[Archived] Blackburn Rovers balance sheet

[darrenrover]

Unless Newco Blackburn Rovers 2014 was formed ala Rangers etc

The FA, UEFA and FIFA can't make the Rao's pay out indefinately

You're right but I for one wouldn't wish that.

Rangers will rise from the ashes in 3 years, because they're still Rangers.

Blackburn Rovers wouldn't!

I may be wrong, controversial or whatever. I despise all that Venkys either inadvertently or otherwise have heaped on this club.

But and it's a bloody big BUT, I still believe that their financial clout and personal pride is the ONLY thing that will stop us crossing swords with Accy, Bury, Oldham etc, no offence intended but I've been there many moons before.

No point contemplating what ifs, the fact of the matter is we are where we are!

Edit, I really do hope Singh has booked a flight back this weekend and he's only really in UK to meet Niall Quinn to endorse his Sunderland job application to carry on the De Canio legacy!

[Paul]

Unfortunately Yoda, accrued football related debts, contracts and liabilities can't be written off as a consequence of administration.

I dread to think what that would amount to.

You are of course completely correct however it is possible to come to arrangements as to how and when these debts are paid off. Faced with a choice of arranging a payment schedule or getting nothing most would agree to a schedule. Portsmouth is a good example. I think, stress think, Pompey went bust for £58-60m of which about £48m was owed to owners. If, again stress if, Rovers owe significant monies to VLL and / or Venkys the actual football debts which have to be settled could be relatively low. When the accounts are published it will be very interesting to try and tease out what is owed and to who.

Here is the schedule Pompey agreed with their players for unpaid wages:

DAVID NUGENT

£143,250 - 40 monthly payments of £3,581.25.

DAVID JAMES

£145,921.90 – 40 months of £3,648.05.

KANU

£155,314.50 – three lump-sum payments of £51,771.50 in March 2014, 2015 and 2016.

BENJANI

£214,572.73 – 40 months of £5,364.32.

HAYDEN MULLINS

£632,281.32 – 28 monthly payments of £21,867.19. One lump-sum payment of £20,000 in January 2016.

AARON MOKOENA

£288,844.80 – 40 months of £7,225.92.

DAVID NORRIS

£182,729.92 – 40 months of £4,568.26.

ARUNA DINDANE

£176,245.03 – 40 months of £4,406.13.

LUKE VARNEY

£153,818 – 40 months of £3,845.

ERIK HUSEKLEPP

£40,000 – lump-sum payment of £20,000 in January 2014 and January 2015.

HASSAN YEBDA

£264,491.44 – 40 months of £6,612.29.

STEPHEN HENDERSON

£42,935.86 – 40 month of 1,073.40.

GREG HALFORD

£162,802.76 – 40 months of £4,070.07.

RICARDO ROCHA

£165,136.61 – 40 months of £4,128.40.

JAMIE ASHDOWN

£78,731.92 – 40 months of £1,968.30.

JASON PEARCE

£29,162.51 – 40 months of £729.06.

HERMANN HREIDARSSON

£42,935.86 – 40 months of £1,073.40.

KELVIN ETUHU

£3,000 – one payment made on Aug 30, 2013.

JOEL WARD

£20,206.57 – 40 months of £505.16.

STEVE FINNAN

£88,312.50 – 40 months of £2,207.81.

MICHAEL BROWN

£472,375 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £6,809.38.

RICHARD HUGHES

£372,484.42 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £4,312.11.

LIAM LAWRENCE

£616,666.54 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £10,416.67.

DAVE KITSON

£608,333.36 – lump-sum payment of £150,000 on Aug 30, 2013. 40 months of £11,458.33.

TAL BEN HAIM

£1,633,333.36 – lump-sum payments of £650,000 on Aug 30, 2013 and £150,000 on Aug 31, 2014. 40 months of £20,833.33.

*Kanu payment will be split in accordance with an Order of Finance Disciplinary Committee.

[yoda]

You are of course completely correct however it is possible to come to arrangements as to how and when these debts are paid off. Faced with a choice of arranging a payment schedule or getting nothing most would agree to a schedule. Portsmouth is a good example. I think, stress think, Pompey went bust for £58-60m of which about £48m was owed to owners. If, again stress if, Rovers owe significant monies to VLL and / or Venkys the actual football debts which have to be settled could be relatively low. When the accounts are published it will be very interesting to try and tease out what is owed and to who.

