[Archived] Blackburn Rovers balance sheet

[Leonard Venkhater]

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.

I have been trying to stay away from conspiracy stuff, but I have to be honest and say this has more than crossed my mind.

Why would anyone with no connection to the town or the club we love pour so much money into it?

Venky's perpetual silence and lack of leadership creates the perfect breeding ground for genuine suspicion as well as all the grassy knoll stuff..Hard not to be concerned!

[Ozz]

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.

The problem is the value of the club is unknown. Certainly not what they paid for it now. It is confused until the owners stand up and say Club For Sale, here are the Ts and Cs (They might say for example a low fixed price but with debt liabilities passed on etc, which there precedents for in English Football already)

Since BRSIT launched at KGH, around £3.2M has been soft pledged. We work on the basis that this remains, although in practical terms that could be less now. We have come a long way since then, and have stated in the past that we would be happy to work with another party if the phone call came one morning that the club was up for sale. You may remember the talks with the Seneca Group for example.

Until the day comes, and It will be sooner rather than later I think, we have no idea what it will take. In the meantime, The Trust continues to grow, seeking out more business partners, commercial opportunities and preparing every last detail for the time when the chance arrives for us to be a preferred bidder. To do this we need the continuing support of the fans, and membership is crucial to that. The greater our numbers, the greater our chance of being the next full or part owners of the club are.

You can join here

[TBTF]

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.

And thats excatly my point too Speeds. The overhead is still massive even now so as we stand we are probably still maintaining our run rate of losses of £2m a month..God alone knows what went on financially between March when these accounts were done and now.So what we see here is the tip of the iceberg and it even says in the accounts by KPMG that the venkys still have to put substantial money in for the forseeable future just to keep the club as a going concern.

The big question as you righly identify is.. Under FFP restrictions , whats the point?? As you say they could have a billion to put in but because our turnover is jack all that limits what we are allowed to spend on the squad' s wages and the limit we are allowed to lose in any one year.

Looking at this there is massive massive adjustments still to be made just to get us near conforming with FFP. If we dont then you are right , we will have transfer embargo on us.

So having spent and blown a fortune on this tiny little club the news is that you need to carry on doing it Venkys for the forseeable future.The only way out is to get into the PL but now that you cant spend a penny to get us there (ie you can only cover the losses) what is the point of it?

If the penny drops that they are now sat on a money pit that keeps devouring their money with no hope of ever getting out of it then why are they still doing it? The dream of being Indias Premier league Club is well and truly gone never to return.

Are we seriously asked to believe that they will do this indefinitely now that the glamour , such that it ever was at Rovers , has gone? If we read it right, its the flaky Balaji that likes this football thing.Not hard to see him becoming attracted to something else in due course.

I fear boredom and disinterest in the face of continuing to have to throw good money after bad will bring them to a realisation sooner rather than later and that is nightmare time.

Oh and the parachute money drops in half at the end of this season. Under FFP, in view of our income/turnover our budget will be lucky to be £10million-a mere £30million below where it is now.

Feckin hell this is scary stuff indeed.

[Andy]

It's ok having £3m in 'promises' Ozz, but in reality I think you're well aware that it would be nowhere near that amount.

[EgyptianPete]

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.

Bloody hell keep taking those bitter pills wont you.

[Ozz]

Are we seriously asked to believe that they will do this indefinitely now that the glamour , such that it ever was at Rovers , has gone? If we read it right, its the flaky Balaji that likes this football thing.Not hard to see him becoming attracted to something else in due course.

Like the Hitlab £3m investment for example.

[Amo]

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.

I want them DEAD! I want their family DEAD! I want their house burned to the GROUND!

[Ozz]

It's ok having £3m in 'promises' Ozz, but in reality I think you're well aware that it would be nowhere near that amount.

You may well be right. In which case all the more reason for all of us to get behind the Trust. That doesn`t mean making a pledge necessarily, just by joining as a member would be helping considerably. If a potential partner to buy the club see the Trust with say (for example) 5,000 paid up members, they are more likely to be encouraged to work with us. It would validate our mandate to represent the fans and the local community much more.

