[Archived] Financial problems?

[den]

You don't really believe that do you Den?

If it were true, then more teams than QPR would have shown an interest.

Yes, I do LeChuck.

[Exiled in Toronto]

What a surprise Vineeth's statement has been met with total cynicism!

This is not how to manage communications.

Especially when there are very strong rumours that a super agent- not JA- is already holding a mandate to do what Vineeth is denying given by Auntie Mrs D

Young Vineeth is probably out of the loop

[Daniel Louis Grabko (Dan)]

We had a debt of 26m at the close of last season following an 18m loss.

The 26m debt consisted of the inherited 14m debt, a newly acquired 7m debt as well as the 5m loan given to us by Venky's London.

The reason the debt only grew by 7m is because the owners injected 10m of capital to cover part of the loss.

By the end of the Summer transfer window we made a profit of at least 10m on player trading.

After decreasing our wage bill in Jan, but losing money from other revenue streams, I'd estimate our operating loss to be around 5m again.

Selling Samba for circa 10m and depositing 2m to the bank means that Venky's acquired at least 22m to cover the remaining 21m debt plus the estimated 5m operating loss for this season.

Owners have thus far, including purchasing the club, spent 37m on the club plus provided 5m loan. All the money that they have earned from player sales have gone towards clearing our bank debt to what must be close to 0 now.

Should we survive relegation this season, we will have virtually zero debt and a significantly reduced wage bill, plus youngsters with enough experience to become key players for us just as N'zonzi has.

Correct me if my numbers are wrong, but I am pretty sure they are correct.

I think you might be forgetting the debt VLL has accumulated. (The vast majority of which came in as "Cash" to the Club) I think there is a lot of confusion in the press and the supporters base about which debt is being reported on as well as which debt is being paid back and which debt Barclay's is requiring paying down. The question you also have to ask yourself is where that £10m of capital that the owners injected came from - it could very well have been from VLL expanding their debt. Since VLL has extended their year end until March this year and as such won't have to file accounts until the end of September, that won't be revealed until October probably.

[thenodrog]

Where has the £7m Samba figure come from?

Samba himself has said its £12m (fair enough not necessarily all upfront) and we already know about the 20% sell on Hertha had attached.

2 payments. Cheque for £7m to BRFC in the UK to match the QPR bid and solely for the rather dubious benefit of Barclays, Herta and the Revenue. The other 5m in the euphemistic 'brown paper bag' to be despatched to some offshore account or other. I doubt the authorities in India or that part of Russia if involved at all will be above board ... or would that constitute a conspiracy theory?

Samba's been told he cost the Russian 12m whilst our lot declare and can prove that BRFC have received a cheque for 7m.

[thenodrog]

We had a debt of 26m at the close of last season following an 18m loss.

The 26m debt consisted of the inherited 14m debt, a newly acquired 7m debt as well as the 5m loan given to us by Venky's London.

The reason the debt only grew by 7m is because the owners injected 10m of capital to cover part of the loss.

By the end of the Summer transfer window we made a profit of at least 10m on player trading.

After decreasing our wage bill in Jan, but losing money from other revenue streams, I'd estimate our operating loss to be around 5m again.

Selling Samba for circa 10m and depositing 2m to the bank means that Venky's acquired at least 22m to cover the remaining 21m debt plus the estimated 5m operating loss for this season.

Owners have thus far, including purchasing the club, spent 37m on the club plus provided 5m loan. All the money that they have earned from player sales have gone towards clearing our bank debt to what must be close to 0 now.

Should we survive relegation this season, we will have virtually zero debt and a significantly reduced wage bill, plus youngsters with enough experience to become key players for us just as N'zonzi has.

Correct me if my numbers are wrong, but I am pretty sure they are correct.

Sounds OK until you factor in parachute payments of 12m pa for 4 years and deduct that from the 40 odd million we receive every single year just for being in the Prem?

[Daniel Louis Grabko (Dan)]

Sounds OK until you factor in parachute payments of 12m pa for 4 years and deduct that from the 40 odd million we receive every single year just for being in the Prem?

Parachute payment schedule for clubs going down 2011/12 - 16+16+8+8= £48m

[DavidMailsTightPerm]

Orr at the same level as Salgado?

Hanley can replace Nelsen?

We all thought 7 million quid for Scott Dann was a great coup?

You keep positive DMTP!

Matty - do you ever actually read my posts - or just pick out the bits that suit.

Salgado's legs had gone - most people agreed, have a look back at posts slating his performances.

Nelsen - many thought he was increasingly being caught out for pace. Hanley - in many people's eyes had improved drastically with a run in the team.

It is open to debate how much we actually paid for Dann - but if you read the posts around the time he was signed - many thought he was a better signing than the Yak !

I'll keep positive - I would rather my glass be half full - than empty (as yours would appear to be). At a guess (and I may be doing you a disservice) - you possibly have never know anything prior to Jack's involvement ?

[philipl]

At a guess:

Cash to Rovers £7m

Contingencies if Samba does well £2m

Hertha £2m

Agent's arrangement fee £1m

Total £12m

Samba's cut forgone for asking for a transfer saved Venky's around £2m.

