[Archived] Rovers £54.5m in debt.

[den]

I can only imagine this has been missed due to it being match day.

http://www.bbc.co.uk/sport/0/football/24787872?

[T.J.Newton]

or maybe its just old/regurgitated news

[LDRover]

And still they won't sell. One has to wonder why???

[Stuart]

What is Rovers debt secured against?

What happened to Indian loans not being able to be taken out against UK assets?

Apart from competence, how does Rovers situation differ from Bolton's?

Just how much debt are Venkys prepared to take on before they say "enough's enough"?

Frightening.

[mark1875]

The Accounts can be viewed here

[philipl]

Reading between the lines in the Going concern note, my interpretation is it basically says the club will be completely gutted next summer if we don't go up.

[Stuart]

Déjà vu

[OJRovers]

Different to Bolton in that their debt is to the owner, Rovers debt is to the bank.

Yet there are are still those saying we need venkys!

[mark1875]

Different to Bolton in that their debt is to the owner, Rovers debt is to the bank.

Yet there are are still those saying we need venkys!

£13.5m is to the bank.

£36,125,000 is to our parent undertaking.

[Stuart]

Different to Bolton in that their debt is to the owner, Rovers debt is to the bank.

Again, what collateral have Rovers used to take out a loan with an Indian bank?

Surely Venkys have taken out a loan and Rovers are in debt to Venkys?

[FGS5635]

I remember seeing the contract of sale when venkys bought and I am sure I read in there that rovers own quite of bit of land that's worth a few mil. Not sure if we still own that, but maybe some of the loan is secured against things like that

[miqaayil]

I believe the loan is secured under the properties owned by rovers ; and under a high interest ...

[Leonard Venkhater]

I remember seeing the contract of sale when venkys bought and I am sure I read in there that rovers own quite of bit of land that's worth a few mil. Not sure if we still own that, but maybe some of the loan is secured against things like that

I am fairly sure that an accountant in one of the podcasts said the loan was secured against Barry White's Indian land...I remember people on the podcast expressing some relief that it wasn't Brockhall etc?

Who knows, I could wake up from this nightmare tomorrow, only to find that it is secured against my own property!

[John]

Out of interest, how do we compare financially comparatively with others clubs in the Championship & PL (in terms of levels of debt & losses).

[SIMON GARNERS 194]

It's a very serious situation were the debt will surely only further accrue in the coming season's.A noose around our neck for a club with our limited resources.

So we are led to believe Mr bling has secured loans against his own family land?...don't trust this lot to run a papershop

[broadsword]

Wages to turnover is an eye-watering 136%.

That's quite difficult to take in.

The club's a busted flush. It presumably cannot service its debts at all because wages are in excess of income. With no immediate prospect of an increase in income (please refer to league table), and in fact with income due to drop further after this season, we're just absolutely shafted.

Unless there is a sale and someone who can re-structure finances and provide fresh money, I cannot see how administration (liquidation?) can be avoided. Perhaps Venky's will pledge more assets, but they'd be absolute morons to do that.

Oh.

[TBTF]

Wages to turnover is an eye-watering 136%.

That's quite difficult to take in.

The club's a busted flush. It presumably cannot service its debts at all because wages are in excess of income. With no immediate prospect of an increase in income (please refer to league table), and in fact with income due to drop further after this season, we're just absolutely shafted.

Unless there is a sale and someone who can re-structure finances and provide fresh money, I cannot see how administration (liquidation?) can be avoided. Perhaps Venky's will pledge more assets, but they'd be absolute morons to do that.

Oh.

Somebody was talking on the concourse about the 2 ians giving their up to date statement on where they are up to in a big piece in the LT last week.I was trying to earwig the conversation but as i am not from this area and only come for games have i missed something?

Strange it has barely had any mention on here and i couldnt find anything on line with the LT.

Any clues folks?????

[Gav]

I think any serious investors will be waiting for the club to go into administration before attempting to take over the reigns.

Why would anyone pay xx millions for a club that's looking increasing likely to go bust at any time.

[Proudtobeblue&white]

I think any serious investors will be waiting for the club to go into administration before attempting to take over the reigns.

Why would anyone pay xx millions for a club that's looking increasing likely to go bust at any time.

Good point, but the shroud of secrecy means anyone with any sense cannot get a semblance of anything from Loonland. So we are, in the words of , Dermot O'Leary, deadlock!

[den]

I think any serious investors will be waiting for the club to go into administration before attempting to take over the reigns.

Why would anyone pay xx millions for a club that's looking increasing likely to go bust at any time.

That's how I see it Gav.

The £54.5m debt must be more than that now? ............£60m+?

[Waggy76]

Bring on administration and let us start again in the Conference without , these idiots ..

All the debt is self inflicted ...

In the name of god , go !

[FGS5635]

Bring on administration and let us start again in the Conference without , these idiots ..

All the debt is self inflicted ...

In the name of god , go !

Why start in the conference?

[Gav]

That's how I see it Gav.

The £54.5m debt must be more than that now? ............£60m+?

Yes and growing by the week, what exactly are the confused ones on Pune looking to achieve?

A spiralling debt, no chance of promotion and reputation in tatters? Why are they sticking around? Next years sky money? (Idiots if so)

Bring on administration and let us start again in the Conference without , these idiots ..

All the debt is self inflicted ...

In the name of god , go !

Absolutely

[den]

Yes and growing by the week, what exactly are the confused ones on Pune looking to achieve?

A spiralling debt, no chance of promotion and reputation in tatters? Why are they sticking around?

The only way out for them is promotion or administration, - just as you said. No one would buy us and take on the debt.

[DE.]

I love this quote from Shelfy in the article: ""We can't keep these type of losses up. It is very, very difficult," said managing director Derek Shaw."

You don't say you keaning idiot.

"Although promotion remains the key aim, achieving this while also trying to meet Financial Fair Play requirements will be a challenging task for all football clubs.

"Business risks identified include reduced income from parachute payments in 2014-15 and 2015-16 and the potential sanction from non compliance with the FFP rules."

He also seems to be saying here that in the future we are very likely to be hit with sanctions for failing to comply with FFP, so more to look forward to.