[TBTF]

The problem is the value of the club is unknown. Certainly not what they paid for it now. It is confused until the owners stand up and say Club For Sale, here are the Ts and Cs (They might say for example a low fixed price but with debt liabilities passed on etc, which there precedents for in English Football already)

Since BRSIT launched at KGH, around £3.2M has been soft pledged. We work on the basis that this remains, although in practical terms that could be less now. We have come a long way since then, and have stated in the past that we would be happy to work with another party if the phone call came one morning that the club was up for sale. You may remember the talks with the Seneca Group for example.

Until the day comes, and It will be sooner rather than later I think, we have no idea what it will take. In the meantime, The Trust continues to grow, seeking out more business partners, commercial opportunities and preparing every last detail for the time when the chance arrives for us to be a preferred bidder. To do this we need the continuing support of the fans, and membership is crucial to that. The greater our numbers, the greater our chance of being the next full or part owners of the club are.

You can join here

Did you meet the Seneca Group, Ozz and how did they seem ? Are you still talking to them and are you saying there might be a role for both the Trust and them?

Reason i ask is i think that might be the best any of us can hope for though the numbers may still be quite frightening

[AndyC]

wish people would stop banging on about how they are pumping money into the club. the debt is just getting bigger.

they have managed to totally asset strip the club of:

phil jones - 20 M

samba - 12M

Nzonzi - 4M

kalanik - 5M

hoiilet - 4M

total - £45M worth of premier league talent

[Ozz]

Did you meet the Seneca Group, Ozz and how did they seem ? Are you still talking to them and are you saying there might be a role for both the Trust and them?

Reason i ask is i think that might be the best any of us can hope for though the numbers may still be quite frightening

I cannot really comment on what has or has not been said between Seneca and The Trust. I can tell you that Ian Battersby is a very passionate and committed Rovers fan though!

It is public knowledge that they were working on a proposition. We would be happy to discuss our aims with them further.

[TBTF]

I cannot really comment on what has or has not been said between Seneca and The Trust. I can tell you that Ian Battersby is a very passionate and committed Rovers fan though!

It is public knowledge that they were working on a proposition. We would be happy to discuss our aims with them further.

Thanks Ozz -at least some hope to cling to maybe then if the proverbial does hit the fan.

[Plastic Head]

I reckon they have an exit strategy and that will be administration, then they don't have the embarrassment of having to give the club away for nowt (more than its current worth probably).

The significant drop in income at the end of this season should be the trigger. The playing staff we have do have value, I estimate £20M max, but there is no way they will cover this loss again after this seson with absolutely no prospect of any return on their cash

There is a model that will work for Rovers but it is not this one and will not be with this ownership.

If I was owed money by Rovers or was about to go into a contract with them without getting cash up front I would be very careful.

No point the trust making offers to buy from Venkys when the Admins will sell it to them for 10 bob.

[RevidgeBlue]

Thanks Ozz -at least some hope to cling to maybe then if the proverbial does hit the fan.

If the proverbial hits the fan, there is no hope.

Confirmation of the 27m losses merely goes to show how unrealistic the concept of Trust ownership is.

The only hope is that Venky's continue bailing us out and refuse to let us fail out of principle or pride until such time as they finally get it right or sell to alternative suitably wealthy backers.

[RibbleValleyRover]

My gut feeling is that if Rovers don't get promoted this season Bowyer will be sacked. Look at the financial burden Rovers is at the moment to them, the club needs promotion and the vast financial benefits of achieving that.

[roversR4ever]

It simply comes down to whether they want to keep putting money in. If they do and want to fund the club to promotion they will try. I maybe cynical but there will be ways found to get round ffp. Just as there always will be ways found to avoid tax etc.

Whether they wish to spend their money is a different matter.

[McClarky]

We aren't going to get promoted this or any other season unless the club is sorted out from top to bottom. Doesn't matter how much cash they throw at it.

[den]

The problem is the value of the club is unknown. Certainly not what they paid for it now. It is confused until the owners stand up and say Club For Sale, here are the Ts and Cs (They might say for example a low fixed price but with debt liabilities passed on etc, which there precedents for in English Football already)

Since BRSIT launched at KGH, around £3.2M has been soft pledged. We work on the basis that this remains, although in practical terms that could be less now. We have come a long way since then, and have stated in the past that we would be happy to work with another party if the phone call came one morning that the club was up for sale. You may remember the talks with the Seneca Group for example.

