[Archived] Blackburn Rovers balance sheet

[DE.]

It would be nice to have the situation explained clearly to the fans. They could win back just a tiny bit of credibility if they did.

Sadly den no chance of this happening. We all know they think of the fans as dirt beneath their feet. The best we'll get is a "trust us, we're dealing with it. Rovers is our baby, we love you all", etc etc. Pathetic, patronising guff that's been their staple ever since they made themselves known to us.

[tomphil]

Two things (I may be barking up the wrong tree):

1. 'Last year', so that's between about a dozen severance packages, deadwood wages and agent fees. LAST year. Doubt this year it will be half that figure if Venkys simply leave the current people to do their jobs.

2. If it's Venkys London Ltd, disregard the above as it's nowt to do with us in terms of footy. Surely like bet365 going under wouldn't affect FFP from Stoke's POV?

If I've misunderstood I apologise.

As far as i know it Venkys London a parent company and the only thing it's a parent of is BRFC. So everything to do with us i would think.

[Paul]

Two things (I may be barking up the wrong tree):

1. 'Last year', so that's between about a dozen severance packages, deadwood wages and agent fees. LAST year. Doubt this year it will be half that figure if Venkys simply leave the current people to do their jobs.

2. If it's Venkys London Ltd, disregard the above as it's nowt to do with us in terms of footy. Surely like bet365 going under wouldn't affect FFP from Stoke's POV?

If I've misunderstood I apologise.

VLL own 100% of BRFC and nothing else. It's a holding company. VLL year end is March and BRFC is June. These accounts partly reflect Rovers financial position to end June 2013.

[DavidMailsTightPerm]

VLL own 100% of BRFC and nothing else. It's a holding company. VLL year end is March and BRFC is June. These accounts partly reflect Rovers financial position to end June 2013.

Is it possible the accounts are loaded to take losses earlier - i.e. paying off big earners - to get around FFP for one season.

[tomphil]

Apparently a few unexplained shares and loans on the accounts according to twitter. Seems Rovers might not be the only thing attached to VLL ?

[darrenrover]

Is Twitter the new age Grant Thornton or Peat Marwick McLintock?

FFS did anyone have an issue when we couldn't pay the milkman or the rent for a terraced house on Nuttall Street?

We know we're haemorrhaging cash, we know the reasons why, we know who's picking up the tab and we know we're making progress in trying to rectify matters.

We lost tonight but nobody can dispute we're making progress.

Out of curiosity Tomphil, who did KPMG tweet who VLL's additional shareholders were? Not knocking The Trust in any way but could have been their 0.000001 % stake perhaps?

[West Yorks Rover]

I stopped worrying about it ages ago, nothing we can do about it, and for all we know Venky's are quite happy to keep us for many years to come.

Maybe the rumour about the vault full of gold under the house is true, who knows ?

Many wealthy Indians started buying gold at the time of the ' Global Downturn ' I believe.

[tomphil]

Is Twitter the new age Grant Thornton or Peat Marwick McLintock?

FFS did anyone have an issue when we couldn't pay the milkman or the rent for a terraced house on Nuttall Street?

We know we're haemorrhaging cash, we know the reasons why, we know who's picking up the tab and we know we're making progress in trying to rectify matters.

We lost tonight but nobody can dispute we're making progress.

Out of curiosity Tomphil, who did KPMG tweet who VLL's additional shareholders were? Not knocking The Trust in any way but could have been their 0.000001 % stake perhaps?

Don't shoot the messenger ! Out of courtesy i didn't mention any names but it was someone who's seen the accounts and was giving a brief breakdown of them. thought someone on here might be able to expand on them a bit, it is a messageboard after all. Some find it interesting and there is actually some good info to be gathered from the right places on twitter.

[darrenrover]

Don't shoot the messenger ! Out of courtesy i didn't mention any names but it was someone who's seen the accounts and was giving a brief breakdown of them. thought someone on here might be able to expand on them a bit, it is a messageboard after all. Some find it interesting and there is actually some good info to be gathered from the right places on twitter.

Well come on then, no names or pactarol required, let us know the information and I'm certain that there will be a number of suitably qualified individuals on here who may be able to expand on the information provided. As you rightly say, it is a messageboard after all, so let's share the gathered information and disseminate it. Over to you........

If you're not prepared to do that then I would respectfully suggest you keep your gob shut rather than post potentially unsubstantiated and inflammatory messages.

COYB!

[tomphil]

Well come on then, no names or pactarol required, let us know the information and I'm certain that there will be a number of suitably qualified individuals on here who may be able to expand on the information provided. As you rightly say, it is a messageboard after all, so let's share the gathered information and disseminate it. Over to you........

If you're not prepared to do that then I would respectfully suggest you keep your gob shut rather than post potentially unsubstantiated and inflammatory messages.

COYB!

What the kean are you on about ? You aren't supposed to be interested but if you are why not look into it yourself then you can throw the rest of your toys out the pram. Sounds like you need a strong coffee mate because you've got the wrong end of the stick as far as im concrened. I'll post what the kean i want as long as it's within the boards rules so keep your fecking beak out. Im interested in the financial side of the club but im in no way connected to the Trust / Action group/ Mullen or anyone else that may be wizzing around inside your nut.

[darrenrover]

What the kean are you on about ? You aren't supposed to be interested but if you are why not look into it yourself then you can throw the rest of your toys out the pram. Sounds like you need a strong coffee mate because you've got the wrong end of the stick as far as im concrened. I'll post what the kean i want as long as it's within the boards rules so keep your fecking beak out. Im interested in the financial side of the club but im in no way connected to the Trust / Action group/ Mullen or anyone else that may be wizzing around inside your nut.

Enough said I guess, cart on.

