[Archived] Financial problems?

[Miker]

On a side note, I worked in the billing department in my company for a year and had to deal with the accounts of some of the largest companies in Australia - over half the accounts I looked at were overdue and paid late.

[Stuart]

Which is why a lot of businesses are going to the wall, Miker. Lack of cash flow.

[Grez]

Every credit to rovers in artificially extending their AP days. They've done wonders in reducing their working capital. Same their ability to attract revenue is crap!

[Athlete]

On a side note, I worked in the billing department in my company for a year and had to deal with the accounts of some of the largest companies in Australia - over half the accounts I looked at were overdue and paid late.

my company as a long AP date but always pay before the date expires...

[alexanders]

Which is why a lot of businesses are going to the wall, Miker. Lack of cash flow.

And why I have my job working with factoring (financing and administration of receivables)

[Steve Moss]

Why did they give the money to the FA and not to Dundee United? Odd.

Because the FA intervened on behalf of Dundee?

So this 'rumour' that a payment date had been missed and was requested by the Scottish FA appears to have been correct them mum, yes?

Yes, it does appear that the Rovers were late, Dundee was motivated to seek the help of the FA, and the FA induced the Rovers to make the payment.

While I have a hard time getting worked up about a week long delay in payment, it is a sad sign that the Roas' idea of proper business is to wait until the creditors are [metaphorically] knocking at the door before sending out the check. It also lends credence to rumors that others, including players, are paid late (which I hope is untrue).

[Doug]

Love the way that the first story is worded. Absolutely farcical what the press get away with these days. No real up to date quote to support the headline and the storys quashed within hours. If you do a bit of digging the late payment is put down to a technical problem which is well understandable.

I personally hate the Rao's with a passion, but we are gonna need more foundations to wrestle the club from them due to financial problems.

...and since half of you are only interested in rumours, the wages for the players/staff where paid yesterday. Samba's fee has already gone on wages, we borrowed from another Indian bank last month for wages, so how we gonna pay the next one?... Vineeeth will have the charity buckets out at Ewood - you heard it here first

Is that a fact?

[thenodrog]

http://www.rovers.co.uk/page/NewsDetail/0,,10303~2622784,00.html

Rovers react over Goodie story.

Given those two statements the logical reason is that Barclays must have bounced the cheque..... hence Samba's exit in indecent haste.

[roverandout]

can we start a new thread? 'the venkys lovers thread'

[broadsword]

I'm not sure what's more worrying, we can't pay our bills on time or we insist that we did pay our bill on time.

I don't really care what Miker does with his accounts, this is not normal for Rovers, well it wasn't 18 months ago.

We'll end up with no-one wanting to do business with us.

[John]

Like when Ipswich were trying to get hold of someone at the club to discuss the Keith Andrews loan deal. The phone just kept ringing and ringing...

[thenodrog]

Like when Ipswich were trying to get hold of someone at the club to discuss the Keith Andrews loan deal. The phone just kept ringing and ringing...

When the cats away, the mice will play.

We simply don't have a cat.

[DavidMailsTightPerm]

I know, right?

I find it astonishing how people like Mum & DMTP think Venky's deserve the benefit of the doubt after what they've inflicted on the club in the last year.

Never said they deserved the benefit of the doubt - just that IMO there has always been an element that wanted Venky's to fail from the start - and that most of the rumours put out about them have proved incorrect.

My frustration is that some of the more wild rumours have detracted away from the very real problems at the club.

[philipl]

A Tannadice spokesman said: "I can confirm that we have now been paid the sum due by Blackburn, but the money was due to us a week past Wednesday and we have only received it today."

Very dangerous game for Rovers to play if we are not haging a liquidity crisis.

[bob fleming]

Never said they deserved the benefit of the doubt - just that IMO there has always been an element that wanted Venky's to fail from the start

Fact of the matter is that they did fail from the start.

