[Archived] What did the Walkers actually sell?

[Majiball]

My problem with this Gord, is that the trustees were appointed to carry out Jack Walkers wishes - which they stated at the time of his death was to support the club financially for the forseeable future. Jack Walker wanted the trustees to use some of the business profits from elsewhere, to help out the club. That's what he asked them to do. Yes, the trustees weren't interested in the club, but they weren't appointed because of their footballing interests, they were appointed - and agreed to carry out Jack Walkers wishes, - not their own. The trustees let the big man down big time with their approach to the club since they withdrew their funding completely a few years back.

The trustees "desperately wanting out", shouldn't have come into it. The wishes of Jack Walker and his money should have been the only factor.

IMO, the trustees were charged with funding the club until the right buyers came along. However, they appear to have put their personal dislike of BRFC and the money being spent there, to do a major disservice to Jack's wishes. If they didn't want to carry out Jack's wishes, they shouldn't have stood as trustees.

I think if we start from the position that the money wasn't the trustees money and wasn't the families money [if Jack had simply wanted the money he left to go straight to the family, he would have left it that way in his will], then we come to different conclusions.

.

I've long felt the Walkers resented Rovers and their selling of the club and matters since have really just confirmed it for me. His family have done the man a disservice and forgotten that they owe everything they have to him, who are they to overrule his wishes.

I can well imagine when they get upstairs that Jack will have one or two choice words for them.

[67splitscreen]

Very much doubt it in this case.

Do you think the owners of £500K homes are going to lie back and let the protection of their value be removed without a fight?

With regards the land that Brockhall sits on ..... did Gerald Hitman not purchase the leases/freehold in 1982 ....... died in June 2009 ....... believe that his assets are all in a trust ...... if so ...... guess the training facilities/academy are safe from Venkys clutches, or did he sell above to JW at some point?.

[Stuart]

Have any of Jack's offspring got rich off their own back?

Including not investing any of the money they were given or from any companies they inherited?

[Majiball]

Have any of Jack's offspring got rich off their own back?

Including not investing any of the money they were given or from any companies they inherited?

I even explained the situation to my football ignorant family, the reply was simple.

Son if you don't respect my dying wishes then I'll tan your hid when you get up top.

They were disgusted.

[thenodrog]

I even explained the situation to my football ignorant family, the reply was simple.

Son if you don't respect my dying wishes then I'll tan your hid when you get up top.

They were disgusted.

Read my post on page 1. Much as Jack loved BRFC he was not a fool. He would not have put BRFC before his business empire and his family. Things have moved on, the wealth that Jack invested elevated us to pole position now it would barely get us mid table. If you doubt that then ask Mike Ashley.

The best business advice that I ever had was "when the front door is open keep the back door shut". The financial drain that is BRFC is capable of blowing the back door off it's hinges.

[Exiled in Toronto]

The financial drain that is BRFC is capable of blowing the back door off it's hinges.

I wouldn't go quite that far but no-one likes to see money go down the drain, which I'm sure is how it was viewed.

It first struck me when Hughes wasn't backed. We had an excellent team that had just been a long-shot for 4th place and a manager who was getting fantastic returns on his purchases. When funding wasn't given to a proven moneymaker at a time when player values were rising highlighted to me that the owners were not interested in success on and off the pitch even when things were going well.

Even though they stopped the 3 million pa injection, the debt was building so they were still looking at increasing liabilities hence increasing the desperation to sell.

If the Trust had no interest in continuing to run a club that way then no-one else would either. Spending or increasing debt by 3/5/8 million a year to achieve not very much is senseless unless you are a very rich fan. That meant the only possible buyers would run it differently; either to make money indirectly by promoting a brand/business to the overseas markets or make money directly by cutting costs and hoping they could still suck at the ever bigger Sky teat.

The Trust must have known this. They cannot be surprised that the model they couldn't wait to rid themselves of would not be maintained by the next owners.

[OJRovers]

At a club like Rovers, were money is very tight, there is no room to make bad decisions.

Chelsea can afford to appoint the wrong manager, buy the wrong players, but the dreadful management of Venkys at Rovers has been exposed.

I believe the Trust made Venkys pledge to keep the management of the club in place (Williams, Finn etc). As soon as they left we were being run by people who don't have a clue about football.

[Stuart]

At a club like Rovers, were money is very tight, there is no room to make bad decisions.

Chelsea can afford to appoint the wrong manager, buy the wrong players, but the dreadful management of Venkys at Rovers has been exposed

I believe the Trust made Venkys pledge to keep the management of the club in place (Williams, Finn etc). As soon as they left we were being run by people who don't have a clue about football.

I think it's more that they can afford to get rid of the wrong ones!

[PAFELL]

I am not too sure if this is true or not. Though I hope it is.

