[Archived] Rumour: Venky's To Sell?

[rebelmswar]

Appears to me like breach of contract!!

Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. If the party does not fulfill his contractual promise, or has given information to the other party that he will not perform his duty as mentioned in the contract or if by his action and conduct he seems to be unable to perform the contract, he is said to breach the contract.

It may be a breach of contract, but do you think the Walkers are going to pursue it? Its like paying to be kicked in the nuts.

God alone knows what would befall us if Venkeys get really fed up.

[thenodrog]

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.

The banks are currently putting the screws on most businesses. Despite borrowing money for next to nothing and lending it out for lots they are hard task masters at present.

Just as an aside Alan if it was your decision or your money would you lend money to foreign owners of an English Prem club that has been unable to turn a profit in recent times?

[Gav]

Because Hanley will really be able to fill Sambas boots. Not asking for much are you?

As for queuing up for Keans job, who is "they"? If you're talking about decent managers then you're wrong. All we'll attract are people like Brian Laws and Ian Dowie.

Tell you what then booth, why not pack it all in, sounds like you've given up already and this news isn't even confirmed yet

As for managers, we're a prermiship club, plenty will want to come here, no doubt about that.

[Veevs]

Takeover details

click the link for the takeover details

The Venky's Board has given assurances to BRFCI that Venky's:

(a) will commit funds on a consistent and systematic basis to future transfer and/or loan activity; <-- FAIL

( intends to continue to support the existing management team and staff, and that it is committed to

the future development of, and investment in, the Club’s academy and youth infrastructure; <-- Almost instant FAIL

© will continue to support, promote and extend the Club’s local community and CSR activities (VH

and its subsidiaries have their own trust engaged in significant charitable work); <-- UNKNOWN

(d) will seek to extend the Blackburn Rovers name and brand into India, the rest of south-east Asia

and beyond; <-- UNKNOWN

(e) will seek to develop and improve commercial performance across sponsorship, the Club's kit deal

and general merchandising activity; <-- FAIL

(f) will seek to enhance the fan experience at Ewood Park itself on match days (and non match

days) and to maximise season ticket sales and any remaining match day ticket sales; and

(g) intends to improve the Club’s media platforms (for example the Club's TV channel) and to

become more active in the social media space). <-- FAIL

In line with this, pursuant to the terms of the Share Purchase Agreement, Venky's also has entered into

the following contractual commitments with BRFCI and the Club:

(a) the principal activity of Blackburn Rovers will continue at all times to be that of a professional

football club; <-- IMO FAIL

( the current President, Vice Presidents and Honorary Vice Presidents of Blackburn Rovers will not

be removed from those positions before June 2011 without the prior written consent of those

individuals; <-- ????????

© the statue of Jack Walker outside Ewood Park will be kept in a good state of repair and will not be

moved to a different location, obscured or have its prominence diluted without BRFCI’s prior

written consent; and <-- wow something that has not changed

(d) the name of the stand at Ewood Park currently known as the Jack Walker Stand will not be

changed without BRFCI's prior written consent. <-- Does not stop them changing the stadium name though

This says assurances.. so it is not contractual.

[PAFELL]

Appears to me like breach of contract!!

Breach of contract is a legal cause of action in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. If the party does not fulfill his contractual promise, or has given information to the other party that he will not perform his duty as mentioned in the contract or if by his action and conduct he seems to be unable to perform the contract, he is said to breach the contract.

Ok can you or others clarify / explain.

what could the trustees do about it - if they wanted - if this is a breach of contract?

Was the £15mill for transfers over a set period, such as 3 years, for example £5mill per year. Because if it was over 3 years and they have yet to be the owners for year yet, it may not be considered a breach. Just a guess on my part.

Though if it is a breach and the trustees want to do something about it - such as take the club back (I can hear the groans now from some - not me as they did give the club stability) I hope they get on with it before it is too late.

[nicko]

The banks are currently putting the screws on most businesses. Despite borrowing money for next to nothing and lending it out for lots they are hard task masters at present.

Just as an aside Alan if it was your decision or your money would you lend money to foreign owners of an English Prem club that has been unable to turn a profit in recent times?

Banks make their money out of lending money...

Rovers have been losing money for years...

So what has changed?

If Venkys are going to sulk over this they will be finished.

If they take the blow on the chin and get the cash out they may even make friends.

