[Archived] Venkys wealth

[Athlete]

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??

That's where it gets confusing as Venky's London is UK so subject to UK law not Indian a accountant via work a football fan said that any bank or creditor's would go after Rovers assets 1st..

But if Venkys London was wrapped up it could get very complicated

Whichever way you look at it isn't good reading

[Gav]

Heart skipped a beat then, I don't even know Philipl really but he was a regular poster and we had some decent debate/banter.

Glad he's still alive and kicking.

[Athlete]

Heart skipped a beat then, I don't even know Philipl really but he was a regular poster and we had some decent debate/banter.

Glad he's still alive and kicking.

Second that Gav

[Paul]

Philip is alive, well and highly amused.

[arbitro]

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

Multi million sponsorship - have I missed something?

[ABBEY]

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

Please be careful.

Good to hear

[Exiled in Toronto]

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

Just to clarify, as far as I know he is alive and well, I was referring to his prolonged absence from here

[Don Said]

Multi million sponsorship - have I missed something?

Yes

[Brfcrule1]

Second that Gav

Thirded! Gav

[thenodrog]

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.

imo he allowed Jerome Anderson in to do that. Remember the phrase that was continually trolled out during negotiations to allay Mrs Desai's apprehensions "whatever happens you cannot lose money on this deal"

[arbitro]

Yes

Well I knew about the sponsorship deal but not any specifics. Do enlighten me.

[Kamy100]

I talked to Philip this afternoon and he is alive, well and enjoying life in Malta.

[ABBEY]

ha ...i saw RIP and thought......

[chris_h]

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

You seem to desperately hope that Rovers are about to be plunged into a existential crisis for some reason. God only knows what your motivation is for this or why you feel the need to convince everybody else of your apocalyptic agenda.

The debt is acknowledged by everybody I believe and it is, of course, a concern. We have however, been informed by RELIABLE sources that the owners can cover the debt and it won't be called in by the bank. You can't seem to accept this, possibly because it doesn't fit with your agenda. I was concerned at one stage that you actually knew some worrying information but your stance seems to be based on information provided by somebody who could be generously described as having little credibility. That has come as a relief.

You do keep going though. Again with the 'external debt'. I asked you about this recently but you deflected the issue so I'll try again. What is this 'external debt'? How much is it and to whom is it owed? What evidence do you have of it that it is as you say it is? I'm not asking for chapter and verse, just something that might offer some insight as to what these 'external debts' are. Please don't give me another research project, you are the one who is offering 'external debts' as something sinister in Rovers near future therefore it is encombant upon you to provide evidence of it.

You either know what this 'external debt' is and what its potential ramifications are or you don't. If you do and you provide compelling evidence then I will accept what you say and doff my cap to you. In a nutshell, put up or shut up.

[ChrisyG]

Well I knew about the sponsorship deal but not any specifics. Do enlighten me.

http://www.lancashiretelegraph.co.uk/sport/12943828.Blackburn_Rovers_announce_multi_million_pound_shirt_sponsorship_deal_with_Dafabet/

[Gav]

I talked to Philip this afternoon and he is alive, well and enjoying life in Malta.

He's back in Malta Kamy? Not London?

[Mike E]

Get him back on here! As long as he doesn't go all 'Xabi Alonso' or 'Rafa' on us

[Roverall]

Philip was a very interesting poster. Hope he comes back (from the dead)

[tomphil]

Enjoyed PhilipL's posts both football wise and the other stuff. Hope he get's time to return next season.

[Athlete]

You seem to desperately hope that Rovers are about to be plunged into a existential crisis for some reason. God only knows what your motivation is for this or why you feel the need to convince everybody else of your apocalyptic agenda.

The debt is acknowledged by everybody I believe and it is, of course, a concern. We have however, been informed by RELIABLE sources that the owners can cover the debt and it won't be called in by the bank. You can't seem to accept this, possibly because it doesn't fit with your agenda. I was concerned at one stage that you actually knew some worrying information but your stance seems to be based on information provided by somebody who could be generously described as having little credibility. That has come as a relief.

You do keep going though. Again with the 'external debt'. I asked you about this recently but you deflected the issue so I'll try again. What is this 'external debt'? How much is it and to whom is it owed? What evidence do you have of it that it is as you say it is? I'm not asking for chapter and verse, just something that might offer some insight as to what these 'external debts' are. Please don't give me another research project, you are the one who is offering 'external debts' as something sinister in Rovers near future therefore it is encombant upon you to provide evidence of it.

You either know what this 'external debt' is and what its potential ramifications are or you don't. If you do and you provide compelling evidence then I will accept what you say and doff my cap to you. In a nutshell, put up or shut up.

In a nutshell you're obviously poor at maths now go and play with your didgeridoo or boomerang ... If you believe the owners will cover the debts your on another planet not down under as for external debts how many times do you have to be told they are to other people or companies of which are Undisclosed and can be as small or large amounts but all add up to a considerable sum

I for one don't want anything to go wrong with BRFC but ever since these charlatans rocked up.. Let's just say things aren't what they should be

[Athlete]

http://www.lancashiretelegraph.co.uk/sport/12943828.Blackburn_Rovers_announce_multi_million_pound_shirt_sponsorship_deal_with_Dafabet/

These guys have gone massive in an increasingly big market the online gambling world is big big business

[roverzee]

In a nutshell you're obviously poor at maths now go and play with your didgeridoo or boomerang ... If you believe the owners will cover the debts your on another planet not down under as for external debts how many times do you have to be told they are to other people or companies of which are Undisclosed and can be as small or large amounts but all add up to a considerable sum

How would you have termed that racially inspired insult if he was in India or Pakistan, rather than Australia?

You can't even read or write, so I doubt very much you can count.

Which makes your daily repetition of the same allegations increasingly tiresome, especially when you can't even explain them yourself but constantly refer us back to Mercerman's analysis, which we all know is hopelessly skewed - and some of us know is completely incorrect.

[47er]

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.

So its just a matter of time in your view then?

Stockholm Syndrome again. That's filled up the MB over the years too.

[chris_h]

In a nutshell you're obviously poor at maths now go and play with your didgeridoo or boomerang ... If you believe the owners will cover the debts your on another planet not down under as for external debts how many times do you have to be told they are to other people or companies of which are Undisclosed and can be as small or large amounts but all add up to a considerable sum

I for one don't want anything to go wrong with BRFC but ever since these charlatans rocked up.. Let's just say things aren't what they should be

Each and every time I call you out and put you in a position where you have to explain yourself you resort to childish remarks about didgeridoos or kangaroos. Very telling.

As for your 'external debt' you've now had ample opportunity to explain what this means and have failed to do so. I think it's reasonable to deduce from that therefore that your 'external debt' is like the Bogey Man - it doesn't exist but is handy for scaring people.

If you insist on constantly envoking this Bogey Man then you'll need to find some more Antipodean insults.

[Don Said]

Well I knew about the sponsorship deal but not any specifics. Do enlighten me.

http://m.lancashiretelegraph.co.uk/sport/12943828.Blackburn_Rovers_announce_multi_million_pound_shirt_sponsorship_deal_with_Dafabet/