[Archived] Could Venky's Be Forced To Sell?

[ChrisyG]

Sorry but that is completely wrong.

Even the VH website doesn't make such exaggerated claims about the worth of the Group.

Venky's India turns over £170m making £10m (last year- profit almost certainly down this year). Of that, VH only OWNS 53% so their share of profits is £5m.

VH group claims to have a turnover of about £600m although I have a private Indian analysts report assessing it as quite a bit smaller- around £470m.

The 28 Group companies includes several dormant companies including at least one which went through the Indian equivalent of administration.

Venky's spout drivel on the odd occasion they say anything. Why Rovers fans spout drivel on their behalf is beyond me.

If these figures are anywhere near accurate, it makes me wonder how they got the money together to purchase Rovers. It's not like they're making huge profits. Certainly not enough to run a premiership football club.

[philipl]

If these figures are anywhere near accurate, it makes me wonder how they got the money together to purchase Rovers. It's not like they're making huge profits. Certainly not enough to run a premiership football club.

yes- good question isn't it...?

[glen9mullan]

As Philip has correctly stated their turnover cannot be mistaken by the hard profit.

Venkys sell wigits on a little and often basis, at low mark up value, this produces massive turnover but their record profits could not have bought half of rovers

[MullenVoid]

Does my head in when people bang on about how big their turnover is/is growing. counts for very little towards the true worth of a company. the bottom line is where i look first. of course anyone with half a brain knows this already, so sorry to repeat th'obvious.

[Stuart]

On a completely unrelated matter - apologies for hijacking this thread - I wonder who it was that found out about the goings-on at Rangers, specifically the Ticketus money...?

[Majiball]

On a completely unrelated matter - apologies for hijacking this thread - I wonder who it was that found out about the goings-on at Rangers, specifically the Ticketus money...?

I heard it was Steve Kean.

[G Somerset Rover]

yes- good question isn't it...?

Certainly adds even more weight (as if any more was needed) to the third party ownership, Scottish mafia, agency owned theories.

[47er]

Certainly adds even more weight (as if any more was needed) to the third party ownership, Scottish mafia, agency owned theories.

yep! Venkys under no financial pressure to sell cos never had the money to buy and run a Premier League anyway.

Bizarre experiment to continue I'd suggest!

[chaddyrovers]

According to Nicko twitter,

the club is for sale or at least being offer to other people

Yes. Goldman Sachs offered club to ANOTHER posssible buyer at 30m. They thought that was too dear. Same fee, same reply.

Same price quoted to Arab middle men a month ago. No buyers at that price. But main point for me is they WILL sell.

What's the point in them having a club they don't watch and get pilloried for? Beats me.

[perthblue02]

According to Nicko twitter,

What's the point in them having a club they don't watch and get pilloried for? Beats me.

IMO there is a lot of shredding yet to be done before Venky's are instructed to accept a bid as the "owners", hence the silly asking price. Think there would be panic and not in India if someone rolls up and slaps 30 million on the table tomorrow

[ABBEY]

Is the 30 m on top of the 50 million spending money?

[rhodie]

Sorry but that is completely wrong.

Even the VH website doesn't make such exaggerated claims about the worth of the Group.

Venky's India turns over £170m making £10m (last year- profit almost certainly down this year). Of that, VH only OWNS 53% so their share of profits is £5m.

VH group claims to have a turnover of about £600m although I have a private Indian analysts report assessing it as quite a bit smaller- around £470m.

The 28 Group companies includes several dormant companies including at least one which went through the Indian equivalent of administration.

Venky's spout drivel on the odd occasion they say anything. Why Rovers fans spout drivel on their behalf is beyond me.

quote]

[u]Don`t know where you have got your figures from Philip,Venkys (India) total turnover for last year (audited) ending 31/3/2011

Turnover=85,201 Lakhs which is £98,244,341.09

Profit after tax=7,303 Lakhs which is £8,421,094

As you know Venkys India is only a portion of the organisation,so the money is there its only a case of getting them to spend it.

[patrickvalery]

Does that mean a lakh is worth 1 million ruppes? I thought it was 100000? Mathematics - not my strong point.

However, it doesn't matter a jot. They could be making Apple sized profits and it wouldn't matter. Because they don't want to spend a penny / rupee of it on us.

[Clitherover]

According to Nicko twitter,

the club is for sale or at least being offer to other people

Yes. Goldman Sachs offered club to ANOTHER posssible buyer at 30m. They thought that was too dear. Same fee, same reply.

Same price quoted to Arab middle men a month ago. No buyers at that price. But main point for me is they WILL sell.

What's the point in them having a club they don't watch and get pilloried for? Beats me.

Lol, Nicko is blocking my twitter account, haven't tweeted anything to him at all.

Has he blocked other Rovers fans or is it just me?

[K-Hod]

Lol, Nicko is blocking my twitter account, haven't tweeted anything to him at all.

Has he blocked other Rovers fans or is it just me?

If you question anything Kean or Coyle related (mainly the latter) he will get you blocked.

His ego must be massive if he can't admit he was wrong when it's so obvious.

[WaKKo-]

Indian semantic International semantic

1 Lakh 1 Hundred Thousand

10 Lakhs 1 Million

1 Crore 10 Million

10 Crore 100 Million

1 Sael(Arab) 1 Billion

10 Sael(Kharab) 10 Billion

100 Sael(Marab) 100 Billion

1 Lakh = £1,153.10

10 Lakh = £11,531

[philipl]

Does that mean a lakh is worth 1 million ruppes? I thought it was 100000? Mathematics - not my strong point.

However, it doesn't matter a jot. They could be making Apple sized profits and it wouldn't matter. Because they don't want to spend a penny / rupee of it on us.

Lakh - Wikipedia, the free encyclopedia

en.wikipedia.org/wiki/Lakh

A lakh is a unit in the South Asian numbering system equal to one hundred thousand (100000), written as 1,00000.

So 85,201 x £1,153 = £98,236,753

Thanks for the confirmation rhodie that these guys are minnows.

As for the Nixon story, Goldman Sachs have denied all involvement in selling the club- and that is from a serious potential bidder who approached them after Venky's themselves would not talk.

[Clitherover]

I mentioned something relating him to a stopped clock on here the other week, he happen still reads this messageboard and linked to my twitter account then.

Probably a blessing in disguise not having to read his tweets anyway, the man's clearly an arse.

[G Somerset Rover]

Let's be fair now here Clitherover, Kean and Coyley have turned out to be gems....

[John]

Anyone asked him if he still rates the SEM lads as good managers?

[K-Hod]

Anyone asked him if he still rates the SEM lads as good managers?

I asked him a while back if he still thinks Kean is 'impressive'. He said I needed to do better research...

[DE.]

Not surprised Nixon doesn't post on here anymore, somebody could quite easily do a Tris-special and absolutely destroy his credibility by dragging up various farcical past posts.

[John]

Ah, remember the "Kean does a good presser" days.

[PAFELL]

Certainly adds even more weight (as if any more was needed) to the third party ownership, Scottish mafia, agency owned theories.

There must be someway of establishing if venkys are the genuine owners. If they are not, why are they prepared to put up with all the bad publicity - on behalf of somebody else.

[Amo]

Funny to think there was a time when you could be banned for disagreeing with Nicko.