[Archived] Rovers Accounts 2015

[47er]

Apologists den sold Rhodes and here we are.

Sorry Jal, I've read that 3 times and even though its so short I have no idea what you are on about.

[den]

Sorry Jal, I've read that 3 times and even though its so short I have no idea what you are on about.

I think he means I sold Rhodes and that's the reason the clubs in this financial mess?

Who knows?

[47er]

As I've said a couple of times ----Jal the Obscure!

What's the point of posting if its not readily understood?

[Al]

Anyone trying to buy the club should be nice to them but that's it.

I'm not one of those people and intend to keep directing as many insults as possible at them.

Essentially you're suggesting Venkys are basing decisions on emotional blackmail. Well nobody and I mean NOBODY blackmails me.

There's always City Vinjay. You don't need to be nice.

[Mercer]

^{Will be interesting to see if VLL allot further shares, or indeed have already done so, following their allotment of 1,085,000 £1 shares on 15 Feb 2016 (filed at Companies House on 29 Mar 2016). Companies House should be notified within one month of an allotment of shares by submitting the required form by either post or online and therefore there is usually a time lag of up to one month between an allotment of shares and the information being available in the public domain.}

^{We know from the accounts that the Rovers' bank facility with BOI was due to expire on 2 Mar 2016 though the comments stated that 'the directors believe the facility will be reviewed on acceptable terms and conditions'.}

^{The Feb allotment of shares could have been needed because Rovers had hit their overdraft ceiling and the bank said 'no more'. The timing and amount seems a bit strange to me.}

^{I think a further allotment of shares is inevitable before the end of the season, given the scale of ongoing loss we know Rovers are suffering, unless the BOI have extended/increased their facilities. The size of a further allotment will tell us a little more (eg would need to be £15million+ if BOI facility not renewed and repayment in full required).}

[JBiz]

Hold on. I'm not accountant like yourself MM, but isn't "allotment of shares" about debt and not cash?

I mean if we needed cash, wouldn't this be an injection of funds as opposed to converting debt into shares?

Isn't the debt issue primarily a problem with FFP as opposed to Venkys borrowing from BOI? I mean surely we are still borrowing from them monthly because of the wage to turnover rate? The minute the players aren't paid it will be in the papers.

[VinjayV4]

Hold on. I'm not accountant like yourself MM, but isn't "allotment of shares" about debt and not cash?

I mean if we needed cash, wouldn't this be an injection of funds as opposed to converting debt into shares?

Isn't the debt issue primarily a problem with FUP as opposed to Venkys borrowing from BOI? I mean surely we are still borrowing from them monthly because of the wage to turnover rate? The minute the players aren't paid it will be in the papers.

The BOI overdraft was 12.8 million on the accounts up to June 2015. The overdraft was up for renewal on March 2nd. In the accounts the directors were confident it would be renewed. In 2014 it was 11.8 million.

I wonder if the additional 1 million share capital came from an overdraft increase to 13.8 million? EDIT-The share capital was increased in February not March but could it have been an advance ahead of an overdraft increase?

Any way of finding out other than slipping BOI officials a bribe lol?

[Mercer]

Hold on. I'm not accountant like yourself MM, but isn't "allotment of shares" about debt and not cash?

I mean if we needed cash, wouldn't this be an injection of funds as opposed to converting debt into shares?

Isn't the debt issue primarily a problem with FFP as opposed to Venkys borrowing from BOI? I mean surely we are still borrowing from them monthly because of the wage to turnover rate? The minute the players aren't paid it will be in the papers.

The way our 'owners' 'lend' to the club is through the Rovers' parent company (Venky's London Limited). Further shares in VLL are issued and the cash from such is loaned to the Rovers (The Blackburn Rovers Football and Athletic Limited) - these are the amounts shown in the Rovers' balance sheet as being owed to the parent undertaking (£87,097,500 in creditors <amounts falling due within 12 months>).

This is quite different to November 2015 when VLL subscribed for an additional 3 million shares in Rovers (The Blackburn Rovers Football and Athletic Limited) for £3million as part of the 'package' to have the transfer embargo lifted.

[1arC]

I posted this link in the FUP thread, but it is probably just as appropriate here. It seems that the current premier league leaders and champions elect have been cheating the system. Rover get a transfer embargo, Leicester get promotion and the premier league title.

http://www.theguardian.com/football/2016/apr/11/leicester-city-finances-football-league-financial-fair-play-investigation

[Stuart]

Spurs supporting hacks looking to stir up trouble. Where is the indignation and accusation against QPR?

Oh wait, QPR is another club from the Big Smoke.

We should have a massive claim against the discriminatory application of FFP but does anyone care? The rule is garbage anyway. Who decides on the price on club sponsorship - or who can sponsor it? It is a unique product which cannot be purchased anywhere else. As long as it is cash and not debt get on with it. FFP is designed to prevent smaller clubs competing with the traditional big clubs - where all the money is. FFP would have stopped Rovers winning the league if they had thought of it soon enough.

