[Archived] Rovers £54.5m in debt.

[broadsword]

I think the payments are staggered to hudds as well. They! Ll end up without a farthing between them. God they're so thick

[chaddyrovers]

It's easy to say could - hypothetical - I could win the lottery. Do you really believe they would though Chaddy? If so, based on what?

I don't know what the owners are thinking and would do with me never meeting them. I don't know what they are like tbh in person.

my point is that it is option for them to think about. that's all.

the only real way for us to clear the debt in total is Promotion this season. lets hope we can do it.

[Parsonblue]

As there seems to be a very real danger this may be the club's last season i hope fans get to matches in big numbers.

Those staying away to make there point might miss there last chance to cheer rovers on at ewood.[/qute]

What a load of tosh read the mail on Sunday re QPR much worse than Rovers by a long way

The difference being that there is a very good chance QPR will be promoted this season and their owners have the wealth to be able to cope with the fine. We are not going up and have owners who think that £5 million will buy them a place in the Champions League. The Rovers are in a far worse situation than QPR.

[den]

Well, while we're all being ultra negative, it is quite possible that we are actually underplaying the situation. Not too long ago, some people were forecasting big financial problems for us. Debts of c£30m were put forward as being possible. Well, not too far along the line, we have confirmed debts of £54m. Let's assume that those debts are now c£60m, we don't get promoted and are hit with a £20m fine and transfer embargo for breaching the FFP rules. Take on board also that we're still losing £2m a month and the parachute payments are reduced next season. Is it beyond possibility that the debts could be c£90m?

[John]

A football club stabbed in the heart by Jerome Anderson and Steve Kean - we will never recover but at least they are happy (plus Myles).

Those who sat on the fence, realise now at least, these chicken farmers & SEM have killed us.

[G Somerset Rover]

I bet Venkys want to throttle he who shall not be named almost as much as well all do!

[perthblue02]

I bet Venkys want to throttle he who shall not be named almost as much as well all do!

Well possibly three of them might, one I'm not so sure about who might have gone into this with eyes wide open ,It's quite possible that any personal losses are /were being offset in other ways

[Paul]

I can't work out how that is legal. btw does that mean 'football debt' comes above the HMRC for example?

Until Den posted his link I had thought it was simply an FA rule which meant if a club wanted to play in the league debts had to be settled. It seems even HMRC have failed to challenge this one. Seems entirely wrong to me.

Pompey's football related debts. It would be interesting to know how many of these are playing and pulling a wage elsewhere?

Total outstanding: £143,250

Payable by: 40 monthly payments of £3,581.25.

DAVID JAMES

£145,921.90 – 40 months of £3,648.05.

KANU

£155,314.50 – three lump-sum payments of £51,771.50 in March 2014, 2015 and 2016.

BENJANI

£214,572.73 – 4O months of £5,364.32.

HAYDEN MULLINS

£632,281.32 – 28 monthly payments of £21,867.19. One lump-sum payment of £20,000 in January 2016.

AARON MOKOENA

£288,844.80 – 40 months of £7,225.92.

DAVID NORRIS

£182,729.92 – 40 months of £4,568.26.

ARUNA DINDANE

£176,245.03 – 40 months of £4,406.13.

LUKE VARNEY

£153,818 – 40 months of £3,845.

ERIK HUSEKLEPP

£40,000 – lump-sum payment of £20,000 in January 2014 and January 2015.

HASSAN YEBDA

£264,491.44 – 40 months of £6,612.29.

STEPHEN HENDERSON

£42,935.86 – 40 month of 1,073.40.

GREG HALFORD

£162,802.76 – 40 months of £4,070.07.

RICARDO ROCHA

£165,136.61 – 40 months of £4,128.40.

JAMIE ASHDOWN

£78,731.92 – 40 months of £1,968.30.

JASON PEARCE

£29,162.51 – 40 months of £729.06.

HERMANN HREIDARSSON

£42,935.86 – 40 months of £1,073.40.

KELVIN ETUHU

£3,000 – one payment made on Aug 30, 2013.

JOEL WARD

£20,206.57 – 40 months of £505.16.

STEVE FINNAN

£88,312.50 – 40 months of £2,207.81.

MICHAEL BROWN

£472,375 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £6,809.38.

RICHARD HUGHES

£372,484.42 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £4,312.11.

LIAM LAWRENCE

£616,666.54 – lump-sum payment of £200,000 on Aug 30, 2013. 40 months of £10,416.67.

DAVE KITSON

£608,333.36 – lump-sum payment of £150,000 on Aug 30, 2013. 40 months of £11,458.33.

TAL BEN HAIM

£1,633,333.36 – lump-sum payments of £650,000 on Aug 30, 2013 and £150,000 on Aug 31, 2014. 40 months of £20,833.33.

[Paul]

Well, while we're all being ultra negative, it is quite possible that we are actually underplaying the situation. Not too long ago, some people were forecasting big financial problems for us. Debts of c£30m were put forward as being possible. Well, not too far along the line, we have confirmed debts of £54m. Let's assume that those debts are now c£60m, we don't get promoted and are hit with a £20m fine and transfer embargo for breaching the FFP rules. Take on board also that we're still losing £2m a month and the parachute payments are reduced next season. Is it beyond possibility that the debts could be c£90m?

Den the Trust forecast a loss of £40m for the last financial year so we weren't too far out. I think your figures are pretty accurate. It seems the club are losing £2m, possibly £3m, a month which in the current year will add £24m to give a total of £78m by the end of the season.

