[Archived] Rumour: Venky's To Sell?

[Blue n White Rover]

Ince was one mistake in 10 years, how many have these scumbags made in 9 months. How was giving Sam a bonus a waste of money? Jesus Christ!!!

A mistake that cost The Trsut millions of pounds, they also allowed Ince to spend £6m on Grella and Andrews, who have both been magnificent signings for us! Ince signed a 3 or 4 year contract, he was dismissed 6 months into that contract. You work out how much we lost out.

Paying Sam £1m to keep us up is ridiculous. £250k or something reasonable would have sufficed but paying £1m was crazy. People will say in the grand scheme of things it has enabled us to keep our PL status, but I'm sure if you offered him £250k-£500k he would have done the same job.

[imy9]

First of all it is easy to say "Venkys out" -who is going to purchase the club? It took THREE years the last time we were put for sale.

Having read through the numerous pages of information the key bit for me is:

Will the owners put their own money into Rovers to push us forward?

The nonsense about them not having enough money is ridiculous when you see that Balaji has put £49 million into an account for a marquee signing- he does not seem like the sort of bloke who would put his life savings in for that. They quite clearly have money but will they use it- I feel we are at the cross roads here, they may not want to be here but is there someone out there wanting us?

[Amo]

Paying Sam £1m to keep us up is ridiculous. £250k or something reasonable would have sufficed but paying £1m was crazy. People will say in the grand scheme of things it has enabled us to keep our PL status, but I'm sure if you offered him £250k-£500k he would have done the same job.

Even more ridiculous for Venky's to sack him and foot a multi-million compo, when his contract expired in just six months. I can't believe any self-respecting business would do that, unless they were happy to take a loss.

[philipl]

Which is what Venky's have also done. The only thing they can be blamed for is the loss of income due to finishing 15th and excess payments of agent fees. I would also like to point out that The Trust also wasted several million on appointing Paul Ince, and giving Big Sam a healthy "survival" bonus.

"Oh what a pretty sunset"

[phili]

The big difference is that all of the loans/overdrafts that the trust took out were against trust assets and not guaranteed by sky income or any of the assets of Blackburn Rovers, so this situation would not have arisen under the trust.

If i remember correctly the trust paid the bonus to Sam to keep us up and did not come from the income of Blackburn, it was seen as beneficial to the trust to keep us up and paying £1m is better than finding a £20m shortfall if we went down.

The £18m spent in the last 6 months are all of their mistakes, did players need improved contracts? Did we need to sign rsc, did we need to sack everyone at the club, did we need to spend so much on agents etc?

[sweet]

First of all it is easy to say "Venkys out" -who is going to purchase the club? It took THREE years the last time we were put for sale.

Having read through the numerous pages of information the key bit for me is:

Will the owners put their own money into Rovers to push us forward?

The nonsense about them not having enough money is ridiculous when you see that Balaji has put £46 million into an account for a marquee signing- he does not seem like the sort of bloke who would put his life savings in for that. They quite clearly have money but will they use it- I feel we are at the cross roads here, they may not want to be here but is there someone out there wanting us?

If they are going to put any of their own money in, it will be to clear the debt, nothing else and then they will probably look to recoup that amount by selling off assets in the coming transfer windows.

The only reason they were prepared to put money in was obviously because a marquee signing would give them brand exposure i.e make them money - it was so obvious by the fact they were only desperate to land players based or from south america, where they have companies!!.

It is obvious they are not going to give us any money to buy players with, unless that said player will benefit the venkys brand.

[nicko]

I was going to stay out of this, but just a couple of points.

Is it not time somebody asked why the bank changed their view on the 'credit line' facility? Who put the boot in? I am going to be in a very small minority here to say I feel sorry for the owners on this - it is one major kick in the nuts.

These people are not asset-strippers, but they have suddenly found a financial problem they did not expect.

Put that on top of the lack of a shirt sponsor and the hidden costs of modern transfers and they must be pretty sick of this already.

The 'statement' today says it all. From ambitious plans to 'maybe sign two defenders and two strikers' [Mrs D's words] to 'maybe sign a midfielder and a striker.'

There has clearly been a severe drop in aims.

As for the 'billionaires or millionaires' questions, I don't think it is relevant right now. They had a plan - or so they thought - and a budget - or so they thought - and this is now changed.

It isn't meltdown, it isn't Armageddon, but it IS a massive test for them - and the back-up staff. It would be tough for experienced people to deal with, so this is going to be make-or-break for some newbies.