[ABBEY]

The BOI overdraft was 12.8 million on the accounts up to June 2015. The overdraft was up for renewal on March 2nd. In the accounts the directors were confident it would be renewed. In 2014 it was 11.8 million.

I wonder if the additional 1 million share capital came from an overdraft increase to 13.8 million? EDIT-The share capital was increased in February not March but could it have been an advance ahead of an overdraft increase?

Any way of finding out other than slipping BOI officials a bribe lol?

are there ANY subjects you are not a font of knowledge on?

[1arC]

Spurs supporting hacks looking to stir up trouble. Where is the indignation and accusation against QPR?

Oh wait, QPR is another club from the Big Smoke.

We should have a massive claim against the discriminatory application of FFP but does anyone care? The rule is garbage anyway. Who decides on the price on club sponsorship - or who can sponsor it? It is a unique product which cannot be purchased anywhere else. As long as it is cash and not debt get on with it. FFP is designed to prevent smaller clubs competing with the traditional big clubs - where all the money is. FFP would have stopped Rovers winning the league if they had thought of it soon enough.

^{Quite true, but it hasn't stopped Leicester from winning the league. Who knows perhaps the powers that be are already trying to find a way of stripping the title from them and handing it to the runners up Leicester in the Champions league was never the plan you see.}

[perthblue02]

Spurs supporting hacks looking to stir up trouble. Where is the indignation and accusation against QPR?

Oh wait, QPR is another club from the Big Smoke.

We should have a massive claim against the discriminatory application of FFP but does anyone care? The rule is garbage anyway. Who decides on the price on club sponsorship - or who can sponsor it? It is a unique product which cannot be purchased anywhere else. As long as it is cash and not debt get on with it. FFP is designed to prevent smaller clubs competing with the traditional big clubs - where all the money is. FFP would have stopped Rovers winning the league if they had thought of it soon enough.

Not sure David Conn is a spuds supporter *, he was one of the few that were in our corner reporting on Venkys and their project partners. He does quite a bit on financial dealings in sport, but i have no doubt that the original story leads back elsewhere.

Obviously you can't have Leicester winning the Premier league it's unfair on all the big clubs whose money is mostly offshore .

Dont think our lot would have the balls to fight the football league too many dead bodies to uncover

* He's a Man City supporter http://www.lrb.co.uk/v34/n16/david-conn/follow-the-money

Edit 2. He actually reported similar on Leicester in March 2015 http://www.theguardian.com/football/2015/mar/06/leicester-city-football-league-financial-fair-play

[Stuart]

Not sure David Conn is a spuds supporter *, he was one of the few that were in our corner reporting on Venkys and their project partners. He does quite a bit on financial dealings in sport, but i have no doubt that the original story leads back elsewhere.

Obviously you can't have Leicester winning the Premier league it's unfair on all the big clubs whose money is mostly offshore .

Dont think our lot would have the balls to fight the football league too many dead bodies to uncover

* He's a Man City supporter http://www.lrb.co.uk/v34/n16/david-conn/follow-the-money

Edit 2. He actually reported similar in March 2015 http://www.theguardian.com/football/2015/mar/06/leicester-city-football-league-financial-fair-play

City supporter - even more bitter then!

I genuinely think Leicester are a soft target. They haven't gone out and bought the world's best players, they've just put together the best team. I'll say it again though, QPR did worse and for away with it.

Even if they win the league, Rovers will still remain the only town club to have won it.

[ABBEY]

ALL man city fans have chips on shoulders

[BlueMonday]

The press did the same to Rovers when we won the Prem. built us up to bring us down, with the 'bought the league crap'

And ever since they've been trying to erase us from the history books. I read an article in the Mail On Sunday by that t**t Oliver Holt. He was romanticising about Liecester winning the league. He mentioned every league winner barr Rovers. Not one mention by name in the whole article.

That's the @#/? we should be fighting against!!!

[tomphil]

I know we talk about Nixon but there aren't many bigger gonads pulling things to write about out of thin air than Holt . Having said that I do remember him on TV saying he felt sorry for Rovers fans because we'd had our club taken from us overnight or words to that effect. I was surprised at that as he seemed against us in the written press.

[VinjayV4]

City supporter - even more bitter then!

I genuinely think Leicester are a soft target. They haven't gone out and bought the world's best players, they've just put together the best team. I'll say it again though, QPR did worse and for away with it.

Even if they win the league, Rovers will still remain the only town club to have won it.

Making assumptions about people again then? Saw your dig at me the other day.