Here is the schedule Pompey agreed with their players for unpaid wages:

DAVID NUGENT

£143,250 - 40 monthly payments of £3,581.25.

DAVID JAMES

£145,921.90 – 40 months of £3,648.05.

KANU

£155,314.50 – three lump-sum payments of £51,771.50 in March 2014, 2015 and 2016.

BENJANI

£214,572.73 – 40 months of £5,364.32.

HAYDEN MULLINS

£632,281.32 – 28 monthly payments of £21,867.19. One lump-sum payment of £20,000 in January 2016.

AARON MOKOENA

£288,844.80 – 40 months of £7,225.92.

DAVID NORRIS

£182,729.92 – 40 months of £4,568.26.

ARUNA DINDANE

£176,245.03 – 40 months of £4,406.13.

LUKE VARNEY

£153,818 – 40 months of £3,845.

ERIK HUSEKLEPP

£40,000 – lump-sum payment of £20,000 in January 2014 and January 2015.

HASSAN YEBDA

£264,491.44 – 40 months of £6,612.29.

STEPHEN HENDERSON

£42,935.86 – 40 month of 1,073.40.

GREG HALFORD

£162,802.76 – 40 months of £4,070.07.

RICARDO ROCHA

£165,136.61 – 40 months of £4,128.40.

JAMIE ASHDOWN

£78,731.92 – 40 months of £1,968.30.

JASON PEARCE

£29,162.51 – 40 months of £729.06.

HERMANN HREIDARSSON

£42,935.86 – 40 months of £1,073.40.

KELVIN ETUHU

£3,000 – one payment made on Aug 30, 2013.

JOEL WARD

£20,206.57 – 40 months of £505.16.

STEVE FINNAN

£88,312.50 – 40 months of £2,207.81.

MICHAEL BROWN

£472,375 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £6,809.38.

RICHARD HUGHES

£372,484.42 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £4,312.11.

LIAM LAWRENCE

£616,666.54 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £10,416.67.

DAVE KITSON

£608,333.36 – lump-sum payment of £150,000 on Aug 30, 2013. 40 months of £11,458.33.

TAL BEN HAIM

£1,633,333.36 – lump-sum payments of £650,000 on Aug 30, 2013 and £150,000 on Aug 31, 2014. 40 months of £20,833.33.

*Kanu payment will be split in accordance with an Order of Finance Disciplinary Committee.

I have said before that is where the Bank of India may have done the club a big favour in the arrangements, the club accounts as opposed to VLL accounts should paint a very interesting picture

[darrenrover]

You are of course completely correct however it is possible to come to arrangements as to how and when these debts are paid off. Faced with a choice of arranging a payment schedule or getting nothing most would agree to a schedule. Portsmouth is a good example. I think, stress think, Pompey went bust for £58-60m of which about £48m was owed to owners. If, again stress if, Rovers owe significant monies to VLL and / or Venkys the actual football debts which have to be settled could be relatively low. When the accounts are published it will be very interesting to try and tease out what is owed and to who.

Here is the schedule Pompey agreed with their players for unpaid wages:

DAVID NUGENT

£143,250 - 40 monthly payments of £3,581.25.

DAVID JAMES

£145,921.90 40 months of £3,648.05.

KANU

£155,314.50 three lump-sum payments of £51,771.50 in March 2014, 2015 and 2016.

BENJANI

£214,572.73 40 months of £5,364.32.

HAYDEN MULLINS

£632,281.32 28 monthly payments of £21,867.19. One lump-sum payment of £20,000 in January 2016.

AARON MOKOENA

£288,844.80 40 months of £7,225.92.

DAVID NORRIS

£182,729.92 40 months of £4,568.26.

ARUNA DINDANE

£176,245.03 40 months of £4,406.13.

LUKE VARNEY

£153,818 40 months of £3,845.

ERIK HUSEKLEPP

£40,000 lump-sum payment of £20,000 in January 2014 and January 2015.

HASSAN YEBDA

£264,491.44 40 months of £6,612.29.

STEPHEN HENDERSON

£42,935.86 40 month of 1,073.40.

GREG HALFORD

£162,802.76 40 months of £4,070.07.

RICARDO ROCHA

£165,136.61 40 months of £4,128.40.

JAMIE ASHDOWN

£78,731.92 40 months of £1,968.30.

JASON PEARCE

£29,162.51 40 months of £729.06.

HERMANN HREIDARSSON

£42,935.86 40 months of £1,073.40.

