[Archived] Our Debt

[Stuart]

That's ok then we'll all be dead by then

You might be, I've made plans!

[glen9mullan]

Glen, it would be helpful if any info you have in support of this could be shared with Nick Harris (sportingintel) to encourage his involvement.

If this is true then I think we've got a long, slow death to suffer between now and the season end and inevitable administration- if the club can cover wages that long.

I'm sure NH will already be aware and if so he will be working out the repercussions of the banks decision

[roverandout]

glen, does this mean a firesale of our best players in january? because im sure venkys wont be putting their own money into the club.

[den]

Glen,

how sure are you of this being fact?

[bob fleming]

That's ok then we'll all be dead by then

Kean won't gumboots. He'll still be manager, albeit of a club that hasn't existed for 900 years but in his head you can "see what we're trying to do".

[Mercer]

Are the players/staff in any danger of not being paid in February/March??

At least win bonuses part of the players contract are not needed these days....

If players aren't paid, contracts are void and they are free to walk !

[1864roverite]

Den

I think if this news was fact that it would be circulating amongst the newswires by now. If it was exactly true it would have been leaked by the bank calling the debt to ensure maximum coverage and further to that, the Premier League would be on the case immediately and they always go to the media.

There is clearly something going to blow and I am just wondering how loud the bang will be.

[EwoodDawn]

Personally, I loathe being called an idiot and the insinuations that I have an ulterior motive for joining protest activities. Also, the notion that I've actually wanted both the owners and manager of my club to fail from the outset... Karl Pilkington! I just feel that if this does drag on until June, there are going to be even more scurrilous character assassinations of the fans and even less opportunity for us to counter them. So all in all, and I can't believe I'm saying this, if we are to be killed off could some mercy please be shown and the fatal bullet be delivered sooner rather than later? Not that this post means I won't be protesting this weekend. If we're going down, we have to go down fighting and informing as many non-Rovers supporting sports fans as possible as to what's going on.

[glen9mullan]

Glen,

how sure are you of this being fact?

100%

[gumboots]

Personally, I loathe being called an idiot and the insinuations that I have an ulterior motive for joining protest activities. Also, the notion that I've actually wanted both the owners and manager of my club to fail from the outset... Karl Pilkington! I just feel that if this does drag on until June, there are going to be even more scurrilous character assassinations of the fans and even less opportunity for us to counter them. So all in all, and I can't believe I'm saying this, if we are to be killed off could some mercy please be shown and the fatal bullet be delivered sooner rather than later? Not that this post means I won't be protesting this weekend. If we're going down, we have to go down fighting and informing as many non-Rovers supporting sports fans as possible as to what's going on.

My feelings exactly. I had a potentially serious op last year and I knew it wasn't going to be pleasant but i pestered the hospital to get it done sooner rather than later because the longer it was left the worse the situation got and the harder any form of recovery would be. I feel the same about the club. It's better that the worst happens and then you see what's left and start to pick up the pieces. I am aware that any new owners who bought in after admin could be another set of lying scumbags, but they'd still be hard pushed to do worse thatn the current lot.

[DavidMailsTightPerm]

Latest : The bank has refused to allow Future revenue for next season to be used as part of the debenture on existing debt, Venkys now either put loads of dough in or we are screwed come summer time

I presume this is because they feel we will be relegated - or because the Venky's haven't invested the money they committed to when purchasing the club ?

If it is the first - in the event we stay up (unlikely I know at the moment) - I presume the banks position may change ?

[SIMON GARNERS 194]

Altogether now....

FIRST DIVISION HERE WE COME, RIGHT BACK WHERE WE STARTED FROM,OPEN UP THOSE GOLDEN GATES,FIRST DIVISION HERE WE COME!!

Gulp

[glen9mullan]

I presume this is because they feel we will be relegated - or because the Venky's haven't invested the money they committed to when purchasing the club ?

If it is the first - in the event we stay up (unlikely I know at the moment) - I presume the banks position may change ?

Neither, the division we are in next season has nothing to do with this decision i'm told, Its gonna take huge cash for the bank to consider Venkys a good bet for now

[Kamy100]

I presume this is because they feel we will be relegated - or because the Venky's haven't invested the money they committed to when purchasing the club ?

If it is the first - in the event we stay up (unlikely I know at the moment) - I presume the banks position may change ?

Or they set up a new lending agreement with another bank, which is what they have been working on.

[ChrisyG]

######.

[Stuart]

Or they set up a new lending agreement with another bank, which is what they have been working on.

Secured against what?

[bob fleming]

100%

Have they paid the £10m Glen or is it a case of selling Samba etc ASAP to cover that?

The game was up when Jerome made that incredible speach which the world and his dog saw through yesterday, "it's not my fault guv'nor, anyone but me, I've not even been involved for a year but please ask me all about it Sky for 20 minutes".

Maybe it's time we threw Myles (middle name: "off") into the fray to get us up the league and save the club? Ooops! there, I've done it now, picking on him like that. Sorry Myles, I'm sure you'll develop late soon.

[gumboots]

Scott Dann is going to be fit sooner than expected - we can try to sell him too or has he played for too many clubs to be sold - I was away for most of the transfer window and can't remember when we bought him.

[LDRover]

Secured against what?

Myles Anderson

[glen9mullan]

Or they set up a new lending agreement with another bank, which is what they have been working on.

Sadly mate that solves nothing, they are in the hcok to Barclays, it does not matter if they got a new bank, that wont clear the debt

Have they paid the £10m Glen or is it a case of selling Samba etc ASAP to cover that?

The game was up when Jerome made that incredible speach which the world and his dog saw through yesterday, "it's not my fault guv'nor, anyone but me, I've not even been involved for a year but please ask me all about it Sky for 20 minutes".

Maybe it's time we threw Myles (middle name: "off") into the fray to get us up the league and save the club? Ooops! there, I've done it now, picking on him like that. Sorry Myles, I'm sure you'll develop late soon.

They have paid nothing

[SIMON GARNERS 194]

The game was up when Jerome made that incredible speach which the world and his dog saw through yesterday, "it's not my fault guv'nor, anyone but me, I've not even been involved for a year but please ask me all about it Sky for 20 minutes".

Nail hit on head .....'WASN'T ME BOSS,HONEST'!!

[Elegia]

Or they set up a new lending agreement with another bank, which is what they have been working on.

They have been working on a lot of things since they waltzed into Ewood....I won't hold my breath. i am already holding it for champions league footy.....

[Kamy100]

Sadly mate that solves nothing, they are in the hcok to Barclays, it does not matter if they got a new bank, that wont clear the debt

They have paid nothing

Agree, but from what I am told they are attempting to get a new agreement with a foreign bank, they will use that money to clear the debt with Barclays and have a new lending agreement. This of course would be the worst possible news, it could saddle the club with even further debt and without the protection we have at the moment in terms of UK lending institutions have some sort of checks and balances in place to try and ensure some sort of sustainability.

[bluefred]

looks like were f@@ked

[Mercer]

Or they set up a new lending agreement with another bank, which is what they have been working on.

I suspect with difficulty.

When you lend money, you hope you never have to rely on the security taken. A big part of the lending decision making process is the credibility of the operators in their chosen field and, let's face it, as far as football is concerned, IMO, Venky's have no credibility.

Many have speculated for some time now, that we are deep in the financial mire and if Glen's comments are correct, and there isn't much evidence to argue against, then at least the supporters now realise just how bad things are and credit to Glen for bringing this to supporters' attention.