[Archived] New Mortgage

[Miker]

The same clauses that where removed in all new contracts handed out by Kean?

I hope not. And again, I don't know if that is true or not, but everyone should be livid if that is the case, including myself.

[yoda]

Got to be greater than 5.

Close to 10 if current debt really is more than £40m in which case the Directors need to be taking personal legal advice from ENGLISH solicitors now. Protesting that even the most inconsequential of decisions are taken in Mrs Desai's private office is no defence if you hold the post of Director under English Law.

Miker, I couldn't give a damn about the new mortgages at other clubs. The Trust explicitly set up the sale so Rovers would not need one so something has gone horribly wrong.

They should know that they need to start documenting their personal recomendations and the effectivness of them and show task inteference of any sort by the owners and compile a string of objections and build a case that they have been rendered ineffective as directors because of the structure at the club, like now if not already started. Kean going above directors direct to the owners would be a very useful action to help them defend any suits

[Hughesy]

So lets get this straight....it doesnt actually say what the overdraft figure is? It simply says its secured against future earnings from being in the Prem?

So where has the £40m debt figure come from??? Pure guess work?!

[philipl]

So lets get this straight....it doesnt actually say what the overdraft figure is? It simply says its secured against future earnings from being in the Prem?

So where has the £40m debt figure come from??? Pure guess work?!

You've not been listening to the jungle drums in Blackburn Hughesy.

As I wrote when I introduced the number, I find it all but impossible to believe because Venky's will have to have doubled operating costs in a single year. But as has been pointed out, Anderson is still hanging around the club and figures of £10m+ for the Formica deal have been mentioned so I guess anything is possible.

Sadly, Venky's have taught us to fear the worst because the reality is going to be even worse than anything you imagined it could be.

I am not as sanguine as Miker- I heard five players' contracts lost their relegation clauses during Kean's "buy the players' loyalty" charm offensive last February and three of those five come into the all but impossible to move on if we go down category.

[thenodrog]

I'm not too worried about this, I'm currently putting together a short list of other team I'm going to support once Blackburn go under, not come up with any yet but early days.

I understand Burnley are in a financial crisis too, Kilby and more particularly Brendan Flood have apparently benefitted from Premier League money more than the clubs coffers. Probably a similar tale with Karl oyston at Blackpool too. Bolton are indebted to Eddie Davis to the tune of 80m+ and paying a big interest rate on it. As for PNE who knows? Hemmings won't go bust but he hates football clubs and footballers in particular. He's a racing man and is only sticking around Deepdale to suit a whim of his son. Whelan is getting older and reckons that he won't burden his kids with the ownership of Wigan. Stanley don't figure.

Basically Top level football is unsustainable for clubs our size so the inevitable is getting ever closer......... Altogether now.....

Ohhhh Lanky Lanky. Lanky Lanky Lanky United!

[AndyNeil]

Philip, I've just tried to PM you, but I presume your inbox is full...I'm after a copy of the documents please

[roverwhelmed]

I understand Burnley are in a financial crisis too, Kilby and more particularly Brendan Flood have apparently benefitted from Premier League money more than the clubs coffers. Probably a similar tale with Karl oyston at Blackpool too. Bolton are indebted to Eddie Davis to the tune of 80m+ and paying a big interest rate on it. As for PNE who knows? Hemmings won't go bust but he hates football clubs and footballers in particular. He's a racing man and is only sticking around Deepdale to suit a whim of his son. Whelan is getting older and reckons that he won't burden his kids with the ownership of Wigan. Stanley don't figure.

Basically Top level football is unsustainable for clubs our size so the inevitable is getting ever closer......... Altogether now.....

Ohhhh Lanky Lanky. Lanky Lanky Lanky United!

Really? I used to go to school with two of his kids, and I know one of his granddaughters, and they didn't seem to think so?

Chatting to some Liverpool and Arsenal fans on Sat (the type that don't go) and they were moaning about not getting enough TV money so they can't compete in Europe. Meh, football is getting further and further away from what it should be. Depressing.

[Glenn]

please can someone PM me the document to me on the forum thank you.

