[Archived] Administration

[Paul]

We're not going into administration because FFP will NOT be enforced in the summer and Venkys are still (unbelievably) willing to sustain the over spend! Mark my words and STOP worrying guys!

How does FFP influence a decision on administration?

[thenodrog]

The Fine perhaps? Coupled witn transfer embargo it would be disastrous and could easily make Administration or worse the only sane option.

[MCMC1875]

The prime factor in a decision on whether to go into administration is insolvency - for the lay men out there read: when the cash runs out!

[FGS5635]

The prime factor in a decision on whether to go into administration is insolvency - for the lay men out there read: when the cash runs out!

Sorry if this is a daft question, but when the two main creditors are venkys themselves and the indian bank, what would they get out of administration as they cant afford to not pay themselves and the bank back?

[MCMC1875]

Sorry if this is a daft question, but when the two main creditors are venkys themselves and the indian bank, what would they get out of administration as they cant afford to not pay themselves and the bank back?

No sane person throws cash at a failing business indefinitely. A more likely outcome is that Venkys decide to stop the funding.

[FGS5635]

Do they not use the indian bank for all their other business dealings though? Can they afford to shaft them by going into admin?

[MCMC1875]

Do they not use the indian bank for all their other business dealings though? Can they afford to shaft them by going into admin?

As I understand it, their liability re BRFC is limited to Venkys (London) Ltd.

[thenodrog]

Sorry if this is a daft question, but when the two main creditors are venkys themselves and the indian bank, what would they get out of administration as they cant afford to not pay themselves and the bank back?

A 'stop loss' result. They have leaked millions and are by now fully sympathetic to Alan Sugars 'Prune juice' theory in relation to the breathtaking speed at which money which is shovelled in at the top of football comes out of the arse end.

[arbitro]

A case of 'Damned if you do and damned if you dont'. Bowyer gets critised frequently for being too quiet!

My gripe is that he has lived through the last three years and if he doesn't know how the majority of us feel then he is naive in the extreme. I like Bowyer when he is talking football. His sycophantic praising of the people who have ruined our club and turned us into a laughing stock riles me.

[DE.]

My gripe is that he has lived through the last three years and if he doesn't know how the majority of us feel then he is naive in the extreme. I like Bowyer when he is talking football. His sycophantic praising of the people who have ruined our club and turned us into a laughing stock riles me.

Okay, so you're in Bowyer's position and asked about the Raos - what do you say? Keep in mind your belief that Bowyer should espouse the exact view of the fans and yet still wants to keep his job.

[FGS5635]

Okay, so you're in Bowyer's position and asked about the Raos - what do you say? Keep in mind your belief that Bowyer should espouse the exact view of the fans and yet still wants to keep his job.

Exactly.

Has he really said anything controversial. All he says is they have backed him and Mrs D is nice. Well they have backed him and just becasue she is retarded at running a football club, doesnt mean she isnt a 'nice lady'.

He says the bare minimum to get out of the interview and hardly lavishes them with praise

[K-Hod]

The Raos are loose cannons as we all know, Bowyer knows he has to keep them sweet.

The guy has a family to provide for.

[arbitro]

Okay, so you're in Bowyer's position and asked about the Raos - what do you say? Keep in mind your belief that Bowyer should espouse the exact view of the fans and yet still wants to keep his job.

Would they sack him for saying nothing? Because in my opinion he should have said nothing. I just feel insulted after what we have been through and then hear praise for them (and that would apply to anybody who praised them). I also think that because Bowyer is popular with the fans it makes it more palatable. If Shaw had said the same thing I think he would be universally slaughtered.

[DE.]

Shaw has done far more to damage the club with his antics, he's been a part of the problem for some time. Bowyer has been nothing but positive for the club.

Let's say Bowyer declines to comment and the article then reads "when asked about the club's current owners, much-maligned Venky's, Bowyer refused to speak on the topic."

How do you think that would read to Desai etc when/if they see it?

[Plastic Head]

The prime factor in a decision on whether to go into administration is insolvency - for the lay men out there read: when the cash runs out!

The cash from the club ran out ages ago.

More like : When they can't be bothered to keep pouring rupees into a hole.

[TBTF]

Sorry if this is a daft question, but when the two main creditors are venkys themselves and the indian bank, what would they get out of administration as they cant afford to not pay themselves and the bank back?

They would only do it to stop the tap and call a halt to the money they keep having to shove in.Basically it would cap off their running liability.In other words when they decide enough is enough and that is the threat we constantly live under

[roverzee]

I continue to suspect that what has gone on at Rovers is so bad that the folks in Pune would not want any third party sifting through the ruins any time soon. Assuming the bank are happy just to sit on the collateral, there are ways to slash the outgoings to a bare minimum next season.

