[Archived] Venkys wealth

[thenodrog]

Not that far off OJW.

Now back to my lobster flavoured crisps...

Miles off,........ btw enjoy the crisps and have two packets even but goodness only knows where you might find a pint of lager to go with them around Bastwell.

[perthblue02]

They seem to have half the retired generals of the Indian army in their management. Amazed how anyone could put one over them

Like the 99 % of India they probably do not know who Blackburn Rovers are, doubt we get mentioned in the shareholding meetings , but once the academy gets built over there and we dominate the Indian football market after the all out marketing assault by the V's, as long as they and their project partners don't do anything stupid I am sure they will take notice

Sorry I had a flashback thought it was November 2010

[Kamy100]

My understanding is that they own a lot of property/land which is not listed under Venkys India LTD, this is registered directly with the family and split between Mrs D and the 2 chuckle brothers. Their father was astute, he saw that land in around Pune and Rajasthan was relatively cheap and foresaw the expansion that would occur in these 2 areas, so he used the profits generated from his thriving poultry business to pay a huge amount of land, which is now prime real estate. After his death this land was split between Mrs D and her 2 brothers. It is just shame for us that the Father's business acumen doesn't seem to have been passed to his children judging by the "business" decisions they have made in relation to running Rovers.

Small portions of the land registered to Balaji I believe has been used as guarantees to State Bank of India for the loans which have funded Rovers over the last few years.

[1arC]

My understanding is that they own a lot of property/land which is not listed under Venkys India LTD, this is registered directly with the family and split between Mrs D and the 2 chuckle brothers. Their father was astute, he saw that land in around Pune and Rajasthan was relatively cheap and foresaw the expansion that would occur in these 2 areas, so he used the profits generated from his thriving poultry business to pay a huge amount of land, which is now prime real estate. After his death this land was split between Mrs D and her 2 brothers. It is just shame for us that the Father's business acumen doesn't seem to have been passed to his children judging by the "business" decisions they have made in relation to running Rovers.

Small portions of the land registered to Balaji I believe has been used as guarantees to State Bank of India for the loans which have funded Rovers over the last few years.

I think it has been said before the fact that the funding is secured on the land in India, should give Rovers fans a crumb of comfort. Belaji knows right now, that he won't get any of the funds lent to the club back right now and the only way he will, is if the club start to make money again. If he defaults on the loans, it is that land not Rovers that the bank will be calling in.

[Athlete]

My understanding is that they own a lot of property/land which is not listed under Venkys India LTD, this is registered directly with the family and split between Mrs D and the 2 chuckle brothers. Their father was astute, he saw that land in around Pune and Rajasthan was relatively cheap and foresaw the expansion that would occur in these 2 areas, so he used the profits generated from his thriving poultry business to pay a huge amount of land, which is now prime real estate. After his death this land was split between Mrs D and her 2 brothers. It is just shame for us that the Father's business acumen doesn't seem to have been passed to his children judging by the "business" decisions they have made in relation to running Rovers.

Small portions of the land registered to Balaji I believe has been used as guarantees to State Bank of India for the loans which have funded Rovers over the last few years.

Land rich not cash rich..

I think it has been said before the fact that the funding is secured on the land in India, should give Rovers fans a crumb of comfort. Belaji knows right now, that he won't get any of the funds lent to the club back right now and the only way he will, is if the club start to make money again. If he defaults on the loans, it is that land not Rovers that the bank will be calling in.

Due to UK law you may find this wrong as the land is the very last thing the BOI would go after someone explains it better in the accounts thread

[Exiled in Toronto]

My understanding is that they own a lot of property/land which is not listed under Venkys India LTD, this is registered directly with the family and split between Mrs D and the 2 chuckle brothers. Their father was astute, he saw that land in around Pune and Rajasthan was relatively cheap and foresaw the expansion that would occur in these 2 areas, so he used the profits generated from his thriving poultry business to pay a huge amount of land, which is now prime real estate. After his death this land was split between Mrs D and her 2 brothers. It is just shame for us that the Father's business acumen doesn't seem to have been passed to his children judging by the "business" decisions they have made in relation to running Rovers.

Small portions of the land registered to Balaji I believe has been used as guarantees to State Bank of India for the loans which have funded Rovers over the last few years.

As well as this, I seem to recall that Venky's Ltd is only one of twenty odd corporate entities they own or are majority shareholders in.

