[Archived] Steve Kean Thread (Poll reset after Stoke game)

[philipl]

If the Raos are so "personally wealthy" why don't they throw some of their own money at transfers instead of relying on the bank, then?

Raos having Premier League-level personal wealth is a complete and utter myth put about by the now discredited article written by Nick Harris last January.

Mrs D was convinced she could make a quick buck on buying and selling Rovers within six months apparently but Kentaro messed up getting the buyers for her in the summer. Then Balaji decided he wanted the Rovers toy more than a Bollywood movie with Akon in it or some such and kaiboshed the extremely generous Qatari offer much to the extreme pain and displeasure of Mr and Mrs D if you follow the saga on podcast 17 part 1.

Returning to the lack of brass in the Rao family, to be Premier League rich owners need to have £100s millions in surplus cash which Venky's certainly don't. Many owners have so much wealth that the interest earned on the principal can bankroll their PL club (or with Man City, the interest earned on the interest...) and for sure the Venky's certainly don't earn anything like those amounts in interest receipts irrespective of high Indian interest rates.

Then if the Premier League level of wealth owner does have the surplus cash or interest stream, they have to be willing to spend it on the club. Again Venky's fail even on that criteria because after putting in the money the Walker Trust told them they had to, Venky's have not put another penny into Rovers. Instead they have naively squandered Rovers' wealth recklessly, irresponsibly and with managerial ignorance and incompetence to such an extent that Rovers are now totally beholden to Barclays Bank when there WAS NO NEED FOR ANY OVERDRAFT WHATSOEVER if they weren't just a bunch of chicken brains.

No wonder the bank turned up blowing the whistle today- Nicko's piece rather understates just how severe the problem is if Venky's don't write a cheque for around £20m this month- only half of which would go to transfer funds.

All the indications are that collectively, the Raos don't have that sort of money lying around to write such a cheque for Rovers and that Mrs Desai would as sure as eggs are eggs never allow the family cash to come to Rovers that way even if they did.

And therein lies the reason why the utterly compromised Steve Kean is still the imposter on the throne in my opinion. A cheap skate solution who won't squeal when the Raos cheap skate Rovers again.

[Fowl Play]

If it was just the first time that Barclays were being mentioned then maybe, but Barclays have been unhappy with the situation at Rovers for some time.

I fully understand why they are concerned, the club for some bizarre reason continue to keep a manager in a job that is going to relegate the club. They are not mugs, they know that they won't get all their money back when (not if) Rovers are relegated.

Exactly and I think Barclays are also well aware that a large part of the support (a much more relatively important income stream in the championship than in the PL) is thoroughly disenchanted and may well fall away next season. Add to that (I believe) most of the new contracts given out in the last year do not include automatic salary decreases if we go down.

The bottom line is that we won't be able to afford to keep paying some players £30K or £40K on championship income with crowds of about 15,000 but that is a situation we could soon be in and yet coco has just trousered a good rise for abject failure - if it was my cash, I'd be crapping myself!

[philipl]

Exactly and I think Barclays are also well aware that a large part of the support (a much more relatively important income stream in the championship than in the PL) is thoroughly disenchanted and may well fall away next season. Add to that (I believe) most of the new contracts given out in the last year do not include automatic salary decreases if we go down.

The bottom line is that we won't be able to afford to keep paying some players £30K or £40K on championship income with crowds of about 15,000 but that is a situation we could soon be in and yet coco has just trousered a good rise for abject failure - if it was my cash, I'd be crapping myself!

Forget it, if Venky's remain, the crowds will collapse to an average of around 11,000 first season down and keep on falling.

[Fowl Play]

Raos having Premier League-level personal wealth is a complete and utter myth put about by the now discredited article written by Nick Harris last January.

Mrs D was convinced she could make a quick buck on buying and selling Rovers within six months apparently but Kentaro messed up getting the buyers for her in the summer. Then Balaji decided he wanted the Rovers toy more than a Bollywood movie with Akon in it or some such and kaiboshed the extremely generous Qatari offer much to the extreme pain and displeasure of Mr and Mrs D if you follow the saga on podcast 17 part 1.

Returning to the lack of brass in the Rao family, to be Premier League rich owners need to have £100s millions in surplus cash which Venky's certainly don't. Many owners have so much wealth that the interest earned on the principal can bankroll their PL club (or with Man City, the interest earned on the interest...) and for sure the Venky's certainly don't earn anything like those amounts in interest receipts irrespective of high Indian interest rates.

