[Archived] Our Debt

[Tom]

I think I'd rather just go into admin now and have it done with, at least we won't worry about relegation then, rather that than go down normally and then get a points deduction next season.

Then again who knows what will be of our club next season!

[SIMON GARNERS 194]

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.

What about flogging the unique shield we have from the FA for winning the cup three times in a row...would it surprise anyone!

[glen9mullan]

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.

Was told last week that went massively pear shaped and failed, and sending V Rao to do their dirty work in UK has massively backfired

[Kamy100]

V Rao to do their dirty work in UK has massively backfired

I could have told them that before they sent him.

[Dan]

What about flogging the unique shield we have from the FA for winning the cup three times in a row...would it surprise anyone!

Sssssh, keep your voice down, they probably don't even know about that ;-)

[Devon Rover]

I think I'd rather just go into admin now and have it done with, at least we won't worry about relegation then, rather that than go down normally and then get a points deduction next season.

Then again who knows what will be of our club next season!

I agree Tom. A few of us have mentioned the 'slow death' that the remainder of this season might represent and I would much rather the full pain came now and got it out the way. I feel little or no connection to the club in its current state but having Venkys forced out would bring my pride back - even if it involved relegation to do it.

I am far more worried about the prospect of Venkys obtaining credit with some foreign lender (as Kamy refers to) and where we could end up if this situation is allowed to continue for longer. This needs to end.

However I have zero faith in Venkys successfully achieving anything they set out to do so I think its more likely they will limp on until Barclays force them out (if thats possible?).

GET VENKYS OUT

[BlueMonday]

Altogether now....

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

Gulp

Oblivion here we come!

[redroses]

like when someone is up to their eyes in debt and then embarks on a quick quid or wonga style escape route and its just a matter of time before it all backfires and you have to flog your 59 plate astra for £3k, your 50 inch tv for £150, your iphone for £300 just to pay up your contract and the only option left is something illegal or a diabolical visit to the bookies with a dreadful bet with your last £5. ENDS IN TEARS

[bob fleming]

They have paid nothing

Game over then.

Why would Barclays wait until the Summer? End of the transfer window fire sale I can kind of understand but I'm sure Barclays don't like being made mugs of.

Either way it merely prolongs our agony and as someone else has just mentioned, or alluded to, a loan from another foreign bank merely means more misery / abject failure and Kean (I appreciate that "abject failure" and "Kean" mean the same thing but there you go) and therefore more debt / Agents fees to pay.

Basically we're ruined and as forecast the longer they are here we're even more ruined.

[Stuart]

minus

[roverandout]

can we not just go into administration now and have done with it then we can move on from these parasites, i hope they dont get a new loan out and the bank recoups their money through player sales and we can rebuild with what we have left without the scummys.

[ScaryGuy]

I just don’t get this.

Debts are clearly getting larger and larger and they’ve no interest in putting money into the club so why do they want the club?

The fact they’re looking for another bank shows they can’t control the debt so why don’t they sell the club????

Owning Rovers must be giving them a major headache

[gumboots]

I just don’t get this.

Debts are clearly getting larger and larger and they’ve no interest in putting money into the club so why do they want the club?

The fact they’re looking for another bank shows they can’t control the debt so why don’t they sell the club????

Owning Rovers must be giving them a major headache

Who would buy and give them enough to recoup what they can make on player sales if they can get hold of the money now?

[roverandout]

these lot owning us gives us a massive headache, sod THEM!!!

[mjwood00]

I disagree with comparisons to Leeds and Portsmouth. They actually chased, and to an extent achieved, glory before crumbling. Venky's didn't even do that.

What a sorry affair. I have no idea what we will be discussing on this site in six months.

[yoda's brother]

I disagree with comparisons to Leeds and Portsmouth. They actually chased, and to an extent achieved, glory before crumbling. Venky's didn't even do that.

What a sorry affair. I have no idea what we will be discussing on this site in six months.

or even tomorrow

[gumboots]

or even tomorrow

How good Myles Anderson is if only us nasty fans didn't put him off?

[Lurid Coat]

What a sorry affair. I have no idea what we will be discussing on this site in six months.

Probably the fact that a Burnley fan has been appointed as the administrator of the club. Sad thing is, that scenario is better than Venky's and Kean staying on.

[roverandout]

a couple of questions for people especially itk's

1 do people still feel sorry for venkys in that they have been naive or do most supporters now hold them in comtempt?

2 for itk's would this be a bigger disaster than say when portsmouth went into administration with their 'owners'? using them as an example.

[Devon Rover]

I disagree with comparisons to Leeds and Portsmouth. They actually chased, and to an extent achieved, glory before crumbling. Venky's didn't even do that.

What a sorry affair. I have no idea what we will be discussing on this site in six months.

Thats right. The process of financial meltdown has similarities and its crazy that this is being allowed to happen by the Premier League again. A close friend of mine is a Pompey fan. He is obviously saddened by what happened to the club and where it has now found its level for the foreseeable future but he is quite honest in saying that it was worth it for the memories of a couple of seasons of being a bigger success than they could ever have dreamed.

In that sense Stuart is exactly right- for Rovers under these owners its the financial mess and fast descent but without the enjoyment of any period of success. Venkys have even managed to screw up any pathetic attempt at 'living the dream' or going down in a blaze of glory. Its been a rapid decline without any highs whatsoever. That decline is going to continue for as long as they remain here.

[den]

100%

Thanks Glen.

[DavidMailsTightPerm]

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

Glen - the $64,000 question - do Venky's actually have any money to put into the club. I can't recollect anyone saying whether they have serious amounts of cash - or just aren't willing to invest.

[den]

Glen - the $64,000 question - do Venky's actually have any money to put into the club. I can't recollect anyone saying whether they have serious amounts of cash - or just aren't willing to invest.

What's the going rate for pawning around 60 classic cars in India?

[roverandout]

i heard they arent willing

[glen9mullan]

a couple of questions for people especially itk's

1 do people still feel sorry for venkys in that they have been naive or do most supporters now hold them in comtempt?

2 for itk's would this be a bigger disaster than say when portsmouth went into administration with their 'owners'? using them as an example.

1.You can only play the naivity card so long, They went into this under poor advise, and they should of done their homework, They are certainly in contempt

2. No-one can answer that question sadly, but I think we could be worse off

Glen - the $64,000 question - do Venky's actually have any money to put into the club. I can't recollect anyone saying whether they have serious amounts of cash - or just aren't willing to invest.

I'm told they have personal wealth, but Rovers would not be their only failed business venture when Balaji wants a toy, If its in assets or cash, no-one really knows, as finance is not regulated the same way over there,

I remember a member of the club saying to me months ago, everything Venkys touch turns to gold,

I'm also a frim believer a profit is a profit regardless of how you get that profit, thats my biggest fear, with this window