[Archived] Rovers £54.5m in debt.

[Paul]

I couldn't argue with any of what you say PB and fully agree the real tragedy is going to be for the townspeople, those employed at Rovers and those whose business relies one way or another on the club - even if it's just the boost in income for a newsagent selling sweets on matchday.

The harsh reality for me is this, and I believe the fans and the town have to grasp this, the Raos have destroyed the club and one way or another will close it in the near future.

How?

1. Walk away and leaves us in administration
2. Win promotion, pay the debts and take what remains
3. Fail to win promotion this season, sell off every tangible asset and close it

At the current rate of losses we will £90-100m in debt by next June - just add £36m to the current £55m - the Raos will not sustain that beyond summer 2014.

Brockhall was once a mental institution - the lunatics truly have taken over the asylum.

[cesus]

How can that happen under the FFP rules?

Mark my words when FFP comes in, we will have the book thrown at us. It will be the time our finances finally get scrutinised by the FA and questions get asked, but the only people who will feel the effects of the findings would be us supporters, when the penalties are handed out!

[Clitherover]

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?

Not a chance I'd follow a club with that name, sounds too much like a club created by a bunch of self indulgent United fans.

[Riverside67]

Tyrrany of incompetence should be the banner headline

Worst of all for me the fans told the Roa's 2 years ago where this would end up particularly during the Bolton white flag game

Who got pummelled. Those horrble ignorant fans by Jim White and the Kentaro brigade, the LMA and every other clubs set of fans.

The Rovers fans will be left with the liabilty of a bankrupt club.

Either never ending Venky's funding or administration awaits.

Lets hope it is not liquidation.

[Stuart]

I couldn't argue with any of what you say PB and fully agree the real tragedy is going to be for the townspeople, those employed at Rovers and those whose business relies one way or another on the club - even if it's just the boost in income for a newsagent selling sweets on matchday.

The harsh reality for me is this, and I believe the fans and the town have to grasp this, the Raos have destroyed the club and one way or another will close it in the near future.

How?

• Walk away and leaves us in administration
• Win promotion, pay the debts and take what remains
• Fail to win promotion this season, sell off every tangible asset and close it

At the current rate of losses we will £90-100m in debt by next June - just add £36m to the current £55m - the Raos will not sustain that beyond summer 2014.

Brockhall was once a mental institution - the lunatics truly have taken over the asylum.

I'm hoping that this is the post of a Rovers and as a spokesperson for The Trust you have a lot more fight about you, Paul.

Can an owner really CLOSE a club without bringing an administrator in? If they did would they be banned from being company directors globally or just in the UK? At the very least their international reputation would be ruined, no?

[SIMON GARNERS 194]

From being championed as a financial role model of a club under the careful ownership of Jack Walker to the very probable impending ruination under the clueless and confused.com of Pune...

Certain individuals should be brought in front of a court of law and be made accountable for what has happened.

The fans will just be left to pick up the debris after these Ham Shankers have finished with us.

[Stuart]

Tyrrany of incompetence should be the banner headline

Worst of all for me the fans told the Roa's 2 years ago where this would end up particularly during the Bolton white flag game

Who got pummelled. Those horrble ignorant fans by Jim White and the Kentaro brigade, the LMA and every other clubs set of fans.

The Rovers fans will be left with the liabilty of a bankrupt club.

Either never ending Venky's funding or administration awaits.

Lets hope it is not liquidation.

And the arrogant @#/?s would STILL peddle the line that the fans got us relegated and the fans therefore brought the club to its knees.

And "fans" of other clubs (aka Sky Sports armchair fans) would STILL buy it.

Jim White, see you next Tuesday...

[Proudtobeblue&white]

Note, highest paid Director......mouth watering £139,000, nowhere else but in Loonland would a Director earn that much money for being sh*t. Well done Degsy.

[Paul]

I'm hoping that this is the post of a Rovers and as a spokesperson for The Trust you have a lot more fight about you, Paul.

Can an owner really CLOSE a club without bringing an administrator in? If they did would they be banned from being company directors globally or just in the UK? At the very least their international reputation would be ruined, no?

I have plenty of fight in me Stuart and the above is my personal opinion.

Of course the Raos can close it, it's their company - liquidation not administration. I'm not up on the technical differences but I believe the Raos could liquidate the company, pay off whatever proportion of the debts which can be realised and that's it. we have to be realsitic, just how much longer are they going to keep pumping money in to the club with no hope of a return?

Surely their reputation is ruined already?

[Roverall]

I remember the night Sam was sacked, Philipl saying that Jerome Anderson would ruin this club if allowed. Three years later...

[Stuart]

Surely their reputation is ruined already?