Then if the Premier League level of wealth owner does have the surplus cash or interest stream, they have to be willing to spend it on the club. Again Venky's fail even on that criteria because after putting in the money the Walker Trust told them they had to, Venky's have not put another penny into Rovers. Instead they have naively squandered Rovers' wealth recklessly, irresponsibly and with managerial ignorance and incompetence to such an extent that Rovers are now totally beholden to Barclays Bank when there WAS NO NEED FOR ANY OVERDRAFT WHATSOEVER if they weren't just a bunch of chicken brains.

No wonder the bank turned up blowing the whistle today- Nicko's piece rather understates just how severe the problem is if Venky's don't write a cheque for around £20m this month- only half of which would go to transfer funds.

All the indications are that collectively, the Raos don't have that sort of money lying around to write such a cheque for Rovers and that Mrs Desai would as sure as eggs are eggs never allow the family cash to come to Rovers that way even if they did.

And therein lies the reason why the utterly compromised Steve Kean is still the imposter on the throne in my opinion. A cheap skate solution who won't squeal when the Raos cheap skate Rovers again.

Interesting stuff - I'll have to listen to the No. 17 trilogy!

[glen9mullan]

Rovers decision not to part company with Kean IMO will come at a great cost, I fully expect more departures from Rovers on both the playing side, and also from behind the scenes.

How did one man come more powerful than the emperor or Rome? and more importantly WHY?

[Fowl Play]

Forget it, if Venky's remain, the crowds will collapse to an average of around 11,000 first season down and keep on falling.

Yeah 15,000 is probably being optimistic but I just couldn't bring myself to admit that this time next season, we might be getting lower gates than the dingles.

Out of interest, what proportion of 11K do you think would be STs - my expectation would be that STs would fall from about (I believe) 14K to about 9 to 10K

[glen9mullan]

http://atomicsoda.com/blackburn/steve-kean-quotes

Saw this on twitter, The quotes of Kean

[Fowl Play]

Rovers decision not to part company with Kean IMO will come at a great cost, I fully expect more departures from Rovers on both the playing side, and also from behind the scenes.

How did one man come more powerful than the emperor or Rome? and more importantly WHY?

Yep it just defies all common sense and logic on every level - they can't afford not to sack him but I fear that they are keeping him in situ to hide some very shady and sinister goings on.

Just hope it all comes out one day before they literally do kill the club.

[glen9mullan]

Do you think we will ever see Kean making a speech like this one.....

[yestherover]

regardless of the win Saturday Kean is still incredibly fortunate to be in a job.

What rankles with me is the whole way he was appointed. Allardyce might not be the nicest bloke in the world but he didn't deserve to be stabbed in the back and that Anderson fella has too much power. The whole thing stunk, and I reckon Steve Kean was in on it which is why I've never really warmed to him.

If a young manager had came in this season and had these results and performances, but shown willingness to learn and improve, I would not be panicking and calling for sackings, but the whole manner in which Kean got a long term manager's contract, his attitude after the Cardiff cup loss and the treatment of John Jensen make it almost impossible to support him even if we did go on a run of decent results now.

It's the class we used to conduct ourselves with under Jack Walker and John Williams that we should expect. We don't have any class whatsoever in that dugout, which is where you'd at least expect some no matter how rubbish the owners are.

[Neil Weaver]

So in order to have anything to spend in Jan we'll have to sell a couple of players first? Who'd have thought it? Now where's that asset stripping thread gone..........

[SouthAussieRover]

Interesting stuff - I'll have to listen to the No. 17 trilogy!

IIRC ,in podcast 17 part 1, Nicko seems to suggests that the QI interest was a bullet dodged and that they have a habit of appearing to be interested in bidding for a club but don't actually do it.

[USABlue]

He's still here then?

[Mike Graham]

5 votes too many! How can anyone support this lying imposter of a manager?

So in order to have anything to spend in Jan we'll have to sell a couple of players first? Who'd have thought it? Now where's that asset stripping thread gone..........

I see the January transfer issue as one of how many players jump ship rather than who we buy. It will be a struggle to keep: Robinson; Hoillet; Ollson; N'Zombi and Samba.