KELVIN ETUHU

£3,000 one payment made on Aug 30, 2013.

JOEL WARD

£20,206.57 40 months of £505.16.

STEVE FINNAN

£88,312.50 40 months of £2,207.81.

MICHAEL BROWN

£472,375 lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £6,809.38.

RICHARD HUGHES

£372,484.42 lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £4,312.11.

LIAM LAWRENCE

£616,666.54 lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £10,416.67.

DAVE KITSON

£608,333.36 lump-sum payment of £150,000 on Aug 30, 2013. 40 months of £11,458.33.

TAL BEN HAIM

£1,633,333.36 lump-sum payments of £650,000 on Aug 30, 2013 and £150,000 on Aug 31, 2014. 40 months of £20,833.33.

*Kanu payment will be split in accordance with an Order of Finance Disciplinary Committee.

Paul, I think the point you've made regarding the Club business structure is a good one, not one I'd considered tbh. I guess however that it is the 'entity' and not the business per se that would be deamed to owe the football related debts. That being the case the web of companies are an irrelevance and they would still stand.

Looking down Portsmouth's list, Christ it's frightening. God only knows what our comparative list would look like!

As I've pledged my hard earned money to the Trust for love of BRFC, as have many others, there is not a cat in hell's chance I'd allow the proceeds pay off the likes of Portsmouth's list of mercenaries.

I'm wholeheartedly supportive but hopefully our eyes are well and truly open.

[J*B]

The reality is that the debts are now so high, and the club is in such a poor position, that the offers Venkys would receive wouldn't tempt them to sell. The obviously didn't come into this because the love football. They admitted that themselves. What others options are there? Either A) Because they have so much money that it quite literally won't even dent the surface to play with a football club. Or because they wanted to make some money from it.

I think we can remove A) on the basis that with the club now being in the championship, and they're not spending big to return to the premiership. (Yes you can argue Rhodes, but realistically that's been paid for by the Bank of India. It's not as if they have realised that last years approach of buy experienced players on high wages was a bad idea, and have instead bought a selection of good championship quality 3/4 million pound players. Instead Bowyer has been allowed to let people leave to save money, and sign a group of players on low/no fees.)

Which leaves But with the club not generating any money, and instead losing it, and with an already massive outlay on the purchase of the club, plus the debts it's accrued which we believe are in Venkys limiteds name, either the club folds or they continue to keep it.

What I'm essentially saying is they won't sell it.

[yoda]

You are of course completely correct however it is possible to come to arrangements as to how and when these debts are paid off. Faced with a choice of arranging a payment schedule or getting nothing most would agree to a schedule. Portsmouth is a good example. I think, stress think, Pompey went bust for £58-60m of which about £48m was owed to owners. If, again stress if, Rovers owe significant monies to VLL and / or Venkys the actual football debts which have to be settled could be relatively low. When the accounts are published it will be very interesting to try and tease out what is owed and to who.

Here is the schedule Pompey agreed with their players for unpaid wages:

DAVID NUGENT

£143,250 - 40 monthly payments of £3,581.25.

DAVID JAMES

£145,921.90 – 40 months of £3,648.05.

KANU

£155,314.50 – three lump-sum payments of £51,771.50 in March 2014, 2015 and 2016.

BENJANI

£214,572.73 – 40 months of £5,364.32.

HAYDEN MULLINS

£632,281.32 – 28 monthly payments of £21,867.19. One lump-sum payment of £20,000 in January 2016.

AARON MOKOENA

£288,844.80 – 40 months of £7,225.92.

DAVID NORRIS

£182,729.92 – 40 months of £4,568.26.

ARUNA DINDANE

£176,245.03 – 40 months of £4,406.13.

LUKE VARNEY

£153,818 – 40 months of £3,845.

ERIK HUSEKLEPP

£40,000 – lump-sum payment of £20,000 in January 2014 and January 2015.

HASSAN YEBDA

£264,491.44 – 40 months of £6,612.29.

STEPHEN HENDERSON

£42,935.86 – 40 month of 1,073.40.

GREG HALFORD

£162,802.76 – 40 months of £4,070.07.

RICARDO ROCHA

£165,136.61 – 40 months of £4,128.40.

JAMIE ASHDOWN

£78,731.92 – 40 months of £1,968.30.

JASON PEARCE

£29,162.51 – 40 months of £729.06.

HERMANN HREIDARSSON

£42,935.86 – 40 months of £1,073.40.

