[Archived] Rumour: Venky's To Sell?

[philipl]

Do you think the most likely outcome is that Venky's will sell? I hope and pray that the deal won't be jeopardized due to the stubbornness of the Barry White lookalike (I've heard that he's the only one not keen on selling).

Let's put it this way, without Balaji's interventions I believe a sale would be close to a certainty and we are probably hearing this about "Barry White" from different people.

so it is Venky's holding company that now has the loan that was previous the walker's family loan?

I don't get why the owners just didn't pay the loan off when they bought the club. I know, that is far too easy to do.

Chaddy, there are TWO loans. One held by Venky's London taken over from the Trust and one the Rovers took out in December which expired on 30 June and has gobbled up the Phil Jones transfer.

The owners didn't pay off the Trust overdraft because they are simply not rich enough to have that sort of cash lying around.

[Wing Wizard Windy Miller]

Balaji parked £49m of his own cash in the club during the spring which gave everyone (including me) a safe feeling we'd be OK if we went down. It also conned Kean and Kentaro into thinking the good time transfers were about to roll. The reality was that it was there to buy Neymar or someone of his ilk and it presumably disappeared when Mrs D hit the reality button.

Probably being a bit naive here but would the bank not have seized part of that money? Would it not also give credence to the fact they could potentially fund a small spending spree ...if they wanted?

[chaddyrovers]

Thanks Philipl for explaining that to me. Very much appreciate.

[philipl]

Probably being a bit naive here but would the bank not have seized part of that money?

The Bank security is very specific. That we know for certain because it is filed for all to see at Companies House and I have a copy of it.

[hawkiiz]

Yeah, where did the £49m go? And why is it suddenly impossible to spend that or some of that money now?

And BPF, by cold hard facts, what are those facts? All I have seen on here is your words (and others of course), but on what basis should I take that as cold hard facts? I'm sorry if I missed something.

[adsfortheblues]

We've been promised "good news tomorrow" every single flipping day and it's getting so boring now, it's dammed obvious that something is wrong, are people just to naive to realise that?

[Wing Wizard Windy Miller]

The Bank security is very specific. That we know for certain because it is filed for all to see at Companies House and I have a copy of it.

Not well up on finacial eticate...so I'm assuming that means the bank couldn't touch the £49 mil?

[mike at picture]

I hope your first question will be 'why did you sell the club'

I would have thought "why did you buy the club?" would be more pertinent.

[philipl]

Yeah, where did the £49m go? And why is it suddenly impossible to spend that or some of that money now?

And BPF, by cold hard facts, what are those facts? All I have seen on here is your words (and others of course), but on what basis should I take that as cold hard facts? I'm sorry if I missed something.

Remember nicko saying it was complete mayhem about transfers three to four weeks ago? Those people were not working for nothing but it seems nothing had prepared Venky's for the size of the bills they received from all their loveable agent friends for time spent on wild goose chases.

That shock made Mrs D take even tighter personal control over all spending at Rovers, including and especially transfers. It seems Balaji takes a lot of the blame for the mayhem.

The £49m might still be at Rovers but the change in transfer stance, the bank having to go for the Phil Jones money and the absence of incoming transfers all point to Balaji pulling it back.

[beerwins]

So.........does this mean we are'nt buying Luca Toni?

Venky's have to be the worst owners in history of football, a halfarsed fan could have done a better job than them.

What makes me truly weep is that they sacked all the people in the know purely because of their own arrogance and bad guidance, people joke about the tea lady but I bet she would have done a better job.

I would say it serves them right but it screws us over at the same time.

Please leave now and dont try to save what face you have because we just dont care anymore.

[philipl]

Not well up on finacial eticate...so I'm assuming that means the bank couldn't touch the £49 mil?

Yes the security was over Rovers' income, not shareholder funds.

[Wing Wizard Windy Miller]

Yes the security was over Rovers' income, not shareholder funds.

lol no laughing matter but I guess we paid the Jones money into the wrong account then!

Thanks for all your input on this thread Phillip - helps simplify things for alot of us.

[Hughesy]

I can back up all of it.

Seen the bank account?

[roverandout]

so basically venkys have fooked us over big time. Why dont they go and crawl back under that stone, back in india, where they came from.

[bringdunnback]

I must say I was one of those conned by Venkys, after hearing all these reports which are seemingly being confirmed by all those 'in the know' such as philipl, kamy nicko etc I am extremely worried about the future of this once great well run club. My fear now is that Balaji is not going to want to give up his toy, a toy which so many of us cherish and he doesn't realise the ramifications that his pure naivety and ignorance is bringing. Even if we were taken over, we will have still lost the like John Williams and Tom Finn and for this Venkys can't be forgiven. Having said that I will always believe that Venkys have Rovers best interests at heart, they just didnt realise how much it costs to run a football club. They were badly advised and in truth they themselves were probably conned by Kentaro/SEM. For all their naivety I hope they see sense and sell our football club to people who know what they are doing.

Whats the situation regarding the podcast this week, as I'm sure it would make for a very interesting listen.

[Neal]

I think we should do a weekly pool for the Euro millions lottery.

I love a plan.

[roverandout]

bringbackdunn, i dont beleive these conartists ever had 'rovers best interests at heart', they were just out to make a name for themselves, to promote their brand. Dont know why people are stilling sticking up for them or seeing the good in them. They have set us back god know's how long with their poor decisions and mismanagement.

