[Archived] Some Thoughts On Recent Events

[philipl]

I am led to believe that Brockhall and Ewood will, allegedly, belong to Venky's after a period of 21 years. During this period the trust will receive an annual lease payment.

What would seem like a complicated arrangement would actually prevent two of the clubs major assets from being used in any asset stripping process.

Would be good news if true but there is no outwards sign of this arrangement in any of the documentation I have read.

[roverwhelmed]

I am led to believe that Brockhall and Ewood will, allegedly, belong to Venky's after a period of 21 years. During this period the trust will receive an annual lease payment.

What would seem like a complicated arrangement would actually prevent two of the clubs major assets from being used in any asset stripping process.

This floods me with relief - misguided possibly.

Maybe we could reclaim Ewood and become FC Rovers of Blackburn!!!!!!

[Steve Moss]

Putting the pieces together, this is the current position as I see it.

. . .

3) Kentaro will supply Rovers with all our players in January as there is no other stable who will supply players to us and Kean could not attract anybody.

4) Kentaro have persuaded the Rao family to spend far more than they planned to in January and probably far more than they have actually got.

In fairness, this is very good news if the club gets good value of the money spent. And I don't care if Kentaro get a commission so long as we move up the table.

My concern is whether the money is coming from Venkys or debt against the club. If debt, I would be very concerned.

. . .

However, reading Mrs. Desai's interview it is clear that Venky's have no plan B. Although she indicates that there will be more than £5 million available she has said that Kean will have the final say, after consultation with the owners, on how it will be spent. Yet, at the same time as the caretaker manager is spending her money, the owners will be "researching and looking at the various options" with regard to a new manager.

A decision on the new manager is not likely to be taken before March with Kean being given three months or so to prove he is the man for the job.

However, if results don't go well I assume Mrs Desai will appoint a new manager who will have to rescue the club with players that he didn't sign and perhaps doesn't want. . . .

This is the sticking point for me. I see no reason to place the club's PL survival in the hands of a person, however talented, without any PL experience. If they had fired Sam and put in place an experienced hand immediately, I would have been calm and, depending on who appointed, perhaps even excited.

But there is no apparent gain in what they did and that undermines my confidence in their judgment. It seems far too impulsive. But I'm still hoping that Kean is the next SAF.

. . .

Despite Sam's successes, I firmly believe that he is not the manager for ambitious owners with a healthy war chest. To be fair to the Rao's, I wouldn't want to entrust my hard earned cash with Sam, . . .

Gamst, your post was very good. If I owned the Rovers and had the cash, I question whether I would have trusted him to make the right moves also. But the focus should have been getting to the end of the year, go with a small influx of 5 million in January, then make the change (and invest the substantial cash). There would be plenty of time to right the ship in the summer, as opposed to doing it when there is one team after another coming at us and points slipping by because of chaos and morale issues.

. . .

But Mrs Desai has rubbished the speculation and insists Kentaro, or SEM, have no special relationship with them.

“We do not have any exclusive agreement with Kentaro,” she said. “They are one of the groups who are consulting us but they are not the only one. What has been written is not true."

This is reassuring. Getting advice is an excellent idea, though I prefer they rely on JW and the manager. But second (and even third) opinions are fine and to be encouraged.

I am led to believe that Brockhall and Ewood will, allegedly, belong to Venky's after a period of 21 years. During this period the trust will receive an annual lease payment.

If true, this is excellent. It actually demonstrates the Trust's prudence and Venkys good faith.

There are some silver linings. The root of the problem as I see it is not Kentaro, its the uncertainty surrounding who is going to be the manager. If Venkys does not have a 100% trust in Kean (and it appears they don't based upon their temporary appointment), then they should get in the man they do trust 100% ASAP.

[chris]

Yeah the truth is Venky's are saying some really good things is so easy to focus and twist the words for the bad things.

I guess time will tell.

Keep an open mind for now.

Most people are just scared to death, causing most the worry.

[Wiggy]

Would be good news if true but there is no outwards sign of this arrangement in any of the documentation I have read.

Philip when I was told this, I began to ponder something that has confused me about the offer.

Venky's state that it is a £54 million deal. This is made up of £23 million for the shares, £16 million for the debt and a £5 million injection for immediate transfers.

This obviously leaves £10 million. Could this be the amount of money for a 21 year lease?

Is Brockhall or indeed Ewood down on the books as an asset of BRFCI, or another business?

Any ideas about the 'missing' £10 million?

[SIMON GARNERS 194]

Watching 20 years of stabiltiy being thrown away in a week has hurt me greatly, it's all ok if we spend this mythic 5 million in January, I suppose.

And there is the bitterest,bitterest pill to swallow.20 years of hard work both on and off the field of play being possibly thrown away by rank amatuers.

If Venky's get this wrong as many fear,this time next year it could be a midweek fixture at home to Scunthorpe infront of 12,000....it might as well be 1990 all over again.Personally,I dont want to go back to that.

Well never mind folk's,we'll still have those memories of lifting the Prem Trophy,of great days in Cardiff and Rotterdam.

There but for the grace of God go we

[DanLad]

Philip when I was told this, I began to ponder something that has confused me about the offer.

Venky's state that it is a £54 million deal. This is made up of £23 million for the shares, £16 million for the debt and a £5 million injection for immediate transfers.

This obviously leaves £10 million. Could this be the amount of money for a 21 year lease?

Is Brockhall or indeed Ewood down on the books as an asset of BRFCI, or another business?

Any ideas about the 'missing' £10 million?

Agency charges?

[67splitscreen]

I forget the exact quote but the 15m difference, Ms Desai said it was for the 'betterment of the club'. That was over a month ago so no doubt she will have changed her mind at least three times.

