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[Archived] Championship Clubs Debt

PeteJD13

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gumboots World Cup

gumboots

Posted
Posted

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 World Cup

Mercer

Posted
Posted
  On 13/03/2015 at 22:30, yoda said:

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 World Cup

Baz

Posted
Posted
  On 13/03/2015 at 23:31, gumboots said:

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.

  • Backroom
DE. World Cup

DE.

Posted
  • Backroom
Posted
  On 13/03/2015 at 23:31, gumboots said:

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

ABBEY

Posted
Posted
  On 13/03/2015 at 23:23, 47er said:

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 World Cup

thenodrog

Posted
Posted
  On 14/03/2015 at 00:48, ABBEY said:

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?

Stuart World Cup

Stuart

Posted
Posted
  On 13/03/2015 at 23:31, gumboots said:

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

yoda

Posted
Posted
  On 13/03/2015 at 23:32, Mercerman said:

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 World Cup

Mercer

Posted
Posted
  On 14/03/2015 at 14:46, yoda said:

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

yoda

Posted
Posted
  On 14/03/2015 at 15:19, Mercerman said:

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 ?

  • 3 weeks later...
Stuart World Cup

Stuart

Posted
Posted

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.

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