[Archived] Are the Rao's really this stupid?

[1arC]

We are a cash cow end of, some people just won't accept it but like has been said there are many many ways and means to bleed big businesses, corporations and football clubs via a very complex set of accounting procedures, bank accs, holding companies etc etc.

Goes on al the time out in the big wide world. This club has had an income of north of 300 million in their time here and I wouldn't be surprised if ten percent of it or more has trickled into an off shore account somewhere for a nice divi up.

I don't believe for one minute these lot have been forking out of their own pockets it's all dressed up.

An article from Forbes India, Nov 8, 2010 under heading Venkys Sporting Ego stated that the ICICI Bank was funding the takeover. I would think that's how it's continued.

With the transactions over the last year or so, that 300 million, is closer to 400 million. No doubt about it that a percentage is being taken out and lined up for use by someone other than the football club.

[Dunnfc]

With the transactions over the last year or so, that 300 million, is closer to 400 million. No doubt about it that a percentage is being taken out and lined up for use by someone other than the football club.

You mean the onerous contract costings of 9 million in the last accounts?

[ABBEY]

As a construction accountant and many family members in the general scene of accountancy and commercial management, we & i still can't get our heads around his sign off on the last accounts and subsequent going forwards appraisal, no wonder KPMG resigned as auditors. They did the same under Craig Whyte at Rangers in case you need a back-up of a same scenario.

Utterly dumbfounded, I would gladly help the Ian's if required at Seneca if of any use, cards on the table. I would urge both Ian's to contact me to agree a strategy going forwards along with PhillipL and those who maybe able to assist elsewhere. I will leave it at that.

The club can be rescued over five years without external parachute payments but fans would need to understand this requires several forms of external finance and obvious desired backing from cash injections and a new commercial directive to ease cash flow constraints which seem to strangle the club presently. Given the recent history cash bank funded lending from the UK would not be achievable.

Guarentee a Rovers backed Seneca bid would substantially increase income and would replicate the Rangers scenario now with Douglas park and the rest of the bears.

Mmmm Phil l the bloke who can't accept that 52% is more than 50%

[tomphil]

Why do they keep creating situations for paying people off all the time when it goes against the grain of cost cutting? Never mind the actual turnover of players and all the rest. Everything in football costs something, perfect way to leach.

[1arC]

You mean the onerous contract costings of 9 million in the last accounts?

Yes I do, what is that?

[Dunnfc]

Mmmm Phil l the bloke who can't accept that 52% is more than 50%

Try to break it down as below: Accounts link: maybe able to see FOV; - https://beta.companieshouse.gov.uk/company/07406020/filing-history

Tangible Assets are shown in balance sheets normally associated with Permanent things, i.e Training Ground, Stadium, Academy, fixtures & fittings of such, to gain a value in what would be undertaken from a property surveyor usually. The cost of general maintenance i.e painting and repairs is usually offset against a trading loss as it can be paid for via cash from Venkys pocket before FFP regs kick in as it is shown as a depreciation cost typically depreciate costs amount 2.50% PER annum, which is why i question Category One status praise!

Intertangible Assets - The good will of a company should it fold, i.e staff TUPE & IT agreements and levied costs. Commercial brand and trademark values of which given the Chinese investment of late you'd expect to be allot higher given Venkys would or supposedly market Rovers in India.

Creditors - Typically i include this as only certified amounts of work of which produces a liablilty due to fall and be paid to the company. From football this could be transfer fees etc.

Debtors - Finance charges, Cash Payments scheduled to go out and intrest due to be paid against serviceable loans which also may include sums/monies owed.

Why do they keep creating situations for paying people off all the time when it goes against the grain of cost cutting? Never mind the actual turnover of players and all the rest. Everything in football costs something, perfect way to leach.

Only just stopped paying Ryan "he is in traction" Nelsen last year as evident by last accounts and Degsy's enclosure on Radio Lans: - https://audioboom.com/boos/2753464-audio-blackburn-onerovers-md-derek-shaw-reacting-to-pre-tax-losses

[Parsonblue]

you defended him before,make your mind up.

agnew mk 2

You seem to have difficulty in reading what is actually written.