[perthblue02]

There can't be any financial problems with Venky's London Limited after all they were happily investing in other things a few months ago, so Rovers may not have any players left in 12 months time but sure we will get preferential treatment to listen to the cream of India's pop talent. My link link 2

I was under the impression that Venky's London limited was specifically set up just to mange Rovers affairs, obviously not

Edit: links fixed

[den]

Never said they deserved the benefit of the doubt - just that IMO there has always been an element that wanted Venky's to fail from the start

You struggle to accept that there were a number of fans who said from the beginning that this lot were bad for rovers. They didn't WANT them to fail, but they could see that they would. Just as some people also said from the beginning that Kean was useless.

[Stuart]

This is all just like a slow motion car crash. Maybe it'll even stretch into next season.

[FourLaneBlue]

We are in big trouble. I think we all know that.

Some can whine about press coverage all they like, and some of it may well be tittle-tattle, but it is obvious we are going to have bad times ahead.

Just how low can Venky's go?

[Guest TheArtistFormallyKnownAsJB]

Is that a fact?

Did you read the sentence before? I was merely rumour spinning to prove a point.

[SIMON GARNERS 194]

We are in big trouble. I think we all know that.

Some can whine about press coverage all they like, and some of it may well be tittle-tattle, but it is obvious we are going to have bad times ahead.

Just how low can Venky's go?

The writing is on the wall,our worst fears are about to come to fruition....there'll be no hiding from the utter hell coming our way soon I fear.

Charlatans are running our once proud 137 year old ship onto the rocks,they are like mutinied sailors,drunk on their own arrogance swinging from the Good ship Ewood's Main Mast and pissing on everyone who they see as being below them ...they simply dont give a toss.

[rovers11]

We are in big trouble. I think we all know that.

Some can whine about press coverage all they like, and some of it may well be tittle-tattle, but it is obvious we are going to have bad times ahead.

Just how low can Venky's go?

The really frustrating part is that there are various groups out there who want to buy the club but venkys won't talk. I suspect they won't talk unless we get relegated.

[broadsword]

We are in big trouble. I think we all know that.

Some can whine about press coverage all they like, and some of it may well be tittle-tattle, but it is obvious we are going to have bad times ahead.

Just how low can Venky's go?

It's all down to if and when they get bored of us.

We'll get relegated from the prem at some point under their ownership, that much is obvious.

After that, it's all down to when they want to walk away. Presumably the further we fall, the more likely they are to walk. If we have them for another 5 years then I would assume we would be in League 2 by that stage.

One given is that they'll find a way to walk away from it quids up. But the you have to balance that against their stubborn pride and arrogance (which contrasts with their shocking lack of intelligence and good sense). The lower we fall, the less prospective owners will be prepared to pay, and the less chance there is of them getting their dough back.

The only way it makes sense is if you consider that they cannot agree on what is to be done, or they plan to break the club up when we go down (as has been pointed out, the resulting PR for them would be a catastrophe).

This is going to end really badly. Really really badly. Who we would be sold onto is anyone's guess. There's no covenant preventing the sale to the first available corporate scrap dealer.

None of it makes any real sense because there's no-one in charge who has got any real sense.

[DavidMailsTightPerm]

You struggle to accept that there were a number of fans who said from the beginning that this lot were bad for rovers. They didn't WANT them to fail, but they could see that they would. Just as some people also said from the beginning that Kean was useless.

And yet there were some well informed people that thought Kean might make it as a manager ! Was he not also approached to be assistant at Chelsea ?

How any one can see that Kean was going to be useless from the start is totally beyond me - as is the fact that our new owners were going to be equally inept.

At the start the owners promised to keep the current management in place - but just try to grow the business in India - and yet you claim people knew from the start they were doomed to fail.

All I will say - hindsight is a wonderful thing - and I don't think we can get beyond that (for whatever reason) IMO certain people wanted the Venky's to fail from the start. Why - I don't know.

[Amo]

And yet there were some well informed people that thought Kean might make it as a manager ! Was he not also approached to be assistant at Chelsea ?

How do those two sentences even connect? Also, I believe Kean was largely favoured at Chelsea because he could speak Portuguese, as Scolari was boss at the time.

How any one can see that Kean was going to be useless from the start is totally beyond me - as is the fact that our new owners were going to be equally inept.

Even as someone willing to give Kean a chance at first, I knew the odds were against him. Very few assistants make the leap to PL manager, let alone coaches.

Man, you're weak.