Here's where I read it: http://www.venkys.com/

[chris_h]

Athlete not having it for some reason.

Land rich not cash rich..

Due to UK law you may find this wrong as the land is the very last thing the BOI would go after someone explains it better in the accounts thread

Who is this 'someone'?

[Exiled in Toronto]

Athlete not having it for some reason.

Who is this 'someone'?

Hold onto your sides - Mercerman

[chris_h]

Hold onto your sides - Mercerman

I asked if it was him last night but Athlete went schtum. No bloody wonder!

[47er]

Does it matter whether Venkys are fabulously rich or not? If they are look where it has got us.

Does anyone think they are going to change, become astute and take us back to the Premiership?

Balaji is the only one interested and he's as bright as a button eh? The way our team selection changed from game to game last season could convince me he was picking it!

No good can ever come from them, just jam tomorrow (always).

[ABBEY]

#VENKYSCUMOUT

[EgyptianPete]

Does it matter whether Venkys are fabulously rich or not? If they are look where it has got us.

Does anyone think they are going to change, become astute and take us back to the Premiership?

Balaji is the only one interested and he's as bright as a button eh? The way our team selection changed from game to game last season could convince me he was picking it!

No good can ever come from them, just jam tomorrow (always).

Well think on this- Defabet or whatever they are called out of the blue announce a multi million pound sponsorship with Rovers, never happened as far as i know when we were in the prem, just standard deals i thought, but no doubt one of you guys will put me right, BUT Asian company, maybe being cough cough sponsored by the v----kys. stranger things have happened.

Conspiracy theory

[Exiled in Toronto]

Does it matter whether Venkys are fabulously rich or not? If they are look where it has got us.

Does anyone think they are going to change, become astute and take us back to the Premiership?

Balaji is the only one interested and he's as bright as a button eh? The way our team selection changed from game to game last season could convince me he was picking it!

No good can ever come from them, just jam tomorrow (always).

Irrespective of all that - which has filled every thread for the last four years but thanks for adding it to the debate - how wealthy they are (or not) does have quite a bearing on whether (or not) the club will be wound up due to the debt.

[JHRover]

The difficulty is that Blackburn Rovers are not like most other clubs who are owned by one or two wealthy individuals. We are owned by a company, through another company, which is ultimately owned by four people who each have their own businesses and

This therefore makes estimations of their total wealth very difficult, if not impossible.

What is quite obvious is that Venkys are an incredibly wealthy group of people. They appear to have a vast range of business interests, property and land and as such a precise figure for their combined wealth when you throw everything into one pot is very difficult to quantify.

What cannot be doubted is that they are worth a lot of money, at least in the hundreds of millions if not billions of pounds.

Lets be clear. There is no way any commercial bank would continue to provide millions of pounds in loans to fund a football club like Blackburn Rovers without fairly cast iron guarantees in place. Whatever land or assets are being used as security, they must be worth a lot, or the bank must have a lot of business with the family. No commercial bank, certainly not one the size of the Bank of India, would allow these losses to continue at a Championship football club, without being safe in the knowledge that someone or something could cover that debt.

The club itself would be virtually worthless to the Bank of India. Even if it seized all the clubs assets from Venkys (which doesn't appear to be possible under the arrangement) they wouldn't get anywhere near the £60-70 million range of what they have lent to Venkys in the last few years.

There is one thing I am struggling to understand though.

There seems to be consensus that Balaji is/was the driving force behind them getting involved in football and buying the club. This is supported by him supposedly being the 'football mad' member of the family who goes to more games than any of the others and is mates with Ronaldinho etc.

If it is the case that Balaji is the only one interested in football, then how on earth did he manage to persuade the other three - Mrs Desai, Mr Desai and Venkatesh, to themselves get involved in a sport they knew nothing about?

Following on from this, if it is correct that it is Balaji's personal wealth and land that is guaranteeing the loans to the Bank of India and thus keeping the club in business, then how can it be that Mrs Desai is the one running the show?

There is no doubt that she is the ultimate power broker at the football club. Kean knew that, as does Bowyer. She is the one who they go to meet face to face, the one who calls the shots. So how come she is the boss if Balaji is the football expert and it is Balaji's money funding the club? How does that make sense?

Why does she want to continue making decisions relating to football when she herself admits to having no knowledge of the sport and considers her brother to be the expert?