[philipl]

nicko, is it a coincidence that the people at Ewood whose job it would have been to have made sure the bank didn't change their view on the 'credit line' facility were leaving heart broken and disillusioned at the time they would ordinarily have been sat round the table with the bank extending the facility?

[BangkokRover]

What are the chance of Samba and Junior being around at the start of the season Nicko?

[keaney23]

The facts are we have lost 4 senior players from a team that have just survived on the last day of the season. Unless they invest into Rovers we will be relegated from the premier league next season and then they will find them self into a lot of debt. Not one team in the premier league could lose four senior players and not expect to drop a significant amount of places in the table. Our relegation rivals are spending and improving their squads and thats the real big worry for me as a fan. We were promised so much more , not all of us ran away with what they have said but a few of us did actually take them on face value. Me being one of them. I can understand Venkys have been poorly advised but if they listened to the fans and the media more then they did with Kentero then things could have been different. They were not different though and this is where we are at. Blackburn Rovers are a million times bigger then Venkys and if we go down then so do venkys. Its either invest into your 'Baby' into a brighter future learn from your mistakes and fulfill your ambitions and promises, or walk away and sell up if there is a buyer out there. Any other options will only damage Blackburn and Venkys.

[nicko]

nicko, is it a coincidence that the people at Ewood whose job it would have been to have made sure the bank didn't change their view on the 'credit line' facility were leaving heart broken and disillusioned at the time they would ordinarily have been sat round the table with the bank extending the facility?

That is one way of looking at it.

However I do smell some sabotage in the air here.

But that is only one part of a rather large scene.

The facts are we have lost 4 senior players from a team that have just survived on the last day of the season. Unless they invest into Rovers we will be relegated from the premier league next season and then they will find them self into a lot of debt. Not one team in the premier league could lose four senior players and not expect to drop a significant amount of places in the table. Our relegation rivals are spending and improving their squads and thats the real big worry for me as a fan. We were promised so much more , not all of us ran away with what they have said but a few of us did actually take them on face value. Me being one of them. I can understand Venkys have been poorly advised but if they listened to the fans and the media more then they did with Kentero then things could have been different. They were not different though and this is where we are at. Blackburn Rovers are a million times bigger then Venkys and if we go down then so do venkys. Its either invest into your 'Baby' into a brighter future learn from your mistakes and fulfill your ambitions and promises, or walk away and sell up if there is a buyer out there. Any other options will only damage Blackburn and Venkys.

How perfectly put.

[Fife Rover]

There is and it was done. Yet somehow they still slipped through it.

There are many many people (mysef included) that regard the "Fit and proper" test to be nothing more than a charade, and totally worthless.

[John]

They had a plan - or so they thought - and a budget - or so they thought - and this is now changed.

You can have a conceptual business plan, but you still need the correct personnel and structure in place to deliver it.

Aside from that, the first major fundamental problem is that their plan is flawed (leasing players, £5 million per window for top 5 etc etc). Secondly, they are trying to run a football club, in a hands on fashion/manner, when they clearly know little or nothing about football – additionally, and importantly, they presumably have been receiving awful advice/guidance from their “advisers”.

Unless Venky’s are going to fundamentally change their approach, then things under their tenure, could get worse in my view.

[Sandiway Blue]

What are the chance of Samba and Junior being around at the start of the season Nicko?

"No need to ask question when already know answer do you...."

[tony gale's mic]

I was going to stay out of this, but just a couple of points.

Is it not time somebody asked why the bank changed their view on the 'credit line' facility? Who put the boot in? I am going to be in a very small minority here to say I feel sorry for the owners on this - it is one major kick in the nuts.

These people are not asset-strippers, but they have suddenly found a financial problem they did not expect.

Put that on top of the lack of a shirt sponsor and the hidden costs of modern transfers and they must be pretty sick of this already.

The 'statement' today says it all. From ambitious plans to 'maybe sign two defenders and two strikers' [Mrs D's words] to 'maybe sign a midfielder and a striker.'

There has clearly been a severe drop in aims.

As for the 'billionaires or millionaires' questions, I don't think it is relevant right now. They had a plan - or so they thought - and a budget - or so they thought - and this is now changed.

It isn't meltdown, it isn't Armageddon, but it IS a massive test for them - and the back-up staff. It would be tough for experienced people to deal with, so this is going to be make-or-break for some newbies.

But look at what this £18 million has been spent on.

Were most of it wisely invested on players then that would be one thing.

But most of it has been spent on things that either didnt improve our team or, in the case if the severance package for Sam and co, weakened us considerably.

Venky's are entirely to blame for this. There was absolutely no need to take out a loan so big in the first place.