[ABBEY]

bit arrogant that parson to be fair.

[Parsonblue]

bit arrogant that parson to be fair.

Yep. You're right. Apologies. I should have explained my point which is - Cheston is clearly out of his depth. However, he is tasked with trying to keep the show on the road and that means he needs to safeguard the jobs of folk at Ewood, not least because without them he would be even more adrift than he is now. Let's be honest, the players aren't the ones who will suffer whatever happens - the rules and regulations ensure that they get paid no matter what. However, the folk working in the offices, groundstaff, shop, etc. are the ones who will really suffer if this club goes under.

[Dunnfc]

Yep. You're right. Apologies. I should have explained my point which is - Cheston is clearly out of his depth. However, he is tasked with trying to keep the show on the road and that means he needs to safeguard the jobs of folk at Ewood, not least because without them he would be even more adrift than he is now. Let's be honest, the players aren't the ones who will suffer whatever happens - the rules and regulations ensure that they get paid no matter what. However, the folk working in the offices, groundstaff, shop, etc. are the ones who will really suffer if this club goes under.

Good lad. You and Abbs top lads!

My overriding concern over Chestnut and the Indian circus is that they only plan for March 2017 (accounts period). Selling players and not stocking the fridge as one poster put it (expertly) is not the way to go forwards. No longevity. This club will go to the dogs in two years unless a stand is made and a proposal like Seneca is offered.

Chestnut - Speak to Venkys get the NDA's drafted and let the Ian's observe the books. whats the harm?

[ABBEY]

Yep. You're right. Apologies. I should have explained my point which is - Cheston is clearly out of his depth. However, he is tasked with trying to keep the show on the road and that means he needs to safeguard the jobs of folk at Ewood, not least because without them he would be even more adrift than he is now. Let's be honest, the players aren't the ones who will suffer whatever happens - the rules and regulations ensure that they get paid no matter what. However, the folk working in the offices, groundstaff, shop, etc. are the ones who will really suffer if this club goes under.

no need to apologise,i know people also who work there and have done for a long time but they know whats coming,whether cheston cares or not. I honestly believe hes another agnew crossed with shaw.

[J*B]

Cheston has two remits. Recover costs and reduce costs.

He is doing both very well.

[JHRover]

Its about time the spineless Lancashire Telegraph stopped being the club mouthpiece and started asking Cheston some serious questions about the direction the club is taking. They are one of the few organisations that has regular access and communication with Cheston and have really failed to get remotely close to dealing with the main issues facing the club. By 'concentrating on the football' they are conveniently ignoring major issues at the club.

Over the last few weeks Cheston has been very eager to appear in the Telegraph singing the owners praises, claiming season ticket sales are progressing well, singing Owen Coyle's praises etc.

I've heard it all before. Its just a different face doing the talking. First it was Paul Hunt, then Paul Agnew, then Derek Shaw, then Shebby Singh, then Alan Myers, now Mike Cheston. Its frankly boring. They might as well be reading from the same script. Owners committed, want to make a success of it, no intention of walking away, boo hoo FFP rules etc.

I want to know what the plan is at the club. Its obvious to us all what the plan has been over the last 12 months and will presumably continue until there is nothing of value on the playing side left to sell. Then what? What gets sold after that? How are we going to develop players for a profit if we build a team around loanees?

Cheston, as a financial expert, needs to explain these things. All the rest of it is bog standard fag packet drivel. People want to know what the short and medium term plan is. What is the contingency plan? Its all well and good cashing in on Bowyer's good work but then what? Where do we turn next? Does he think the behaviour of the last 12 months is sustainable or a blueprint for success?

How is he qualified to make footballing decisions? How is he qualified to run a managerial search and appointment? Who set the criteria that he broadcast? Why does Coyle not appear to meet any of those criteria?