[alexanders]

I would imagine that the economic problems we are seeing is also effecting the football clubs. This is in many ways a bank crisis where we have new regulatives where the bank have to have a certain percent of liquidity. We also see high costs of funding and from my pov this is why Barclays Bank are shaking. This could be similar to any other large customer credit line.

Maybe someone with deeper knowledge or inside the english bank system could elaborate.

[Brad]

I think there biggest concern would be Venkys London.. Which has had no incoming revenue what so ever!!!

[Kamy100]

I am no financial expert but my reading of the situation is that Venky's have been given two choices by the bank, show us that you have the financial strength to run a premier league club (bank wants further financial assurances) and everything is fine OR if you can't/do not want to give these financial assurances then there is a massive problem (Barclays most likely call in the loan they have given).

In other words Bank is telling Venky's to "put up" or "shut up".

[alexanders]

How big are Barclays ?

How large are the loans given to different PL clubs?

I can see a problem for Barclays Bank if they are deeply involved in the premiership with all the debts talked about among the clubs. They probably want to reduce their involvement among clubs to divide the risk into different areas. This is perfectly normal with uncertain times likes these.

I imagine it will be even tougher to run a PL club in the coming year.

[yoda]

5 votes too many! How can anyone support this lying imposter of a manager?

I see the January transfer issue as one of how many players jump ship rather than who we buy. It will be a struggle to keep: Robinson; Hoillet; Ollson; N'Zombi and Samba.

Lets name and shame them!

barnaby blue, mrtomkiss, rover-the-top, braddock and wakko

they must be on something very potent

How big are Barclays ?

How large are the loans given to different PL clubs?

I can see a problem for Barclays Bank if they are deeply involved in the premiership with all the debts talked about among the clubs. They probably want to reduce their involvement among clubs to divide the risk into different areas. This is perfectly normal with uncertain times likes these.

I imagine it will be even tougher to run a PL club in the coming year.

Barclays did not need a government bailout and stayed independant of the tax payer.

If Barclays say jump to the Roa's then they will jump

[alexanders]

Lets name and shame them!

barnaby blue, mrtomkiss, rover-the-top, braddock and wakko

they must be on something very potent

Barclays did not need a government bailout and stayed independant of the tax payer.

If Barclays say jump to the Roa's then they will jump

That might be, but I am sure they are exposed in different endangered economies such as Baltic, Spain, Greece, France, Italy, Ireland etc..

Even DNB (Norways biggest bank) is struggling with high funding and liquidity demands.

[dave birch]

With Banks, it's all about risk.

The riskier the business, the more security they want and the higher the interest rate.

At a guess, they'll want better than 50% LVR, as Ewood would not be worth that much as a going concern (if football were not being played there).

[davulsukur]

He should of got canned yesterday. Its glaringly obvious the majority of fans will never take to him. He might of got a win on Saturday but next week will be back to the same old stuff.

The owners need to look at the situation and ask themselves is Kean the man to lead this club forward for the future? The answer is clearly, No.

[alexanders]

With Banks, it's all about risk.

The riskier the business, the more security they want and the higher the interest rate.At a guess, they'll want better than 50% LVR, as Ewood would not be worth that much as a going concern (if football were not being played there).

This is actually whats happening around Europe though. Banks need to minimize their risk and because of the risk concerning many EU countries high funding (rate on borrowed money).

To minimize risk it is logical that the Barclays bank would like to divide their portfolio into different branches hence the question about Barclays bank being the main bank for many of the EPL clubs?

It says a lot when even in rich Norway we are facing different tasks everyday concerning risk, funding etc.

[AllRoverAsia]

Lets name and shame them!

barnaby blue, mrtomkiss, rover-the-top, braddock and wakko

Credit though to wakko for being honest in his/her username.

They've got want the wanted - 5 minutes of fame.

[dave birch]

This is actually whats happening around Europe though. Banks need to minimize their risk and because of the risk concerning many EU countries high funding (rate on borrowed money).

To minimize risk it is logical that the Barclays bank would like to divide their portfolio into different branches hence the question about Barclays bank being the main bank for many of the EPL clubs?

It says a lot when even in rich Norway we are facing different tasks everyday concerning risk, funding etc.

Alexanders, that's whats happened in Australia for years, that's why we haven't experienced a "Banking crisis". Banks here haven't been put in that risky situation.

Having said that, Barclays have been pulling back on loans or advances to EPL teams. It's only the big rollers that have had their "credit" maintained.