[Archived] Administration

[PAFELL]

I am sorry to say, I now think administration in the next two months is a very real possibility. Venky's are damaged and that means we are the next Bala Entertainment (see John above) regardless of which division we are in.

Frankly I am beyond caring whether the revelations to come damage Rovers or not as I think the club is already damaged beyond repair.

Probably be best if Rovers take the whole rotten edifice with them as they collapse so bring it on.

Awhile ago you were saying that venkys would not dare allow the club to go into administration because of what would be revealed. What has happened to change your view?

[Ricky]

Phil on March 16th

"So there is no way on earth that Venky's would ever contemplate letting Rovers go into administration."

Phil on April 13th

"I am sorry to say, I now think administration in the next two months is a very real possibility. Venky's are damaged and that means we are the next Bala Entertainment (see John above) regardless of which division we are in."

A stopped clock is right twice a day Phil.

[thenonda]

Phil on March 16th

"So there is no way on earth that Venky's would ever contemplate letting Rovers go into administration."

Phil on April 13th

"I am sorry to say, I now think administration in the next two months is a very real possibility. Venky's are damaged and that means we are the next Bala Entertainment (see John above) regardless of which division we are in."

A stopped clock is right twice a day Phil.

Whilst I agree with the sentiment. If everything is going to come out about the happenings behind the club then and venkys are powerless to stop it then I can understand what the position would change.

If the reason to pump money in is to keep things hidden then why continue is it is goin to come out anyway?

[thenodrog]

I think you are right Philip - if it means those silly clowns in India leave our club for good!

And if there is no club? No Ewood Park? No Brockhall? Have you played snakes and ladders? Cos I'm not sure that you understand what might be at the end of this particular snake. Who has the wherewithall AND/OR the inclination to pick this lot up when the Indians are forced to admit defeat as surely one day soon they must be? We are like the Titanic just after it struck the iceberg, motionless in the weater withy the band is still playing in the background but ultimately we are doomed.

[OJRovers]

There are suggestions that the money tap has been turned off, and a new strategy planned, hence going with bowyer rather than anyone who would cost money.

Venkys ownership without the money? God help us.

[philipl]

Phil on March 16th

"So there is no way on earth that Venky's would ever contemplate letting Rovers go into administration."

Phil on April 13th

"I am sorry to say, I now think administration in the next two months is a very real possibility. Venky's are damaged and that means we are the next Bala Entertainment (see John above) regardless of which division we are in."

A stopped clock is right twice a day Phil.

Ricky

A month intervened and things have happened.

Karen Silk had been happy to be a Director, at some point she ceased being happy to be a director. Something(s) happened to change her mind and she is a lot closer to the scene than I am. Unlike for myself, there would be consequences for her if/when the club goes into administration. If I were in her shoes, my resignation would have gone in given what I know now and did not know then.

Can't you understand that the world doesn't exist in a static fridge with the lights off?

[Stuart]

Ricky

A month intervened and things have happened.

Karen Silk had been happy to be a Director, at some point she ceased being happy to be a director. Something(s) happened to change her mind and she is a lot closer to the scene than I am. Unlike for myself, there would be consequences for her if/when the club goes into administration. If I were in her shoes, my resignation would have gone in given what I know now and did not know then.

Can't you understand that the world doesn't exist in a static fridge with the lights off?

Philip,

What do you believe has happened in the last month to make administration more likely, and why Venkys would now be prepared to risk an administrator pouring over the club's accounts?

[tomphil]

Could be a good exit strategy coming into play if stories keep coming out about how much money has been blown on players/agents etc. They can then stand back in the image of generous but niave and say look at the money we've poured in and we have been taken for a ride and we can't/won't continue like this. Exit stage left portrayed as partly victims and some reputation intact.

[Ricky]

Phil, I think the point I'm trying to make is that you do tend to sensationalise things. Read your first quote again... There is no way that venkys would EVER let us go into admin. That's quite a bold statement surely.

[dingles staying down 4ever]

Ricky

A month intervened and things have happened.

Karen Silk had been happy to be a Director, at some point she ceased being happy to be a director. Something(s) happened to change her mind and she is a lot closer to the scene than I am. Unlike for myself, there would be consequences for her if/when the club goes into administration. If I were in her shoes, my resignation would have gone in given what I know now and did not know then.

Can't you understand that the world doesn't exist in a static fridge with the lights off?

As someone who does not understands all the legal and financial stuff, can we clarify something? If as Phil says that some things have happened in the last month to make Karen Silk want to jump ship and impending doom for Rovers then why would an experienced finance person as Karen Silk decide to not jump ship if administration would have consequences for her? Has she been given assurances or is it already too late for her and Rovers?