Why doesn't she just hand over running the club to Balaji and tell him to sort it out as its his money on the line? Surely Balaji could put his foot down and tell his sister to let him play with 'his toy'.

It just doesn't add up.

[Exiled in Toronto]

The difficulty is that Blackburn Rovers are not like most other clubs who are owned by one or two wealthy individuals. We are owned by a company, through another company, which is ultimately owned by four people who each have their own businesses and

This therefore makes estimations of their total wealth very difficult, if not impossible.

What is quite obvious is that Venkys are an incredibly wealthy group of people. They appear to have a vast range of business interests, property and land and as such a precise figure for their combined wealth when you throw everything into one pot is very difficult to quantify.

What cannot be doubted is that they are worth a lot of money, at least in the hundreds of millions if not billions of pounds.

Lets be clear. There is no way any commercial bank would continue to provide millions of pounds in loans to fund a football club like Blackburn Rovers without fairly cast iron guarantees in place. Whatever land or assets are being used as security, they must be worth a lot, or the bank must have a lot of business with the family. No commercial bank, certainly not one the size of the Bank of India, would allow these losses to continue at a Championship football club, without being safe in the knowledge that someone or something could cover that debt.

I seem to recall Philipl (RIP) did a lot of postings when Rovers employees started being paid through the Bank of India, which suggests to me the bank's relationship with the family must be a lot more pervasive than lender for a footy club, so I suspect the security is both tangible (land or whatever) and intangible (relationship with a huge company)

The club itself would be virtually worthless to the Bank of India. Even if it seized all the clubs assets from Venkys (which doesn't appear to be possible under the arrangement) they wouldn't get anywhere near the £60-70 million range of what they have lent to Venkys in the last few years.

There is one thing I am struggling to understand though.

There seems to be consensus that Balaji is/was the driving force behind them getting involved in football and buying the club. This is supported by him supposedly being the 'football mad' member of the family who goes to more games than any of the others and is mates with Ronaldinho etc.

If it is the case that Balaji is the only one interested in football, then how on earth did he manage to persuade the other three - Mrs Desai, Mr Desai and Venkatesh, to themselves get involved in a sport they knew nothing about?

Following on from this, if it is correct that it is Balaji's personal wealth and land that is guaranteeing the loans to the Bank of India and thus keeping the club in business, then how can it be that Mrs Desai is the one running the show?

There is no doubt that she is the ultimate power broker at the football club. Kean knew that, as does Bowyer. She is the one who they go to meet face to face, the one who calls the shots. So how come she is the boss if Balaji is the football expert and it is Balaji's money funding the club? How does that make sense?

Why does she want to continue making decisions relating to football when she herself admits to having no knowledge of the sport and considers her brother to be the expert?

Why doesn't she just hand over running the club to Balaji and tell him to sort it out as its his money on the line? Surely Balaji could put his foot down and tell his sister to let him play with 'his toy'.

It just doesn't add up.

I also recall someone (Kamy?) posting about, while Balaji might have been the route in, Anderson and his boss Huber sold the idea to the family as a whole

[Gav]

Miles off,........ btw enjoy the crisps and have two packets even but goodness only knows where you might find a pint of lager to go with them around Bastwell.

Try The Orchard Working men's club right in the middle of Bastwell, over 100yrs old.

[ABBEY]

The difficulty is that Blackburn Rovers are not like most other clubs who are owned by one or two wealthy individuals. We are owned by a company, through another company, which is ultimately owned by four people who each have their own businesses and

This therefore makes estimations of their total wealth very difficult, if not impossible.

What is quite obvious is that Venkys are an incredibly wealthy group of people. They appear to have a vast range of business interests, property and land and as such a precise figure for their combined wealth when you throw everything into one pot is very difficult to quantify.

What cannot be doubted is that they are worth a lot of money, at least in the hundreds of millions if not billions of pounds.

Lets be clear. There is no way any commercial bank would continue to provide millions of pounds in loans to fund a football club like Blackburn Rovers without fairly cast iron guarantees in place. Whatever land or assets are being used as security, they must be worth a lot, or the bank must have a lot of business with the family. No commercial bank, certainly not one the size of the Bank of India, would allow these losses to continue at a Championship football club, without being safe in the knowledge that someone or something could cover that debt.

