[Archived] Venky's: A Year On

[FourLaneBlue]

Telegraph article on Club debts

The club is screwed.

Leeds, Pompey, now Blackburn Rovers FC.

[BuckyRover]

The club is screwed.

Leeds, Pompey, now Blackburn Rovers FC.

It certainly seems that way

[2k.]

So much for the Premier leagues fit and proper test? Why do they still refuse to investigate these matters?

To be honest PhilipL has been warning us about this sort of thing for a while, it's just frustrating that it's only after a year of obvious mismanagement that the press are finally looking into it

[Manc Rover]

From today's Daily Telegraph

http://www.telegraph.co.uk/sport/football/teams/blackburn-rovers/8924269/Blackburn-Rovers-owners-Venkys-under-the-microscope-as-Barclays-Bank-demands-reduction-in-clubs-debt.html

[philipl]

Why do these people hate the town of Blackburn so much?

[walk down bolton road]

Venkys are the cause of the problem,coco is just a sympton of the problem,both need eradicating.But mainly Venkys just getting shut of coco is not enough it would still leave the chuckle brothers and the wicked witch of the east overseeing the continual destruction and ultimate ruin of Blackburn Rovers football club.

[Jimmy612]

The club is screwed.

Leeds, Pompey, now Blackburn Rovers FC.

I think the end of all this will leave the club in a much worse position than those two unless a seriously wealthy benefactor turns up who is willing to chuck lots of good money after bad. I must say if I had the wherewithall and the inclination I think the wise move would be to bide my time and buy the club for next to nothing off the Receivers in a year or so's time and after the Venkeys have sold off everything that isn't nailed down.

Why do these people hate the town of Blackburn so much?

Which people?

[AllRoverAsia]

Telegraph article on Club debts

They appear to have completely mortgaged the Club's income and property to the Bank just to cover existing dept.

Expect the sale of at least Samba and Hoilett in January with no worthwile purchases.

I read somehwere that Kean meets with the Venkys this week - in view of his 'throwing' the game against Cardiff do not bu suprised if he now gets his contract extended.

When this farce is over the Rovers experience will be used as a model of how not to run a football club.

I have learnt something though - I understand why the Raos surround themselves with security.

[broadsword]

I thought they took out another mortgage, so they have two. One transferred to Venky's (London) Ltd. but secured on the club, and another one for £100m, again secured on the club.

[Myles Anderson]

Rovers owners invited for urgent talks with council leader

http://www.lancashiretelegraph.co.uk/sport/football/blackburn_rovers/news/9392826.Blackburn_Rovers_owners_invited_for_urgent_talks_with_council_leader/

[rovers11]

The article in the Telegrapg regarding Blackburn's finances was not as bad as I had feared. From rumours, I thought they had further increased our debt to unimaginable levels, however, it just appears as though they haven't paid off the existing debt we had of £21m. It is quite normal for the banks to want more security on their loans (partic after the financial crisis and the real possibility of us being relegated). Obviously, we would take a hit financialy if we went down and would have to sell some players but that's normal for any club that goes down. Although it does beg the question as to why Venkys haven't just paid the debt off if they are so rich?! Just imagine what sort of crisis Bolton are going to be in if they go down, esp with their debt level.

The real crisis at the moment is the lack of management on and off the pitch.

[Kelbo]

The article in the Telegrapg regarding Blackburn's finances was not as bad as I had feared. From rumours, I thought they had further increased our debt to unimaginable levels, however, it just appears as though they haven't paid off the existing debt we had of £21m. It is quite normal for the banks to want more security on their loans (partic after the financial crisis and the real possibility of us being relegated). Obviously, we would take a hit financialy if we went down and would have to sell some players but that's normal for any club that goes down. Although it does beg the question as to why Venkys haven't just paid the debt off if they are so rich?! Just imagine what sort of crisis Bolton are going to be in if they go down, esp with their debt level.

The real crisis at the moment is the lack of management on and off the pitch.

I think you will find the debt to be much higher than that and there is a mortgage of £100 million according the people who understand finances and have checked with companies house!!

[rovers11]

I think you will find the debt to be much higher than that and there is a mortgage of £100 million according the people who understand finances and have checked with companies house!!

The finances filed to companies house state that are debts are secured against all future income (future income equates to about 100m with sky money and parachute payments). Venkys have not actually taken a 100m loan out against the club - it is purely security on our existiing 21m debt.

[booth]

The finances filed to companies house state that are debts are secured against all future income (future income equates to about 100m with sky money and parachute payments). Venkys have not actually taken a 100m loan out against the club - it is purely security on our existiing 21m debt.

