[Archived] Is It Time To Protest Against Venkys?

[den]

Have seen the Twitter stuff about a 'big announcement' from Ewood tomorrow.

What constitutes 'big' I am not quite sure.

I think it's likely there is something afoot as there was some speculation on Saturday about an announcement 'within days'.

I think it's clear the club is 'unsellable'.

Not inconceivable though that they could start to relinquish ownership in a piecemeal fashion but ultimately would necessitate them writing off their investment in its entirety and probably having to guarantee some short term financing.

Could be the beginning of the end of Venky's reign.

Could be that Chris Brown is back in training.

[chaddyrovers]

Over the last few weeks I have heard from a number of sources both at Ewood and Pune that the owners have virtually stopped communicating with the executive at Ewood, this was pretty much backed up by some of the comments that Derek Shaw made at the Q&A re less communication from the owners.

This is just me speculating and I could be on the totally wrong track, but maybe this complete lack of communication and making decisions is the first step of Venky's having decided to sell or dump the club. In last year's accounts they gave a commitment to fund until May 2016, given that promotion this year is not going to happen, maybe they have decided that they will not commit beyond May 2016.

IF that is the case then what happens next? Do they have a viable buyer lined up, will they decide to sell our assets (Rhodes, Marshall and Hanley) and use that finance to keep us a viable business for a further 12 months so that they can find a buyer? Or will they dump us?

Thanks for sharing your info.

Firstly, didn't Shaw, Bowyer and Myers said that some of Venkys Advisors have been over recent weeks at Ewood Park/Brockhall? could this be looking at things and the financial accounts?

Secondly, I have been saying on twitter in the last couple of days that the fans need a major lift and the ONLY way this is new owners and new start. Hopefully Venkys are selling to Ian Battersby/Ian Currie. This would give us the Local owners we need. If they are from overseas then I hope we get owners with a sports ownership background.

I don't think a new manager would give us a major lift that the fans/club needs.

If we get new owners then hopefully we get a new CEO in and he will have a footballing background.

Have seen the Twitter stuff about a 'big announcement' from Ewood tomorrow.

What constitutes 'big' I am not quite sure.

I think it's likely there is something afoot as there was some speculation on Saturday about an announcement 'within days'.

I think it's clear the club is 'unsellable'.

Not inconceivable though that they could start to relinquish ownership in a piecemeal fashion but ultimately would necessitate them writing off their investment in its entirety and probably having to guarantee some short term financing.

Could be the beginning of the end of Venky's reign.

Can you please explain where you heard this and do you trust the source?

did you think that Ian Battersby/Ian Currie would be interested in buying the club?

[Mercer]

Can you please explain where you heard this and do you trust the source? - At the match and yes

did you think that Ian Battersby/Ian Currie would be interested in buying the club? - No, think that ship has sailed and mess now too big; however, if they did, think Bowyer would be gone in an instant.

[broadsword]

Why would anyone want to sink their money into the club right now?

Sink being the operative word. Especially if it didn't give them overall control of the club.

You'd have to be an absolute fruit bap to buy the club now surely? It's a flush that's busted beyond all recognition. I'm not even sure these stupefied abacus-botherers could seel it for a quid right now.

[chaddyrovers]

Can you please explain where you heard this and do you trust the source? - At the match and yes

did you think that Ian Battersby/Ian Currie would be interested in buying the club? - No, think that ship has sailed and mess now too big; however, if they did, think Bowyer would be gone in an instant.

ok thanks for the reply

I guess the source is from club or have good contacts within the club?

If we get a new owner then most likely we will have a new manager. most of them like to bring in own guy.

But we need new owners first. that's the most important thing now for me.

[Roverall]

Interesting. All fingers and toes crossed. Venkys Out.

[Mullionvagrant]

Is it future of Venky's related or future of Bowyer. I hazard a guess it might be a manger sacking?

[Speedie Dived]

Don't understand the local investment element. I could put a billion in but we can't spend a penny of it.

The dream is them selling up lock, stock and barrel.

If they have one decent bone in their body they will have found is decent owners.

[Speedie Dived]

Administration makes more sense

[Mercer]

Why would anyone want to sink their money into the club right now?

Sink being the operative word. Especially if it didn't give them overall control of the club.

You'd have to be an absolute fruit bap to buy the club now surely? It's a flush that's busted beyond all recognition. I'm not even sure these stupefied abacus-botherers could seel it for a quid right now.

As I've said above, I think the club is unsellable.

Therefore, the V's have two alternative options if they want to exit the club.

One option is to go down the insolvency route - do this and their reputation would be further dissed, even in India, so I think they will try to avoid this.

The other option is to 'give' the club away. This could be executed piecemeal over a period of time (to complete by 30 June 2016) and would almost certainly involve Venky's providing some short term financial support/guarantees in order to give the new ownership a chance. I think Rovers' losses for 2015/16, assuming no big name sales, will be £25million. If this option is taken and given we've virtually no chance of promotion this season, I think you will see the sale of Rhodes in January, as a minimum. This option would, to a degree, allow them to save some face and help plug what has become an unsustainable drain on their cash.

[broadsword]

When you say "piecemeal" are you talking actual equity at a knockdown nominal price?

