[Archived] Our Debt

[Kamy100]

I think we all need to wait until the end of January, that's the time to make a judgement (based on factual evidence ie sales of players etc) in terms of the way the club is heading. At the moment there is a lot going and of course much of it is causing a great deal of concern, but we will have a clearer idea come the end of January exactly which way we are heading in terms of Venky's and their financing of the club.

[roverandout]

kamy do you beleive samba will be sold below venkys valuation to help pay of the debt in this window?

[JAL]

Has any of this had any impact on the youth development at the club ?

Is the club still attracting young talent for next season and is it still going ahead with the £2m investment in Brockhall facilities.

[glen9mullan]

Has any of this had any impact on the youth development at the club ?

Is the club still attracting young talent for next season and is it still going ahead with the £2m investment in Brockhall facilities.

This is why there stance is so confusing, As the planning permission etc has been granted, whilst massive money been spent on acadamy etc in Pune, why they have done that in Pune and neglected rovers here, is just mind boggling

[roverandout]

glen do you think they will sell the likes of samba and other valuable players in this window?

[cn174]

Has any of this had any impact on the youth development at the club ?

Relegation will have a big impact on our youth development as it did last time. It probably took us a good five/six years to recover from it. Basically kids (both young ones and over 16s) are less likely to choose to go to a club not in the Prem even if in theory there's more chance of making it at that club. Also haven't the Premierleague just pushed through some awful rules which basically means they can pinch good young players from football league teams and give them next to nothing in return.

[footypix]

If this is true (and I don't doubt Glen's source) then it will break in the mainstream media very soon.

If Barclay's are no longer willing to finance the club in the short-term, then this is a massive story.

Would Barclays want to be responsible for the death of the club? I doubt it...they will be looking at either forcing Venky's to invest or force a sale.

I think we are looking at the very real possibility, that the club will be out of business very soon.

[modes98]

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

Can they spin it as a positive in India if the club goes to $%%$ but Venkys asset strip us and escape with a profit.

[Seggie]

This is why there stance is so confusing, As the planning permission etc has been granted, whilst massive money been spent on acadamy etc in Pune, why they have done that in Pune and neglected rovers here, is just mind boggling

My thinking with this is they want to play big I am's over there or become heroes of the people whilst making a tidy profit. The Academy in Pune would let them tap into a market of potential unknown talent whilst giving something back but the overall aim would probably be to get youngsters trained and send them to England and pay them on the cheap and potentially sell them on for huge profits. The other thing I was thinking about is if they can get football to be popular there they could essentially get a monopoly on the market with regards to ownership of a league etc but what they haven't realised is for either scenario their core investment has to be doing well for those scenarios to even have an ounce of credibility because no one is going to buy into an average team.

The UK acadamy will probably happen because I think they had the business model sold to them that they could produce youngsters and sell them on for massive profits which sadly has already been proved to them with Phil Jones trouble is with the new acadamy rules being out of the PL could be disatourous for them.

[PAFELL]

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 would ather fight back. They want to damage our club. An advert.us required.

WE HAVE SEEN HOW THEY RUN A FOOTBALL CLUB.

BEGGARS BELIEF WHAT THEIR CHICKEN TASTES LIKE.

VENKY CHICKEN THE FOOD YOU CANNOT TRUST

[Seggie]

I think we all need to wait until the end of January, that's the time to make a judgement (based on factual evidence ie sales of players etc) in terms of the way the club is heading. At the moment there is a lot going and of course much of it is causing a great deal of concern, but we will have a clearer idea come the end of January exactly which way we are heading in terms of Venky's and their financing of the club.

I think we can see were this is going now tbh, the extra loans the reports of no money, the deafening silence a manager on the cheap who cannot be sacked. I would be suprised if we saw out January without a big sale or 2.

[BlueMonday]

I think we all need to wait until the end of January, that's the time to make a judgement (based on factual evidence ie sales of players etc) in terms of the way the club is heading. At the moment there is a lot going and of course much of it is causing a great deal of concern, but we will have a clearer idea come the end of January exactly which way we are heading in terms of Venky's and their financing of the club.

I know you are maintaining objectivity Kamy, but we know where this is headed.

Major player assets sold. Few, if any transfers in. Bank appeased for a while, but cash flow problems persist.

Silence from pune as we slowly slide into administration.

Unless Venkys were in Dubia to arrange transfer of ownership to an Oil Shiek, there's no happy ending to this.

