[Archived] Championship Clubs Debt

[47er]

Pretend its not there and it'll go away eh Parson?

[gumboots]

But worrying about it won't change it. Surely that's what he's saying. You can worry yourself into an early grave over it but it still won't make a difference. Unless you or I discover something that makes us mega mega rich and can persuade mrs desai to sell and wants to own a football club that's 80 million in debt, then there is precious little we can do. The facts are cause for concern and we can't lose sight of them, but worrying is pointless.

[Mercer]

I thought they had lent to Venkys London, was it not about £20 million ? with £80 million being converted to shares

You will see details of the bank lending in the accounts for Blackburn Rovers Football and Athletic club Limited (30 June 2014).

Venky's London has an issued share capital of about £85million of which approx. £60million had been lent to the football club at 30 June 2014 (cash to keep the club afloat).

[Baz]

But worrying about it won't change it. Surely that's what he's saying. You can worry yourself into an early grave over it but it still won't make a difference. Unless you or I discover something that makes us mega mega rich and can persuade mrs desai to sell and wants to own a football club that's 80 million in debt, then there is precious little we can do. The facts are cause for concern and we can't lose sight of them, but worrying is pointless.

If your kids where ill (god forbid), would you be worried?

IMO Its too simplistic to say you shouldn't worry about things you cannot influence.

[DE.]

But worrying about it won't change it. Surely that's what he's saying. You can worry yourself into an early grave over it but it still won't make a difference. Unless you or I discover something that makes us mega mega rich and can persuade mrs desai to sell and wants to own a football club that's 80 million in debt, then there is precious little we can do. The facts are cause for concern and we can't lose sight of them, but worrying is pointless.

It might be pointless to worry, but if you care about something or someone you worry about such things anyway. That's just how it works.

[ABBEY]

Pretend its not there and it'll go away eh Parson?

As benny hill sang on ernies B side

Put your fingers in your ears and go tingalingaloo

[thenodrog]

As benny hill sang on ernies B side

Put your fingers in your ears and go tingalingaloo

Absolutely mind blowing that the two average but spirited Championship teams facing each other on Wednesday night are circa £200,000,000 in debt!!!

How tf has it ever got to this?

[ABBEY]

By letting idiots run football .

[Stuart]

But worrying about it won't change it. Surely that's what he's saying. You can worry yourself into an early grave over it but it still won't make a difference. Unless you or I discover something that makes us mega mega rich and can persuade mrs desai to sell and wants to own a football club that's 80 million in debt, then there is precious little we can do. The facts are cause for concern and we can't lose sight of them, but worrying is pointless.

There are different types of worry but in most cases having a contingency can make a big difference. Worry is the start of that.

Although I know it not to be true, there are times when Parson's post give the impression that liquidation would be met with a shrug and a 'we are where we are'.

At least by planning for what happens after Venkys leave there might be a chance for us to still have a club to follow afterwards.

With respect, there are some on here who only look backward at Rovers and think how lucky they were, and that we'll (rather they'll) never have that again. People of a certain age who may have seen 90% of the Rovers that they will, and just want to enjoy the last few years while it lasts. Like someone ticking off their days to retirement, not wanting to change the status quo. Is that the legacy we want to have for a couple of thousand of our kids?

[yoda]

You will see details of the bank lending in the accounts for Blackburn Rovers Football and Athletic club Limited (30 June 2014).

Venky's London has an issued share capital of about £85million of which approx. £60million had been lent to the football club at 30 June 2014 (cash to keep the club afloat).

So who owns the shares, owns the debt

[Mercer]

So who owns the shares, owns the debt

Broadly, at 30 June 2014, Rovers' total creditors, including provision for liabilities, stood at £106million of which £59million (55%) was owed to the parent undertaking (Venky's London). No comfort whatsoever in these numbers.

[yoda]

Broadly, at 30 June 2014, Rovers' total creditors, including provision for liabilities, stood at £106million of which £59million (55%) was owed to the parent undertaking (Venky's London). No comfort whatsoever in these numbers.

I wasn't looking for comfort because I don't think there is any. Just trying to clarify who owns the debt.

Venky's London is owned by the Rao 100% I believe is it not ?

Is the other 45% accounted for by the share issue ?

[tomphil]

The rest is external debt I think.

[Mercer]

The rest is external debt I think.

Correct

[yoda]

Absolutely mind blowing that the two average but spirited Championship teams facing each other on Wednesday night are circa £200,000,000 in debt!!!

How tf has it ever got to this?

It has gone up somewhat now

http://www.bbc.co.uk/sport/0/football/32138946

[Exiled in Toronto]

It has gone up somewhat now

http://www.bbc.co.uk/sport/0/football/32138946

Even more staggering is that we both rode the Premiership Express for years. Made a lot of average players multi millionaires though

[Stuart]

Even more staggering is that we are worrying because we have a third of Bolton's debt - and we are the ones with a transfer embargo. FFP is the most bonkers rule ever, and it still managed to outfox our board.

[Rover_Shaun]

FFP isn't about total debts it's about annual losses

Hell we'd be under an embargo forever if it was based on total debt