[Archived] Venkys wealth

[tomphil]

For those interested and who haven't seen it Nick Harris has done a piece on the wealth of ownership of clubs and the valuation of clubs. Astonishingly he puts Venky as being worth 2 billion £ and he states the value of Rovers still at the 23 million they bought us for.

I like Harris's stuff but I think he's way off the mark on this one. If it's even near the truth though then the 80 million + debt is indeed chicken feed.

[chris_h]

For those interested and who haven't seen it Nick Harris has done a piece on the wealth of ownership of clubs and the valuation of clubs. Astonishingly he puts Venky as being worth 2 billion £ and he states the value of Rovers still at the 23 million they bought us for.

I like Harris's stuff but I think he's way off the mark on this one. If it's even near the truth though then the 80 million + debt is indeed chicken feed.

It might explain why they continue to service the debt and also explain why we seem to be a forgotten irrelevance to them.

[tomphil]

It might explain why they continue to service the debt and also explain why we seem to be a forgotten irrelevance to them.

As usual with Venkys nothing adds up. Maybe they have an Indian gold mine in the back yard of Pune towers or something.

[47er]

Whats the use of it? If they don't apply part of that wealth to Rovers in a sensible way?

[Gav]

With so much money you have to wonder why they persist running the football club into the ground with bad decision after bad decision.

Get a manager that can get us out of this league, give him a 5m bonus if he gets us up, job done.

But no, they hire a rookie and give him nothing to spend....

[AggyBlue]

Why pay to service a debt if they have so much?

They obviously aren't cash rich but asset rich

[tomphil]

Why pay to service a debt if they have so much?

They obviously aren't cash rich but asset rich

According to Harris they are both. Funnily enough though they never seem to show up on Indian rich lists.

400 mill cash in the bank he replied to someone on twitter.

[blueboy3333]

anyone got a link for this article? thanks in advance.

[tomphil]

anyone got a link for this article? thanks in advance.

Tried to post a link but it messed up somewhere. The mailonsunday is were it was or sportingintellegence on twitter.

[chris_h]

According to Harris they are both. Funnily enough though they never seem to show up on Indian rich lists.

What is their reason for hanging on to the club? They are business people but just stand by doing nothing whilst the club hemorrhages their money. Rovers are not increasing the brand awareness of their enterprises, there is no reflected glory to bask in.

I know nowt but my theory is that saving face is a huge factor in Indian business circles. Giving up on Rovers and pulling out means admitting to failure and they won't have that. I like to think that is the case. That way they can pay off the debt they have accrued and hand the club debt free to the community whilst saving face on the basis of having left the club in a better state than they found it and moving on to other projects.

[tomphil]

It's bonkers it really is. They have a sports nutrition brand as well now plus there was the ambition of opening the express chicken outlets in England. You'd think being in the Prem would be the be all and end all for their brand awareness on many levels yet they haven't really made a massive effort to get the club back there.

Probably some truth in the face saving. Their experiment hasn't worked, they've lost interest but won't give in but are happy to let it bobble along quietly whilst they figure out a get out clause. Unless something happens to reignite their interest that is. Maybe one of them is running it like real life football manager and it gives them something to do and keeps them out of other things

[Kamy100]

Nick has clarified the total wealth £2 billion figure, Total wealth including loads of land (160+ massive different estates in India alone). Nick says that these figures have been verified by a number of independent financial analysts based in India, he also confirms that they have £400 million cash in the bank.

[chaddyrovers]

anyone got a link for this article? thanks in advance.

here the article for you and any other posters who want to read it

http://www.dailymail.co.uk/sport/football/article-3075069/Ten-years-Glazers-arrived-Manchester-United-foreign-investors-collectively-DOUBLED-value-24-English-clubs.html

[Bucksrover]

Nick has clarified the total wealth £2 billion figure, Total wealth including loads of land (160+ massive different estates in India alone). Nick says that these figures have been verified by a number of independent financial analysts based in India, he also confirms that they have £400 million cash in the bank.

So the interest they get on the cash they have in the bank probably covers our losses. Slightly comforted by that.

[blueboy3333]

http://www.dailymail.co.uk/sport/football/article-1347547/The-Bollywood-billionaires-Blackburn.html

Nick Harris article on Venky's wealth from 2011.

Warning: contains images and quotes some people all Rovers fans may find offensive.

[ABBEY]

Plenty of love on here and on ewood for them. Liverpool game proved it venky love was in abundance .

400 million in the bank ? Soon be able to bankrupt the scum dogs then

How can we be worth the same as when they bought us ?

120 m in debt and transfer embargo say otherwise .more venky propaganda by the media .

[Tom]

Never seem any love for them myself or at least very very very little.

Tolerating them out of dire necessity and belief it's better than the alternatives - yes (ironically an argument I've argued against with relation to the managerial situation).

Not sure it is propaganda more fact reporting as nick Harris has been decent with rovers fans and the situation

[ABBEY]

Tom I can categorically swear there was a lot of love on the bbe for them v Liverpool .

How can it be fact we are still worth 23 million ?

[McClarky]

Balaji looks like a Barry White impersonator from an advert for Peppermint Place. Walrus of luuuurrrvvvveeee. The club is totally worthless now, it may in theory be worth £23M but that doesn't take account of the massive debts which must currently stand at about £100M....make that £101M......make that £102M....how long have you got?

[tomphil]

Maybe the 23 mill takes into account the value of the players. Half of it tied up in Rudy/Rhodes.

[Kamy100]

Tom I can categorically swear there was a lot of love on the bbe for them v Liverpool .

How can it be fact we are still worth 23 million ?

I am also trying to understand the £23 million pound figure, maybe it includes assets such as Ewood Park, Brockhall, value of players etc to get to this £23 million valuation?

What I will say is that no way would Nick Harris get involved in any Venky's propaganda. He looks at these kind of issues in a very serious manner and has exposed allsorts of wrong doings in the past related to Football finance.

[tomphil]

I really wish he'd expose what he knows about dastardly and muttleys reign of terror. Help nail those toerags.

[chris_h]

I really wish he'd expose what he knows about dastardly and muttleys reign of terror. Help nail those toerags.

Tantric Man would have him in the High Court so fast his feet wouldn't touch.

[Reedy You're A Star]

Probably injunctioned up to the eyeballs by the Tantric one and his cronies

Edit - great minds..

[chris_h]

I think we've all seen enough of scum being victorious in football related liable cases.