[47er]

Yep. You're right. Apologies. I should have explained my point which is - Cheston is clearly out of his depth. However, he is tasked with trying to keep the show on the road and that means he needs to safeguard the jobs of folk at Ewood, not least because without them he would be even more adrift than he is now. Let's be honest, the players aren't the ones who will suffer whatever happens - the rules and regulations ensure that they get paid no matter what. However, the folk working in the offices, groundstaff, shop, etc. are the ones who will really suffer if this club goes under.

I've often wondered PB why you go on about the office, ground staff and others so often!? I'm a football supporter so, for me,they are there to support the club not the other way round. They are not the priority ie "let's keep buying season tickets so the ancillary staff keep their jobs."

People around the country lose their jobs everyday, some move on to new ones, some struggle. I feel for all of them but I don't see the Ewood staff as people to support per se, their fortunes are entirely tied up with the the fortunes of the club. If the club prospers so do they. I want he club to prosper and all employees with it.

It's Venkys who threaten their jobs because they threaten the club's existence,not me or any other supporter.

Any action or inaction taken by supporters shouldn't be predicated on the basis of whether it affects the livelihood of a member of the office staff.

Tbh I find your thinking here really odd.

[davulsukur]

Only just stopped paying Ryan "he is in traction" Nelsen last year as evident by last accounts and Degsy's enclosure on Radio Lans: - https://audioboom.com/boos/2753464-audio-blackburn-onerovers-md-derek-shaw-reacting-to-pre-tax-losses

Wow, if we are only just finishing payments to players who left 4 years ago, we are in trouble.

I Wonder Who else are we still paying? Emerton, Salgado, Murphy, etuhu, Best?

[Iceman]

I cant believe after more than 6 years, we are still trying to find answers re Venkys. Its disgusting, and utterly ridiculous piece of @#/? situation. Our fans shouldnt give a @#/? what the media has to say about them. This is not the media's club, and nor does the media care about us on any other given day. Protest hard, and destroy Venkys just the way they have destroyed the club, Uncle Jacks legacy, the fans passion, and those little kids who dream about having a fun filled day out to watch Rovers.

How much longer can people tolerate this nonsense? Are we all just happy that the season is back again, that you might see football again? Come next season, after another mediocre, chaos filled season, that we will once again moan about Venkys?

Again, go and support the players, but remember, as you sit there, or listening on the radio or online( in my case) , that deep down in your heart, what we are watching is a club devoid of any passion, commitment and pride. It will be another year of players and staff collecting their salaries and then moving on, and leaving us the fans asking the same questions again.

[ABBEY]

no need to apologise,i know people also who work there and have done for a long time but they know whats coming,whether cheston cares or not. I honestly believe hes another agnew crossed with shaw.

Edit ... One is now Ex employee (laid off today )

Parson who do you blame ? Venkys , cheston or the boycotters ?

[47er]

Edit ... One is now Ex employee (laid off today )

Parson who do you blame ? Venkys , cheston or the boycotters ?

I blame PB, he hasn't bought enough season tickets!

[Parsonblue]

Edit ... One is now Ex employee (laid off today )

Parson who do you blame ? Venkys , cheston or the boycotters ?

The owners are to blame Abbey - nobody disputes that.

[arbitro]

Edit ... One is now Ex employee (laid off today )

Parson who do you blame ? Venkys , cheston or the boycotters ?

That is sad news. For anybody to lose a job is bad but when it is directly attributed to wanton neglect and destruction is makes my blood boil. Has he/she been offered redundancy?

[1arC]

Wow, if we are only just finishing payments to players who left 4 years ago, we are in trouble.

I Wonder Who else are we still paying? Emerton, Salgado, Murphy, etuhu, Best?

That's exactly why I question, how on earth are we £105 million in debt. We have had all the premier league and TV Money (£150 million) I also assume we have had a large chunk of the transfer money (£150 million) The club will have you believe that we are £15 million in debt, as we have paid for transfers in and paid big wages, which we clearly haven't. So where has all this money gone please. We the fans are the ones who care and are the only ones who don't know. With no fans there is no club, yet they are stitching us up and raping the club, before our very eyes and we seemingly sit back and let them.

[tomphil]

We were supposed to have settled a few of those still being paid with the income from the sales that started last summer and front loaded them onto the accounts for FFP purposes we were told.