[dring1]

ARE YOU LISTENING VENKYS. WE WANT YOU OUT. YOU CAN'T AFFORD US SO TIME TOMOVE ON AND DON'T LET THE DOOR HIT YOU ON THE WAY OUT. PROMISES, SIMPLY WE HAVE BEEN LIED TO AND WANT ANSERS

[RoverInverness]

Blackburn are facing a transfer crisis - with their Indian owners told to cut the clubs overdraft before they can buy

Read more: http://www.mirrorfootball.co.uk/transfer-news/Blackburn-Rovers-face-transfer-crisis-as-Phil-Jones-to-Manchester-United-money-used-for-overdraft-and-Chris-Samba-could-leave-for-Arsenal-or-Tottenham-Hotspur-article771592.html#ixzz1SP3RenvG

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It is very interesting - and perhaps concerning - that Nicko has choosen not to run with the transfer rumours at any point in this article. I know he branded the potential buyers as timewasters, but does anyone know why he has come to this conclusion?

As much as we all hope the club is sold we must not let ourselves be blinded by hope. After all, it doesn't really make sense that a great potential owner never thought about buying us all the time the trust had us up for sale, but now has suddenly decided to invest in a loss making small town club.

Perhaps Nicko is right in judging that the sale is never going to happen, and is therefore irrelevant. He will be well aware that talks have taken place. We can not ignore the fact that he is choosing to ignore the takeover possibility. It would have a made at least as good a tale as 'Barclays have nicked their PJ cash'. I also don't see that he could be trying to win favour with Venkys by not mentioning the talks - the printed tale is not him acting as their spin doctor.

[Torgeir]

So Balaji doesn't want to play this game unless he can buy mega stars? So much for building brick by brick... Stuck with the guaranteed £5m this window then, or is that money gone too? What a rollercoaster ride, all we can hope for is that we come out of it with a bit of tarnished reputation (that can be rebuilt) and the possibility to turn things around in time. If Venky's have realised they don't have what it takes, then I hope we can get someone new in fast who can.

It's all so stressful I might have to buy a wig soon :/

[Miker]

I haven't commented much on this topic yet, but I have two things I want to add:

1.) If there is indeed a crisis going on behind the scenes that can potentially have a negative impact on the football club and the people "in the know" truly care about this club, they should be doing the responsible thing and revealing their sources and publishing this as fact. There is absolutely no point of rumour-mongering anymore, if things are indeed as bad as being said. Responsible journalism is about uncovering the truth and posting it in the public domain with the backup of sources and not mere supposition. So I repeat, if the situation is as bad as being said, you HAVE to reveal your sources now, so that the fans can at least try and do something about it.

2.) I seem to remember that prior to being sold to Venky's, Syed was actively interested in the club and reportedly had a link to Venky's, where they were going to take over the club as a partnership, until Venky's decided to go solo. It would make sense to me that while Venky's were interested in the perks of owning a football club and are serious about promoting football in India and building Blackburn Rovers into a solid Premier League team, they have been lacking the investment they were hoping to get from a business partner such as Syed.

With the talk of Venky's selling, it would make little sense to me that they would want to sell the club outright and just disappear, but it does make a lot of sense that they want to bring another investor in, to help pump money into the club and work alongside them. So, personally, I wouldn't be surprised to see these Arab billionaires come in and buy a high percentage stake in the club, but I don't see Venky's going away at this point. In my opinion, they seem genuinely interested in running the club and making it a success, but likely lack the funds to do so.

[blueboy3333]

So, just to clarify:-

1. Venky's didn't pay off the existing £20m overdraft when they took over the club?

2. They took on another overdraft which expired on June 30th and they've had to sell Jones to pay it off?

3. Apart from the purchase of the club can it be deduced that they've put absolutely no money of their own into the club?

[Veevs]

So, just to clarify:-

1. Venky's didn't pay off the existing £20m overdraft when they took over the club?

2. They took on another overdraft which expired on June 30th and they've had to sell Jones to pay it off?

3. Apart from the purchase of the club can it be deduced that they've put absolutely no money of their own into the club?

the 18m loan was transfered to Venkys London.. but they took out a new overdraft which now needs paying.

They didn't expect to have to use the Jones money.. this seems to of taken them by suprise.

Sounds like no money in.. lots thrown away but they did purchase the club for a fair whack on top of the debt.

Overall this is a joke.. how could they not of known the prices for agents etc.. surely they actually looked at the books during due dilligence??

Can't help but be negative they do not even have sponsors sorted with just 4 weeks to the season.. *sigh*

Thanks for your info Phillip what a sorry state of affairs this all is.

[Exiled in Toronto]

One thing I do not understand - why the drama in the last 2 weeks about, "if this ever comes out...". IT's obviously not good news but I fail to see what would have happened in addition if we had been told this earlier.

[neekoy]

Actually there are Roman texts that mention him, however local Hebrew texts refer to various characters who may or may or not be Jesus. The real question is who he actually was. Most of the stuff suggesting he was son of god etc came centuries later. Very little being written at the time is not surprising given the oral tradition of history and limited literacy amongst the majority.

Here endeth the lesson.

Yes I can back this up but like philipl I'm not going to.

Dross, you are talking about Suetonius and he mentions Chrestus, which was a very common name, also he was born well after the life and times that Jesus did so it is hearsay most probably learnt from listening to early christians.

Here endeth the lesson, please, don't be so patronising when you cannot garner one solitary peice of evidence that isn't some obscure reference written long after his supposed death.