[Archived] New Mortgage

[bob fleming]

Can nobody grasp the reason for people from another continent with no interest whatsoever in English football actually being here?

I have now Gord following your post. Thanks.

[thenodrog]

Standing aside from Rovers on this one and thinking about other clubs mentioned here such as Bolton, Wigan and Everton. This thread is an indictment of ALL PL clubs, the wider PL management and possibly the FA. Collectively the clubs hold somewhere in the region of £3 billion of debt.

Given the vast sums which have flowed into the PL since its, very recent, formation this discussion clearly shows the extent to which the PL clubs and their individual management teams have wasted billions of £££££.

Sky money was always going to be the death of football, all it required was some rather stupid chairmen and directors to help it on its way.

This situation for any club was never necessary.

'desperate's' a better word Paul. The desperation caused by fear of relegation and an end to the gravy train was the cause of these 'short term gain / long term loss' policies. It's why managers like Hughes and Allardyce who can regularly defy gravity were so important to us. If anyone is daft enough to still dispute this (and there are a few still around spitting defiance) they'll become aware of the error of their ways soon enough.

Yes yes yes yes yes! Can't echo this enough.

The facts are we as fans can chose to be either one of two types. The 1st is the high brow fan who tuts at debt and expects their club to be self sustaining and running well within its means. Or the 2nd, a bunch of frenzied crazy men and women who find a voice every August and January during a transfer window. As fans of a club of our stature cannot realistically do both. Which is why i cannot fathom why anyone in their right mind would even contemplate becoming a football club owner. Most fans want to see the club chucking bucket loads of cash at its playing squad at every opportunity, yet snarl when the club makes a loss or borrows from the banks to fund it. For all their very obvious faults, Venky's could not win in this regard.

Correct and thats why

a. Very few new owners of clubs are British.

b. The Walker Trust sold out. If there was the possibility of making good and regular profits from owning a Prem club they'd still be the owners of BRFC.

[thenodrog]

It's about expectations, did I expect Venky's to provide SOME finance for player purchases? 5million a window etc? Yes, I think we all did.............

BRFC is a loss making venture at the best of times, our whole business model is reliiant on PL status, I just cannot comprehend the risks these people have taken.

Well I for one didn't Matty, and for the reasons that you yourself gave just a paragraph later. In a nutshell wealthy people didn't get rich by funding lame duck businesses. Rem what Sugar said about 'prune juice', 'carlos kickaballs' and 'idiot with a death wish'? In the end he couldn't offload Spurs quickly enough could he?

[BangkokRover]

Oh well there goes another thread totally screwed by the muppets

Thanks for the input Phillip and Miker

[thenodrog]

Ewood Park would go to the wall as well, because of the poor transport links.

??? Transport shoul;dn't be a problem. Ewood is half a mile from the M65 Bryan. And similar distance to two stations on the Blackpool / Colne line and one on the Manchester line.

In truth any amalgamation would require the old grounds being sold off and a big new one built in order to appease the natives.

I have now Gord following your post. Thanks.

sorry bob, not aimed at you.

[ewoodnews]

Does anyone still have the report that they could send to my email? would like to read it and i am intrested in business and doing a maths degree so might do some work for uni on it.

[broadsword]

??? Transport shoul;dn't be a problem. Ewood is half a mile from the M65 Bryan. And similar distance to two stations on the Blackpool / Colne line and one on the Manchester line.

Preston is easier to get to for a start, is it not?

[67splitscreen]

Yes the PL requires the accounts to be submitted regularly and can require additional information as well but this is not for use by the public.

By all means do a credit rating check on the Rovers.

I understand it is not for the public domain but was it not implemented to stop another Pompey situation arising.

If that was to be seen as a potential outcome are there not measures in place to stop it.

Then again do they ever implement their rules before it's to late, by which time we would no doubt be under the FA's jurisdiction.

Experian.......not by me ...... does 67splitscreen exist .....

[roversmum]

Not sure on that, Bryan, there is the main train line but it is some distance away. There isn't so much car parking either. Still, no idea why I'm pondering on this, no intention of going there unless Rovers is playing there in an away match ...

