[Archived] Why Are Venkys Here?

[Iceman]

I'm not a financial expert though I do have a little knowledge (which is probably more dangerous than being an expert!) but isn't this sort of financial engineering illegal and is it not just money laundering in another guise ?

There have been a number of article in the press recently on how foreign companies and individuals (many of them extremely dodgy) are using the high-end London property market to launder cash and it seems to me Rovers are being used in the same way, merely as vehicle for clever accountants in which to move money either to evade tax or get round international accountancy rules

It happens pretty much, in most industries, when it concerns tax. The less that are disclosed, the better. However, I doubt its a tax issue, but rather just trying to manipulate figures, to either make it as if our debt are lower than what it should be.

I doubt the accountants, would have resigned over footballing matters, so it must have been over something dodgy on the financial side.

Besides, it must have been what was asked of them, and not what they did already. Figures correctly entetered, cannot manipulate itself, because the numbers more often than not are filed and declared at a specific time of the year.(mostly af the end of a financial year)

Auditors are a not the easiest to convince, in order to get them to manipulate numbers. They also get paid well anyway, so won't want to create a situation where they are accused of fraud themselves.

[yoda]

It happens pretty much, in most industries, when it concerns tax. The less that are disclosed, the better. However, I doubt its a tax issue, but rather just trying to manipulate figures, to either make it as if our debt are lower than what it should be.

I doubt the accountants, would have resigned over footballing matters, so it must have been over something dodgy on the financial side.

Besides, it must have been what was asked of them, and not what they did already. Figures correctly entetered, cannot manipulate itself, because the numbers more often than not are filed and declared at a specific time of the year.(mostly af the end of a financial year)

Auditors are a not the easiest to convince, in order to get them to manipulate numbers. They also get paid well anyway, so won't want to create a situation where they are accused of fraud themselves.

Or maybe their 5 year contract is up

[Iceman]

Or maybe their 5 year contract is up

Or that too

[Hasta]

Just looking at this thread and the salary list for the first time.

No way on this earth was Bradley Orr, with his rewarded contract after we were relegated, on only £4k.

Also Wheelock confirmed Orrs contract, which we thought expired this year, may have ran to 2016. This list says August 2017 !

[alcd]

The salaries on the celebrity list website look realistic (apart from Robinson) but probably don't include win bonuses which can be substantial and also exclude other payroll costs that would be included in the accounts figure of c£30m. For example NIC at 12.8% and provisions for paying off trash such as Best and Murphy that would have been booked in the 2013/14 club accounts and at that time these provisions were stated total c£16m. The wages and salaries (including employers NIC etc) of non-playing employees are unlikely to be less than £4m as even if say 200 were paid an average of only £20k the total would be £4m. Then add on the directors remuneration (the Indians presumably get paid) and the senior coaching staff (such as Bowyer) and the various commercial managers and accountants. However for 2015/16, having offloaded and paid off the crap the players wage bill included in those accounts should be about the guesstimate figure of £16m to which is added at least £5m for the non-playing staff. If the total payroll is say £21m the other major costs are general overheads (except payroll), interest paid to State Bank of India and amortisation of transfer fees. The last item used to be huge (nearly £10m in 2012/13) but should be much less now as so few of the current players had significant transfer fees. On bank borrowing of £40m the interest cost will run to £millions and adding this to general overheads it is quite likely that the cost base for the coming season may well be c£30m. As the income from gates is only £5m and the final parachute payment is £8m plus other tv and commercial profits of say £5m it is easy to see there is a potential loss for the coming season in excess of £10m. Little wonder that it will be necessary to sell at least one of Rhodes or Gestede to book a sufficient profit to get in below the loss threshold of £8m (although I understood this increased to £13m if at least £5m is subscribed for new share capital. As for the season 2016/17, without a parachute payment, FFP comes back to bite again.............

[roverandout]

There's a letter from Karl oyston . I can't put the link up as i am on a tablet but it explains to blackpool's potential buyers regarding certain issues, I just wish venkys could pull their finger out and explain what's going on. I think its on blackpool's website, by the way this tablet is a peice of @#/?.

[Amo]

Are people still debating this? A cursory look at that page tells you the guy pulled the figures out of his rectum.

[perthblue02]

There's a letter from Karl oyston . I can't put the link up as i am on a tablet but it explains to blackpool's potential buyers regarding certain issues, I just wish venkys could pull their finger out and explain what's going on. I think its on blackpool's website, by the way this tablet is a peice of @#/?.

This one ?

http://www.backhenrystreet.co.uk/thread-26806.html#.VbaeMPmqpBc

[roverandout]

Yep

[Paul]

I don't know anything about the Blackpool situation but that letter is the longest dismissal of an approach you'll ever read. Effectively could be summed up in two words.

[ABBEY]

Which ones ?

[Mike E]

Foxtrot Oscar?

[1arC]

I don't know anything about the Blackpool situation but that letter is the longest dismissal of an approach you'll ever read. Effectively could be summed up in two words.

Is one of them words off by any chance? It is a brilliant letter, I have to admit and provides and insight into how complex these matters are.

[Amo]

Foxtrot Oscar?

Is he our next signing?

[SIMON GARNERS 194]

Take your debt,take your confusion,take every last bit of embarrassment you have caused this once proud club and its support,and most importantly take yourselves and feck off from our club for good Venkys!!

[Jimmy612]

Take your debt,take your confusion,take every last bit of embarrassment you have caused this once proud club and its support,and most importantly take yourselves and feck off from our club for good Venkys!!

Better get your chequebook out SG - someone has to pay the wages.

[ABBEY]

Aye let em carry on ruining us week by week because if they carry on there won't even be anyone in the club to pay wages to

. Venkysout

[Rover_Shaun]

New Avatar for you Abbey

[ABBEY]

Move the r back leave a space and a add a C

[ABBEY]

Someone just commented on a tweet of mine saying venkys are better than oystons because they are trying !!!

[tomphil]

The LT comments, facebook and twitter are where the club plants live, work their magic and mostly thrive. They've tried it on here but failed. Seems this is the only Rovers forum that sees through spin and lies.

[Gav]

Better get your chequebook out SG - someone has to pay the wages.

You keep hiding behind that line Jimmy, the clubs dying on your watch.

[matt83]

If expectations have sunk so low that in any way people feel grateful to the venkys for paying wages which is the absolute bare minimum any club can expect from its owners then we may as well give up on any hope of anything genuinely good happening.

[Parsonblue]

You keep hiding behind that line Jimmy, the clubs dying on your watch.

But you still haven't given an alternative Gav, just some vague hope that someone will come along who is prepared to lose millions to keep the club afloat. The truth is that nobody knows if we would be better or worse off if they left. Until someone is prepared to spend millions trying to buy it off them we will never know.

[Gav]

But you still haven't given an alternative Gav, just some vague hope that someone will come along who is prepared to lose millions to keep the club afloat. The truth is that nobody knows if we would be better or worse off if they left. Until someone is prepared to spend millions trying to buy it off them we will never know.

How could it be any worse Parson?

The club can be self financing with the right people in charge, look at Bournemouth.

You're a diehard, I've the upmost respect for you, but accepting the current situation is just giving up, conceding, we deserve better and shouldn't be hiding behind this nonsense that we have no better option because this option is sealing the death of the club in my eyes.