No. a. They are too big and b. We want them nowhere near the forum as they are technically not public (though anyone can legitimately obtain them from Companies House for a few quid)

I understand Burnley are in a financial crisis too, Kilby and more particularly Brendan Flood have apparently benefitted from Premier League money more than the clubs coffers. Probably a similar tale with Karl oyston at Blackpool too. Bolton are indebted to Eddie Davis to the tune of 80m+ and paying a big interest rate on it. As for PNE who knows? Hemmings won't go bust but he hates football clubs and footballers in particular. He's a racing man and is only sticking around Deepdale to suit a whim of his son. Whelan is getting older and reckons that he won't burden his kids with the ownership of Wigan. Stanley don't figure.

Basically Top level football is unsustainable for clubs our size so the inevitable is getting ever closer......... Altogether now.....

Ohhhh Lanky Lanky. Lanky Lanky Lanky United!

Big troll is trolling

[seanc88]

Wouldn't it be nice for to wake up and see good rovers news for a change.

[OJRovers]

Would the facility not just be for cashflow needs (mainly wages)? Wages will be paid monthly, but the Premier League money is paid every 6 months. The facility will be to cover this mismatch.

Or is that not evil enough?

[The Gull]

Philip, I've just tried to PM you, but I presume your inbox is full...I'm after a copy of the documents please

Andrew,

I've got them off Miker so can forward them to your address which I have from when you supplied me with the last Rovers accounts.

On their way now.

[Ralfinho]

Andrew,

I've got them off Miker so can forward them to your address which I have from when you supplied me with the last Rovers accounts.

On their way now.

Would it not be easier to upload to a hosting site then post the link for who ever wants to download it?

[LeChuck]

Would the facility not just be for cashflow needs (mainly wages)? Wages will be paid monthly, but the Premier League money is paid every 6 months. The facility will be to cover this mismatch.

Or is that not evil enough?

It doesn't really make any sense.

If we're borrowing to cover that scenario, then we're already eating into the next Sky payment before it's arrived. If the money to do that is coming from debt secured against the club's revenue, then it's a dangerous situation.

[Pedro]

This thread - and pretty much the site - is pure guesswork and panic as usual. We are just going around and around in circles and people are going to build themselves up into a stressed out frenzy based on these frequent conspiracy theories.

We knew they needed to remortgage (common knowledge) and we know that they have remortgaged (common knowledge). This is just the specific terms of the deal and gives Barclays (who are up to their necks in the brown stuff) the security that they require. It isn't perfect but it is entirely necessary.

These people are the owners of our club and we simply have to live with it and hope their intentions are good. Constant guesswork, rumour mongering and accusations don't help because we are alienating ourselves from the power brokers and decision makers. In the last week alone we have had the contract extention conspiracy, the mystery blonde in the ticket office with the press conference conspiracy and the sacking of one of the Hunts conspiracy - none of which have happened despite such (so called) great reliable sources of info...simply put, this isn't a very good place for reliable information.

We need to unite as supporters and do everything we can in terms of getting behind the team (regardless of who the manager is) to help get victories and good feeling back in Blackburn. It's not that I don't entirely believe in what people are protesting against, because we aren't being run in a way that we are used to, but I also don't think that the protesting is serving its purpose..in fact, it's having the opposite effect because of a large amount of the ammunition being shoddy and unreliable.

[Glenn]

I don't like taking new users to task, but you make it so easy (and stay with it to the end, it's not all bad news)

This thread - and pretty much the site - is pure guesswork and panic as usual. We are just going around and around in circles and people are going to build themselves up into a stressed out frenzy based on these frequent conspiracy theories.

From the man posting conspiracy theories about the Pune 9 that reading the thread he was actually posting in would have saved him looking silly.

We knew they needed to remortgage (common knowledge) and we know that they have remortgaged (common knowledge). This is just the specific terms of the deal and gives Barclays (who are up to their necks in the brown stuff) the security that they require. It isn't perfect but it is entirely necessary.

