[Archived] Rumours that staff have not been paid

[DavidMailsTightPerm]

Unfortunately my understanding of finance is not good enough to say if this could be beneficial, I was however told last month that Karen Sillk had allegedly presented two budgets to the owners (one if we survived and one for relegation) so maybe the numbers work for the owners.

The big problem is that thus far Venky's decision making has been nothing short of disasterous, so with that in mind, it's hard to see any benefit from them remaining as owners.

I agree about the "benefit" of them remaining owners - just wondered whether dealing with a bank they had history with (and presumably a better credit line) would help Rovers. Though I suppose any potential benefit has to be weighed against their ability to make use of it !

[rog of the rovers]

Could the change in bank lead to more investment from other Indian companies? As in buying shares or a stake in the club?

[broadsword]

they don't ant to put any money in, so what does that matter.

It's like asking whether there;s any benefit to having a rubber ring as a 20 foot tidal wave comes smacking in.

[47er]

I agree about the "benefit" of them remaining owners - just wondered whether dealing with a bank they had history with (and presumably a better credit line) would help Rovers. Though I suppose any potential benefit has to be weighed against their ability to make use of it !

Remember what I said about the 8%.

[tomphil]

I wonder if Venky's used the Indian State bank to finance the purchase of the club ? Perhaps that has a bearing on this alleged move.

[Athlete]

It is very interesting that they have moved finance to via Indian State Bank (if true). Not surprising as the relationship with Barclays has almost certainly broken down. I would say that they will have used the money from the Samba sale and the money from the Phil Jones transfer that is due in June to settle the debt with Barclays.

They probably have secured a lending agreement with the State Bank of India, the interesting thing is that this agreement from my limited understanding of finance would've been secured against Venky's assets in India, also have to remember that Venkentesh was in Dubai at the end of last year so maybe they have secured some additional finance which is also going to be routed via India.

All of this unfortunately point towards what I tweeted earlier this week that Venky's have no intention of selling the club in the foreseeable future, I would also speculate that with relegation we will see a "skeleton" staff at Ewood with major functions such as finance being dealt with in India.

so looks like were gonna be stuck with Coco for another relegation battle then but this time to stay in the championship , with our better players gone + Coco taking the positives as we hurtle towards league one

[47er]

so looks like were gonna be stuck with Coco for another relegation battle then but this time to stay in the championship , with our better players gone + Coco taking the positives as we hurtle towards league one

"If we could play like we did in the first 80 minutes against Barnsley................................."

[bob fleming]

"If we could play like we did in the first 80 minutes against Barnsley................................."

"The 8-1 home defeat to Brighton was disappointing. I felt at 3-1 we were in control and then they scored completely against the run of play. We felt Myles was fouled in the build up. But I retain the full support of the owners who can see what we're trying to do and we'll work hard on the training ground next week. We're better than this normally and although we only had 9 men who started the game on the pitch I insist that the others weren't in the right frame of mind. We've one or two 21 year old experienced lads coming back and I fancy a draw away at MK Dons on Tuesday. There's no way we'll be relegated. Not a chance."

[DavidMailsTightPerm]

"The 8-1 home defeat to Brighton was disappointing. I felt at 3-1 we were in control and then they scored completely against the run of play. We felt Myles was fouled in the build up. But I retain the full support of the owners who can see what we're trying to do and we'll work hard on the training ground next week. We're better than this normally and although we only had 9 men who started the game on the pitch I insist that the others weren't in the right frame of mind. We've one or two 21 year old experienced lads coming back and I fancy a draw away at MK Dons on Tuesday. There's no way we'll be relegated. Not a chance."

You forgot to mention how the protests from the 1% of fans that still attend affected the younger players.

[bob fleming]

You forgot to mention how the protests from the 1% of fans that still attend affected the younger players.

You're right Maily, I did. If 47 and I had got all his bull into a couple of posts the Internet would have probably crashed.

Just read Mercers post in the Norwich thread, that coupled with one of philips post yesterday, maybe not being able to field a team because "theyre not in the right frame of mind" is on the cards?

[DE.]

At this rate Kean'll have the youth team out there, then he can boast about having the youngest team to ever play in the league.

[EwoodDawn]

At this rate Kean'll have the youth team out there, then he can boast about having the youngest team to ever play in the league.

What was Graeme Souness saying last night, in his role as experienced, respected, knowledgeable pundit (and manager)? Oh yes, how much of a bad idea it is to play very young people in defence in very important matches.

[philipl]

Ok so the weekly staff were paid after all

after a delay

from a bank in a town of 160,000 in Rajastan whose chief claim to fame is that it registered the highest temperature ever recorded in India

50.6 degrees C

Half way to hell I suppose.

[Pedro]

Ok so the weekly staff were paid after all

after a delay

from a bank in a town of 160,000 in Rajastan whose chief claim to fame is that it registered the highest temperature ever recorded in India

50.6 degrees C

Half way to hell I suppose.

So after 10 pages of drama and hearsay the staff were paid shortly after dinner time...on the day it was due. Shock, horror.

[philipl]

So after 10 pages of drama and hearsay the staff were paid shortly after dinner time...on the day it was due. Shock, horror.

From a bank in the middle of India?

Are you for real?

[47er]

At this rate Kean'll have the youth team out there, then he can boast about having the youngest team to ever play in the league.

and whose value increases by the day!

[Mercer]

Players due for payment this week.

Can't see any problems. Hmmm.

[Kamy100]

The big question is that do the player contracts have a relegation wage drop clause in them (it is usually 40% drop)? I suspect that the contracts that were re-negotiated in January 2011 don't, but it looks like all of those players (apart from Salgado) have all been moved on.

If there are relegation clauses in the contracts, in addition to the wage bill having being cut drastically over the last 4 months I would say that costs in terms of wages will be under control, assuming that all the money from the parachute payments is put into the club.

[Ricky]

Yeah but it's not quite the drama you fanned the flames of Phil. You love a good story and unfortunately there's not such a good one here today.

They were all paid just a few hours late.

[Kamy100]

Yeah but it's not quite the drama you fanned the flames of Phil. You love a good story and unfortunately there's not such a good one here today.

They were all paid just a few hours late.

To be fair, I know of at least 10 stewards who were due to be paid on Friday and didn't receive their payment until Monday lunchtime, they received no explanation from the club as to why they had been paid late. I am very relieved that this was all down to them swopping banks and not due to lack of funds.

[broadsword]

Yeah but it's not quite the drama you fanned the flames of Phil. You love a good story and unfortunately there's not such a good one here today.

They were all paid just a few hours late.

You do seem to be after Phil.

[Ricky]

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.

[thenodrog]

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.

Ricky 2 questions..

1. Unless you are being paid in advance would you be happy if you were paid late and from a bank that you have never heard of from a place that you have never heard of? Especially when you know full well that Barclays PLC don't appear to trust your employers as far as they can throw them. Would you not be questioning the reason for the change?

2. Do you think the Venkeys are a. Trustworthy or b. Dodgepots?

[koi]

You do seem to be after Phil.

That's coz he's full of ######

[Ricky]

It happened to me 6 months ago Drog. Pay went in the day after it was supposed to due to the Council introducing a new computer system for payments. Guess the difference was that we were informed of the reason, not on the day however. We were told the next day when we queried where our money was!

In response to 2, absolute dodgepots