have had the chance to talk to the club personal, the manager etc they will hold back with the making of a statement. The transition from one owner to another is bound to take awhile. JW will be given his instructions etc and eventually we will hear things - hopefully see things as they develop.

Lets be honest the takeover has only just happened.