KELVIN ETUHU

£3,000 – one payment made on Aug 30, 2013.

JOEL WARD

£20,206.57 – 40 months of £505.16.

STEVE FINNAN

£88,312.50 – 40 months of £2,207.81.

MICHAEL BROWN

£472,375 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £6,809.38.

RICHARD HUGHES

£372,484.42 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £4,312.11.

LIAM LAWRENCE

£616,666.54 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £10,416.67.

DAVE KITSON

£608,333.36 – lump-sum payment of £150,000 on Aug 30, 2013. 40 months of £11,458.33.

TAL BEN HAIM

£1,633,333.36 – lump-sum payments of £650,000 on Aug 30, 2013 and £150,000 on Aug 31, 2014. 40 months of £20,833.33.

*Kanu payment will be split in accordance with an Order of Finance Disciplinary Committee.

I make that about £6.261 million of football related debt, (or 2 years agents fees in our case) if our football related debt was similar then there would be takers

[darrenrover]

I make that about £6.261 million of football related debt, (or 2 years agents fees in our case) if our football related debt was similar then there would be takers

On what basis?

Love the club as I do, I wouldn't be one.

They're part of my family and heritage but they're not a member.

[yoda]

On what basis?

Love the club as I do, I wouldn't be one.

They're part of my family and heritage but they're not a member.

Are you saying the club as it stands has no value at all, VLL have made a statement that the costs are going to be covered by them for the next 18 months was it.

I can only see 2 options for the Raos, keep funding or cut and run,

the cut and run is the interesting part, how to do it and keep face

both options cause severe pain for them

[OJRovers]

On what basis?

Love the club as I do, I wouldn't be one.

They're part of my family and heritage but they're not a member.

Someone could put £10m in for a season or two, get promoted and get their hands on £100m+ maybe 2x, 3x that if we stayed up for longer.

Given the unpredictability of the Championship, there would be takers for that bet.

[darrenrover]

Are you saying the club as it stands has no value at all, VLL have made a statement that the costs are going to be covered by them for the next 18 months was it.

I can only see 2 options for the Raos, keep funding or cut and run,

the cut and run is the interesting part, how to do it and keep face

In a true business sense, where the value is normally based on varying multiplying factors of historic, current and prospective profitability, what price could you put on BRFC?

The point I elude to is that we've been bloody fortunate for twenty odd years thanks to one man who had the courage, acumen and will to make a dream come true. I'm glad we all shared it. Unbelievable really and unlikely to be repeated. The fact his legacy has been flushed down the bog is criminal.

We're now talking Venkys and the past 3 years car crash, as a consequence of their own stupidity, without their continuing financial support I do not believe the club will survive.

IMO, unless there's some mega wealthy Russian oligarc or oil sheikh waiting in the wings who like our kit, the ONLY way forward is for Raos, The Trust and Seneca to engage in dialogue regarding the best way forward.

I wish!

Someone could put £10m in for a season or two, get promoted and get their hands on £100m+ maybe 2x, 3x that if we stayed up for longer.

Given the unpredictability of the Championship, there would be takers for that bet.

OJ, I know where you're coming from but £10 million wouldn't scratch the surface.

Unbelievable and immoral but unfortunately true.

[Paul]

Paul, I think the point you've made regarding the Club business structure is a good one, not one I'd considered tbh. I guess however that it is the 'entity' and not the business per se that would be deamed to owe the football related debts. That being the case the web of companies are an irrelevance and they would still stand.

Looking down Portsmouth's list, Christ it's frightening. God only knows what our comparative list would look like!

As I've pledged my hard earned money to the Trust for love of BRFC, as have many others, there is not a cat in hell's chance I'd allow the proceeds pay off the likes of Portsmouth's list of mercenaries.

I'm wholeheartedly supportive but hopefully our eyes are well and truly open.

Again I agree but, IF, VLL has loaned the cash to BRFC and the club is largely free of football debt by virtue of the money being owed to VLL there is a possibility the actual football related club debts could be lower than expected. It will all depend on how it's structured and I'm certainly only qualified to speculate rather than offer answers!

As for the Trust money and any significant funds raised to buy the club that is their purpose to BUY the club and not to pay debt. The detail of how debts would be paid is a matter of discussion once the debt is known, please do not interpret this as me in any way suggesting the Trust, would pay off debt. It looks to me as though Pompey have agreed with the players their wages, football debt, will be paid off over 40 months from earned income. Now none of us might like that scenario but it would be coming from earned income as opposed to money pledged by Trust members and supporters. For me that is a big difference.

