[Archived] Rovers £54.5m in debt.

[John]

It's simply not sustainable - I can't see how we can avoid administration unless promoted?

[47er]

Lets hear from those who say that we are doomed without Venkys and that they have finally shown signs of learning from their mistakes.

[John]

Nobody will offer Venky's anything so it probably will be administration....which leads to a points deduction and other teams buying our (1) best player at knock down price(s).

[SIMON GARNERS 194]

It appears a very real possibility 47 that we are totally fooked with or without them tbh...no win situation here.

FC Rovers of Blackburn anyone?

[Gav]

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

Even if we got promoted (NO CHANCE BY THE WAY) those types of figures would be hard to service and bring in decent talent to stay up.

They'd try to stay up on the cheap and we'd end up in a worse position than we are now I'd wager.

Why don't they just sod off? Makes no sense to me whatsoever.

[Tom]

Are all the debts against the football club or are any against the owners?

Being a bit thick here but anyone who took the club on would take on the debts with the bank I take it?

[broadsword]

There's only three possible explanations

1. They're truly thick and still cling to the hope of being able to turn this thing around. Just the conceot is enough to make me laugh.

2. They're desperate to go but somehow can't. Perhaps painted into a corner with financial agreements or somesuch.

3. They're figuring pn a way to get their dough back by liquidating the club

I think the basic incontrovertible heuristic is that the longer they stay, the worse it gets

[G Somerset Rover]

There's only three possible explanations

1. They're truly thick and still cling to the hope of being able to turn this thing around. Just the conceot is enough to make me laugh.

2. They're desperate to go but somehow can't. Perhaps painted into a corner with financial agreements or somesuch.

3. They're figuring pn a way to get their dough back by liquidating the club

I think the basic incontrovertible heuristic is that the longer they stay, the worse it gets

Gotta be number 2 Bryan, which is why they've never even answered a phone call about the potential sale of the club. They're stuck with us IMO, and probably have JA to thank for that.

[MrT]

Welcome to the a Venkys 'corner shop' ownership model

They've had 50m in sales 50m in parachute payments and that's without factoring in the all the TV money, probably another 100m or so over the past three years.

I'd like to say I'm shocked, but tbh I expected it to be more, the Bhiatti bros mk2 these guys.

[broadsword]

It makes me feel ill just thinking about it.

[LDRover]

Wouldn't shed any tears if something really nasty happened to Jerome Anderson. Not that I'm encouraging it. No. Not at all.

[den]

Wouldn't shed any tears if something really nasty happened to Jerome Anderson. Not that I'm encouraging it. No. Not at all.

As much as we all despise his input, I still can't accept that the trustees acted in the manner that JW intended them to do. Sorry for resurrecting an old story here, but I'm not convinced that they followed through Jack Walkers true wishes.

[bob fleming]

Power, Corruption & Lies.

That was the the cover of the New Order album we placed on the coffin when we went from the Fox to the Aqueduct (RIP) the other year. On tour from Brig, where it will be held next time I hope.

Power? Idiots. Singh?!?! Good grief. I mean fc king hell. What an absolute tw@t

Corruption? All the usual suspects. Those on the Board right now? The JW " Trust"? Well, Jack Walker, Ibbotson and Fox will be waiting for you - should you go that way

Lies? Anderson, Kean. Scum bags. Enjoy your money. Rot in bloody hell

54m. Wow. Hardly a shock though really. Part of me hopes that these clowns are seriously loaded, seriously seriously loaded. The other part of me knows damn well that this lot will leave us dead and buried. Just walk away, like it never happened. All confused.

Anyone got a quid? Cause that'll be the asking price - with the debt.

All I know is that I enjoyed today. I enjoyed it with my son on the BBE. We sang, we cheered. We won! It was great. Enjoy it while you can boys and girls.

[DE.]

As much as we all despise his input, I still can't accept that the trustees acted in the manner that JW intended them to do. Sorry for resurrecting an old story here, but I'm not convinced that they followed through Jack Walkers true wishes.

The Trust wanted out at any cost. I don't think they cared about Jack's legacy and their total silence since Venky's began destroying the club is quite damning.

[rhodie]

There's only four possible explanations

1. They're truly thick and still cling to the hope of being able to turn this thing around. Just the conceot is enough to make me laugh.

2. They're desperate to go but somehow can't. Perhaps painted into a corner with financial agreements or somesuch.

3. They're figuring pn a way to get their dough back by liquidating the club

4. They are writing the losses off because they will be tax deductible.

[Guest Norbert]

Basically, we're f_cked unless we are promoted. Oh poo, it sounds like it is back to the fantasy world of football manager then!

[West Yorks Rover]

As much as we all despise his input, I still can't accept that the trustees acted in the manner that JW intended them to do. Sorry for resurrecting an old story here, but I'm not convinced that they followed through Jack Walkers true wishes.

I bet Jack stipulated that the club should not be sold to foreigners at any price.

[AndyNeil]

To be honest, promotion probably means we are just less fcuked than if we aren't. There is clearly going to be no change in the policy of doing it 'on the cheap' - promotion (as laughable as the prospect seems) would hopefully be a 'get out of jail free' card and their chance to sell at break even - at best - and getting out of this no situation they find themselves in.

The fact we are £54.5m in debt combined with (largely mediocre) Championship football is an absolute damming indictment of the last 3 years - whomever our 'owners' have been. INSERT SWEAR WORD.

