[Archived] Rumours that staff have not been paid

[bob fleming]

Most clubs are already advertising for staff for the EPPP, I haven't seen any Rovers advertisements.

Don't worry about that Majiball. It's all under control. Nothing to worry about. I'm confident that the adverts will have gone out in and around Pune where the club is based. No point advertising around here, it'll be far too expensive. And well done to the Venky's for their pragmatic and sensible approach yet again, one can only sit back and applaud them for how they're driving BRFC forward on all fronts.

[SIMON GARNERS 194]

The accounts show that Venkys London Ltd injected capital into Rovers, Not the Raos. Now where Venkys London got the cash from is the question. We'll find out shortly when accounts are lodged at companies house. But 1 possible explanation could be that it is through loans using Rovers assets and season ticket income. Which should be fun with low season ticket sales etc and really would screw us over.

Oh deary me!

[philipl]

Read the terms of the mortgages I and others have posted on this MB. That is precisely what the situation is.

[glen9mullan]

The Cat 1 training centre was supposed to be rubber stamped in November, as Hunt was supposed to go out to Pune to rubber stamp it, I did mention this on Vital Blackburns podcast way back then (Trip was cancelled). I remember questioning the club at the time why something like this was not being put out as some good PR.

Interesting that it has now been brought up again via FF, which would suggest they may have now authorised it. What worries me more is the £20 Million they have spent in Pune (FACT),

Reasons im worried

1. Sold pretty much everything bar the kitchen sink here in Blackburn

2. Mortgaged our ground, (Academy) Training ground not included , as we dont own the land, just the lease, Morgaged ALL future income, This is against Debt.

3. Cut backs on wages, appearance cash,

4. With the money spent in Pune there is a big doubt if they have been reducing debt (Accounts, sale or administation) whichever comes first will answer this question,

Its just like we are being used as a guniea pig for them to build football in India, NOT Rovers

Incidentally these debentures are held by the Premier league who distrubute all monies, i.e SKY, Parachute payments, Should the debt NOT be paid to Barclays then the silver will not touch the Palms of the Rao's and will direct from the Premier league to the bank.

[glen9mullan]

double psot

[PAFELL]

The Cat 1 training centre was supposed to be rubber stamped in November, as Hunt was supposed to go out to Pune to rubber stamp it, I did mention this on Vital Blackburns podcast way back then (Trip was cancelled). I remember questioning the club at the time why something like this was not being put out as some good PR.

Interesting that it has now been brought up again via FF, which would suggest they may have now authorised it. What worries me more is the £20 Million they have spent in Pune (FACT),

Reasons im worried

1. Sold pretty much everything bar the kitchen sink here in Blackburn

2. Mortgaged our ground, (Academy) Training ground not included , as we dont own the land, just the lease, Morgaged ALL future income, This is against Debt.

3. Cut backs on wages, appearance cash,

4. With the money spent in Pune there is a big doubt if they have been reducing debt (Accounts, sale or administation) whichever comes first will answer this question,

Its just like we are being used as a guniea pig for them to build football in India, NOT Rovers

Incidentally these debentures are held by the Premier league who distrubute all monies, i.e SKY, Parachute payments, Should the debt NOT be paid to Barclays then the silver will not touch the Palms of the Rao's and will direct from the Premier league to the bank.

It is like they are trying to move Blackburn Rovers to India. But if they are going ahead with this Cat 1 traing centre, it must mean they do not plan on selling the club soon.

[OJRovers]

What do you mean by the £20m spent in Pune, Glen?

[Kamy100]

What do you mean by the £20m spent in Pune, Glen?

They have built an academy (Centre of Excellence) in Pune, I presume that is what Glen is referring to.

[Parsonblue]

It is like they are trying to move Blackburn Rovers to India. But if they are going ahead with this Cat 1 traing centre, it must mean they do not plan on selling the club soon.

I would be very surprised if they are going for Cat 1. We would be talking serious money and from my understanding the club would need to invest quite a bit to get Cat 2.

[philipl]

They have built an academy (Centre of Excellence) in Pune, I presume that is what Glen is referring to.

£20m worth?

That would buy an awful lot of chicken netting.

[Boz]

The accounts show that Venkys London Ltd injected capital into Rovers, Not the Raos. Now where Venkys London got the cash from is the question. We'll find out shortly when accounts are lodged at companies house. But 1 possible explanation could be that it is through loans using Rovers assets and season ticket income. Which should be fun with low season ticket sales etc and really would screw us over.

Have you noticed the £39 million share issue last month by Venky's London Limited?

Still no accounts filed yet though.

[OJRovers]

Was that a new £39m?

[Boz]

Was that a new £39m?

Yes, but not necessarily for a cash injection into BRFC, it could be for any of their UK business interests, e.g. Venky's Xprs London Limited?

[philipl]

It is not a new issue of shares.

Companies are now required to file Statements of Capital showing the value of share issued and the current Directors.

This is the Companies House listing:

15/03/12 STATEMENT OF CAPITAL GBP 39195000.00

LATEST SOC 10/04/2012 10/04/12 STATEMENT OF CAPITAL;GBP 39195000

The capital issued by Venky's London Limited has increased from £35m from formation to this figure today.

You can reliably take it that prior to the State Bank of India's involvement, this is the figure Venky's have expended on Rovers including £10m capital injection required by the terms of sale, acquisition costs. and £5m loan taken over from the Walker Trust

[Boz]

Apologises for not reading the share issue properly.

It WAS a share issue but only 125,000 shares to the £1 OSC.

Taking the capital from 39,070,000 to 39,195,000.

Strange being such a relatively small amount as a percentage.

[FourLaneBlue]

Apologies if it seems that way Bryan. I just have concerns that Phil does seem to jump on every negative story and post it as fact.

It was the same with the 'Kean at Champions League Semi Final' issue. It was flatly denied by kean yet Phil posts it as fact.

It's not the first time he's been wrong on a matter. I'll avoid commenting in the future.

Perhaps you could wait then and comment on the next "positive" story, and I will do the same.

Shall we meet back here in 2015?

As We are sure as hell ###### under Venky's...

Is there ANY proof Venky's have actual cash? Liquid currency?

Nobody could come up with even a hint of proof last time. With what has happened since, it seems pretty obvious that they don't.

[John]

People say these "false stories" don't help.

We are not going to be relegated because of false stories.

[philipl]

Here is my story about everything positive that has happened since Venky's bought Rovers

[krypton1980]

Still staff in club shop who have not been paid .

Been informed by the father of one member of staff and her boyfriend are owed wages from 2 weeks ago.

One was paid only half his wage and told he wouldn't be paid till the end of this month the outstanding amount. He demanded he was paid and is still awaiting a cheque.

Bare in mind the amounts owed were only £160 and £30 but still if the club is messing up at this level it still shows a massive disrespect for the general staff at ewood.