[Archived] Rovers £54.5m in debt.

[rovers11]

I think it relates to losses as FFP is supposed to be vehicle to reduce debt as opposed to quickly wiping it all out. I don't see how it could possibly work otherwise.

That would make more sense. If it was a case of getting our overall debt down from 54 to 8 then we would truly be screwed, we don't have enough playing assets to do so. Getting our operating losses down to 8 is more manageable.

We'll obviously have our parachute payments halved next season so will be 8m. I'm assuming we won't sack 3 managers this season, we spent barely anything in the transfer market this summer, and have reduced our wage bill significantly with the likes of Murphy, Pedersen and Givet going. Plus, we've got a sponsor this year and haven't splashed out 8m on one player.

Can we reduce our wage bill further without significantly weakening our playing squad? Surprisingly, I'd say yes! Etuhu, Orr, Robinson, Best, and DJ can all go and we wouldn't really notice. We'll simply have to sell Rhodes. If we can get 10m then we'll have to take that plus it will mean we get 2m per year off the wage bill. Dann will have to go as well and maybe Hanley.

In saying all that, not convinced whether FFP will ever fully come to fruition.

[perthblue02]

Sounds like it will be time for incontinence pants all round at the end of the season. The Raos just prove that Indians and sport administration just do not go. This is death in stages for the club.

Bit unfair on everybody from India.

All that the Rovers fiasco proves is that Football Agents and associates and associated sports agencies and syndicates should never be allowed to administer a football club or be involved even just " advising" future owners, thank god the FA keep an eagle eye on everything and don't allow this to happen no matter who is involved with bringing income into FA coffers

[thenodrog]

Bit unfair on everybody from India.

All that the Rovers fiasco proves is that Football Agents and associates and associated sports agencies and syndicates should never be allowed to administer a football club or be involved even just " advising" future owners, thank god the FA keep an eagle eye on everything and don't allow this to happen no matter who is involved with bringing income into FA coffers

Unfair?

[perthblue02]

Unfair?

Yeah can't really judge an entire nation on the actions of four people (which is debatable if it was originally one who shared their "advisor's"" vision or all of them)

[John]

If you are angry, worried or disillusioned with our financial situation - http://www.dailymail.co.uk/sport/article-2086450/Agent-Jerome-Anderson-takes-legal-advice-Blackburn-abuse-Charles-Sale.html

http://www.dailymail.co.uk/sport/article-2030832/Nick-Harris-Agent-paid-1-65m-deal-player-cost-400-000.html

http://www.theguardian.com/sport/blog/2007/aug/21/agentandersonthemanbehind

[lraC]

Doesn't he seem like a very nice man that agent, sorting everyone's problems out. I hear he does it for free too, what a real credit to his profession he really is!!!

[Guest Norbert]

Bit unfair on everybody from India.

All that the Rovers fiasco proves is that Football Agents and associates and associated sports agencies and syndicates should never be allowed to administer a football club or be involved even just " advising" future owners, thank god the FA keep an eagle eye on everything and don't allow this to happen no matter who is involved with bringing income into FA coffers

The Dehli Commonwealth games that were mired in corruption and scandals about the facilities and disease? The dodgy bookies that fix many cricket games and probably much more? The bullying and manipulating of the ICC when Harbijan Singh allegedly racially abused Symonds?

India has provided great sportsmen on the field of play, but is a corrupting, corpulent and destabilising influence in the corridors of sport. And the politicians are worse.

[thenodrog]

Yeah can't really judge an entire nation on the actions of four people

Surely 180 million Pakistanis cant be wrong?

[perthblue02]

The Dehli Commonwealth games that were mired in corruption and scandals about the facilities and disease? The dodgy bookies that fix many cricket games and probably much more? The bullying and manipulating of the ICC when Harbijan Singh allegedly racially abused Symonds?