<br class="Apple-interchange-newline">This was pretty much the stated opinion of the only two people on here who have professional a professional knowledge of the subject

These people are the owners of our club and we simply have to live with it and hope their intentions are good. Constant guesswork, rumour mongering and accusations don't help because we are alienating ourselves from the power brokers and decision makers. In the last week alone we have had the contract extention conspiracy, the mystery blonde in the ticket office with the press conference conspiracy and the sacking of one of the Hunts conspiracy - none of which have happened despite such (so called) great reliable sources of info...simply put, this isn't a very good place for reliable information.

<br class="Apple-interchange-newline">

The contract extension, whilst I initially took as comical, now concerns me that none of the people I asked as the club for a statement on (to help squash silly damaging rumors) have responded. The mystery blond (who I suspect many people know exactly who PB was hinting at) turned out (as many twigged at the time) was talking about the appointment of a new FD (again mentioned on here months ago).

I agree that there is lots of absolute bunkem posted, but if you stick around (and I hope you do), you'll get a feel for who to believe, who have agendas to promote and who are just making stuff up to look clever.

<br class="Apple-interchange-newline">

We need to unite as supporters and do everything we can in terms of getting behind the team (regardless of who the manager is) to help get victories and good feeling back in Blackburn. It's not that I don't entirely believe in what people are protesting against, because we aren't being run in a way that we are used to, but I also don't think that the protesting is serving its purpose..in fact, it's having the opposite effect because of a large amount of the ammunition being shoddy and unreliable.

Now THIS is agree with. Nice work

[Glenn]

I don't like taking new users to task, but you make it so easy (and stay with it to the end, it's not all bad news)

This thread - and pretty much the site - is pure guesswork and panic as usual. We are just going around and around in circles and people are going to build themselves up into a stressed out frenzy based on these frequent conspiracy theories.

From the man posting conspiracy theories about the Pune 9 that reading the thread he was actually posting in would have saved him looking silly.

We knew they needed to remortgage (common knowledge) and we know that they have remortgaged (common knowledge). This is just the specific terms of the deal and gives Barclays (who are up to their necks in the brown stuff) the security that they require. It isn't perfect but it is entirely necessary.

This was pretty much the stated opinion of the only two people on here who have professional a professional knowledge of the subject

These people are the owners of our club and we simply have to live with it and hope their intentions are good. Constant guesswork, rumour mongering and accusations don't help because we are alienating ourselves from the power brokers and decision makers. In the last week alone we have had the contract extention conspiracy, the mystery blonde in the ticket office with the press conference conspiracy and the sacking of one of the Hunts conspiracy - none of which have happened despite such (so called) great reliable sources of info...simply put, this isn't a very good place for reliable information.

The contract extension, whilst I initially took as comical, now concerns me that none of the people I asked as the club for a statement on (to help squash silly damaging rumors) have responded. The mystery blond (who I suspect many people know exactly who PB was hinting at) turned out (as many twigged at the time) was talking about the appointment of a new FD (again mentioned on here months ago).

I agree that there is lots of absolute bunkem posted, but if you stick around (and I hope you do), you'll get a feel for who to believe, who have agendas to promote and who are just making stuff up to look clever.

Part of the problem is the club used to be very good at getting info to the fans and even when it wasn't clear, you could give John Williams or Tom Finn a call and get things clarified. Now it seems people at the club either don't know whats going on or aren't willing/able to talk about it.

We need to unite as supporters and do everything we can in terms of getting behind the team (regardless of who the manager is) to help get victories and good feeling back in Blackburn. It's not that I don't entirely believe in what people are protesting against, because we aren't being run in a way that we are used to, but I also don't think that the protesting is serving its purpose..in fact, it's having the opposite effect because of a large amount of the ammunition being shoddy and unreliable.

Now THIS is agree with. Nice work

[Pedro]

I don't like taking new users to task, but you make it so easy (and stay with it to the end, it's not all bad news)

From the man posting conspiracy theories about the Pune 9 that reading the thread he was actually posting in would have saved him looking silly.

Thanks for the response Glenn. As for my own little conspiracy theory I have to be honest and say that I had/have no reason to doubt the info I was given - and having double checked the said info, I still don't have reason to doubt it - especially with it originating from someone's nearest and dearest I genuinely didn't follow it up in order to avoid opening up a can of worms - but I also wouldn't want to come accross silly now either

So, just to confirm for my own clarification or whether I've been fed some untruths - was it only supporters from this particular site who were invited to Pune first class etc. or was it also from another BRFC forum? Also, who is the "owner" of this site?