Conn isn't too popular on City forums because he's felt emotionally detached from modern football. He isn't comfortable with the financial aspects of football at all. He believes in supporter ownership and has been accused of being anti-Mansour. I wouldn't say he's written the article on Leicester out of bias. He writes about any club objectively including his own.

http://www.theguardian.com/football/2012/may/18/fall-and-rise-manchester-city

He's written on Rovers pre and post Venkys takeover and is friends with Rovers fan Michael Taylor. He wrote in 2008 about the trustees cutting off funding and an "uncertain future". That does not mean he predicted what's happened over past few years. None of us knew for sure what new owners might bring after all.

Rovers are not the only town club to have won it. Premier League was a rebranding and that's it. Relegation provides the connection with the old Football League. Tired of Rovers being compared to Leicester instead of Leeds in 1992 and I'm expecting to read even more irritating comparisons in the coming weeks. Not that Leeds winning it was as shocking as Leicester but how could anyone claim their squad was better than Rovers? Rod Wallace and Lee Chapman were the main strikers and Cantona wasn't there all season long.

[yoda]

Making assumptions about people again then? Saw your dig at me the other day.

Conn isn't too popular on City forums because he's felt emotionally detached from modern football. He isn't comfortable with the financial aspects of football at all. He believes in supporter ownership and has been accused of being anti-Mansour. I wouldn't say he's written the article on Leicester out of bias. He writes about any club objectively including his own.

http://www.theguardian.com/football/2012/may/18/fall-and-rise-manchester-city

He's written on Rovers pre and post Venkys takeover and is friends with Rovers fan Michael Taylor. He wrote in 2008 about the trustees cutting off funding and an "uncertain future". That does not mean he predicted what's happened over past few years. None of us knew for sure what new owners might bring after all.

Rovers are not the only town club to have won it. Premier League was a rebranding and that's it. Relegation provides the connection with the old Football League. Tired of Rovers being compared to Leicester instead of Leeds in 1992 and I'm expecting to read even more irritating comparisons in the coming weeks. Not that Leeds winning it was as shocking as Leicester but how could anyone claim their squad was better than Rovers? Rod Wallace and Lee Chapman were the main strikers and Cantona wasn't there all season long.

The Rovers are the only town club to win it, it was not a re-branding it was the FA creating a new league (and taking back control of football at the highest level in England) as opposed to the Football League who had run the previous competition.

The FA then gave control away to the clubs.

[jodrell]

The Rovers are the only town club to win it, it was not a re-branding it was the FA creating a new league (and taking back control of football at the highest level in England) as opposed to the Football League who had run the previous competition.

The FA then gave control away to the clubs.+SKY

Just a slight alteration

[Lancs Rover]

The Rovers are the only town club to win it, it was not a re-branding it was the FA creating a new league (and taking back control of football at the highest level in England) as opposed to the Football League who had run the previous competition.

The FA then gave control away to the clubs.

No. It's the same game. It was just branded as different. Re-packaged for the passive 'fan as consumer' not 'fan as participant'. Take the branding away and serve up simply football and a lot of fans wouldn't be interested or able to engage with it any more imo.

The off stage organisational stuff is peripheral to a competition which is intended to find out which is the best team in the country.

Rovers are the latest town club to be Champions of England. Or have we only been Champions once?

[Stuart]

No. It's the same game. It was just branded as different. Re-packaged for the passive 'fan as consumer' not 'fan as participant'. Take the branding away and serve up simply football and a lot of fans wouldn't be interested or able to engage with it any more imo.

The off stage organisational stuff is peripheral to a competition which is intended to find out which is the best team in the country.

Rovers are the latest town club to be Champions of England. Or have we only been Champions once?

Not sure what you are driving at here, Mark, nor why.

Blackburn Rovers are the only town club to have won the Premier League. Just as Liverpool have never won it. These are facts.

[yoda]

Not sure what you are driving at here, Mark, nor why.

Blackburn Rovers are the only town club to have won the Premier League. Just as Liverpool have never won it. These are facts.

Spot on Stuart, the FA and Football League are two separate entities.

The Rovers being a bit Special in the football world are also founding members of the two separate competitions.

[den]

From http://www.premierleague.com/content/premierleague/en-gb/history.html

History of the Premier League

The Barclays Premier League began in 1992/93 and since then has established itself as the most exciting and most watched league in the world.

Man Utd were the inaugural BPL champions and have gone on to win the title 13 times. Chelsea have been champions four times, Arsenal three, Man City twice, and Blackburn once.

[Stuart]

From http://www.premierleague.com/content/premierleague/en-gb/history.html

History of the Premier League

The Barclays Premier League began in 1992/93 and since then has established itself as the most exciting and most watched league in the world.

Man Utd were the inaugural BPL champions and have gone on to win the title 13 times. Chelsea have been champions four times, Arsenal three, Man City twice, and Blackburn once.

I bet they choke on that every year that they update the list. Ha!