Yes our eyes are well and truly open.

IMO, unless there's some mega wealthy Russian oligarc or oil sheikh waiting in the wings who like our kit, the ONLY way forward is for Raos, The Trust and Seneca to engage in dialogue regarding the best way forward.

Two of those three parties have already made the effort and remain open to the discussion - it's the Raos who are the problem

[darrenrover]

Again I agree but, IF, VLL has loaned the cash to BRFC and the club is largely free of football debt by virtue of the money being owed to VLL there is a possibility the actual football related club debts could be lower than expected. It will all depend on how it's structured and I'm certainly only qualified to speculate rather than offer answers!

As for the Trust money and any significant funds raised to buy the club that is their purpose to BUY the club and not to pay debt. The detail of how debts would be paid is a matter of discussion once the debt is known, please do not interpret this as me in any way suggesting the Trust, would pay off debt. It looks to me as though Pompey have agreed with the players their wages, football debt, will be paid off over 40 months from earned income. Now none of us might like that scenario but it would be coming from earned income as opposed to money pledged by Trust members and supporters. For me that is a big difference.

Yes our eyes are well and truly open.

Two of those three parties have already made the effort and remain open to the discussion - it's the Raos who are the problem

I know Paul

[yoda]

Again I agree but, IF, VLL has loaned the cash to BRFC and the club is largely free of football debt by virtue of the money being owed to VLL there is a possibility the actual football related club debts could be lower than expected. It will all depend on how it's structured and I'm certainly only qualified to speculate rather than offer answers!

As for the Trust money and any significant funds raised to buy the club that is their purpose to BUY the club and not to pay debt. The detail of how debts would be paid is a matter of discussion once the debt is known, please do not interpret this as me in any way suggesting the Trust, would pay off debt. It looks to me as though Pompey have agreed with the players their wages, football debt, will be paid off over 40 months from earned income. Now none of us might like that scenario but it would be coming from earned income as opposed to money pledged by Trust members and supporters. For me that is a big difference.

Yes our eyes are well and truly open.

Two of those three parties have already made the effort and remain open to the discussion - it's the Raos who are the problem

I know Paul

One of the big problems is that as fans on the outside looking in, it is very hard to fathom the thinking of the Raos, they also make this worse by not communicating their intentions clearly.

They are covering losses it seems at a high level, have a tendency to change managers at the wrong time, are unable to accept/admit responsibility for their past mistakes to the fans.

All in all they have no connection with the supporters, knowing the people of East Lancs, if they came out and said we have @#/? up but this is what we want to do to correct the situation and we need your support, I would be very surprised if the majority did not go along with it

[darrenrover]

One of the big problems is that as fans on the outside looking in, it is very hard to fathom the thinking of the Raos, they also make this worse by not communicating their intentions clearly.

They are covering losses it seems at a high level, have a tendency to change managers at the wrong time, are unable to accept/admit responsibility for their past mistakes to the fans.

All in all they have no connection with the supporters, knowing the people of East Lancs, if they came out and said we have keaned up but this is what we want to do to correct the situation and we need your support, I would be very surprised if the majority did not go along with it

I absolutely agree but it's clearly not in their savi unfortunately.

If they did communicate with anybody and stated their intentions and shared sensible hopes, aspirations or even concerns, then I believe it could be a whole lot different. It is common courtesy after all!

Faced with silence, one always assumes the worst and invariably create their own news.

[Majiball]

They can't even button a shirt and are confused when disaster strikes, they'll never learn to communicate effectively.

[darrenrover]

They can't even button a shirt and are confused when disaster strikes, they'll never learn to communicate effectively.

Maj, it's to be hoped that never say never may apply. I ain't holding my breath though unfortunately.

Being totally cryptic, there's an uplifting sutiem gorge for sale in Sarlat, left cup only, matching ribbon for pony tail, it's on offer for a tenner. Any takers?....

What a joke!

[Baz]

I make that about £6.261 million of football related debt, (or 2 years agents fees in our case) if our football related debt was similar then there would be takers

Thats Portsmouths debt to the players now, most having written off a lot of what they were originally owed, and many several seasons after leaving the club and being paid too.

The truth is, until the day they go, or we go under we wont know the final outcome, as they can shift debts around their businesses as they choose. In a weird way FFP may help us in that they may not be able to sink a lot of debt into the club before pulling out.