[Archived] Blackburn Rovers balance sheet

[tomphil]

The guy they were mainly talking about Pawar, did you see the comments underneath from a poster,

about his hidden assets etc, and if you added them all up he would be up - there with Bill Gates, Warren Buffet etc,

Someone told me ages ago that most wealthy Indians, don't ever let-on about their true wealth, I reckon the Rao

family could be far richer than a lot of people imagine, perhaps that's why Rovers' debts don't seem to worry them

too much, they certainly knock around with some high rollers.

Maybe we've been worrying for nowt.

Then again !!

Wealthy people who'll end up not very wealthy at all if they keep pouring 50/60 mill down the drain every 3 or 4 years Sooner or later the penny will drop with them, unless they have investors o board who need to get rid of spare cash as well !

[TBTF]

Wealthy people who'll end up not very wealthy at all if they keep pouring 50/60 mill down the drain every 3 or 4 years Sooner or later the penny will drop with them, unless they have investors o board who need to get rid of spare cash as well !

Problem is that yes they have been chucking cash at it and will need to provide an awful lot more especially with another Parachute drop at the end of this season.

The bigger question is whats in it for them under the FFP rules?

They arent allowed to throw money at it any more under FFP so if they are not allowed to improve the squad from where we are now then they will never see us back in the Prem and that is about the only way they could ever see any penny of return on their investemnt.

They really are between a rock and a hard place and i fear boredom isnt far away which would be a serious issue for us

[chaddyrovers]

1. These are Venkys London Limited accounts and not the Rovers football accounts. which are due at the end of the year and these accounts are from 1st July2012 to 30th June 2013. that info is from the Rovers fans forum. these accounts will be publish in dec 2013

FFP rules/sanctions going off the 2013/14 season accounts and not 12/13 season accounts. The pay-offs to Kean, Berg, Gomes, Murphy and I think Appleton plus both Appleton and Berg backroom staff will be on 12/13 accounts and more important not on the 13/14 accounts with FFP rules.

I'm sure that they will be a BRFCS podcast to discuss these accounts I guess at the weekend when other issues will be discuss aswell as the VLL accounts. Reckon PhilipL will be doing the podcast to give his view seems that he is experience in Accounts. I also think the LT will have a Football Financial expert to discuss the Finances this week. most probably Tom Cannon. He done it before for the LT.

[tomphil]

Yep you would think a very big decision has to be made at the end of this season. It's useless to them if they can't pour 'spare' cash into - if that's what they've been doing of course- I'd forgot about the FFP for a brief moment.

[West Yorks Rover]

Its far from healthy. Its asthmatic with diabetes

Nowt we can do about it though is there, so that's why I have stopped worrying.

The whole world is in a complete mess financially and it will come to a head one day soon, too many corrupt people in high places have been

creaming all the wealth,not enough jobs to go round,crap wages, no job security for the majority.

Revolutions and wars will become commonplace soon, not just in the Arab world either, kicking off big style in Greece again today, others in Europe will follow IMO.

So I think it's best just to go along for the ride on the Venky's Express, and remember things could be worse, we could have been born in Burnley.

[Rover_Shaun]

we could have been born in Burnley.

Sadly Blackburn bred will be a dying breed too thanks to the local NHS tust

[West Yorks Rover]

Sadly Blackburn bred will be a dying breed too thanks to the local NHS tust

I'd forgotten about that, sad indeed !

[Mr. E]

I hope to God they lose everything. I hope they go bankrupt in England, bankrupt in India and globally, I hope they lose their entire chicken slaughtering business. I hope they are forced to sell the shirts off their backs and end up on the streets, starving and cowering somewhere along the Ganges, hopeless and broken in every way imaginable.

Maybe then they will begin to understand what they have done to this club.

[G Somerset Rover]

How on earth would that help us though? That scenario equates to no more Blackburn Rovers Football Club.

[ABBEY]

I hope to God they lose everything. I hope they go bankrupt in England, bankrupt in India and globally, I hope they lose their entire chicken slaughtering business. I hope they are forced to sell the shirts off their backs and end up on the streets, starving and cowering somewhere along the Ganges, hopeless and broken in every way imaginable.

Maybe then they will begin to understand what they have done to this club.

Seconded .. Bed time now .

[rovers11]

The LT report that Venkys put in £25m of their own money into the club last season in the form of shares and do not want that money back.

This backs up my point yesterday that the club is being funded by venkys own money and not debt on the club.

[yoda]

How on earth would that help us though? That scenario equates to no more Blackburn Rovers Football Club.

The Trust!

[Sparky Marky]

This backs up my point yesterday that the club is being funded by venkys own money and not debt on the club.

Rubbish.

[yoda]

Rubbish.

where is the money coming from?

[Parsonblue]

The LT report that Venkys put in £25m of their own money into the club last season in the form of shares and do not want that money back.

This backs up my point yesterday that the club is being funded by venkys own money and not debt on the club.

Do you seriously believe that these people - who have no connection with the club or town - are going to continue pouring money into the club? Do you honestly believe that when they walk away they won't want a return on their investment? Personally, I think these figures reveal that the club's future is hanging by a thread and that we exist at the whim of a family on the other side of the world who have little or no interest in the football club as such. Sadly, we are now in a position were we are relying on them to keep the club going.