Until the day comes, and It will be sooner rather than later I think, we have no idea what it will take. In the meantime, The Trust continues to grow, seeking out more business partners, commercial opportunities and preparing every last detail for the time when the chance arrives for us to be a preferred bidder. To do this we need the continuing support of the fans, and membership is crucial to that. The greater our numbers, the greater our chance of being the next full or part owners of the club are.

You can join here

Thanks for replying Ozz.

If the Raos were to pack it all in, then some kind of link up between Seneca and the trust could be quite attractive to many fans, but only if that link up had real substance and real finance behind it. But you already know that, don't you.

[tomphil]

If the proverbial hits the fan, there is no hope.

Confirmation of the 27m losses merely goes to show how unrealistic the concept of Trust ownership is.

The only hope is that Venky's continue bailing us out and refuse to let us fail out of principle or pride until such time as they finally get it right or sell to alternative suitably wealthy backers.

Yes will always be loss making but those losses are so huge mainly because of Venkys and their trusted aides stupid/self serving antics, oh and the knock on effects of relegation because of said antics. Your probably right about the concept of sole Trust ownership but not if they were joint with a backer.

[darrenrover]

Yes will always be loss making but those losses are so huge mainly because of Venkys and their trusted aides stupid/self serving antics, oh and the knock on effects of relegation because of said antics. Your probably right about the concept of sole Trust ownership but not if they were joint with a backer.

Just out of interest, what do you consider the annual costs and budget associated with a Championship club with aspirations for promotion to the Premier League would equate to? Let's assume there are no interest or capital repayments to be made from a previous legacy (chance would be a fine thing). It's solely running costs and an operational budget.

Bear in mind FFP and to be sustainable, needs an income stream to match.........then draw your conclusions.

Not a test by the way but perhaps a reality check.

[TBTF]

It simply comes down to whether they want to keep putting money in. If they do and want to fund the club to promotion they will try. I maybe cynical but there will be ways found to get round ffp. Just as there always will be ways found to avoid tax etc.

Whether they wish to spend their money is a different matter.

Ok but picture the scenario we currently have. Owners blowing their brains chucking a couple of million a month in for the forseeable future.The club is still heavily loss making and has been for quite some time.The only way out of this is to get back to the TV riches of the PL.

The dilemma is that under FFP you cant just spend what you want so the prospect of just funding past and present losses and not spending on your squad is a bit of a nightmare for Venkys.

Is the answer to your quest for promotion to sign Marrow, Judge , Taylor, Kane on Loan, Evans, Cairney, Kilgallon, ,Marshall etc> It doesnt make sense. Surely if they were going to spend big to get promoted being the uber wealthy people we are asked to beleive they would have already wiped the debt away and spent on marquee signings to ensure that we get up this year and before the parachute drops again at the end of the season.

The strategy assuming there is one just doesnt make sense.What is the motivation for them to still be here forking out on a basket case each month with no chance of promotion??

[Speedie Dived]

My gut feeling is that if Rovers don't get promoted this season Bowyer will be sacked. Look at the financial burden Rovers is at the moment to them, the club needs promotion and the vast financial benefits of achieving that.

Bowyer will be sacked by Christmas if we are not in the running for promotion, and considering their previous eagerness to pull the trigger, that is being generous.

[Ben-2000]

Are the muppets due at the game on Saturday?

[bob fleming]

Northern Rover ‏@Northern_Rover 35m

Bala chilling. Deary me, is that meant to look cool? pic.twitter.com/0tkWZPSMzY

May as well put this here. Always thought Balaji was a right tit? Well here's his left one.

[Rover_Shaun]

Ok but picture the scenario we currently have. Owners blowing their brains chucking a couple of million a month in for the forseeable future.The club is still heavily loss making and has been for quite some time.The only way out of this is to get back to the TV riches of the PL.

The dilemma is that under FFP you cant just spend what you want so the prospect of just funding past and present losses and not spending on your squad is a bit of a nightmare for Venkys.

Is the answer to your quest for promotion to sign Marrow, Judge , Taylor, Kane on Loan, Evans, Cairney, Kilgallon, ,Marshall etc> It doesnt make sense. Surely if they were going to spend big to get promoted being the uber wealthy people we are asked to beleive they would have already wiped the debt away and spent on marquee signings to ensure that we get up this year and before the parachute drops again at the end of the season.

The strategy assuming there is one just doesnt make sense.What is the motivation for them to still be here forking out on a basket case each month with no chance of promotion??

There is no logic to it. The signings scream of stagnation