[47er]

My understanding is that this was never repaid and that is why we ended up with the mess with Jones transfer money. Barclay's held the money until Venkys sorted out what they wanted to do.

Personally I don't think Venkys are rich enough to run an EPL. They are also not clever/wise enough to appoint the best people to run Rovers for them.

No--you have this completely wrong! Rovers Mum told us they are rich enough to fulfill the desires of every Rovers fan.

These are obviously temporary banking arrangements while the owners try to cope with the massive disruption caused by the protestors!

[cn174]

Thanks for the response Glenn. As for my own little conspiracy theory I have to be honest and say that I had/have no reason to doubt the info I was given - and having double checked the said info, I still don't have reason to doubt it - especially with it originating from someone's nearest and dearest I genuinely didn't follow it up in order to avoid opening up a can of worms - but I also wouldn't want to come accross silly now either

So, just to confirm for my own clarification or whether I've been fed some untruths - was it only supporters from this particular site who were invited to Pune first class etc. or was it also from another BRFC forum? Also, who is the "owner" of this site?

It was the Rovers official fans forum Linky to Official website. Not an internet forum. An actual meeting of people in real life that happens every two months or so. It happens that some people who are on the fans forum are also on this website. No it wasn't just people from here that went to Pune.

Glenn and Ste B own the site.

[Glenn]

Glenn and Ste B own the site.

I'd love to claim that we are mere custodians of it on behalf of the fans, but I can't imagine that would satisfy either a court or the tax man.

Technically, by the letter of the law, it's owned by BRFCS Ltd. A limited company Ste and myself set up to provide a legal framework for ownership of assets, so we can do everything above board with regard the tax man and to limit the personal liability we face on behalf of the site. However we neither draw a wage nor pay ourselves any dividends, the company is really there for administration purposes.

[broadsword]

No--you have this completely wrong! Rovers Mum told us they are rich enough to fulfill the desires of every Rovers fan.

These are obviously temporary banking arrangements while the owners try to cope with the massive disruption caused by the protestors!

In the meantime can you please lend them a fiver.

[Hekla]

Will our supporters create a new team in the lower leagues when we go under then? AFC Blackburn?

[imy9]

No--you have this completely wrong! Rovers Mum told us they are rich enough to fulfill the desires of every Rovers fan.

These are obviously temporary banking arrangements while the owners try to cope with the massive disruption caused by the protestors!

Kamy said that he has seen paperwork to show that Venkys have 'substantial funds'

[bob fleming]

Kamy said that he has seen paperwork to show that Venkys have 'substantial funds'

Well it would be awfully nice of them to put some of their own skin in the game, you know, as a gesture.

To date it's been awfully risk free for them. What have they lost? They've gained an awful lot of publicity. We've endured all sorts, including the worst run of results that I can recall in my time following Rovers (30 years), a club I can no longer believe in and more mixed messages and propaganda than I thought possible. The continued presence of Kean, Anderson and co is nothing short of criminal.

So, as others have said; what have the Venkys done for us?

The accounts and balance sheet out in December will reveal all I suspect.

Let's be honest though, money aside, if they gave a damn they'd have made changes a while ago. Don't they have league tables and form guides in Pune? Or doesn't that matter?

[riverside returns]

Well, here we go again. I do believe if sources are to be believed that our two intrepid travellers, Ian's B and C are about to become the backbone of our club. What a truly fabulous idea. Two fans on the board of our club, two men who are well connected within the game and who if you cut them would bleed blue and white. Both me born and bred in the locality.

It seems that our owners are at last starting to get to grips with the idea of running a PL club and if the rumours are to be believed, will allow local people to be the mouthpiece, the common sense and the guiding light to move us towards the future. Now I am sure that there will be plenty of doubters about these two but their motives and reasons are honourable and they will fight to make our club the one we all want.

I do believe the owners are coming over and it would be a good idea to show them 'not how much we are disillusioned' but more 'just how much we follow and support our team and our club' So come the game on Saturday, lets all get behind our club and give the owners every reason to back us with financial support.