[yoda]

Do you seriously believe that these people - who have no connection with the club or town - are going to continue pouring money into the club? Do you honestly believe that when they walk away they won't want a return on their investment? Personally, I think these figures reveal that the club's future is hanging by a thread and that we exist at the whim of a family on the other side of the world who have little or no interest in the football club as such. Sadly, we are now in a position were we are relying on them to keep the club going.

It looks like the Bank of India has done the club a favour by not allowing the Raos to use the club as security

[den]

http://www.lancashiretelegraph.co.uk/sport/football/blackburn_rovers/news/10684592.Wall_of_silence_greets___27m_loss/

http://www.lancashiretelegraph.co.uk/sport/football/blackburn_rovers/news/10684593.Rovers_Trust_concerned_by_figures/

[Ozz]

The LT report that Venkys put in £25m of their own money into the club last season in the form of shares and do not want that money back.

This backs up my point yesterday that the club is being funded by venkys own money and not debt on the club.

Jesus Christ man!

The reason they are putting money in is because they have to to avoid becoming insolvent. There are no real (player) assets left to sell to balance the books, which is what they did before. The money is to cover the losses of their own making. The question remains-what happens when they decide to stop?

The accounts show the KPMG only quantify BRF&A Club as a going concern on this basis.

[den]

Jesus Christ man!

The reason they are putting money in is because they have to to avoid becoming insolvent. There are no real (player) assets left to sell to balance the books, which is what they did before. The money is to cover the losses of their own making. The question remains-what happens when they decide to stop?

The accounts show the KPMG only quantify BRF&A Club as a going concern on this basis.

And the question remains - where do we go from here. How do we turn around a trading loss of £27m? To be fair some of that loss was a one off, manager pay offs came in at £2.8m and the wage bill is likely lower now than it was 12 months previous to those results, - but £27m to turn around?

Venky's have put in £25m of their own cash and they say they don't want it back. Well........ Not sure about that. They certainly didn't come here with the intentions of putting that kind of cash in and I doubt they will want to put in another penny. It would be nice if someone could dissect those accounts with a little more insight to the full story.

One question that the trust might have to answer at some point Ozzie, is that at least we know now that Venky's do have access to capital that might be needed to keep the club trading if the worst comes to the worst. What would be the trusts situation as regards being able to access funds? There is no guarantee of that at all, is there? Not a dig Ozzie, just a question that might be on some fans minds.

[tomphil]

The LT report that Venkys put in £25m of their own money into the club last season in the form of shares and do not want that money back.

This backs up my point yesterday that the club is being funded by venkys own money and not debt on the club.

If their intention was to invest why didn't they put that money in when they first bought the club ? Why didn't they clear the first origional debt instead of moving it around ? Don't forget they've sanctioned the sale of about 40 mill worth of players. They've HAD to put that in after relegation to stop us going bust, no other reason. Are we supposed to be greatfull to them for putting that money in to stop us going to admin when it's they who created that situation in the first place. Also that money doesn't mean there still isn't a huge debt somewhere such have been the losses since they,ve taken over.

[jim mk2]

All this speculation could be prevented and fans' fears for the future of the club eased if the owners communicated with supporters properly.

It would not taker much for them to spell out in clear terms how the debt has been accrued, how they intend to deal with the debt in the long term, how it affects the future running of the club and how they intend to fund the club in the years ahead. As always with Venkys, instead all we have is silence.

[Leonard Venkhater]

If their intention was to invest why didn't they put that money in when they first bought the club ? Why didn't they clear the first origional debt instead of moving it around ? Don't forget they've sanctioned the sale of about 40 mill worth of players. They've HAD to put that in after relegation to stop us going bust, no other reason. Are we supposed to be greatfull to them for putting that money in to stop us going to admin when it's they who created that situation in the first place. Also that money doesn't mean there still isn't a huge debt somewhere such have been the losses since they,ve taken over.

Exactly. Don't expect me to be thankful for their altruism. Oh, what a fraction of this money could have achieved 2/3 years ago with a little more sense and less arrogance.

[perthblue02]

The LT report that Venkys put in £25m of their own money into the club last season in the form of shares and do not want that money back.

This backs up my point yesterday that the club is being funded by venkys own money and not debt on the club.

Think one has to wonder why they are quite happy to shell out the money for

pay offs for non disclosure's , happily accepting 2 million loss from a rogue still employed MD , easy money given to just like family members (fully FA approved of course) and their associates , Gifting 1.5 million to a drunk who "resigned" in a out of court settlement after giving him an improved contract for his second attempt at getting relegated .

The suspicious side of me would point to trying to hide something. Could also explain the reluctance to sell, after all a "reputable " business like their's needs to be squeaky clean and perhaps they wouldn't want any potential purchaser digging into the activities before during and after the takeover would they, Whether they are a duped innocent party or in part a willing accomplice wouldn't look good if things took place that were possibly unethical or downright corrupt would it.

And yet they are quite happy to be seen as an easy touch bunch of simpletons with more money than sense, makes you wonder doesn't it.

[McClarky]

All this shows that the club is s till a total basket case haemoraging money left right and centre with no intention of organising itself properly or communicating with it's customers properly. That is why I didn't buy an ST this season and why I am relieved that I didn't.

[Speedie Dived]

Your argument rests on whether venkys stick around or not. We can all debate this until we are blue in the face but the simple fact remains that if venkys decide to up and leave then we are in big trouble. If they stay then we'll be covered by their money.

If they want to put the money in next year or not is totally irrelevant. Simply, if we lose over £3 million next year then we will be facing a transfer embargo. They could put a billion in and we could do nothing with it.