Drog - this Lancashire United of yours(*shudder*) who are they going to play? Have you worked out a blueprint? Think might joint you at the golf club if ever this came to pass - which you might think is a jolly good reason for it not to!!

[broadsword]

I don't even know why I'm talking about it either.

[Glenn]

That's bordering on insanity. All risk and effort with no potential for gain. Especially so within a business that is fuelled by fantastic wealth and is itself the very epitome of greed.

It must explain why all you computer geeks are known as 'anoraks' and not 'suits'.

Don't worry though I'm sure you'll both go to a blue and white heaven.

At the risk of being horribly off topic.

I'm a director of another company as well and freelancing as a sole trader, so I get plenty of time to be a suit. The anorak stuff is my chance to give something back and do something for the community (even if that community is virtual) our "gain" is simply that feeling of doing something good. I'd LOVE to be able to run BRFCS full time and take a wage for doing it, but I simply don't see a business model that supports it

[Veevs]

Not sure if I missed some news along the way.. but who is our current finance director? Or are we still using Mr Brown the part time chap in London?

Overall very scared by the situation with Rovers, have run my own companies etc and dealt with large organisations finances, as well as studying business management and finance as part of my degree, and all this to me sounds very dodgy.

Part of the assurances made when Venkys bought the club involved investment from themselves and increasing income from sponsorship etc.. from the looks of things we have had no investment, we have overspent, we definatly are not getting any income from sponsorship and things just do not sound like they are running smoothly.

Given our past accounts, I simply can not fathom how we have ended up with this new mortgage which occured just after we changed our transfer policy so definatly looks like we have used at least part of this cash.

[John]

These infamous assurances by Venkys - bare faced lies, can tell why they admire Kean having so much in common.

[Veevs]

One thing I was unsure about.. and could do with clarifying is does anyone know if BRFC are funding the marketing/acedemy thing/PR etc in India?

Also it should be noted that certain people got paid large sums for us selling players as well as buying, it was noted by Nicko and others that Zhavi or was it Joob had been hired to get rid of the likes of Kalinic/Andrews et al... i.e. it was not a case of us being approached for a player but us approaching other clubs. In basically transfer listing a player we also are liable performance related contract obligations (this is in place so clubs can't sell a player who has a contractual bonus for being at the club x years just prior to those x years and why many players refuse to hand in transfer requests).

[Miker]

One thing that hasn't been elaborated on is that if the stories about Barclays freezing the accounts were true, then how is it that we were allowed to obtain an additional loan from the bank despite still not having paid the first?

Nicko's story in the summer window went on about how the bank had called in the loan and we couldn't do anything until it was paid. Yet evidently, that loan was never paid and instead a second loan was given out.

[Miker]

Also, assuming the mortgage amount was for the equivalent of the broadcasting money then surely, based on figures from the previous season, that is not enough to cover the entire wage bill. Where does the rest of the money come from? Especially once you take into account transfers as well.

[rebelmswar]

Can nobody grasp the reason for people from another continent with no interest whatsoever in English football actually being here? People who 12 months ago couldn't even find Blackburn on a map just as 99.9% of us had never heard of somewhere called Pune. Take off the blue and white specs and the only reason for Venkeys involvement is to profit financially in some way. imo they have been sold a pup and will struggle to regain their investment which will surely be their only aim once the reallity of their situation hits home.

In my opinion that is the major concern, and has been for awhile.

While at the moment my opinion of them can not sink any lower, if the worst case scenario occurs - Kean remains in charge and we are relegated in horrific fashion - and Venkeys liquidate their Blackburn assets, I may have to scrape the bowels of hell for suitable reference material.

To anyone I have talked to who know nothing of the club, history, etc, all they ever ask is what is it worth in pieces? The business view of this enterprise is chop it up, sell it, and dust off the hands.

Pretty close to frying a chicken.

[bestierover]

Always been the concern. Either a cleaning exercise in respect of dirty cash or a misguided attempt at profiteering.

Whilst the detail of any loans remains unknown, we can only speculate. However, my concern from the off has been sustainability of any investment / profitability.

[thenodrog]

To anyone I have talked to who know nothing of the club, history, etc, all they ever ask is what is it worth in pieces? The business view of this enterprise is chop it up, sell it, and dust off the hands.

