[Archived] Transfer Embargo Lifted

[Tom]

The transfer embargo is no more!

http://mobile.rovers.co.uk/

[Mattyblue]

Blackburn Rovers

@OneRovers

30s

Rovers confirm that following discussions with the Football League the club is now compliant with the rules and regulations on FFP.

[DavidMailsTightPerm]

It really is a strange feeling - that is two things the owners appear to have done right in a short space of time. Only time will truly tell whether they have turned the corner in terms of how they run the club - but it is a nice change following all the mistakes they made previously.

Irrespective of people's feelings towards the Rao Family - you only need to look down the A666 to see what happens when owners withdraw their financial support.

[K-Hod]

Thank Christ for that!

[Stevo]

Onwards and upwards from here on in. Promotion will be very difficult this season but I think we should be set up to make a concerted effort next season. Good times for a change.

[Commondore]

I'm of course thankful for us being able to pay (small) transfer and loan fees again, but does anyone else find the reasoning behind the lifting both opaque and arbitrary? Makes the FFP-rules look even more like a Mickey mouse legislature.

[PLJPB]

The phrase that sticks out for me is ''Owners agreeing and implementing a loan conversion agreement''

Hopefully this means converting the Rovers debt into share capital - effectively writing off the debt.

[davulsukur]

Totally unexpected but very welcome news!

I'm guessing we just spend our way out of the championship now then?!?!

[donnermeat]

YES!!

[JHRover]

Very good stuff.

My only gripe is the last line:

'the club wishes to put on record its thanks to the League for its co-operation during this period'

It makes me sick. After what QPR and Derby have done we should never have been embargoed in the first place. Whatever people's views are on Bowyer our chances would have been enhanced significantly if we had been able to spend in the summer as everyone else could. This season was almost a lost cause irrespective of the manager because of the depleted squad brought about by our league enforced restrictions. Now Lambert has to work miracles in the next 6 months to get us even in contention for the play-offs.

[Bucksrover]

Great news.

Credit to the owners, and to Bowyer who kept us steady while the leeches were removed from the playing staff.

Hopeful of a hope-filled future under Lambert

[unsall]

The phrase that sticks out for me is ''Owners agreeing and implementing a loan conversion agreement''

Hopefully this means converting the Rovers debt into share capital - effectively writing off the debt.

. Think that's the plan,told last week from an employee,the only reason we were still in it,was that the debt was linked to the banks,and needed to move it round,loan/share,and that is what has been done now,that's why Bolton were not in it,all their debt was to the owner and not linked to the banks..

[G Somerset Rover]

Perhaps the reason that we are out is because we threatened legal action of our own due to their continued failure to penalise QPR.

[Ivorsemion]

The events of the last couple of weeks surely mean that Venky's aren't about to lose interest in the club and pull the funding any time soon?

[J*B]

Someone get on the phone to Ronaldinho.

[sharpysharps]

Thats a relief! Great news, I think we all felt that we would be close to coming out of the embargo once we hired Lambert as our new manager.

More reasons to be hopeful of this new era under the new manager.

[FGS5635]

Well timed also with half season tickets on sale.

[ABBEY]

CHANGES NOWT! NEVER FORGIVE OR FORGET !!

VENKYSCUM OUT THE PAIN THEY HAVE CAUSED IS UNFORGIVIBLE..

Yes the manager and Rhodes is the only good from them the rest is hurt and pain.

[K-Hod]

Perhaps the reason that we are out is because we threatened legal action of our own due to their continued failure to penalise QPR.

I'm just glad someone has used their loaf and had the balls to challenge the league over the farce that is FFP. Jokers.

[AggyBlue]

CHANGES NOWT!

Ok, we've managed to scrape out of the embargo but one signing would probably fall foul of the rules and we'd be back under an embargo.

I suppose we'll have to adopt a 'one out, one in' policy.

[den]

. Think that's the plan,told last week from an employee,the only reason we were still in it,was that the debt was linked to the banks,and needed to move it round,loan/share,and that is what has been done now,that's why Bolton were not in it,all their debt was to the owner and not linked to the banks..

FFP isn't about debt though, it's about losses apparently.

[Exiled in Toronto]

The statement reeks of a face-saving exercise on behalf of the authorities but needs must.

Also good news on the debt to equity transfer, which was inevitable in my view once the debt got way beyond what could ever be wrung out of the assets, but good to be gone all the same.

The key issue of course, as we see at Horwich United, is continuing cash to fund the week by week losses, which the recent good news changes suggest will not be turned off anytime soon. Roll on the Lambert Era

[J*B]

Live view from India.

[sambo]

The statement reeks of a face-saving exercise on behalf of the authorities but needs must.

Also good news on the debt to equity transfer, which was inevitable in my view once the debt got way beyond what could ever be wrung out of the assets, but good to be gone all the same.

The key issue of course, as we see at Horwich United, is continuing cash to fund the week by week losses, which the recent good news changes suggest will not be turned off anytime soon. Roll on the Lambert Era

Sorry if this sounds stupid, but could somebody please explain the equity transfer to me?

Much appreciated if so!

[Blandy]

Ok, we've managed to scrape out of the embargo but one signing would probably fall foul of the rules and we'd be back under an embargo.

I suppose we'll have to adopt a 'one out, one in' policy.

From next season the rules change, losses will be taken over a 3 year period and increase to 13million per season meaning we can give it a 'right good go' for 3 seasons before we'd be in the @#/? again!