[West Yorks Rover]

To be honest, promotion probably means we are just less fcuked than if we aren't. There is clearly going to be no change in the policy of doing it 'on the cheap' - promotion (as laughable as the prospect seems) would hopefully be a 'get out of jail free' card and their chance to sell at break even - at best - and getting out of this no situation they find themselves in.

The fact we are £54.5m in debt combined with (largely mediocre) Championship football is an absolute damming indictment of the last 3 years - whomever our 'owners' have been. INSERT SWEAR WORD.

This does appear to be our only chance of salvation, but we would certainly need a hell of a lot of luck to get promotion through the play-offs,

a lot more than we've had so far with injuries for a start, but if a miracle happened, they would probably reward Lofty Shaw with a new

long-term contract and announce that they have no plans to sell their ' baby ' and they are here for the long haul.

[Stuart]

In spite of the @#/?s who caused this, is it time for the fans to return to Ewood and be the 12th man for the rest of the season?

As ridiculous as it sounds, if promotion on the cheap is our only option for salvation, and the best chance* of getting rid of Venkys whilst keeping the club from going under, then surely we have to rally round for 5 months and see what happens. (*Of course, the catch-22 is that they may still not leave but it's a chance we may have to take).

People say it's our club and Venkys need to go but if that's the case we need to step in now and at least try the 12th man route before we take to shaking buckets outside Ewood and in town.

Administration will mean points deduction and almost certain relegation next season so this could be our last chance.

[47er]

Trouble is promotion might mean they stay. Access to all that TV money will enable Balaji to indulge again.

Not that its a problem, I can't see us getting there.

[Paul]

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

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

The accounts were filed Thursday and were not shoing in Companies House at 1.00pm that day as I was downloading the Share Register at that time. I got an email alert from Companies House yesterday lunchtime saying the accounts were available for viewing. I doubt it's been missed just a very sharp BBC journalist has got in very fast.

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.

And that's the message to everyone GAV. While the club is on the brink of administration and only surviving because either Balaji or Venkys have a hand on the life-support on/off switch nothing can happen. All other discussion is pointless.

Promotion is not, in my own view, the answer. I was posting weeks ago even if we go up and wipe out the debt we won't have a squad capable of staying up. If promoted the only option is to take the money, risk relegation in the knowledge that a season would solve the financial problems - I guess this is how the Raos view it.

Our only possibility of salvation is for the Raos to leave one way or another. How doesn't matter, these people simply have to go. Said it three years ago, still believe it's true today.

Anyone spot the official crowd figures? 16,645 yesterday. Income £350,000 tops from that game and we are probably still losing £2m per month.so the debt is more likely £65m today.

[cesus]

136% of turnover is spent on wages!!!

I've seen a lot of people mentioning the phrase "on the cheap", the above figure shows that as a club (spending within the limits of the clubs income, like Williams used to) is spending well, well beyond its means. We are obviously lacking massively in experience when contract discussions are ongoing as people are clearly earning well beyond their pay grade because I certainly don't look at a squad that should be earning so much.

DISCLAIMER - I'm in no way defending Venkys just trying to fathom how we could balance the wages if anybody else was in charge.

[Parsonblue]

And that's the message to everyone GAV. While the club is on the brink of administration and only surviving because either Balaji or Venkys have a hand on the life-support on/off switch nothing can happen. All other discussion is pointless.

Promotion is not, in my own view, the answer. I was posting weeks ago even if we go up and wipe out the debt we won't have a squad capable of staying up. If promoted the only option is to take the money, risk relegation in the knowledge that a season would solve the financial problems - I guess this is how the Raos view it.

Our only possibility of salvation is for the Raos to leave one way or another. How doesn't matter, these people simply have to go. Said it three years ago, still believe it's true today.

The points I've highlighted Paul, for me, show the Catch-22 that we now find ourselves in. We survive only at the whim of the owners. However, if they decide to walk away tomorrow - highly unlikely I know - who pays next week's wage bill? I'm not talking about the players because we all know the PFA will step in and ensure that they don't suffer. The real victims of Venky's mismanagement will be the ordinary men and women of the area who are employed at Ewood Park, the Senior Training Ground and the Academy. The people who have mortgages and bills to pay and who may very well find themselves without a job in what is already a very depressed area. Then there are the small local traders who rely on the Rovers for work and clearly going into administration will no doubt threaten local traders who will have bills unpaid. Blackburn Rovers is more than just the latest match result. It is one of the largest employers in the area and if it falls there are an awful lot of people who suffer - in fact everyone but those who step onto the pitch.

Sadly, until someone steps up who is prepared to take the Rovers on - and a debt of 54 million is hardly going to attract a buyer - we need the bills to be paid. Whilst starting again sounds attractive I really can't see how it is practical in terms of supporting the infrastructure that Jack Walker has built.

Promotion - which I believe to be highly unlikely - will only delay matters for a year or two because we will only be a one season wonder in the top flight. With these sort of debts we would be unable to invest in the quality of player to keep us up.

I think you raise a very important point at the end Paul in terms of the gate. Low gates and low ticket prices mean the debt will continue to grow. Yesterday's attendance will have gone nowhere near paying the wage bill of the players on the pitch let alone the other 50+ players in the senior squad, Under-21 squad, Academy squad and everyone else that the club employs.

The only solution I can see is for the owners to find a very wealthy buyer who wants a football club and has the capacity to lose 50, 60 or 70 million without blinking. Somehow I don't think it's going to happen anytime soon.

[toogs]

The only solution I can see is for the owners to find a very wealthy buyer who wants a football club and has the capacity to lose 50, 60 or 70 million without blinking. Somehow I don't think it's going to happen anytime soon.

How can that happen under the FFP rules?