Presumably in exchange for actual control over what goes on at Ewood?

Presumably the financial hit would be a gradual handing-over.

[1arC]

As I've said above, I think the club is unsellable.

Therefore, the V's have two alternative options if they want to exit the club.

One option is to go down the insolvency route - do this and their reputation would be further dissed, even in India, so I think they will try to avoid this.

The other option is to 'give' the club away. This could be executed piecemeal over a period of time (to complete by 30 June 2016) and would almost certainly involve Venky's providing some short term financial support/guarantees in order to give the new ownership a chance. I think Rovers' losses for 2015/16, assuming no big name sales, will be £25million. If this option is taken and given we've virtually no chance of promotion this season, I think you will see the sale of Rhodes in January, as a minimum. This option would, to a degree, allow them to save some face and help plug what has become an unsustainable drain on their cash.

It makes sense for them to bail put by giving the club away to an interested and caring party. If they did this I reckon, they would have to finance things still for a while, or pay someone a lump sum to take it off their hands. That may sound crazy on the face of it, but assuming they are losing £2m per month still and see no end in sight, but do have some decency and morals. Give the club away, pump £20 Million more in and then walk away. If they are as rich as people suggest and they really have no interest in the club, that could be an escape route that works for everyone. It will mean some hasty work from any new owners, but could be the start of a new era if that did happen. Pure speculation on my part, but who knows?

[47er]

Have seen the Twitter stuff about a 'big announcement' from Ewood tomorrow.

What constitutes 'big' I am not quite sure.

I think it's likely there is something afoot as there was some speculation on Saturday about an announcement 'within days'.

I think it's clear the club is 'unsellable'.

Not inconceivable though that they could start to relinquish ownership in a piecemeal fashion but ultimately would necessitate them writing off their investment in its entirety and probably having to guarantee some short term financing.

Could be the beginning of the end of Venky's reign.

Sadly I've learned not to get my hopes up. These rumours come and go but nothing changes.

Good to see an increase on the MB of posters realising we will never get anywhere with Venkys other than a tour of the lower leagues.

All hope of them doing anything positive has entirely dissipated. I get the impression more posters are coming round to the view that administration is inevitable and that one day, in a lower league probably, we will start all over again.

Anything is better than this living death by a thousand cuts.

[Mercer]

When you say "piecemeal" are you talking actual equity at a knockdown nominal price?

Presumably in exchange for actual control over what goes on at Ewood?

Presumably the financial hit would be a gradual handing-over.

A new ownership could, initially, take say a 10% shareholding for a nominal value.

Whoever takes this on is probably not in a position to hit the ground running, given the club is haemorrhaging cash, and would want to start putting their own structures and plans in place. The objective would then be to assume full ownership by 1 July 2016 whilst at the same time ensuring that sufficient working capital was in place to get through at least the first 12 months of their ownership (this is where they would have to make an input). Between now and then is where the financial support/guarantees from Venky's would be needed. Clearly, Venky's would want to stem their cash losses and the only way they could do that would be by the sale of a players or players in the January window. A tough challenge for new owners but given they'd been virtually given the club, one I am sure they would accept.

Clearly, this can't happen overnight and therefore my suggestion that this could be a gradual handover which would have to start with an announcement sometime soon. If I am right, it could be a surprising new ownership.

[chaddyrovers]

. If I am right, it could be a surprising new ownership.

Local based or overseas you think?

[Gav]

No disrespect mercer but you do talk a lot of bunkum pal, you have absolutely no foundation in which to base this argument.

I'll give you one thing though you keep them coming, you've not got anything right so far, but the law of averages say you'll get one right soon, let's hope it this.

[1arC]

Perhaps the Ian's?

[1arC]

No disrespect mercer but you do talk a lot of bunkum pal, you have absolutely no foundation in which to base this argument.

I'll give you one thing though you keep them coming, you've not got anything right so far, but the law of averages say you'll get one right soon, let's hope it this.

This one makes sense in my view. If there is a big announcement tomorrow, then who knows. This has to come to an end.

[47er]

No disrespect mercer but you do talk a lot of bunkum pal, you have absolutely no foundation in which to base this argument.

I'll give you one thing though you keep them coming, you've not got anything right so far, but the law of averages say you'll get one right soon, let's hope it this.

Amen to that! The only hope we have I believe.

[Waggy76]

I cannot help thinking if there is an announcement sometime Wednesday ,it will be the sacking of Bowyer !

Do not understand the financial affairs that Mercerman talks about but I hope he is correct ! Cos Bowyer will be gone soon after !

[chaddyrovers]

I cannot help thinking if there is an announcement sometime Wednesday ,it will be the sacking of Bowyer!

Sacking a manager a day before a game

[DE.]

Sacking a manager a day before a game

Would suit Venky's perfectly.

[Speedie Dived]

Being cautious, as we have been here before but surely something 'big' would have leaked by now?

[chor808]

My guess is nothing happens tomorrow based on the last dozen or so false alarms. Let's hope it does. I suprised the message board is still up after a rumour like this one flying around. I guess this is not the most read thread....

[Waggy76]

Sacking a manager a day before a game

Why not ?