[Archived] Company Accounts Til 31St March 2015

[JHRover]

A new filing at Companies House dated 31st July states that they have put another £22 million of share capital into Venkys London Limited!

This brings their total 'investment'/loss to £123m of shares plus another £16m capital contribution = total of £139 million!

Why, why, why...? What do they get out of this on-going drain on their resources?

Is there any way of scanning the document into here? I've tried looking myself and can't find anything!

[PLJPB]

Is there any way of scanning the document into here? I've tried looking myself and can't find anything!

Web address, then pick whichever filing you want: https://beta.companieshouse.gov.uk/company/07406020/filing-history

[PeteJD13]

When you look at Venkys assets on paper they are worth billions, I have often wondered if BRFC is treated as a loss making company as part of that empire so funds are transferred to where they needed as part of that company structure, so whilst the figures are astronomical and mind boggling as to how they just keep flushing money away. If its part of the wider business the losses would be minimal to Venkys as a company.

That's just my personal opinion and view on it.

[tomphil]

It is strange how money keeps getting stuck in at the top end then continues to bleed out this end. Number of employees at club increases as well. Money kind of seems to just funnel it's way through without anyone in India having any great alarm

[Iceman]

When you look at Venkys assets on paper they are worth billions, I have often wondered if BRFC is treated as a loss making company as part of that empire so funds are transferred to where they needed as part of that company structure, so whilst the figures are astronomical and mind boggling as to how they just keep flushing money away. If its part of the wider business the losses would be minimal to Venkys as a company.

That's just my personal opinion and view on it.

what i said a while back Pete... we are probably a tiny fraction of their business model, and the losses to them are probably not worth crying about. Which explains, why they are not bothered about selling the club just yet. They have so much money, they can wait for a long time, and see if we can get promoted again. I also think, they are a proud bunch, and that walking away would be a sign of failure. Okay they have failed already, but it just seems they are hanging around to see what happens.

My take on it, VENKYS OUT

[JHRover]

Its beyond strange.

Its quite clear that whatever your take on it is, Venkys have a lot of money. Probably billions. There is no way they could continue to subsidise/bankroll this football club otherwise, and no way a commercial bank would continue to allow them to borrow such vast sums of money without solid reassurances that they will get it back at some point.

I don't even find it strange that they are still here and standing the losses. At the end of the day I do think they take responsibility for what has gone on in terms of relegation and us being in the Championship and realise that what happened did so on their watch and it is therefore their duty to at the very least ensure the club continues to function. If they chose to cut their losses and walk away then they would be looking at £150 million gone for nothing. At least if they carry on at £20 million a year hoping for promotion there might come a stage in future where they can get some of their money back.

What seems to be the most odd part for me is the seeming indifference.

If anyone else was pumping such an amount of money in I would expect them to have their finger on the pulse. Be taking an active role in ensuring they got their moneys' worth. But they just seem happy to put the money in and take little-no interest.

If they gave complete control to someone like Shaw, whilst it wouldn't be popular, it would at least make some sense in that they were letting an 'expert' get on with doing things properly. But they don't even do that. They seem to leave Shaw to do the basics but then the serious business - buying and selling players - requires their consideration and approval - which often takes place on a completely different timescale to the rest of the football world.

Usually it would probably be a good thing that they put the money in without much interference and stay on the other side of the world, but to do that you need to employ a top calibre individual who has the power to make decisions on your behalf.

Not even meeting the manager over the summer. What's that all about? Willing to put another £22 million into a mid-table Championship club yet not prepared to even meet with the most important person at the club? Its bonkers.

[tomphil]

Under FFP isn't it only allowed for up to 8 mill to be pumped in by owners or has it changed ?

[yoda]

Under FFP isn't it only allowed for up to 8 mill to be pumped in by owners or has it changed ?

FFP is dead in the water IMO,

Maybe the Venky's are using the club as some kind of long term "savings scheme"

[JHRover]

Under FFP isn't it only allowed for up to 8 mill to be pumped in by owners or has it changed ?

It was £8 million last year, then I think this year it goes down to £6 million, but then from 2016 onwards it is £39 million over 3 years i.e. average of £13 million a year.

I agree that the scheme is dead in the water though. The sooner the League hold their hands up and accept that it isn't working and get rid of it the better. I expect that before the end of this year the system will collapse in advance of the January transfer window.

The QPR appeal will bring it down. We can see with the delaying tactics that something is amiss. The QPR case was meant to be dealt with in June. The League are now probably trying to figure out a way of getting out of this with minimal damage.

The interesting part will be what Rovers and Forest do if FUP collapses. The very least we should be doing is suing for a loss of earnings - season tickets, merchandise and sponsors - brought about by the embargo being in place.

[den]

Under FFP isn't it only allowed for up to 8 mill to be pumped in by owners or has it changed ?

8 mill in total, only 3 mill of that from the owners.

[Athlete]

It was £8 million last year, then I think this year it goes down to £6 million, but then from 2016 onwards it is £39 million over 3 years i.e. average of £13 million a year.

I agree that the scheme is dead in the water though. The sooner the League hold their hands up and accept that it isn't working and get rid of it the better. I expect that before the end of this year the system will collapse in advance of the January transfer window.

The QPR appeal will bring it down. We can see with the delaying tactics that something is amiss. The QPR case was meant to be dealt with in June. The League are now probably trying to figure out a way of getting out of this with minimal damage.

The interesting part will be what Rovers and Forest do if FUP collapses. The very least we should be doing is suing for a loss of earnings - season tickets, merchandise and sponsors - brought about by the embargo being in place.

We should but there's no one at the club with any nous to do anything about it

[ABBEY]

A new filing at Companies House dated 31st July states that they have put another £22 million of share capital into Venkys London Limited!

This brings their total 'investment'/loss to £123m of shares plus another £16m capital contribution = total of £139 million!

Why, why, why...? What do they get out of this on-going drain on their resources?

Rupees washed with Daz? Maybe

[EgyptianPete]

Rupees washed with Daz? Maybe

31 Jul 2015 Statement of capital following an allotment of shares on 20 July 2015

• GBP 122,872,575

View PDF (3 pages)

[Pedro]

I remember in the early days I was laughed at for saying they were billionaires but the party line was at the time that they weren't even that rich.

I also said a lot of stuff that was wrong!

[Baz]

They are wealthy but a long way from billionaires.

If they make business investments and decisions like they have at BRFC, they'll be paupers soon.

[SIMON GARNERS 194]

The Rao's are a strange bunch to me.They literally throw away tens of million while appearing oblivious to the losses.They don't appear to have a hands on role of running their club and seem at ease to employ 'chancers' to oversee the business.

I believe their acquisition of Rovers was nothing more than a PR stunt gone wrong.The new and young wave of rich kids in India flexing their financial muscle to the world.

The 'RAJ ROLLER' incident was nothing more than a p!ss take...you once owned us now we own you lot!