I rest my case.

[tomphil]

Enough said I guess, cart on.

I rest my case.

There was no case to answer. We've got cossed wires somewhere as i was only repeating what had been said by someone who's read the accounts, nothing inflammatory. They'll be avail to read soon im sure. then we can decipher the 3 mill investment in Hitlab by VLL etc.

Goodnight.

[darrenrover]

There was no case to answer. We've got cossed wires somewhere as i was only repeating what had been said by someone who's read the accounts, nothing inflammatory. They'll be avail to read soon im sure. then we can decipher the 3 mill investment in Hitlab by VLL etc.

Goodnight.

If that's correct, an investment in Hitlab would be one of Venky's better investments, certainly forward thinking and not to the detriment of the club. Unlike so many others over the past couple of years or so.

I also stand by what I previously said with regards to your postings and totally unsolicited from myself, you then spilled your guts without much substance and coraborated my suspicions.

Anyway, I've just had a large Armagnac and bid you goodnight also out of courtesy. i'll keep my thoughts to myself in the meantime.

I'll save the strong coffee for the morning!

(Are you Saxo in disguise?)

[perthblue02]

The hitlab story has been knocking about for a while http://in.reuters.com/article/2011/04/07/idINIndia-56189220110407 http://businessofcinema.com/music/venkys-enters-strategic-alliance-with-akons-hitlabcom/33044

One of balaji's "superstar" buddies Akon is involved in it, and we know Balaji is generous to his mates ask Jerome.

Be interesting to see if any returns from the Hitlab investment find their way to subsidise Rovers running costs

[RevidgeBlue]

It's been predicted for a while that we were heading for these sort of losses, as I've said all along as long as Venky's are prepared to fund any losses incurred as a result of their ownership and are prepared to continue to fund the Club as necessary going forward, the amount of the losses are no-one else's concern.

We do seem to be operating much more frugally now so maybe some extremely expensive lessons have finally been learnt.

[broadsword]

Why would an Indian poultry company be willing to tolerate multi-million pound losses from a satellite company year after year after year?

Either they are stubborn beyond belief, feel that they are getting intangible benefits from owning us that outweigh the drawbacks or will fund these losses by flogging off everything that isn't nailed-down.

Either way, it doesn't make any sense.

PS: WTF is Pactorol?

[CapeTownRover]

We were bound to rack up these costs, over a specific financial year for Rovers. I would assume that these losses were due to paying off that idiot, the other idiots and everybody else who needed paying off. Then there is wages, and all other expenses like player purchases and day to day expenses. I think the best way would be to ensure that we have some sort of budget in place going forward, and work from there. Ie 20mill for player purchase, salaries of players and staff etc. Knowing and working within a budget is exactly what we need, instead of just going crazy with spending money. Maybe it doesn't work like that in football, as in a normal business environment, but the club would do well to have a budget in place, and to stick to it. We should in theory also have a provision account in place, in order to offset any contracts and so on that needs to be terminated early.

[G Somerset Rover]

Why would an Indian poultry company be willing to tolerate multi-million pound losses from a satellite company year after year after year?

Either they are stubborn beyond belief, feel that they are getting intangible benefits from owning us that outweigh the drawbacks or will fund these losses by flogging off everything that isn't nailed-down.

Either way, it doesn't make any sense.

PS: WTF is Pactorol?

Or for some reason they are unable to legally dispose of us? Who knows, but as you say, none of it makes sense.

[McClarky]

Presuming this years losses won't be that much short of last years. We got rid of some high earners but brought in a lot of new players and are still paying players off and paying people to be out on loan. With the chances of promotion being pretty low that could be a £50M loss over 2 years with £10M less incoming next yuear because of the fall of the PP. A gloomy picture indeed with no way you can see it getting any better under the current regime.

I think we need someone who knows about these things to explain what losses at VLL mean to BRFC. Does this translate to debt against the club or does VLL bear the loss? If it's debt then we'll soon become insolvent won't we?

[MrT]

totally expected, 2m per month losses plus the 3m hitlab investment

under the Walker trust we were losing between 1.5m-3m p/a, under the venkys we've lost 18.6m and 27m

wonder how the Asian betting market is these days..

[den]

It's been predicted for a while that we were heading for these sort of losses, as I've said all along as long as Venky's are prepared to fund any losses incurred as a result of their ownership and are prepared to continue to fund the Club as necessary going forward, the amount of the losses are no-one else's concern.

We do seem to be operating much more frugally now so maybe some extremely expensive lessons have finally been learnt.

It has to be a concern Rev, for the simple matter this can't go on. Still many questions answered, including how much exactly is the total club debt and how do Venky's aim to turn these enormous losses around?

[Rover_Shaun]

Some are saying it's "only" Venkys London and not Rovers

[eire3382]

I know nothing about accounts but it seems to me alot of things happened this year which hopefully were a one off.

All teh managers had to be paid off, several players were bought and put on very big wages, then they were paid off.

Loads of deadwood was released and again all paid off.

Am I being silly in thinking that maybe just maybe the 12 months just past will not be the same as the 12 months ahead?

The wage bill is down and we haven't spent big on signings.

[rovers11]

Completed expected and the balance sheet has come as a surprise to no one. There is no way we can meet the FFP so I expect us to be 'creative' with our income.

At least the owners seem serious about getting us back to the premier league and are willing to pump serious money in to achieve that. They have wasted a lot though.

[den]

At least the owners seem serious about getting us back to the premier league and are willing to pump serious money in to achieve that. They have wasted a lot though.

£27m+ loss over one year can't be turned around overnight. So expecting them to pump serious money in for a promotion push seems a little optimistic to me. Let's not kid ourselves, there figures would worry the most flamboyant of football chairmen.