India has provided great sportsmen on the field of play, but is a corrupting, corpulent and destabilising influence in the corridors of sport. And the politicians are worse.

Can't argue against that but is it not a case of they are just not as good at covering their tracks? How long did it take for the FA to hold their hands up about Hillsborough's safety certificate? How many Fifa officials have been allowed to "resign" rather than face consequences.

Wherever sport and money mix there is corruption , more so in low wage / poverty areas in the world but this might appear so because they can not afford PR companies, or constantly issue solicitor letters or gag the press because the stakes and level of corruption are higher and therefore more money to hide beneath.

IMO we could have been taken over by any nationality and as long as they knew nothing about how running a Football club operates the result would have been the same. Being Indian and the way they operate business wise must have been a prime consideration in them being the chosen ones to take over, also a willing family member who wanted bragging rights of owning a club must have been a dream come true for some people.

If the story of the takeover ever comes out I would bet my house that the initial plan to run Rovers did not originate in Pune

[West Yorks Rover]

Can't argue against that but is it not a case of they are just not as good at covering their tracks? How long did it take for the FA to hold their hands up about Hillsborough's safety certificate? How many Fifa officials have been allowed to "resign" rather than face consequences.

Wherever sport and money mix there is corruption , more so in low wage / poverty areas in the world but this might appear so because they can not afford PR companies, or constantly issue solicitor letters or gag the press because the stakes and level of corruption are higher and therefore more money to hide beneath.

And of course, some of our most influential sports people take up tantric dancing to cover their tracks.

[perthblue02]

And of course, some of our most influential sports people take up tantric dancing to cover their tracks.

No idea what you mean

[Mullionvagrant]

http://espnfc.com/blog/_/name/espnfcunited/id/10490?cc=5739

Chaos comes before a financial fall

[thenodrog]

Just to put most other debate on this mb into perspective.......

Latest very reliable take on the situation informs me that as most observers suspect the financial situation is unrecoverable and the obligatory administration and obligatory 10 point hit will come in the spring IF the club have enough points on the board by then to avoid relegation. If not they might try to hang on until next season before they enter administration. Efforts will be made to avoid full blown bankruptcy.

If I had a business dealing with the club I'd be looking to get what I'm owed and cut and run.

http://en.wikipedia.org/wiki/Administration_(British_football)

Make of that what you want but don't shoot the messenger.

btw As for my take on the above.... Catastrophic for BRFC but it might not be all bad for football given the FFP rules coming in etc cos we wont be alone in feeling the cold wind blowing in, our players value will drop like a stone and there will be no one willing or able to pay them the stupid amounts that they have become used to, agents will be unable to buy shoes for their kids and the arse will fall out of the luxury car market. Anybody with any talented kids will once again have to make sure that they don't neglect their studies!

[thenodrog]

.

[SIMON GARNERS 194]

Nothing but a 'confused' silence reigns since this news of impending financial troubles broke...

Your still clueless as ever Venkys..as you were!!

[den]

Surprised how few responses to your post there are Theno.

[Ozz]

Indeed Den. We are not at the end. We are not at the beginning of the end. We are just at the end of the beginning!

[broadsword]

I've not replied as yet since it doesn't surprise me at all. If we go into administrator , I assume a certain numver of pence in the pound will be offered to creditors. If that is satisfactory to ceditors then I presume venky's will maintain theirdeath grip on the club? lliquidation would only occur if key creditors eg hmrc cannot be paid off?

[darrenrover]

Working purely on assumptions, hypotheses and the worst case scenario of bankruptcy. The pieces are then picked up by Rovers Trust, Seneca, friends and Blackburn Rovers 2014 FC found themselves starting afresh in League 2 for season 2014/15.

Faced with this potential eventuality, what level of support do you think the Phoenix Rovers could rely on?

Would there be rejuvenation amongst our supporters and a general attitude of clenched fists and an attitude of 'come on lads and lasses, 'We are the Rovers' which then galvanised us all to climb the football pyramid once again?