It's all a big fat lie.

They said they would be no more debt originally. Or rather Venkatesh did.

[tomphil]

The article in the Telegrapg regarding Blackburn's finances was not as bad as I had feared. From rumours, I thought they had further increased our debt to unimaginable levels, however, it just appears as though they haven't paid off the existing debt we had of £21m. It is quite normal for the banks to want more security on their loans (partic after the financial crisis and the real possibility of us being relegated). Obviously, we would take a hit financialy if we went down and would have to sell some players but that's normal for any club that goes down. Although it does beg the question as to why Venkys haven't just paid the debt off if they are so rich?! Just imagine what sort of crisis Bolton are going to be in if they go down, esp with their debt level.

The real crisis at the moment is the lack of management on and off the pitch.

Bolton owe their debt mostly to Eddie Davies don't they ? Im sure he would restructure it if they go down, they'll be skint but he won't let them go bust i don't think.

[rovers11]

It's all a big fat lie.

They said they would be no more debt originally. Or rather Venkatesh did.

That's the frustrating part - these guys are seriously wealthy but seem reluctant to put any of their own money in.

Bolton owe their debt mostly to Eddie Davies don't they ? Im sure he would restructure it if they go down, they'll be skint but he won't let them go bust i don't think.

Don't know who they owe money to. Their only player of any real worth is Cahill so they don't really have any assets to sell - big stretch on Eddie Davies. Not sure how wealthy he is?!

We have Samba, Olsson, N'zonzi, Robinson, Dann who would all fetch decent amounts if they were to be sold. Or, best case scenario, Venkys start bankrolling the club as they said they would and therefore pick up the shortfall.

[Steve Moss]

Why do these people hate the town of Blackburn so much?

Because we're taking a PL spot which could be filled by a more deserving and marketable London team?

[Brfcrule1]

I did not know where to put this but I feel people need to know watching SSN today I hear the parent company of Pompey has gone into administration and they were talking of the saga that has gone on there.

They are looking for their 7th owner and all the problems of players wages and other things

and it is hardly surprising what has happened there and there are similar paralells with our unfortunate situation

they then went onto the fit and proper persons and it is no wonder a lot of clubs are in a perilous position they are the Premier League needs to take the full blame for what has happened at Pompey, Leeds, & the problems we are facing

they went through what is said in the test and quite frankly myself or my cat could take over a football club all this and as Nicko quoted they are supposed to have beefed up the test

anyway the points they were saying on SSN today you need to pass this test is:

1. No-one can take over a club if they are a convicted criminal.

2. owners must display evidence they can run the club sustainably.

3. An owner can't takeover a club if they have placed a previous club in administration.

For me the most alarming one of the lot is the 3rd point unless I am missing the point it seems the Premier League are encouraging potential owners to run clubs recklessly and place them into administration unless I am missing the point?.

It seems no where in the test does it state you have to prove the money you are investing is yours and the origin of the cash no wonder Thaksin passed such a weak and pathetic test

It explains a lot as to why we are having such problems

It seems quite clear the Premier League do as little as possible to find out about potential owners then hang these clubs out to dry

It is a sickening situation and something the Premier League needs to sort out

I also believe the Premier League needs to write in their test and check up on it regularly that potential owners should invest their own money into buying a club not do what Venkys have done and mortgage the club to the hilt and punishments meeted out to owners who don't follow the rules otherwise more clubs will go the way of leeds,Pompey etc.

I have to finally admit after hearing this I am very fearful and worried for this beloved club with all the antics going on I hope we survive this.

[ABBEY]

Why didn't they sell ? Or was it all lies?

I

Ready for another venky sleepless night!!!

[arbitro]

I'm not sure if this has been reported yet but my daughter's friend lives adjacent to Ewood and she told her last night that the Rao's were at the ground last night. She distictly said the Mrs D was amongst the party. I read a post from Kamy that there was a meeting in London imminently and I think the imposter said something about meeting them to arrange his transfer budget. Could this finally be the day the imposter gets the tin tack with the wicked witch coming over? But given the random nature of their decisions so far there could well be reports of another new contract today!

[philipl]

Unfortunately, the Venky's are now sitting on a large theoretical currency gain through their holding of a theoretical Premier League club.

[Amo]

Qataris showing Venky's how it's done.

[Majiball]

Qataris showing Venky's how it's done.

Perhaps we should make a cheeky bid for Ronnie, you never know.

[Mercer]

Edit

[Mattyblue]

Bugger Ronnie and Becks:

http://www.guardian.co.uk/football/2011/dec/01/venkys-blackburn-free-concerts?newsfeed=true