[Archived] Podcast 14

[Kelbo]

Philip - couple of questions:

Do the players still have preferred rights to secure their wages before any creditors, in the case of administration, surely Barclays would take this into account as part of the lending process, and with Rovers at around the 80-90% turnover mark on wages alone - would this not drastically lower the funds actually available in the borrowing figure? Or would preferred creditor debts be considered only after secured debts?

The borrowing has been secured against both this season and also 3 (i think) further seasons (even if that includes parachute payments) - is this not just a method for Rovers to have funds available if and when neccesary but over a longer time-frame, otherwise every close season the deal would have to be re-negotiated at the time transfer budgets needed to be set. To me this would be a viable method of being able to plan for the future over 2-3 years. Is this viable?

Obviously I dont know if either of the 2 points are likely, and it would be unusual to arrange to borrow far more than you needed, but in a way I'm looking to play a little devils advocate, and see if there are alternative to the scary thought that our owners are basically plunging us into a mass of debts, and using our only funds as security - basically putting us on the precipice of administration.

I am unsure about the players being preferential but in normal business trading, employee wages have to be preferential, before banks and the HM Customs and revenue!!

In the event of a players contract not being honoured, the club or its owners are banned from any form of football until such time as they pay fines imposed on them, Graham White who was the owner in Colne Dynamos cannot get involved in any kind of football until he pays a £10,000 fine (remember this was non league too) for not honouring a players contract when he closed down Colne Dynamos!

[OJRovers]

I'm sure someone will know the exact rule, but there is definitely a scheme where clubs have to put upfront players wages for a certain amount of time, its a Premier League/ FA rule I think.

In terms of Venkys using Rovers as funding for a UK expansion, they won't be able to take cash out of one company into another at the expense of the bank - hence all the collateral required for the facility.

[sharpysharps]

File not found when I try to play the podcast

[DE.]

I noticed in the podcast it was mentioned there was a group seriously interested in buying the club, and I think it might have been philipl who said they didn't care what position we were in. Out of curiosity did you mean this season in the premier league, or would they consider buying us even if we were a championship club?

[Glenn]

Aye, sorry about the podcast guys. So we don't kill this server when we release a podcast we use a worldwide caching system (so you grab the podcast from a server close to you, rather than our server), sadly this caching can sometime take a while to "catch up" if we change something (as we had to earlier). Normally it's around 30 mins, last night it was more than four hours (that's when I got bored and went to bed). I should be working again soon* (*for some value of 'soon').

[Doug]

I wish I hadn't heard it!

[DE.]

I wish I hadn't heard it!

I don't know, the stuff about there being an alternative to Venky's was refreshing to hear... despite everything else. Venky's are the worst thing to happen to this club in a very long time, so if there is any small chance of them going and somebody else coming in (who could do worse?) then that pleases me slightly.

[philipl]

I noticed in the podcast it was mentioned there was a group seriously interested in buying the club, and I think it might have been philipl who said they didn't care what position we were in. Out of curiosity did you mean this season in the premier league, or would they consider buying us even if we were a championship club?

Kamy said this.

I personally think it would matter enormously that we are still in the Prem so would beg to differ.

QAnswering another question, in the event of a winding up, football debts take preference still. Hence I suspect the bank will take out security which would mean both they and the footbll debts are paid and restrict their lending accordingly.

The Football Select Committee has recommended the ending of football precedence in their very detailed investigation into Leeds.

[Doug]

I don't know, the stuff about there being an alternative to Venky's was refreshing to hear... despite everything else. Venky's are the worst thing to happen to this club in a very long time, so if there is any small chance of them going and somebody else coming in (who could do worse?) then that pleases me slightly.

When you say 'despite everything else', that's the stuff that worries me! I obviously haven't fully understood this Podcast, as I interpreted it as potential disaster for us! Have I got that bit wrong? (please tell me I have).

[Mercer]

Kamy said this.

I personally think it would matter enormously that we are still in the Prem so would beg to differ.

QAnswering another question, in the event of a winding up, football debts take preference still. Hence I suspect the bank will take out security which would mean both they and the footbll debts are paid and restrict their lending accordingly.

The Football Select Committee has recommended the ending of football precedence in their very detailed investigation into Leeds.

If Venky's issued / paid share cap in Rovers is almost £40m and allegedly we have £40 to £60m debt and Venky's want to walk away with no losses, you really think there are would be purchasers out there given that operationally, things are possibly not whiter than white ?

[DE.]

When you say 'despite everything else', that's the stuff that worries me! I obviously haven't fully understood this Podcast, as I interpreted it as potential disaster for us! Have I got that bit wrong? (please tell me I have).

My shred of optimism comes from the possibility somebody else could save us. However, once these people start due diligence they'd probably quickly back out

[roverandout]

doesnt work for me either, darn it, was looking forward to listening to it.

[Mc Love]

Finally put aside time to listen to it, cant find it on itunes, and the links dont work on here

[Rovers_786]

Not working for me to.I like say to uncel LOL Clement was involved in the brawl.

[glen9mullan]

Not working for me to.I like say to uncel LOL Clement was involved in the brawl.

This is untrue, and the I have spoke with the club on this matter and they are investigating it, and have spoken with the individual. Its very important not to brand people with false accusations, Clement was NOT involved

[Rovers_786]

This is untrue, and the I have spoke with the club on this matter and they are investigating it, and have spoken with the individual. Its very important not to brand people with false accusations, Clement was NOT involved

Where I was sitting I thought it was him so it not him that's OK.Glenn why did the papers pick this up and saying it was Paul Clement.

And when will this recording be on the forum cheers

[glen9mullan]

Where I was sitting I thought it was him so it not him that's OK.Glenn why did the papers pick this up and saying it was Paul Clement.

And when will this recording be on the forum cheers

Because pepers write about rumours they often pick on boards like this, The recording wont be on this forum as its a Vital Blackburn Podcast and will be on their site, prob tomorrow

[roversmum]

This is untrue, and the I have spoke with the club on this matter and they are investigating it, and have spoken with the individual. Its very important not to brand people with false accusations, Clement was NOT involved

As I said in the first place...

[Glenn]

Because pepers write about rumours they often pick on boards like this, The recording wont be on this forum as its a Vital Blackburn Podcast and will be on their site, prob tomorrow

I assume he's talking about our podcast, not the Vital one, which will be available on here again very soon (hopefully within the hour).

[Rovers_786]

I assume he's talking about our podcast, not the Vital one, which will be available on here again very soon (hopefully within the hour).

You have nailed it for me :lol: :lol:

I will be happy to listen to both.

[msc1974]

New link here:

[DeadlyDirk]

Great podcast, very insightful.

[Glenn]

Should be working again now

[Rover9]

Just downloaded it off itunes so it seems to be working on there again, will have a listen this evening!

[trueblue]

How much has been edited out though, in version 'B'

(only joking... I'm not trying to stir the brown stuff )