What a load of absolute b o l u x. Keep clinging on to your failed conspiracy theories. Here in Blackburn we'll turn up at Ewood and try and have a positive effect.

[Waggy76]

What a load of absolute b o l u x. Keep clinging on to your failed conspiracy theories. Here in Blackburn we'll turn up at Ewood and try and have a positive effect.

They are not failed , there is a reason why Big Sam was sacked and replaced by Kean !

It was not for the betterment of BRFC !

[chris_h]

They are not failed , there is a reason why Big Sam was sacked and replaced by Kean !

It was not for the betterment of BRFC !

Clearly the sacking of Allardyce and the appointment of Kean turned out not to be to the betterment of the club. I do believe that the sacking of Allardyce was done because the owners believed that that would be for the betterment of Rovers. Of course, anybody who had any knowledge of football knew that, at that time, it was completely the wrong decision. It seems clear that Venkys went ahead anyway on the advice of you know who - which brings me to Phillipl. Most of the stuff he posts is self serving, attention seeking, agenda driven nonsense delivered in a haughty, arrogant manner and I readily admit to being one of his sternest critics. However, one of the many things about his posting on here that got my back up was an obsession with Jerome Anderson. I gave the Maltese Accountant plenty of stick over that but it turns out he had that much pretty bang on so he deserves some credit for it.

The rest of his stuff was/is utter bullshine and you know what they say about stopped clocks.

[bob fleming]

Why are they still here? We keep asking the same question? I'm sure Rhodes was going to be sold in the summer, to Bolton or was it Wigan? Not sure. But get some cash back - then pull the plug. Why buy Cairney? Why buy anyone? Why bother at all?!? The lad from Accy? The Academy status?

Fact is they're still here. And yes I do remember what's happened. All of it. I even wrote about it in detail for a few months.

Stitched up like kippers they were, (the fecking idiots), as we were. By utter scumbags who lined their pockets and who couldn't do anymore to take the p!ss if they tried. We all know their names.

We have to hope that they carry on in the same manner of the last 6 months or so. Funny how it's all been a wee bit more "normal" since Agnew left ain't it? (Shaw should still go as well IMO and they need to spend some money on the ground - sharpish)

Yes, not quite right that Gary Bowyer seems to be running the entire ship - but then again it worked for Ferguson. We live in hope he's the real deal. I've got to admit it's getting better, a little better all the time. Small steps. There's no quick fix here. A good four days though.

[Steve Moss]

If so, why don't they speak!!!! Why not tell us what they have planned?? I have to have a business plan, cos my bank says so! But the silence is deafening!

I'd rather Venkys and Derek Shaw not say anything. If something needs to be said, let Gary Bowyer say it, until we get a proper board and CEO into the club.

[stanhillrover]

Its quite clear that the only way that Venkys are going to salvage any kind of financial or commercial benefit from Rovers is for them to get back into the Premier League.

Their actions thus far are of people who have absolutely no intention or interest in 'bailing out' - either by selling the club or by ending their financial support. As recently as this week they have sanctioned an estimated £1 million spend on Cairney and Gestede without it seems any imminent departures to cover that.

At the moment it is not only their money keeping the club going but also I feel what is giving us our best chance of promotion out of this league. Without their backing there is no way we would have been able to attract the likes of Rhodes or Cairney. For me we have to hope they are committed to this newfound stability and seemingly sensible approach of signing hungry, young, talented players and backing the manager's judgment and apparently sidelining people like Shebby Singh. Leicester is a club that I would like to see us emulate - building a side over time and backing the manager and now they are reaping the rewards of that.

For what it's worth I don't think they have any plans to sell the club or to walk away. I think the greatest threat is either that they will start to listen to the wrong people again and we could go back to the circus of the last 3 years or that they could try to reduce expenditure drastically if promotion isn't achieved.

I hope it is beginning to dawn on them that promotion doesn't need to be 'bought' by throwing money at it like there's no tomorrow, and that recent examples like Hull and Palace demonstrate that any club can get out of this league if the formula is right.

[Stuart]

I've got to admit it's getting better, a little better all the time.

It can't get no worse.

[Riverside67]

Bob, I agree with your analysis com[pletely.

Naive stupidity and listening to self interested consultants was their undoing.

It is usually 99% cock up and 1% conspiracy in these things but it makes for a far less interesting story.

Long way back for Mrs Desai but I think she is trying her best. I think she gets it and realises Balaji is the loose cannon who needs keeping out the limelight.

[den]

Long way back for Mrs Desai but I think she is trying her best.

Well in that case, explain the plan to me then, because I don't have a clue what it is.