[Archived] Barclays £10 million - What happens if we don't have the money?

[Wing Wizard Windy Miller]

Question for those of an accounting nature... Am I right in thinking that the £10 million that Barclays want, needs to be paid by the end of December?

I am assuming the club are skint, so what happens if it is not paid?

[Lurid Coat]

They'll probably sort out a deal that sees us selling Samba and Hoilett as soon as possible in January, with £10m going to Barclay's and the rest to pay the players' February wages.

[bestierover]

When faced with a debtor that cannot pay, it is normally best to seek to come to an arrangement over terms. Unless you have security over assets and the means to readily enforce that security without prejudicing the same.

[glen9mullan]

Had a tip off tonight that the club was bought with borrowed money secured against various Venkys business assets, I have someone working on it, to seek the truth behind this and if it has any implications on Rovers

[bestierover]

First thing to my mind is that their money may indeed be at risk and thus the conspiracy theories carry even less weight. Thankfully. Albeit, they may remain strapped for cash.

[67splitscreen]

Had a tip off tonight that the club was bought with borrowed money secured against various Venkys business assets, I have someone working on it, to seek the truth behind this and if it has any implications on Rovers

No expert, but can't see it being Venkys assets, their stock (Venkys India share holders would be running a mile) would have plummeted far beyond the current trends.

Assets of the privately owned companies maybe but again can't see anyone giving that info away.

Imagine if you are right though and the lender is someone like a large sports media company with links to player dealings.

[Elvis McSmithy]

Had a tip off tonight that the club was bought with borrowed money secured against various Venkys business assets, I have someone working on it, to seek the truth behind this and if it has any implications on Rovers

more conspiracy theories, just what we need!

[Boz]

Best bet for any long term possible solution?

Barclays call in their loans.

Place club in administration this season.

10 points deduction.

Barclays and friendly administrator find new owners (local consortium?).

Major surgery on removal of cancer endemic throughout our club.

Lobby Barclays.

[RTM08]

Well, we're in deep trouble, it just seems that there is no way out at the moment.

Liverpool got away with it when Hicks and Gillette were there, but does anyone care enough to help us out? I'm not sure, especially after the backlash from Tuesday.

[John]

Tick tock - wondering what is happening with this? The fact one of the Raos was in Dubai to try and secure more money is scary...

[miqaayil]

Tick tock - wondering what is happening with this? The fact one of the Raos was in Dubai to try and secure more money is scary...

I'm praying they're trying to sell.... as dubai is usual meeting place of shiekhs

[John]

Apart from the odd clarification statement and Paul Hunts q and a, there is constant silence, why?

[miqaayil]

Apart from the odd clarification statement and Paul Hunts q and a, there is constant silence, why?

Thats more reason they engineering sale or funding ... something like co-ownership .... this is what i will do

[Hughesy]

Whats to stop Venkys paying direct from India?

Why do they need an overdraft of just £6m?

[Wing Wizard Windy Miller]

Whats to stop Venkys paying direct from India?

Never understood that. Surely they must have some favourable Indian bank they can leverage money through?

[ABBEY]

Go on I'm gonna ask a stupid question .. If its been asked I blame the bud!!

If the bank are after 6 m then why are Bolton 100? M in the goo?

[LDRover]

That's owed to Eddie Davies the owner not the bank

[ABBEY]

Cheers ! Was thinking whilst on the throne lol

[Sparky Marky]

Had a tip off tonight that the club was bought with borrowed money secured against various Venkys business assets, I have someone working on it, to seek the truth behind this and if it has any implications on Rovers

If this was true Kean would have been gone ages ago. Unless all the businesses are wholly owned by the 3 stooges.....Shareholders wouldn't put up with this....i don't think they would.

[The Prof.]

Best bet for any long term possible solution?

Barclays call in their loans.

Place club in administration this season.

10 points deduction.

Barclays and friendly administrator find new owners (local consortium?).

Major surgery on removal of cancer endemic throughout our club.

Lobby Barclays.

This is unfortunately true.