[Archived] administration

[Venkys_ OutOut]

might aswel get an administration thread going...

so with our incompetent owners who have that much respect for fans, love the club to bits and can't even be bothered to leave India to spend time at the club...

with a directors board who don't even like each other...

with players who can't be bothered to play football for certain managers...

with a new manager who has experience in administration....

is this where we are heading at the end if this current season?

Leeds and Portsmouth anyone?

[Hughesy]

No - can we close the thread now please?

[philipl]

Hughesy I think I know what you know.

However, the club's burn rate through cash is horrific in the extreme. You'll be amazed how quickly Balaji's bankers' largesse is being squandered.

I don't think Venky's would dare even let a friendly administrator near the club. Too many powerful people in the business and political worlds would ask too many awkward questions for a sweetheart administration to stand a chance.

Venky's desperately need the cosy football owners' club abrogation of responsibility as practised by the Premier League, the Football League and the FA. If they ever escape that closet, the roof falls in.

[ABBEY]

No - can we close the thread now please?

WHY? ALL HAIL VENKYS? BLING N BONG ROCK?

[Venkys_ OutOut]

it's coming people

[chaddyrovers]

say who????

[SouthAussieRover]

say who????

The Doctor???

[Waggy76]

I would be very very surprised ,if we do not suffer another relegation within the next 2 seasons (probably safe this time)

when that occurs it could trigger administration !

[Hughesy]

WHY? ALL HAIL VENKYS? BLING N BONG ROCK?

He asked if admin was coming, I answered. WTF u banging on about?

[Roverthechimp]

Scaremongering and weak conjecture - have a week off and enjoy the football instead. We have some good players and just need to form them Into a team with a couple of additions.

[philipl]

Said the ostrich who hasn' t got a clue what losing £500k a week does to a business.

[broadsword]

Scaremongering and weak conjecture - have a week off and enjoy the football instead. We have some good players and just need to form them Into a team with a couple of additions.

Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiight.

Squad needs major surgery.

You sound as blinkered as Hughesy.

You can't keep on losing money hand over fist and not expect consequences.

[Gav]

Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiight.

Squad needs major surgery.

You sound as blinkered as Hughesy.

You can't keep on losing money hand over fist and not expect consequences.

Exactly, can't understand why fellow posters on here are just dismissing the prospect out of hand. We're not going up this season I'm sure of that, so thats at least another 18 months losing millions per month, something has to give.

[Roost]

I would be very very surprised ,if we do not suffer another relegation within the next 2 seasons (probably safe this time)

when that occurs it could trigger administration !

Eh??

So you are saying we will get relegated this season or next?

Based on?

[47er]

I can't see us being relegated this season but I would not be confident about next. Unless the admin pulls together and Venkys shell out big time we'll will drown in a sea of debt and bad decision making.

Alternatively, they could sell. In that case outcomes would depend totally on who the new buyer is.

[jim mk2]

Based on?

The club is in decline because it is being badly managed on and off the field, the best players are slowly being sold and replaced by players of lesser quality, the club is losing money at an ever increasing rate and the situation will have to be addressed sooner rather than later, and we have owners who are making the same mistakes over and over again and who seem not to care about the future of the club.

Recipe for relegation and ultimately administration if allowed to continue I would say.

[den]

Quite right Jim. Without doubt we're making huge losses, so either the Raos are paying out of their own pocket, or it's going onto our debt. It's one of the two.

[Sparky Marky]

Hmmmmm....I wonder which.

[Roverthechimp]

Said the ostrich who hasn' t got a clue what losing £500k a week does to a business.

Thats about 25 million per annum - meaning with our income this season and next of approximately 20 - 22 million then we are spending 45 million per year. Seeing as our overheads excluding players amount to between 6- 7 million then you are calculating that we are going to have a wage bill approaching 40 million. Now seeing how everybody has been bitching about how we shipped out our high earners and only etuhu and rhodes are on big money beyond 2014/2015 then i am wondering why you think we will continue to lose money at the same rate?

I'm fecking glad you aren't my accountant

[Roverthechimp]

Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiight.

Squad needs major surgery.

You sound as blinkered as Hughesy.

You can't keep on losing money hand over fist and not expect consequences.

We are seeing the consequences, a reduction in staff together with players (and manager) appropriate to our financial level whilst using the subsidy from the premier league to give us a push at promotion (unfortunately the big money players have not delivered).

The squad needs major surgery to be competitive in the premier league, to be competitive in the championship then minor surgery may suffice (imo)

[philipl]

Thats about 25 million per annum - meaning with our income this season and next of approximately 20 - 22 million then we are spending 45 million per year. Seeing as our overheads excluding players amount to between 6- 7 million then you are calculating that we are going to have a wage bill approaching 40 million. Now seeing how everybody has been bitching about how we shipped out our high earners and only etuhu and rhodes are on big money beyond 2014/2015 then i am wondering why you think we will continue to lose money at the same rate?

I'm fecking glad you aren't my accountant

You are going to be swallowing your words when this year's accounts are published.

There are seven players including the new additional players (Murphy, Etuhu and Rhodes) on very big wages whilst the relegation clauses averaged out at a 35% reduction. Wages were 91% of turnover last season at £50m so your numbers for wages of £40m are probably pretty close.

Chuck in the £1.2m to Kean, Berg's deal, paying Blackpool for Appleton, agents' fees quite likely to have been at least £2m for the summer imports....

Dan Grabko is estimating the loss to be in the region of £25m to £30m by the way.

[Mike E]

Assuming Venkys plug the gap (they can afford it and plugged the gap last year, judging by numbers/reports), will we still need to worry? Is it IMPERATIVE that we go up this season, or can we afford to wait til next?

From what I've seen, we only need to worry if we're still in this league in 2014/15.

[philipl]

Assuming Venkys plug the gap (they can afford it and plugged the gap last year, judging by numbers/reports), will we still need to worry? Is it IMPERATIVE that we go up this season, or can we afford to wait til next?

From what I've seen, we only need to worry if we're still in this league in 2014/15.

Why oh why would they continue plugging the gap?

Rovers supporters need to be prepared for a road crash this summer with a massive clear out of players and the wage bill shrunk by 75%.

If all these protestations that Shaw was simply told to do the Appleton deal are to be believed (and I am not convinced), then the logical conclusion is Venky's signed the former Pompey Manager to get someone in who has a track record of keeping players playing whilst everybody is shot or sold.

It is all looking a bit obvious, isn't it?

[Venkys_ OutOut]

the way the club has been run during the 2 years I'd dread to think what the debt account is like...

no matter who you are or how much money you have a company or person can only put so much money in without making any back

we sent getting the crowds and I doubt merchandise is shifting either...

look at man city... I doubt for one min that they are making anywhere near what they've spent/wage bill and they do sell tickets and merchandise.... we are in BIG trouble

[chaddyrovers]

nobody knows what is happen with Rovers.

we could get promote this season through the playoffs.

we dont know who was behind the Appleton appointment. some ppl say Shaw, some ppl say Shaw wasnt and it came from Venkys.