Would we be guaranteed 15,000 on Ewood for home games and have 6 to 8,000 following us to the likes of Bury and Rochdale?

I'm curious to know other's views and it is a point that should be considered IMO.

[Stuart]

I've not replied as yet since it doesn't surprise me at all. If we go into administrator , I assume a certain numver of pence in the pound will be offered to creditors. If that is satisfactory to ceditors then I presume venky's will maintain theirdeath grip on the club? lliquidation would only occur if key creditors eg hmrc cannot be paid off?

What an awful prospect. We go into admin and are STILL be stuck with Venkys. There really in no silver lining, is there.

[den]

Working purely on assumptions, hypotheses and the worst case scenario of bankruptcy. The pieces are then picked up by Rovers Trust, Seneca, friends and Blackburn Rovers 2014 FC found themselves starting afresh in League 2 for season 2014/15.

Faced with this potential eventuality, what level of support do you think the Phoenix Rovers could rely on?

Would there be rejuvenation amongst our supporters and a general attitude of clenched fists and an attitude of 'come on lads and lasses, 'We are the Rovers' which then galvanised us all to climb the football pyramid once again?

Would we be guaranteed 15,000 on Ewood for home games and have 6 to 8,000 following us to the likes of Bury and Rochdale?

I'm curious to know other's views and it is a point that should be considered IMO.

I think for rovers, coming out of Administration - assuming there's no sugar daddy - would simply mean a huge, huge downscaling both in the squad and staffing levels, never mind the hard infrastructure. Who's going to keep Ewood, Brockhall and the academy running? I would guess relegation would be more likely than any kind of rebound. There again, that's the pessimist in me. Wondering whether we can get 15000 average gates, kinda doesn't come into my thinking.

Oh, I'm not sure we'll got ourselves into a position where we can take a 10 point penalty and be in any way sure of staying in this league.

Thanks Ozz. I always value your opinion.

[Stuart]

Would we be guaranteed 15,000 on Ewood for home games and have 6 to 8,000 following us to the likes of Bury and Rochdale?

I'm curious to know other's views and it is a point that should be considered IMO.

It would depend on who we are groundsharing with and where, and when.

If Venkys go this season and we started again in League Two (is that even possible?) then I think people would stick around in the numbers you mention. Well, maybe not 15k at home. It would be a novelty and, hopefully a sense of 'getting our Rovers back'.

If we end up playing games at Leigh or Darwen Ranger then it may be even more of a struggle.

But the 'euphoria' won't last long and an extended League Two stay (hypothetically) would see people drift away season on season. New fans would be limited to the kids who can be convinced to go with mum or dad, or grandad - when all their mates taunt them that 'your @#/?' (sic).

[darrenrover]

I think for rovers, coming out of Administration - assuming there's no sugar daddy - would simply mean a huge, huge downscaling both in the squad and staffing levels, never mind the hard infrastructure. Who's going to keep Ewood, Brockhall and the academy running? I would guess relegation would be more likely than any kind of rebound. There again, that's the pessimist in me. Wondering whether we can get 15000 average gates, kinda doesn't come into my thinking.

Thanks Ozz. I always value your opinion.

I understand and agree with your concerns Den.

Mine are, I don't honestly believe that an administrator would take long to make his mind up before the next step. Can you imagine anyone taking on our current levels of indebtedness and future 'football related' contractual obligations?

[den]

I understand and agree with your concerns Den.

Mine are, I don't honestly believe that an administrator would take long to make his mind up before the next step. Can you imagine anyone taking on our current levels of indebtedness and future 'football related' contractual obligations?

No one. If we went into Admin, I guess Venky's would give the club to the first interested party. Better hope it's not a consortium of Burnley fans.

[SIMON GARNERS 194]

It would depend on who we are groundsharing with and where, and when.

What a truly awful prospect..horrific!