I seem to recall Philipl (RIP) did a lot of postings when Rovers employees started being paid through the Bank of India, which suggests to me the bank's relationship with the family must be a lot more pervasive than lender for a footy club, so I suspect the security is both tangible (land or whatever) and intangible (relationship with a huge company)

The club itself would be virtually worthless to the Bank of India. Even if it seized all the clubs assets from Venkys (which doesn't appear to be possible under the arrangement) they wouldn't get anywhere near the £60-70 million range of what they have lent to Venkys in the last few years.

There is one thing I am struggling to understand though.

There seems to be consensus that Balaji is/was the driving force behind them getting involved in football and buying the club. This is supported by him supposedly being the 'football mad' member of the family who goes to more games than any of the others and is mates with Ronaldinho etc.

If it is the case that Balaji is the only one interested in football, then how on earth did he manage to persuade the other three - Mrs Desai, Mr Desai and Venkatesh, to themselves get involved in a sport they knew nothing about?

Following on from this, if it is correct that it is Balaji's personal wealth and land that is guaranteeing the loans to the Bank of India and thus keeping the club in business, then how can it be that Mrs Desai is the one running the show?

There is no doubt that she is the ultimate power broker at the football club. Kean knew that, as does Bowyer. She is the one who they go to meet face to face, the one who calls the shots. So how come she is the boss if Balaji is the football expert and it is Balaji's money funding the club? How does that make sense?

Why does she want to continue making decisions relating to football when she herself admits to having no knowledge of the sport and considers her brother to be the expert?

Why doesn't she just hand over running the club to Balaji and tell him to sort it out as its his money on the line? Surely Balaji could put his foot down and tell his sister to let him play with 'his toy'.

It just doesn't add up.

I also recall someone (Kamy?) posting about, while Balaji might have been the route in, Anderson and his boss Huber sold the idea to the family as a whole

I didn't know Philip l had died RIP fella

[Athlete]

I asked if it was him last night but Athlete went schtum. No bloody wonder!

Mercerman is a qualified UK accountant so is another poster on here who also analysed the accounts with the same outcome...

Whichever way you look at it the club is up to its neck in debts and losing around 2 million a month.. You don't have to be a brain surgeon or mathematics genius to know that won't carry on.. Be interesting to see what happens when the final parachute payments run out next year..

But it will be fine GB will have us in the premership

If you cannot deduce the basics of the accounts or don't believe them on the thread you can access them from companies house

Irrespective of all that - which has filled every thread for the last four years but thanks for adding it to the debate - how wealthy they are (or not) does have quite a bearing on whether (or not) the club will be wound up due to the debt.

That depends on many factors.. When they say enough is enough for instance or the external debts who are they too and what do they include

I didn't know Philip l had died RIP fella

RIP

[Amo]

If that's true about PhilipL, then we should probably have a thread where people can pay their respects.

[den]

I'm sure Philipl posted on Facebook this morning.

[Athlete]

I asked if it was him last night but Athlete went schtum. No bloody wonder!

Believe what you want.. The accounts are there in black and white

Mercer is bang on this time a lot on here hope he wasn't but he is

the only thing no-one seems to know about is external debts

[Paul]

If that's true about PhilipL, then we should probably have a thread where people can pay their respects.

Philip posted on Facebook less than 12 hours ago. I very much doubt this is true and if so is very sudden

[Rover_Shaun]

I assume RIP is in reference to his forum absence?

[K-Hod]

Mercerman is a qualified UK accountant so is another poster on here who also analysed the accounts with the same outcome...

Whichever way you look at it the club is up to its neck in debts and losing around 2 million a month.. You don't have to be a brain surgeon or mathematics genius to know that won't carry on.. Be interesting to see what happens when the final parachute payments run out next year..

But it will be fine GB will have us in the premership

If you cannot deduce the basics of the accounts or don't believe them on the thread you can access them from companies house

That depends on many factors.. When they say enough is enough for instance or the external debts who are they too and what do they include

RIP

Didn't Kamy say he had his information from an Indian guy who was an expert in that field (no pun intended)? Surely if that's true, his knowledge would trump Mercerman's? Not saying Mercer knows nothing, but Kamy has rarely been wrong with his info, and surely we should trust the word of an expert in Indian finances than UK if that's what the security is against??

[Paul]

I didn't know Philip l had died RIP fella

I think there could be some misinterpretation here. I suggest the poster may have meant in relation to the message board.

Please be careful.