[PAFELL]

The Venky's Board has given assurances to BRFCI that Venky's:

(a) will commit funds on a consistent and systematic basis to future transfer and/or loan activity; <-- FAIL

( intends to continue to support the existing management team and staff, and that it is committed to

the future development of, and investment in, the Club’s academy and youth infrastructure; <-- Almost instant FAIL

© will continue to support, promote and extend the Club’s local community and CSR activities (VH

and its subsidiaries have their own trust engaged in significant charitable work); <-- UNKNOWN

(d) will seek to extend the Blackburn Rovers name and brand into India, the rest of south-east Asia

and beyond; <-- UNKNOWN

(e) will seek to develop and improve commercial performance across sponsorship, the Club's kit deal

and general merchandising activity; <-- FAIL

(f) will seek to enhance the fan experience at Ewood Park itself on match days (and non match

days) and to maximise season ticket sales and any remaining match day ticket sales; and

(g) intends to improve the Club’s media platforms (for example the Club's TV channel) and to

become more active in the social media space). <-- FAIL

In line with this, pursuant to the terms of the Share Purchase Agreement, Venky's also has entered into

the following contractual commitments with BRFCI and the Club:

(a) the principal activity of Blackburn Rovers will continue at all times to be that of a professional

football club; <-- IMO FAIL

( the current President, Vice Presidents and Honorary Vice Presidents of Blackburn Rovers will not

be removed from those positions before June 2011 without the prior written consent of those

individuals; <-- ????????

© the statue of Jack Walker outside Ewood Park will be kept in a good state of repair and will not be

moved to a different location, obscured or have its prominence diluted without BRFCI’s prior

written consent; and <-- wow something that has not changed

(d) the name of the stand at Ewood Park currently known as the Jack Walker Stand will not be

changed without BRFCI's prior written consent. <-- Does not stop them changing the stadium name though

This says assurances.. so it is not contractual.

I remember asking this before but have forgotton the answer. who or what is brfci? Are venkys accountable to brfci? I ask because of this line in that statement - The Venky's Board has given assurances to BRFCI that Venky's:

Can brfci takeover the club if venkys are considered unfit to continue/ etc etc.

[gumboots]

Banks make their money out of lending money...

Rovers have been losing money for years...

So what has changed?

If Venkys are going to sulk over this they will be finished.

If they take the blow on the chin and get the cash out they may even make friends.

Finished or not we'd still be stuck with them until they could find someone to take us off their hands or until the bank force their hands in some way.

[rebelmswar]

Would you take a financial drain packed with unappreciative vermin back?

I certainly wouldn't.

Doing your job quietly and well is not as appreciated as it should be. It seems tha being flash and completely useless is still preferred by some in the sand eating fraternity.

Probably why they fired Sam with his full head of quite beautiful hair and hired the blindingly shiney pate of our midget Mr. Clean.

[Tim Southampton Rover]

Banks make their money out of lending money...

Rovers have been losing money for years...

So what has changed?

If Venkys are going to sulk over this they will be finished.

If they take the blow on the chin and get the cash out they may even make friends.

The trouble is, do Venky's realise this AND do you they have anyone to tell them that this is the way to deal with it? I can only imagine that they will sulk and sulk until it's too late...

[chaddyrovers]

Everybody should be watching Channel 4 now. 'How to buy a football club?'

[Herbie6590]

Everybody should be watching Channel 4 now. 'How to buy a football club?'

I am.....with trepidation.....

[rebelmswar]

Everybody should be watching Channel 4 now. 'How to buy a football club?'

Planning a hostile takeover Chaddy?

[bringdunnback]

Don't understand why Venkys wouldn't put the cash in, my gut feeling is that they don't have it. I'm happy to be proved otherwise but I think that if they had the money they would plow it in because they do seem to have some sort of commitment.

Sorry chaddy, I'm watching Eastenders, will watch it on the plus one channel haha.

[booth]

Tell you what then booth, why not pack it all in, sounds like you've given up already and this news isn't even confirmed yet

As for managers, we're a prermiship club, plenty will want to come here, no doubt about that.

You aren't on this planet Gav, seriously. Hanley replacing Samba is the tip of the iceberg.

Have I given up? I don't quite know how I can "give up", "give up" on what. Believing in Venky's? I have given up on Venkys but that doesn't have any bearing on real life events because like an idiot I will still attend the games, so they'll still get me paying into the club. Sadly, what does have a bearing is that it appears that Venky's have given up on Blackburn Rovers, not completely, but enough to cause serious concern. I feel that we're in a worse position than twelve months ago because at least the trust had some kind of connection to the club through Jack. Infact under our chicken overlords, I feel that we are totally screwed. I can't even see how we'd be a decent championship club, as I don't see Venky's looking downwards for decent players. We're looking at even cheaper options, aged journeymen being paid peanuts (Pavone - WTF is that about, and we're even struggling to sign him). There's only one way and that's down. Sorry if I sound disappointed, but unlike you and a few others I don't think we'll do okay if we go down. I think we'll go into free-fall without people at the club who give a toss. Venky's won't have any need for the club in the championship. They don't give a toss now let's face it. When you consider we could jeopardize their main mission in business, it's unsurprising they don't want to, as they see it, throw away good money after bad. So don't be surprised if I don't have much faith in Venky's.

Now if all that means I've given up on them then so be it. But you know what I'm a Blackburn Rovers fan, not a Venky's fan. So I couldn't give a stuff. But you can keep smiling Gav, because as you say it may never happen.

Of course, that's all unless Venky's suddenly have an epiphany about actually wanting to run and invest in a football club?