[K-Hod]

Phil, I think the point I'm trying to make is that you do tend to sensationalise things. Read your first quote again... There is no way that venkys would EVER let us go into admin. That's quite a bold statement surely.

I agree. A lot of Philipl's posts are good and insightful, but there is the melodramatic nature of others, like the one initially posted in bold. The condescending response was a bit daft as well, why not just admit to being wrong??

[AggyBlue]

I agree. A lot of Philipl's posts are good and insightful, but there is the melodramatic nature of others, like the one initially posted in bold.

That's Philip. That's how he posts. We all know that. Why the need to make a fuss?

[K-Hod]

That's Philip. That's how he posts. We all know that. Why the need to make a fuss?

Was just making an observation and posting my thoughts on said observations. Surely that's the point of this message board?

Sharing views and all that??

[AggyBlue]

Was just making an observation and posting my thoughts on said observations. Surely that's the point of this message board?

Sharing views and all that??

Of course.

[ABBEY]

He also told us that admin would come after the burnley game.

[Roverall]

And he's still mopping up the sweat from Richard Scudamore's brow.

[AggyBlue]

He also told us that admin would come after the burnley game.

Don't you jump on the bandwagon.

If it comes, will it be after the Burnley game?

[MrT]

Everyone keeps banging on about admin, but if the debts are 25m + (maybe double) its been pretty well documented that we are losing between 2 and 3m per month, then I'm concerned that admin wouldn't be a viable option.

The easiest way to clear their tracks would be liquidation, and if the debt is realistically unmanageable via admin, this concerns me far more than the threat of admin

[ABBEY]

Don't you jump on the bandwagon.

If it comes, will it be after the Burnley game?

Ha but he did say the week after it .

[Stuart]

If it comes, will it be after the Burnley game?

[Batman.]

I agree. A lot of Philipl's posts are good and insightful, but there is the melodramatic nature of others, like the one initially posted in bold. The condescending response was a bit daft as well, why not just admit to being wrong??

Philip has been a no nothing sensationalist for literally going on a decade now. For some reason only me, Toogs, and a couple of others realised this at the time. My favourite will forever remain "name ten clubs who could realistically sign Xabi Alonso ahead of Rovers."

Two weeks later he was stood in the Bernabeu.

[K-Hod]

Philip has been a no nothing sensationalist for literally going on a decade now. For some reason only me, Toogs, and a couple of others realised this at the time. My favourite will forever remain "name ten clubs who could realistically sign Xabi Alonso ahead of Rovers."

Two weeks later he was stood in the Bernabeu.

*know

[Roverall]

Philip has been a no nothing sensationalist for literally going on a decade now. For some reason only me, Toogs, and a couple of others realised this at the time. My favourite will forever remain "name ten clubs who could realistically sign Xabi Alonso ahead of Rovers."

Two weeks later he was stood in the Bernabeu.

A decade?

Come now, sonny, I've been reading Philip's pearls for a few years longer that that.

He gets some right, he gets some wrong, and he teases like a Vegas showgirl!

[Salgado Is A Hero]

Philip has been a no nothing sensationalist for literally going on a decade now. For some reason only me, Toogs, and a couple of others realised this at the time. My favourite will forever remain "name ten clubs who could realistically sign Xabi Alonso ahead of Rovers."

Two weeks later he was stood in the Bernabeu.

Haha, just read through that part of that thread. Funny stuff.

http://www.brfcs.com/mb/index.php/topic/19386-pennant/page-8

[Paul]

When I went searching for this thread I was surprised how long it was since comment was made. Our current form, i.e. points collected rather than actual team play, and the last two results got me thinking about the likely outcome for this season. Several people have commented we are looking for promotion on the cheap and others say we are in huge financial trouble without promotion. So what's the plan? This is how I see it.

Clearly everyone, including Venkys, wants promotion which looks increasingly unlikely unless we put together a very good string of results. We need to go on a good run and recent results, when the opportunity to hit top six was there, suggest we can't or won't achieve a significant run. With half our games gone we have 31 points, averaging 1.4 points / game, which will give us +/- 64 for the season.

Football League clubs must go into administration before the fourth Thursday in March to take the points deduction in the same season, after that it carries forward to the next season.

By the time we have played Watford on Tuesday, March 25th, we could be on the 52 point mark. If we take administration and a points deduction by the 27th AND continue our average form we would finish on 54 points (52-10 = 42 plus last 8 games, 12 points = 54). Currently the bottom seven clubs cannot achieve more than 52 points if their average form continues, four of them already have at least -18 goal difference.

I reckon there are some interesting calculations going on in Pune. The real key is the extent of our football and non-football debts. If the football debts are very significant, and we have to pay these, how successful or otherwise administration would be is a huge question.