[Archived] Asset Stripping

[Hughesy]

More like money laundering...

[AllRoverAsia]

Seems a good thread to remind people of the Documentary How to buy a football club. Far easier to buy a Championship club than a premier club and we have seen how easy that is.

My link

Thanks. First time I've seen the full video. Did the PL, FA or anyone pursue it further?

[perthblue02]

Thanks. First time I've seen the full video. Did the PL, FA or anyone pursue it further?

Ha ha it implicated an ambassador of Manchester United the Premier League and FA's cash cow, do you honestly think they would investigate? See No Evil, Hear No Evil, Say No Evil, Keep the cash rolling in

[garnersfags]

Has someone produced, or could someone produce a balance sheet type update on broadly how much was invested, how much has come in, and how much has gone out since the Venkys' took control? Approximate is fine.

It would be useful if what has been mortgaged etc could be included on the balance sheet.

I really feels like money is being taken out of the club, one way or another.

[AllRoverAsia]

Ha ha it implicated an ambassador of Manchester United the Premier League and FA's cash cow, do you honestly think they would investigate? See No Evil, Hear No Evil, Say No Evil, Keep the cash rolling in

Yes indeed. Rather odd that 'someone' had not even heard of the 'Fund' when the funds football face was their very own global ambassador. You'd have thought that there might have been some conflict of interest worthy of disclosure.

The bit about 'who owns the owners that own the owners that own the owners' blew 'fit & poper' out of the water.

[allanncd]

Asset-stripping is not as easy as some people seem to think. Company law gets in the way. BRFC operating company has massive negative reserves = no upstream dividend. The likeliest way is the payment of excessive "management charges" but that has serious implications if it leads to insolvency.

[patrickvalery]

Asset-stripping is not as easy as some people seem to think. Company law gets in the way. BRFC operating company has massive negative reserves = no upstream dividend. The likeliest way is the payment of excessive "management charges" but that has serious implications if it leads to insolvency.

I was going to say that.

Honest.

[Majiball]

Asset-stripping is not as easy as some people seem to think. Company law gets in the way. BRFC operating company has massive negative reserves = no upstream dividend. The likeliest way is the payment of excessive "management charges" but that has serious implications if it leads to insolvency.

Are football clubs governed by the same business laws as everyday businesses?

[Rovers_Dan]

Add Givet, Robinson and Olsson to this shortly.

The ones who are probably worth the most out of what we've got left.

[chaddyrovers]

ddint rovers spend money on Murphy, Best, Rhodes and Etuhu in the summer. all on 30 k plus wages a week

Givet and Robinson should be sold. Robinson past his best. Givet wants to go back to France due to Family reasons.

should keep Martin Olsson until the summer.

[ChrisyG]

Robinson is past his best but lined up for a move back to the premiership. I wouldn't be surprised to see Givet make a move back to the premiership either. Nelsen, he was injured and past his best but signed for Spurs. Roberts is rubbish but plays in the premiership.

[chaddyrovers]

Kean has look very impressive since coming as keeper n Hanley and Dann look a good partnership.

stick with those. will only get better by playing week in week out.

[philipl]

£21m

That is the excess cash received in transfer monies over transfer fees paid shown in Rovers cash flow statement.

That is the most important number inthis thread discussion.

[ChrisyG]

£21m That is the excess cash received in transfer monies over transfer fees paid shown in Rovers cash flow statement. That is the most important number inthis thread discussion.

And that has been used to service debt has it not?

[AndyC]

And that has been used to service debt has it not?

not when we're still over £20M in debt

[Torgeir]

£21m That is the excess cash received in transfer monies over transfer fees paid shown in Rovers cash flow statement. That is the most important number inthis thread discussion.

So much for the £5m each transfer window pledge.

What frustrates me is the likes of A. Cryer who actually thinks we're enjoying good transfer windows without questioning why Venky's aren't spending the money they promised to - no one has ever put them on the spot for this.

[perthblue02]

So much for the £5m each transfer window pledge.

What frustrates me is the likes of A. Cryer who actually thinks we're enjoying good transfer windows without questioning why Venky's aren't spending the money they promised to - no one has ever put them on the spot for this.

It's pretty obvious that all those early statements where scripted by A.N.Other as part of "the plan' , would love to have heard what the student of the world game Mrs D came out with at the premier Leagues 'buy us lunch and your in "test

[Exiled in Toronto]

£21m That is the excess cash received in transfer monies over transfer fees paid shown in Rovers cash flow statement. That is the most important number inthis thread discussion.

Is it not also very out of date ie pre Rhodes and the other summer signings?

[PAFELL]

So much for the £5m each transfer window pledge.

What frustrates me is the likes of A. Cryer who actually thinks we're enjoying good transfer windows without questioning why Venky's aren't spending the money they promised to - no one has ever put them on the spot for this.

Spent 8 mill on rhodes in last window.

[tugayislegend]

I don't think venkys have made ANY profit from rovers, in fact i am sure they have lost money! Since relegation we are losing approx £2 million a month. Wage bill is estimated at about £25 million this year, parachute payments of 16 million won't cover this. I am not defending them. They have sold the clubs assets to finance high wages, it was all a risk which isn't going to pay off. They need a new game plan, wage bill HAS to come down, and need to think long term!

[den]

Spent 8 mill on rhodes in last window.

?

How does that answer the question of where is the £5m/transfer window that we were told would be forthcoming. Not that I go along with the asset stripping theory at all.

[Mike E]

?

How does that answer the question of where is the £5m/transfer window that we were told would be forthcoming. Not that I go along with the asset stripping theory at all.

5m/window = 10m/season. This season we've already spent 11m on 2 strikers and that's with lessened funds thanks to relegation (admittedly venkys' doing).

I think transfer fees are the ONE stick we cannot beat Venkys with, tbh.

[den]

5m/window = 10m/season. This season we've already spent 11m on 2 strikers and that's with lessened funds thanks to relegation (admittedly venkys' doing).

I think transfer fees are the ONE stick we cannot beat Venkys with, tbh.

Firstly, we probably didn't pay all the fee up front and secondly, there's still no evidence that Venky's have put any of their own money in - which is what was promised. There's plenty to beat them with over transfers.

[Mike E]

Just because all money isn't up front, doesn't mean you can beat them on that. Or else you would beat every transfer-paying club in the world. It doesn't make them bad owners.

Every other facet of ownership, they've gotten wrong. But I think it's harsh to judge them on transfer fees.

[MrT]

Lets not forget that the Venky's needed the 21m surplus to cover running costs. The club has never need such a vast amount to turn itself over, the operating costs are huge.

Add to that all the contracts we've paid up and all the 5 year NDA's that have been signed.

Fact is they just didn't have a clue, and got ripped off left right and centre, ( Myles Anderson and Bruno Ribero's 2yr deals have cost the club circa 4m alone !)

There was absolutely no need for them To get rid of JW, TF and MG. these guys had to club running very smoothly, that was their biggest mistake in my opinion

My concern is, if the club doesn't gain promotion anyone of any value will be sold and replaced by kids on low wages (this is already happening).

Then they will pocket the next 16m parachute payment (that's if they haven't already sold the four year payment on!)

Who knows their plans?,I don't that's for sure but at least the team are stepping up to the table, we could make a promotion push, as long as people are left to do their jobs without interference

Here's hoping