[philipl]

Just to repeat, I have not seen anything that supports the contention that there is some sort of long term lease from the Trust to Venky's.

The sale deal comprises:

£20m purchase of shares from BRFCI - the Trust company which owned Rovers

£10m paid on the day of the sale cash injection into Rovers for the betterment of the club

£ 5m which was due to be paid within 15 days- also for the club's coffers for its betterment

£ 3m payable in three annual £1m instalments for the balance on the share purchase from BRFCI which keeps a Trust stake in the Rovers

£16m debt transferred from the books of Rovers and assumed by Venky's (I now understand the full explanation of this; quite why Venky's were so shy about explaining this good news for Rovers, I do not understand).

£54m total

[imy9]

When you assumed Phillip do you mean cleared or taken on debt, thanks.

[Kelbo]

When you assumed Phillip do you mean cleared or taken on debt, thanks.

Cleared or taken on, not Rovers debt anymore.

[chris]

Just to repeat, I have not seen anything that supports the contention that there is some sort of long term lease from the Trust to Venky's.

The sale deal comprises:

£20m purchase of shares from BRFCI - the Trust company which owned Rovers

£10m paid on the day of the sale cash injection into Rovers for the betterment of the club

£ 5m which was due to be paid within 15 days- also for the club's coffers for its betterment

£ 3m payable in three annual £1m instalments for the balance on the share purchase from BRFCI which keeps a Trust stake in the Rovers

£16m debt transferred from the books of Rovers and assumed by Venky's (I now understand the full explanation of this; quite why Venky's were so shy about explaining this good news for Rovers, I do not understand).

£54m total

They probably didn't post all the details on the internet, I'm guessing your sources are the internet only and hear say

[67splitscreen]

They probably didn't post all the details on the internet, I'm guessing your sources are the internet only and hear say

Download

[philipl]

They probably didn't post all the details on the internet, I'm guessing your sources are the internet only and hear say

Yes- from Mrs D.

(In two of her many interviews with the Indian press in the week following the purchase- it has all been posted on this MB before)

[Giant]

I'm sick of all this negativity. New boss sacks existing manager whose media and football cronies come out in mass protest about it. It's hardly the same as some poor council worker losing his job as a result of cutbacks. The candle lit media performance at the Last Drop Hotel in Bolton takes the biscuit - bitter ex-manager slags off the coach he appointed. Someone did the dirty on me, when I find out who I'm going to tell the world - grow up. I really hope that the Venky's get this right and can move us on, if they cannot or prove to be as corrupt as some are suggesting then we can the point the finger of blame at the real people who let them buy the club, namely the Walker Trust, the Premier League, John Williams etc.

[John]

The whole thing is sickening and the agent connection is an offensive conflict of interest in all this.

[Fife Rover]

Don't forget Wiggy's post guys.

I also now believe that Sam's sacking was nothing to do with his past transfer record, or his brand of football. Venky's do have a plan, or should I say they've been advised of a way they can make money out of BRFC - and Sam wasn't part of it.

Oh dear! I DO hope you're not joining the ranks of the "I know something you don't know" brigade Den. We already have more than enough of those thanks very much!

[Fife Rover]

I have pondered this being an asset stripping exercise. Sell our best players, bring in Kentaro journeymen to replace them. WE go down, THEY get the parachute payments, potentially easily covering their initial outlay, then sell us at an effective loss having in reality made money out of destroying us.

Then they reveal that they have been lifelong Dingle supporters. Brilliant strategy!

[den]

Oh dear! I DO hope you're not joining the ranks of the "I know something you don't know" brigade Den. We already have more than enough of those thanks very much!

No, I don't know any more than anyone else Fife. I have however, realised what this deal is all about. I've also realised that there's more to come. and it aint good, believe me.

[philipl]

No, I don't know any more than anyone else Fife. I have however, realised what this deal is all about. I've also realised that there's more to come. and it aint good, believe me.

It is quite unbelievable but because of the Anderson connection, Rovers are dangerously isolated and utterly friendless.

If the Rao family don't immediately restore John Williams to full responsibilities as club chairman, there is one heck of a car crash coming. If we think the last ten days has been bad, I fear there is far worse ahead.

[LeChuck]

You know what...I don't even blame Venky's/the Rao family.

I blame the Walker trust. How could they sell us to these people?

[jim mk2]

You know what...I don't even blame Venky's/the Rao family.

I blame the Walker trust. How could they sell us to these people?

Taken you a long time to work that one out - well done !

[LeChuck]

Thanks.

[Steve Moss]

I forget the exact quote but the 15m difference, Ms Desai said it was for the 'betterment of the club'.

Hasn't JW been beating the drums about necessary physical improvements to the pitch, stadium and Brockall? I tend to remember a drainage issue with the pitch, for example. Is that what is meant by "betterment of the club"?

[bob fleming]

No, I don't know any more than anyone else Fife. I have however, realised what this deal is all about. I've also realised that there's more to come. and it aint good, believe me.

This sort of thing Den?

Jerome Anderson - Guardian I posted this link the other day, just in vase anyone missed it...

Snippets...

"Anderson was key to sealing the deals for City to sign eight players, all foreign, between the July 13, £8.8m signing of Roland Bianchi from Reggina, and August 3, when Valeri Bojinov joined City from Fiorentina."

"Anderson, too, considered City one of the English game's true sleeping giants, and at £21.6m, plus £17.5m for the loans of the former major shareholders John Wardle and David Makin, very good value." Staggeringly similar amounts to those paid for BRFC.

"Anderson then introduced Thaksin to Keith Harris" - if Orville is involved as well we're well and truly fu doomed. Mind you, the way it's going the green get will probably be Chairman this time next week.

"Some observers wondered whether so many new players could gel, and whether City had overpaid, for example paying £8.8m for Bianchi," He played for City for 6 months.