If there is an FFP fine the total is going to hit £80-100m. Proves a fine under FFP is pretty meaningless. Would it be paid?

Under administration football debt has to be paid. The wage bill in 2012/2013 showed a reduction of £14m to £36m. If we imagine a similar reduction for the current season to £22m it puts the football related debt in perspective.

Remember the wage bill is constituted of long term contracts and it's easy to see how long term football debt could be £30-40m to the squad.

For a long time I've thought administration was the answer. I'm not sure now and I've no idea what bankruptcy would mean.

[Paul]

I think I'm going to give up reading. The following from Wiki suggests March 27th 2014 is going to be a crucial date - 19 weeks

Leeds United filed for administration with only a few days remaining in the 2006–07 season, which automatically triggered a 10-point penalty. This placed Leeds at the bottom of the table and relegated the club, but they were extremely likely to have been relegated anyway. By entering administration during the 2006–07 season, they hoped to avoid starting the 2007–08 season on −10 points. The Football League saw this as a club trying to exploit a loophole and changed the rules. From 2007–08, any club entering administration after the fourth Thursday in March would have their 10-point deduction suspended until the following season. If the club is relegated the points will be deducted from their tally at the start of next season. If the club stays up the 10 points will be taken off their final total.

[Stuart]

Venkys have cut off our arms and our legs and we are now dependent on them to keep us alive.

Forget administration, our best hope is reincarnation for us and karma for them.

[Jimmy612]

A football club stabbed in the heart by Jerome Anderson and Steve Kean - we will never recover but at least they are happy (plus Myles).

Those who sat on the fence, realise now at least, these chicken farmers & SEM have killed us.

'Support your club, get behind the lads. Blackburn Rovers will be here for many years after they've gone!'

It would appear not.

We protested because we could see the complete destruction of our club - we saw the writing on the wall. It wasn't about managers or results, it was about the long term future of our club. And the majority of fans just kept turning up on a Saturday without a care in the world - only showing signs of life if someone dared to wave a banner or shout 'Kean out'.

'This is my club and I won't be driven away' .... oh and what happens when the doors of Ewood Park are locked for good?

[thenodrog]

.... oh and what happens when the doors of Ewood Park are locked for good?

To mix threads........... Presumably we can all buy a PS4 and stay home saturdays listening to gangsta rap.

[FGS5635]

Buy a ps4? Surely we get them for free bro, coz we r b soo sick...init

[John]

I just sit at home now and listen to Coldplay.

[thenodrog]

Leonard Cohen might suit the current situation better john.

[Paul]

I just sit at home now and listen to Coldplay.

Surely even Ewood is better than that???

[K-Hod]

I just sit at home now and listen to Coldplay.

I'd rather drink a pint of cyanide.....

[Roverall]

We all know who the snake is at the heart of this.

I just wish some editor worth their salt would bite the bullet and go to press with the story. I suppose that we aren't a big enough story for them to take that risk on.

The more you read about the inherent dodginess of business surrounding the beautiful game, the more you realise that stuff like this is happening and has been happening for quite some time.

A real eye-opener.

Still though, perhaps if we just get behind the boys it'll all turn out well.

[broadsword]

Yes we must all stop being tremblers. And cheer the boys on, then everything will be cool

[Parsonblue]

Yes we must all stop being tremblers. And cheer the boys on, then everything will be cool

Everything might not be cool, but if you don't support the players on the pitch then there really is no point to being a supporter.

[Bucksrover]

Everything might not be cool, but if you don't support the players on the pitch then there really is no point to being a supporter.

Agree with this - fine to have a rant on the message board at the off-field mistakes (bordering on crimes) that have been made, but come match-day I will be cheering on the players (still considering whether this applies to Leon Best - but that's another topic.)

[Jimmy612]

Agree with this - fine to have a rant on the message board at the off-field mistakes (bordering on crimes) that have been made, but come match-day I will be cheering on the players (still considering whether this applies to Leon Best - but that's another topic.)

Nice sentiment Bucks. I wonder whether you will still cheer on the players with as much gusto when we have been plodding around league two for a year or so. Terrible times ahead for Rovers fans, the likes of which many of us will never have experienced before (me being one).

Those @#/?s that have done this won't give us a second thought as they head happily into retirement - nor the people who have or will lose their jobs. The whole thing stinks and I for one hope every prick involved gets rounded up and strung up for it.

[PAFELL]

Nice sentiment Bucks. I wonder whether you will still cheer on the players with as much gusto when we have been plodding around league two for a year or so. Terrible times ahead for Rovers fans, the likes of which many of us will never have experienced before (me being one).

Those keans that have done this won't give us a second thought as they head happily into retirement - nor the people who have or will lose their jobs. The whole thing stinks and I for one hope every prick involved gets rounded up and strung up for it.

Yet there are many on this board who have already experienced times when rovers were in the lower divisions. When getting to division one as it was then called was just a pipe dream. I for one, no matter what division the team plays, will always support Rovers. I believe a genuine supporter will follow their club no matter the times it finds itself in.

[PAFELL]

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!

QPR will be another club that will be hit hard with the FFP rules.

With regards to Rovers situation. Stand naming rights, ground name etc are ways of reducing the debt. But the problem is, who would want to have their names / business linked in anyway to venkys. If venkys sold up, then there would be a slim chance. Although the debt would not be gone, it would only be reduced.