They haven't closed down a club yet and, from the outside looking in, they are sticking around to cover the losses. Might be seen as honourable in some circles.

[Waggy76]

Note, highest paid Director......mouth watering £139,000, nowhere else but in Loonland would a Director earn that much money for being sh*t. Well done Degsy.

Very true , like someone posted earlier , Derek Shaw is an incompetent idiot , who took one in court for the Venkys ...

Hence why , he is still in situ ..

[SIMON GARNERS 194]

Very true , like someone posted earlier , Derek Shaw is an incompetent idiot , who took one in court for the Venkys ...

Hence why , he is still in situ ..

Good call Waggy,very good call...

[imy9]

Quick question, if we post losses of 35 million next year, how much of a fine on top of the losses do we have to pay?

[broadsword]

Someone's gotta write an expose of this some day. I mean the whole thing is just a microcosm of all that is wrong with football.

[DavidMailsTightPerm]

I keep seeing people qouting £2m a month losses. For anyone that has seen the accounts - what would they consider our month on month losses to now be - considering we have paid off a number of our high earners.

Given the figures - a reasonable offer of aroun £10m for Rhodes will surely see him go in January - not certain the Raos would sell for less and risk losing face.

[broadsword]

Nobody's going to offer that when it will be common knowledge we're up Kean Creek.

Since June, Pedersen's gone. Can't remember anyone else, so I'd expect we'll still be pissing away 2 mill per month, whether it's 1.6, 1.7, 1.8 etc, it's not a significant difference.

I think the tipping point has long ago been reached.

[47er]

They haven't closed down a club yet and, from the outside looking in, they are sticking around to cover the losses. Might be seen as honourable in some circles.

Might be seen as honourable in some circles indeed but surely not your's Stuart. I refuse to believe you are that naive.

Raos will be looking to get out of this with as little loss as possible, I simply cannot see how though.

They could close us down unless their creditors intervene, the footballing authorities will simply watch on and issue us with a points loss if we survive.

That's the good scenario. Sad times indeed.

[Waggy76]

Just watching Match of the Day ..

The 2 faces of Blackburn Rovers history on the show

Alan Shearer, the greatest player I have ever seen in a Rovers shirt or ever will ..

Daniel Murphy , a man who should hold his head shame for the lack of effort he put in at Blackburn Rovers ..

[OJRovers]

How long til bank of India pull the plug?

Being serious, cashflow must be negative every month, we might not make it til the summer if the bank refuses to keep extending the overdraft.

[Stuart]

Might be seen as honourable in some circles indeed but surely not your's Stuart. I refuse to believe you are that naive.

Raos will be looking to get out of this with as little loss as possible, I simply cannot see how though.

They could close us down unless their creditors intervene, the footballing authorities will simply watch on and issue us with a points loss if we survive.

That's the good scenario. Sad times indeed.

Good grief 47er. Of course I don't mean my circles. I'm talking about Indian business folk.

[Paul]

A copy of the accounts is attached to download for anyone who wishes. These are completely legitimate and available from Companies House for £1 - I'll avoid the obvious comment!!!!

Rovers Accounts YE June 2013.pdf

[footypix]

The time to worry is when creditors stop being paid, then Administration will come a reality.

If HMRC are investigating the club (as has been suggested) then the prospect of a winding-up petition is very real.

This happened to Stanley a few years ago, until Ilias Khan stepped in at the last minute. Not paying the HMRC is the quickest road to liquidation.

[Bucksrover]

In spite of the keans 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.

Agree with this.

The only positive thing us fans can do now is go to matches and cheer on the team.

If we do go into administration there will be plenty of time to slate the trust, venkys, kean, anderson, singh etc etc. Right now we have a slim chance of getting through this, but the chance may not last beyond this season so i for one will go to every match i can, cheer the team on, and hope they can do something spectacular this season.

[patrickvalery]

I don't want this to sound like a disguised dig at those disgruntled Rovers fans who feel they can no longet attend because of everything which has happened. But now is the time Rovers fans need to step up the PR. Its imperative we are viewed as a loyal, dedicated and vociferous fan base. The spotlight will be on us now as the next Leeds or Portsmouth. The popular consensus needs to be one of pity towards us fans. Not just the odd rare article where the journalist has bothered to do his research and report the truth. The reflex reaction towards Rovers needs to be one of sorrow. I'd wager it isn't that at present due to the inaccurate reports we endured under Kean. I'd urge Rovers fans to attend in their thousands and lift the roof off every home match. As much as it may go against every fibre in your body to do so.

Our current owners are on borrowed time. We are in the shop window now. Albeit we might have to plummet further before we see a change in ownership.