[Pedro]

Just a thought but...

Didn't Barclays themselves drastically change the goalposts in regards clawing back millions because of their own financial difficulties at the moment? There was evidence not so long back that the bank debt had been massively reduced down to about 6 million hadn't it?

As bad as these knobheads are, I can't help but think that Barclays are being really awkward and seem to be in a real fluster and I wonder if it is because they probably haven't got the first charge on the club and it's assets. They may think that if we did continue to be run as badly as we are, and end up in administration, then they wouldn't actually get the full amount back. It also must be worrying for the likes of them to have their money tied up with small teams like Rovers who rely on Sky money to stay afloat when the TV money is probably going to drop dramatically very soon with the TV transmission court case in the pipeline and failing that, relegation.

Also, we've been told all of these sorts of rumours before so i'm with kamy and see how things transpire at the end of the window. One thing is for sure, the "early" business at the start of the window hasn't come into fruition has it?

[glen9mullan]

Just a thought but...

Didn't Barclays themselves drastically change the goalposts in regards clawing back millions because of their own financial difficulties at the moment? There was evidence not so long back that the bank debt had been massively reduced down to about 6 million hadn't it?

As bad as these knobheads are, I can't help but think that Barclays are being really awkward and seem to be in a real fluster and I wonder if it is because they probably haven't got the first charge on the club and it's assets. They may think that if we did continue to be run as badly as we are, and end up in administration, then they wouldn't actually get the full amount back. It also must be worrying for the likes of them to have their money tied up with small teams like Rovers who rely on Sky money to stay afloat when the TV money is probably going to drop dramatically very soon with the TV transmission court case in the pipeline and failing that, relegation.

Also, we've been told all of these sorts of rumours before so i'm with kamy and see how things transpire at the end of the window. One thing is for sure, the "early" business at the start of the window hasn't come into fruition has it?

Take it you have not read the accounts?

[Pedro]

Take it you have not read the accounts?

No, read something in an article a couple of weeks ago that said that the Barclays debt had been reduced but they were after even more money. Why, what do the accounts say?

[Elvis McSmithy]

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

Are you sure that wasnt Fools Gold.

[glen9mullan]

No, read something in an article a couple of weeks ago that said that the Barclays debt had been reduced but they were after even more money. Why, what do the accounts say?

i will email em you pm ur email address

Are you sure that wasnt Fools Gold.

Yep seems so, cos last time I spoke to him, he said he is worried he will never see another pay cheque

[Miker]

I made a post on the JA thread which is pending approval in regards to this. I would suggest no need to panic, but don't expect to have all your dreams and wishes come true.

There is stuff I haven't commented on mainly because I am waiting for a response from Nick Harris on the matter.

In simple terms, my reading of the situation is that Venky's want to run us as a trading club. I imagine managers like Hughes and MON want to be at clubs that will allow them to buy without having to sell, I don't think Venky's can offer them that. At most they are willing to offer a limited budget to spend without selling.

From the accounts, there are a couple of indications that Venky's will cover operational loss with their own money. I assume that, if not relegated, they will eventually try and decrease the loss through increasing commercial income in some way ie. developing fanbase and presence in Asia. This will mean they won't have to plug the gap with their own funds and either let the club remain a self sufficient trading club or use their funds for further boosting the club.

[Pedro]

i will email em you pm ur email address

Yep seems so, cos last time I spoke to him, he said he is worried he will never see another pay cheque

Cheers Glen.

[EwoodDawn]

This is absolutely not meant as a personal dig against Kamy because I think it's fantastic that he's been prepared to give us over a long period of time little insights into things to which we'd have absolutely no access otherwise. But is it just me or is it totally infuriating, the idea that we all just sit tight until the end of January and make our judgement on the way the club is heading then? Yes, things may become clearer regarding Venkys and their financing of the club. But if all we're waiting for is to discover that they've found last minute finance from somewhere on the Arabian peninsula, without the regulations and guarantees of the British banking system, the T&Cs of which we may never be able to get hold of, well...

[glen9mullan]

I made a post on the JA thread which is pending approval in regards to this. I would suggest no need to panic, but don't expect to have all your dreams and wishes come true.

There is stuff I haven't commented on mainly because I am waiting for a response from Nick Harris on the matter.

In simple terms, my reading of the situation is that Venky's want to run us as a trading club. I imagine managers like Hughes and MON want to be at clubs that will allow them to buy without having to sell, I don't think Venky's can offer them that. At most they are willing to offer a limited budget to spend without selling.

