[Archived] Administration

[Exiled in Toronto]

http://www.bbc.co.uk/sport/0/football/21970140

Coventry in quite a lot of trouble and have just been deducted 10 points.

I think this just shows why the rest of the football world will never take much interest in our plight beyond the comedy level. Coventry were a more established top flight club than us, 25 years straight, won the FA Cup, now look at them. They would kill to be in our shoes.

[gumboots]

what's even more worrying is that reports suggest the owners accidentally put them in admin, because there are so many separate companies involved in Coventry that nobody knows which company actually controls them, if i understood the news reports correctly

[ABBEY]

This is the time of the season where phill l told us in oct admin was a coming .

[philipl]

The Indian banks are not sweating in the least.

They are sitting on pledges over land that it is rapidly rising in value.

[chaddyrovers]

This is the time of the season where phill l told us in oct admin was a coming .

proves Philipl didnt know what he was on about.

[AndyNeil]

To be fair to philipl, it wasnt/isnt only him banging the 'administration' drum...IMO us being in Championship/League 1 at the end of the 2013/2014 season could see us enter administration - this is only my opinion based on the £24 million being recently injected into VLL being two seasons of parachute payments 'cashed in'. That would be end of the parachute payments with the amount of external funding required jumping by another £14 million per season just to maintain current income levels.

I dread to think how the Accounts for Blackburn Rovers (not VLL) will look as at 30th June 2013

[patrickvalery]

proves Philipl didnt know what he was on about.

Come on Chaddy, it doesn't look too rosy from where i'm sitting. Philip might have painted a doomsday scenario, but i'd wager the accounts of BRFC are none too pretty.

[chaddyrovers]

Come on Chaddy, it doesn't look too rosy from where i'm sitting. Philip might have painted a doomsday scenario, but i'd wager the accounts of BRFC are none too pretty.

I dont disagree with the accounts not looking great.

but this doomsday scenario was well over the top.

[philipl]

Chaddy old boy, any business other than a football club with Rovers' finances would have entered administration six months ago.

The only question worth pondering is why and to whose benefit are Rovers not in administration...?

[den]

but this doomsday scenario was well over the top.

So far.

[chaddyrovers]

You tell us Philipl???

You seem to be saying someone/people are???

I think you dont have clue and just making us this stuff up again

[darrenrover]

In all probability administration would quickly lead to liquidation due to the inability to write off inter-football related debts.

A real doomsday scenario!

[47er]

No need to make stuff up, would not be remotely as far-fetched as what has actually happened.

Wondering why you feel the need to defend them tbh.

[philipl]

I wish I were making up the Rovers accounts.

Even I would struggle to create something so grisly!

[chaddyrovers]

I wish I were making up the Rovers accounts.

Even I would struggle to create something so grisly!

u didnt answer my question?

[Guest Norbert]

I have to admit, with no desire from the vermin to sell, there is part of me that has a 'pull the plug and get it over with, and then start again' mentality. There seems to be no light at the end of this tunnel, and a future in league 2 awaits us.

[Stuart]

To be fair to philipl, it wasnt/isnt only him banging the 'administration' drum...IMO us being in Championship/League 1 at the end of the 2013/2014 season could see us enter administration - this is only my opinion based on the £24 million being recently injected into VLL being two seasons of parachute payments 'cashed in'. That would be end of the parachute payments with the amount of external funding required jumping by another £14 million per season just to maintain current income levels.

I dread to think how the Accounts for Blackburn Rovers (not VLL) will look as at 30th June 2013

Agree, this is where I'm at.

Chaddy, you can call it scaremongering and try to stay positive but it's the numbers that people are worried about. Particularly when financial people like Fernhurst Rover and Philipl are concerned.

[jodrell]

I dont disagree with the accounts not looking great.

but this doomsday scenario was well over the top.

Is it over the top the Loons can't any decisions right.They got rid of all the people that could have keeped us in the prem. Keep Shabby and Shagnew

who can't get on and only interest is their ego

.Landed us in untold debt, fans leaving in the thousands possibly more next season. getting rid of all the best players.So everything is looking Rosie and we will make a profit next year.

[Guest Norbert]

I'm no financial genius, but I can see that the accounts are in a mess, and things are sailing dangerously towards the Portsmouth situation. We are absolutely f_cked unless those despicable cockroaches leave the club, and sell to someone who can clear the debts.

[broadsword]

u didnt answer my question?

I think the clear conclusion is that he is unable to disclose what he knows because he can't substantiate it without compromising himself.

It seems that everything in your world is black and white and anything you don't want to hear you have to rubbish it. It's the equivalent of sticking your fingers in your ears and shouting lalalalalala can't hear you.

[Amo]

I think the clear conclusion is that he is unable to disclose what he knows because he can't substantiate it without compromising himself.

It seems that everything in your world is black and white and anything you don't want to hear you have to rubbish it. It's the equivalent of sticking your fingers in your ears and shouting lalalalalala can't hear you.

Tbf, chaddy and philip are about as black & white as you can get.

[K-Hod]

I'm no financial genius, but I can see that the accounts are in a mess, and things are sailing dangerously towards the Portsmouth situation. We are absolutely f_cked unless those despicable cockroaches leave the club, and sell to someone who can clear the debts.

Pretty much my feelings exactly.

I think Philipl is a massive doomsayer at the best of times, but it's hard to argue he's got a point with what he's saying above...

[DE.]

It's universally accepted we're losing around £2m a month. If anybody thinks that is sustainable over any lengthily period of time then I pray you have a good accountant to help you with your own finances.

[Exiled in Toronto]

Our current situation of having outgoings massively in excess of football-related income isn't much different to how we spent the 1990s, it's just that we had more faith in the man stumping up to cover the endemic losses.

Personally I'm still waiting for Philipl's 8-year assertion of Man Yoo's financial meltdown to come to pass before I lose too much sleep about administration/liquidation/extermination

[Stuart]

Seriously, EiT? Your appraisal of the current financial situation at Rovers is entirely dependent upon what Philip thinks about the Glazers?