If we are still paying them now then indeed money is flowing somewhere else. Mind you it always has been IMO anyway !

However since then they've created another handful of pay offs from changing manager 3 times as well as coaching staff. But hell yeah lets lay off people at the ground to save a few quid because there aren't enough fans anyway.

Cluck Off Venkys.

[mustard]

We were supposed to have settled a few of those still being paid with the income from the sales that started last summer and front loaded them onto the accounts for FFP purposes we were told.

If we are still paying them now then indeed money is flowing somewhere else. Mind you it always has been IMO anyway !

Well it's not going back into the club! Posted in the Riverside Cam thread about how filthy Ewood is looking. Dirt and grime streaking down the stands, rust on the railings. Shows how little they care.

[JBiz]

That's exactly why I question, how on earth are we £105 million in debt. We have had all the premier league and TV Money (£150 million) I also assume we have had a large chunk of the transfer money (£150 million) The club will have you believe that we are £15 million in debt, as we have paid for transfers in and paid big wages, which we clearly haven't. So where has all this money gone please. We the fans are the ones who care and are the only ones who don't know. With no fans there is no club, yet they are stitching us up and raping the club, before our very eyes and we seemingly sit back and let them.

Stupid contracts have cost this club 50m+

Ridiculous management decisions have cost this club 10m+

Since the takeover, the club has never been in a situation where turnover > costs. The wage bill was nearly 100% turnover (including prem money) when they arrived.

The decisions they have made, and the outcome is precisely why the Premier League started Parachute payments, those dropping out of the league without planning for it would end up losing 90% of their turnover in some cases.

I genuinely find it obvious. If we are still paying off Nelsen (and he left 5 years ago) then think of the amount of others who went the same way, the big money prem players shunted aside when Kean got involved. Salgado, Emerton, Givet etc.

Then add on the ridiculous process that was first year in championship. Spending nearly 10m (smashing our own and the league transfer record) on a league 1 striker! Several players on 35k a week that we know about!! Rumours that the likes of Jake Kean, Jordan Slew, Etc on big money.

I just think the debt seems obvious! The con was by a fake manager and his representatives, and the poisonous seeds sown will hold us back for years.

Sitting back and watching it happen? What is my alternative in terms of proving that they are theiving from the club?

If they won't listen to fans with 60m ready to invest what hope do the fans have?

I could boycott but I refuse to have something which is part of the fabric of my life taken away by goons.

[1arC]

Stupid contracts have cost this club 50m+

Ridiculous management decisions have cost this club 10m+

Since the takeover, the club has never been in a situation where turnover > costs. The wage bill was nearly 100% turnover (including prem money) when they arrived.

The decisions they have made, and the outcome is precisely why the Premier League started Parachute payments, those dropping out of the league without planning for it would end up losing 90% of their turnover in some cases.

I genuinely find it obvious. If we are still paying off Nelsen (and he left 5 years ago) then think of the amount of others who went the same way, the big money prem players shunted aside when Kean got involved. Salgado, Emerton, Givet etc.

Then add on the ridiculous process that was first year in championship. Spending nearly 10m (smashing our own and the league transfer record) on a league 1 striker! Several players on 35k a week that we know about!! Rumours that the likes of Jake Kean, Jordan Slew, Etc on big money.

I just think the debt seems obvious! The con was by a fake manager and his representatives, and the poisonous seeds sown will hold us back for years.

Sitting back and watching it happen? What is my alternative in terms of proving that they are theiving from the club?

If they won't listen to fans with 60m ready to invest what hope do the fans have?

I could boycott but I refuse to have something which is part of the fabric of my life taken away by goons.

Don't forget Myles, he will probably still be getting a bit. I am not suggesting sitting back and letting it happen is anyone fault. We as supporters have no voice and no way of influencing anything. Assuming we have at least 5 more years of paying wages at the level we did, they we are all in danger of having no club to support. Whether you refuse to have something taken away that has been the fabric of your life, by goons or not, they have more or less ensured that it will be taken from you.