[Mattyblue]

Matty - do you ever actually read my posts - or just pick out the bits that suit.

Salgado's legs had gone - most people agreed, have a look back at posts slating his performances.

Nelsen - many thought he was increasingly being caught out for pace. Hanley - in many people's eyes had improved drastically with a run in the team.

It is open to debate how much we actually paid for Dann - but if you read the posts around the time he was signed - many thought he was a better signing than the Yak !

I'll keep positive - I would rather my glass be half full - than empty (as yours would appear to be). At a guess (and I may be doing you a disservice) - you possibly have never know anything prior to Jack's involvement ?

Nelsen is now pying his trade for one of the country's top sides.

Dann... well not a lot to be said about his perfomances, is there?

Salgado was/is a more than a competent right back, especially in a team managed by a competent manager. But, I suppose as Kean is the only manager we have and he is a) doing the bidding of the owners who don't want him to play and b] his half cocked tactics will leave him exposed anyway, I suppose Bradley Orr might as well play.

I first ventured on to Ewood Park in a year we narrowly avoided relegation to the third division. It looks like we are hurtling back to that position, so excuse me if I'm slightly miffed.

[Steve Moss]

Parachute payment schedule for clubs going down 2011/12 - 16+16+8+8= £48m

Spread over 4 years, compared to 40 million plus in one year. Which causes me concern on whether their current frugality is sensible, considering the bigger picture.

At a guess:

Cash to Rovers £7m

Contingencies if Samba does well £2m

Hertha £2m

Agent's arrangement fee £1m

Total £12m

Samba's cut forgone for asking for a transfer saved Venky's around £2m.

So both Venkys and Samba may be telling the truth, depending on their perspective.

[Daniel Louis Grabko (Dan)]

Spread over 4 years, compared to 40 million plus in one year. Which causes me concern on whether their current frugality is sensible, considering the bigger picture.

So both Venkys and Samba may be telling the truth, depending on their perspective.

Indeed, I wasn't trying to argue the point. Losing £26m in revenue per year would definitely put a dent in any profit!

Yes, the way transfer fees are presented is a total crap shoot, there is no consistency at all and nobody knows who is talking about what. Really hard to make any real sense of it - it is all guess work.

[Ralfinho]

Venkys should have a read of this

My link

[John]

Wonder if some of our recently departed players have been gagged as well?

I know that some of the recent personnel, off the pitch, were paid some fairly chunky fees to keep quiet.

[philipl]

Wonder if some of our recently departed players have been gagged as well?

I know that some of the recent personnel, off the pitch, were paid some fairly chunky fees to keep quiet.

Good point- I believe so and Samba talking out probably reflects the fact he got no pay-off through having asked for a transfer. Maybe Keith Andrews' candour is for a similar reason?

Nelsen and Roberts have been very quiet.

[Steve Moss]

Venkys should have a read of this

My link

I especially liked this quote:

"A lot of club owners are saying that “the only role of the supporter is to support”, but that’s not true. A supporter’s role is to love, and he wants to get something back from his team in return.

There is a limit to how much love you are willing to give without feeling loved back. This feeling may lead to anger and hatred. Those who say that “supporters are here just to support” do not understand the football industry."

Venkys and Kean could have avoided a lot of problems if they had read this article before engaging in their rounds of burro-like behavior.

[LeChuck]

Perhaps there just isn't much a player could say that would be interesting.

I don't remember players leaving Portsmouth and saying anything about the club.

What could Nelsen/Roberts etc say that isn't known already?

[Daniel Louis Grabko (Dan)]

Venkys should have a read of this

My link

That's a smashing article. Fantastic.

[winstonsmith]

That's a smashing article. Fantastic.

+1

"Without the supporters who come to see the game, who pay for the ticket, watch the game on TV, pay for the channel, who buy the merchandise etc - without them there is no professional sports"

I agree wholeheartedly with the author. Fans are the most important people in professional football and it is about time they were treated with the respect they deserve. Quite simply: No fans = No football

[Exiled in Toronto]

Nelsen is now pying his trade for one of the country's top sides.

Only in the games that don't matter.

When they had an important game at the weekend, he was doing exactly what he had been doing for us - nothing.

[Mattyblue]

Sure he could have done a job in a Samba-less defence.

[den]

Only in the games that don't matter.

When they had an important game at the weekend, he was doing exactly what he had been doing for us - nothing.

The point is he's fit - and if he is fit, which is obviously contrary to the lies Kean told us, he's certainly good enough for us.

[thenodrog]

Parachute payment schedule for clubs going down 2011/12 - 16+16+8+8= £48m

Thanks Daniel.

[DavidMailsTightPerm]

know that some of the recent personnel, off the pitch, were paid some fairly chunky fees to keep quiet.

If you found out - then Venkys should ask for their money back as people mustn't have kept quiet !

[John]

If you found out - then Venkys should ask for their money back as people mustn't have kept quiet !

They have kept quiet though.........nice pay out too!

[OJRovers]

The second £250,000 is due to Dundee today... anyone know if this has gone through?