From the accounts, there are a couple of indications that Venky's will cover operational loss with their own money. I assume that, if not relegated, they will eventually try and decrease the loss through increasing commercial income in some way ie. developing fanbase and presence in Asia. This will mean they won't have to plug the gap with their own funds and either let the club remain a self sufficient trading club or use their funds for further boosting the club.

Think you will be disappointed I speak to Nick quite regurlar on the phone, and the picture which was painted to him a year ago, was sadly waffle, his opinion is much different, based on facts and info he gets

[Devon Rover]

This is absolutely not meant as a personal dig against Kamy because I think it's fantastic that he's been prepared to give us over a long period of time little insights into things to which we'd have absolutely no access otherwise. But is it just me or is it totally infuriating, the idea that we all just sit tight until the end of January and make our judgement on the way the club is heading then? Yes, things may become clearer regarding Venkys and their financing of the club. But if all we're waiting for is to discover that they've found last minute finance from somewhere on the Arabian peninsula, without the regulations and guarantees of the British banking system, the T&Cs of which we may never be able to get hold of, well...

It isn't just you Dawn. I don't need to wait until end of January or end of tomorrow to make my judgment, my views are clear, are based on the last 14 months of Venkys, and there is nothing Venkys are going to do in the next 3 weeks to change them. It is obvious that our absent and disinterested owners have set our club on a path to oblivion and they need to get out or be removed. I think that is Kamy's view too and has been the view of the vast majority on here for some time.

[glen9mullan]

This is absolutely not meant as a personal dig against Kamy because I think it's fantastic that he's been prepared to give us over a long period of time little insights into things to which we'd have absolutely no access otherwise. But is it just me or is it totally infuriating, the idea that we all just sit tight until the end of January and make our judgement on the way the club is heading then? Yes, things may become clearer regarding Venkys and their financing of the club. But if all we're waiting for is to discover that they've found last minute finance from somewhere on the Arabian peninsula, without the regulations and guarantees of the British banking system, the T&Cs of which we may never be able to get hold of, well...

I agree these windows of lets judge keep appearing and after each deadline we become more disappointed.

Transfer windows is something for years I have spent hours on getting the low down etc, and this one is the biggest joke I can ever remember in rovers history. We are going shopping with no cash, and doing plenty of window shopping on players of Championship quality, with no real intentions of buying. The message for this month is loud and clear, Cut backs and sell sell sell,

In the summer we did a similar thing but when the nitty come to the gritty we got a few last minute deals over the line, on drip deals. Sadly bar Yak they have been ineffective, and I dnt see a gem coming rovers this month on a permanent deal, we are just not looking at that end of the market.

[Seedstral]

Developing fanbase and presence in Asia. This will mean they won't have to plug the gap with their own funds and either let the club remain a self sufficient trading club or use their funds for further boosting the club.

I cant see how our fanbase can develop as i've recently spoken to an Indian cricketer who was a professional in 1 of the local leagues over here not too long ago and when i asked him if he knew anything about Venkys and BRFC his reply was basically he heard about the partnership through conversations with me and then when Rovers visited Pune which was a big news story over there at the time but has not heard anything since and nothing is mentioned where he is and he lives in Mumbai.

Make of that what you want but for me if we aren't even reaching Mumbai then i cant see how we can branch further into the Asian community!!

[thenodrog]

Clearly the bank do not believe Rovers will have sufficient income next season to support the overdraft. Can't say I blame them, I'd want my money out as well.

As I said elsewhere Anderson is an irrelevance the money and the accounts should be the focus. Oh and don't forget what Nick Harris wrote a few days ago

http://www.dailymail.co.uk/sport/article-2080782/Blackburn-face-sale-10m-deadline-missed-NICK-HARRIS.html

I missed that cos I don't read the Mail very often Paul. BUT from that article....

"Inside Sport revealed in August that £1.65m alone went to the agent in the Rochina signing. I can disclose that agents were due £500,000 from the Formica deal and earned commission from summer purchases including Yakubu and David Goodwillie.

Those summer fees are not included in the accounts to June. And it is understood that on top of agents’ fees that are included in the accounts, Blackburn spent a sevenfigure sum on non-agent consultancy fees in the financial year.

The club have declined to comment."

Well Dick Dastardly's public whining and blubbering now adds up. Nowt to do with his son's apparently bruised sensibilities at all and all to do with his personal gravy train hitting the buffers.