[Kelbo]

The Venky's Board has given assurances to BRFCI that Venky's:

(a) will commit funds on a consistent and systematic basis to future transfer and/or loan activity; <-- FAIL

( intends to continue to support the existing management team and staff, and that it is committed to

the future development of, and investment in, the Club’s academy and youth infrastructure; <-- Almost instant FAIL

© will continue to support, promote and extend the Club’s local community and CSR activities (VH

and its subsidiaries have their own trust engaged in significant charitable work); <-- UNKNOWN

(d) will seek to extend the Blackburn Rovers name and brand into India, the rest of south-east Asia

and beyond; <-- UNKNOWN

(e) will seek to develop and improve commercial performance across sponsorship, the Club's kit deal

and general merchandising activity; <-- FAIL

(f) will seek to enhance the fan experience at Ewood Park itself on match days (and non match

days) and to maximise season ticket sales and any remaining match day ticket sales; and

(g) intends to improve the Club’s media platforms (for example the Club's TV channel) and to

become more active in the social media space). <-- FAIL

In line with this, pursuant to the terms of the Share Purchase Agreement, Venky's also has entered into

the following contractual commitments with BRFCI and the Club:

(a) the principal activity of Blackburn Rovers will continue at all times to be that of a professional

football club; <-- IMO FAIL

( the current President, Vice Presidents and Honorary Vice Presidents of Blackburn Rovers will not

be removed from those positions before June 2011 without the prior written consent of those

individuals; <-- ????????

© the statue of Jack Walker outside Ewood Park will be kept in a good state of repair and will not be

moved to a different location, obscured or have its prominence diluted without BRFCI’s prior

written consent; and <-- wow something that has not changed

(d) the name of the stand at Ewood Park currently known as the Jack Walker Stand will not be

changed without BRFCI's prior written consent. <-- Does not stop them changing the stadium name though

This says assurances.. so it is not contractual.

A Barrister would of course argue strongly, that without those assurances, the club would not have been sold and as those assurances were included within the said contract, it would be deemed there had been a breach of the contract!

[Alex Rover]

Everybody should be watching Channel 4 now. 'How to buy a football club?'

Wow, astonishing.

[beastlove]

The trouble is, do Venky's realise this AND do you they have anyone to tell them that this is the way to deal with it? I can only imagine that they will sulk and sulk until it's too late...

For f**ks sake . Venky must be smart people to build a multinational business. I think they understand money.. You can question their knowledge of football.

I will repeat, does anyone know this is true or does this fall into the British army torturing Iraqis another mirror story which turned out to be rubbish. The media even get the name of a player on trial wrong. Everyone is taking twitter rumour as true without knowing the source.

Can anyone send me a link with a direct quote from anyone who works at the club..... No.. Not one. How about a quote from anyone who left the board recently..... No.

How about a comment from the bank.... No. So no one wants to put their name against the story.

So all this is based on an article in the mirror and twitter .Why do you think sky haven't run with it.

[SIMON GARNERS 194]

Would you take a financial drain packed with unappreciative vermin back?

Steady on old chap!

[T.J.Newton]

anybody watching 'how to buy a football club' on c4 now, ring any bells!

O and Mr.Nixon, speaking of sulking what was the name again of that fullback you said was at rovers last week before your break.

[Kelbo]

For f**ks sake . Venky must be smart people to build a multinational business. I think they understand money.. You can question their knowledge of football.

I will repeat, does anyone know this is true or does this fall into the British army torturing Iraqis another mirror story which turned out to be rubbish. The media even get the name of a player on trial wrong. Everyone is taking twitter rumour as true without knowing the source.

Can anyone send me a link with a direct quote from anyone who works at the club..... No.. Not one. How about a quote from anyone who left the board recently..... No.

How about a comment from the bank.... No. So no one wants to put their name against the story.

So all this is based on an article in the mirror and twitter .Why do you think sky haven't run with it.

I do suggest you read the threads on here regarding this and then re visit this question!

[chaddyrovers]

Planning a hostile takeover Chaddy?

If only I am the money I would but sadly I don't have enough at the moment to do so.

[Tim Southampton Rover]

Everybody should be watching Channel 4 now. 'How to buy a football club?'

This programme is exactly why a lot of fans are falling out of love with the professional game.

It makes me want to go and watch non-league football just so I can fall back in love with the sport again.

[beastlove]

I do suggest you read the threads on here regarding this and then re visit this question!

Do you mean thar all forum threads are fact? So if I say that someone at the rovers has told me that venky plan to turn all the food outlets at ewood into venky chicken this is true.

All I am asking is for one person to send me a link to an article with a direct quote from someone who has been or is currently employed in a senior management role at rovers. Can you do this?

Do you believe everything you read in the mirror or on twitter.

[chaddyrovers]

This programme is exactly why a lot of fans are falling out of love with the professional game.

It makes me want to go and watch non-league football just so I can fall back in love with the sport again.

I can see where you are coming from but I couldn't support another football team. BRFC is my club