In the past few days my wife and I had an interesting conversation. During this conversation we were told Venkys do not own Ewood Park or Brockhall. Instead it is still owned by the Walkers. This is due to the lease on both. Venkys cannot get hold of either unless they have owned the club for 20 years. We were told venkys own the name, Blackburn Rovers and the players.

I am wondering if anybody on here can confirm this. How can it be checked out?

[Stuart]

I am not too sure if this is true or not. Though I hope it is.

In the past few days my wife and I had an interesting conversation. During this conversation we were told Venkys do not own Ewood Park or Brockhall. Instead it is still owned by the Walkers. This is due to the lease on both. Venkys cannot get hold of either unless they have owned the club for 20 years. We were told venkys own the name, Blackburn Rovers and the players.

I am wondering if anybody on here can confirm this. How can it be checked out?

I overheard someone stating the same, very confidently, several months ago but I've no idea if it's true.

So much contradiction at the minute, who knows.

[ChrisyG]

I am not too sure if this is true or not. Though I hope it is.

In the past few days my wife and I had an interesting conversation. During this conversation we were told Venkys do not own Ewood Park or Brockhall. Instead it is still owned by the Walkers. This is due to the lease on both. Venkys cannot get hold of either unless they have owned the club for 20 years. We were told venkys own the name, Blackburn Rovers and the players.

I am wondering if anybody on here can confirm this. How can it be checked out?

There's got to be something in that. It would explain why the club was sold for only 25 million.

[Andy]

I am not too sure if this is true or not. Though I hope it is.

In the past few days my wife and I had an interesting conversation. During this conversation we were told Venkys do not own Ewood Park or Brockhall. Instead it is still owned by the Walkers. This is due to the lease on both. Venkys cannot get hold of either unless they have owned the club for 20 years. We were told venkys own the name, Blackburn Rovers and the players.

I am wondering if anybody on here can confirm this. How can it be checked out?

Definitely true for Brockhall.

Not sure either way on Ewood Park.

[Kamy100]

I believe that Venky's would need to keep the club for 20 years before they get Ewood Park and Brockhall.

[Sparky Marky]

That real estate down deepest Ribble Valley would be worth tens of millions, there's no way this was included in the purchase...It would be the best deal ever by Venkys...Id have to tip my hat to them if they own brockhall & ewoid.

[sentient]

Watch all the collaborators try to get on-side! Not in my house!

(Please don't use that word again) THE MEDIA! THEY DON'T CARE ABOUT US!

probably get a ban for this again ... cheers community managers (pafetic)

[thenodrog]

There's got to be something in that. It would explain why the club was sold for only 25 million.

I was informed of that 12 months ago but I have since been informed from what I would consider a very reliable source that everything was included in the sale. Probably where the repeated advice to the Venkeys before purchase comes from..... 'Whatever happens you cannot lose financially if you sign up to this deal'. Whether there are covenents attached I cannot say.

[philipl]

Go to Companies House, look for Blackburn Rovers, click on "buy documents", click on most recent annual accounts, pay £1, read the balance sheet, end of speculation.

Rovers own Brockhall and Ewood.

Venky's own Rovers.

[Blueboy Downunder]

'what did the walkers sell' ? they sold us all, down the river!

[Pedro]

I am not too sure if this is true or not. Though I hope it is.

In the past few days my wife and I had an interesting conversation. During this conversation we were told Venkys do not own Ewood Park or Brockhall. Instead it is still owned by the Walkers. This is due to the lease on both. Venkys cannot get hold of either unless they have owned the club for 20 years. We were told venkys own the name, Blackburn Rovers and the players.

I am wondering if anybody on here can confirm this. How can it be checked out?

That is pretty much what I have heard - hence I started this thread to seek confirmation. I was told that the Venkys only own the players contracts and not the bricks and mortar as presumed. It adds up much better in my mind but I have no idea whether the information I have (from a much better placed person than me) is true or not. Same source said that contrary to media reports, Steve Kean's contract is actually up in June...we will see.

That real estate down deepest Ribble Valley would be worth tens of millions, there's no way this was included in the purchase...It would be the best deal ever by Venkys...Id have to tip my hat to them if they own brockhall & ewoid.

There is nothing to say you can build on it though and I'd expect you'd have a real tussle on your hands...on the other hand there is a whacking great cement factory or something blotting the skyline near Waddington - so anything is posible.

[thenodrog]

There is nothing to say you can build on it though and I'd expect you'd have a real tussle on your hands...on the other hand there is a whacking great cement factory or something blotting the skyline near Waddington - so anything is posible.

The whacking great cement works have funded the local economy for years. The limestone is starting to get played out now and as a result is costlier to process which inevitably will lead to the plants closure within the next decade or two.

I'm sure that the population and local council of Clitheroe would love 10 such plants.