[deftangel]

Is it not time somebody asked why the bank changed their view on the 'credit line' facility? Who put the boot in? I am going to be in a very small minority here to say I feel sorry for the owners on this - it is one major kick in the nuts.

That's an excellent question which we could expand upon by asking why they needed the additional credit line in the first place if there was a plan, budget and means to go about things. Things may well have changed, but we've seen absolutely no evidence of them committing ANY of their own money here beyond paying the asking price.

I'm struggling to feel any sympathy for them if they've blown £18m in six months through their own (well intentioned, perhaps) naivety and don't front up to at least bear some of the responsibility of that.

[jim mk2]

I I am going to be in a very small minority here to say I feel sorry for the owners on this - it is one major kick in the nuts.

A minority of one I would say. The owners forced out the club's experienced adminstrators who would have steered them through this crisis so they are reaping what they are sowing.

It's Rovers supporters you should feel sorry for.

In some ways, the owners scaling back their stated transfer ambitions is a welcome dose of reality. But the question has to be asked how a team that survived relegation on the last day of last season and is now minus Jones x 2, probably Samba and possibly Hoilett is going to avoid relegation without serious investment ?

[LeChuck]

Is it not time somebody asked why the bank changed their view on the 'credit line' facility? Who put the boot in? I am going to be in a very small minority here to say I feel sorry for the owners on this - it is one major kick in the nuts.

If they were planning to run the club with borrowed money then it's possibly a blessing in disguise.

That's how the Trust were running the club, except they had competent footballing people doing it. What on earth is the point in having new owners if they are not putting any money in whatsoever?

[studleywarrior]

nicko, is it a coincidence that the people at Ewood whose job it would have been to have made sure the bank didn't change their view on the 'credit line' facility were leaving heart broken and disillusioned at the time they would ordinarily have been sat round the table with the bank extending the facility?

who are these people so heart broken and disillusioned? the members of the board that assured us that the new owners had the where with all to keep the club running in the same way. The people who sold the club knowing that Jerome Anderson was involved with the new owners and advising them. I bet John Williams has a little cry at his morning coffee break in his new plush office at the Etihad stadium. Its a bit more like rats from a sinking ship.

[BangkokRover]

who are these people so heart broken and disillusioned? the members of the board that assured us that the new owners had the where with all to keep the club running in the same way. The people who sold the club knowing that Jerome Anderson was involved with the new owners and advising them. I bet John Williams has a little cry at his morning coffee break in his new plush office at the Etihad stadium. Its a bit more like rats from a sinking ship.

Wow this easy the most bizarre post of the day.

[1864roverite]

Sort of underlines just how INCOMPETENT they have shown themselves to be, added to the words naive, selfless, pigheaded (toe the line or otherwise) and ignorant.

The first thing they should do is go cap in hand and beg John Williams and Tom Finn to come back into the club and get some semblence of order back. Right now they need an administrative team in place and URGENT by all accounts.

[Athlete]

just seen in the transfer thread posters actually still full of optimism , pro venkys , etc.....well all I can say to these posters are what drugs are you on ????? because the scenario @ BRFC is going from bad to worse with each passing day and if Samba and Hoilett leave how we'll survive as beyond me and obviously beyond steve kean as we are 4 players so far down on last season and only survived on the last day....

I vow never to give/spend another penny at the club ( season ticket apart which I already have ) no replica kit , no beer at half time nothing ..just my small protests at these clowns who are ruining BRFC in front of our very eyes... RANT OVER

[nicko]

Venky's are entirely to blame for this. There was absolutely no need to take out a loan so big in the first place.

The loan was at that level - or very close to it - when they took on the club.

The money to the Trustees [didn't they do well?] was around £25 million and paid for out of their funds.

The 'credit line'/mortgage/debt/whatever was already in existence. They just took it over.

It would be like buying a house, paying off the owners, taking on a mortgage because of debts attached to the property...and then being told you have to pay off the mortgage before you can put any furniture in.

Not trying to be flippant.

The owners forced out the club's experienced adminstrators who would have steered them through this crisis so they are reaping what they are sowing.

The same people who were running the club with debts the SAME as the current levels.

The only difference is the attitude of the bank.

[phili]

There are two loans, the existing overdraft taken over by venkys against venkys london as part of the sale to be paid off over the next 3 years.

A new £18m mortgage/overdraft taken out in January to be paid by 30th june and guaranteed by rovers assets (sky money, brockhall, players), this has now been called in to be paid not extended. There will still be the £18m existing trust overdraft to be paid back after all of this.

[Mattyblue]

Are there two loans nicko?