Pretty close to frying a chicken.

Or making an omelette by first smashing the egg.

Ever since BRFC has been for sale the considered opinion of our 'village mafia' has been that big money was there to be made by legally asset stripping BRFC whereas actually continuing to run it along established lines could only incur big losses.

[Neil Weaver]

Ever since BRFC has been for sale the considered opinion of our 'village mafia' has been that big money was there to be made by legally asset stripping BRFC whereas actually continuing to run it along established lines could only incur big losses.

One small step along that road to legal asset stripping could be keeping a cheap, hopeless manager in 'charge' so ensuring the club gets relegated, for instance one consequence is saleable players would 'volunteer' to get out..... is there a place in the mafia for me Gord?

[thenodrog]

One small step along that road to legal asset stripping could be keeping a cheap, hopeless manager in 'charge' so ensuring the club gets relegated, for instance one consequence is saleable players would 'volunteer' to get out..... is there a place in the mafia for me Gord?

Exactly. No one would raise an eyebrow if we were relegated first. Maybe thats why a number of senior players contracts were renegotiated to take out the relegation clause last Jan. Player's agents might have seen this coming then and wanted a slice of the action for their men.

So RE: the last bit Neil ........ Only if you've got a spare few million then at least we could buy it from the venkeymob and make a profit from selling the family silver and winding it up ourselves.

[Pedro]

No but a gentleman certainly talks bunkum it seems.

Apart from club employees there were 11 people invited along, 2 on a personal invite (Roversmum and Roversdad) and 9 from the fans forum, I think its quite obvious all those 9 have an interest in the club.

Just what is your issue here you seem very keen to talk about that?

Certainly not bunkum Tom, hence why my lips are sealed. I had purposefully left it alone and had no interest in following it up until Glenn said last night that I made up a conspiracy theory - no I didn't.

I genuinely don't give a flying fook who went on this jaunt, what they did, or whether or not the developed the poops afterwards...but I certainly take offence to the inference that I have concocted the information that someone passed onto me.

I'm sure you or one of the mods have access to my real name - ask people very close to you if my surname is familiar...and there will lay the root of it :!: I genuinely couldn't give a guff though.

[ABBEY]

pedro kean? lol

[Baz]

Standing aside from Rovers on this one and thinking about other clubs mentioned here such as Bolton, Wigan and Everton. This thread is an indictment of ALL PL clubs, the wider PL management and possibly the FA. Collectively the clubs hold somewhere in the region of £3 billion of debt.

Given the vast sums which have flowed into the PL since its, very recent, formation this discussion clearly shows the extent to which the PL clubs and their individual management teams have wasted billions of £££££.

Sky money was always going to be the death of football, all it required was some rather stupid chairmen and directors to help it on its way.

This situation for any club was never necessary.

The situation shouldnt have arisen except for the fact that everyone is doing the same - trying to gamble future revenue as a way of maintaining PL status and therefore current revenue to meet its debts. It only takes 2 or 3 clubs at the bottom of the table to do this, to make sure everyone else has to make the same choices (and the same for those chasing champions league revenue streams).

There are ways around the current situation, IMO these would be:

Go down the "closed shop" route of no relegation (guaranteeing revenues and meaning no risk needs to be taken).

A staged removal of parachute payments which would make the risk too great for the smaller clubs, (but would widen the gap between the smaller & larger clubs).

Increased revenue share of all tv revenues (sky / champions league / cup) across both the whole of the PL and also championship (across all clubs not just the parachute payments), meaning relegation isnt as harsh financially as it currently is.

Neither of the first two are actually good choices, but the third has merit of more clubs having the financial capability to challenge the top teams, but because its counter to their ambitions they simply wont agree to it. It will take a big team to go to the wall before anyone tries to sort this out properly, but yet they are the ones who are most attractive to new buyers and therefore least likely to be affected.The first season of the PL had teams including Norwich (3rd), QPR (5th), Sheff Weds (7th), Wimbledon (12th), Coventry, Ipswich & Oldham - how nice it would be to see these types of teams coming up to the PL and challenging for trophies.

[Pedro]

pedro kean? lol

Hey, I've been accused of being a Venky PR agent, Dingle and now the great man himself

You set of bar stewards !