[Archived] Rovers Accounts 2015

[dave birch]

But the Indians are a proud peoples, not wanting to admit failure, but not wanting to take advice,

so whereto from here.

[Mercer]

It would be interesting if someone could make a forecast of the financial situation and what form the club would take if Venkys left.

Would depend upon the circumstances in which V's leave.

Firstly, we need to understand that this little lot will have cost them approaching £150million so far and still rising ! I would think therefore they have huge regret about ever taking Rovers on and perhaps harbour even a degree of hate for the whole thing Rovers - remember these are not Jack Walker / Eddie Davies type owners who did it for their love / affinity of the place. The fear is they could effectively say 'stuff you' and then we really, really are in trouble.

Unless there is a die hard Rovers' billionaire out there with a Jack Walker mentality, which I very much doubt, then I think the club is unsellable.

Even if the V's walk away and show extreme benevolence by writing-off their debt and repaying the bank overdraft (reported at £13million in accounts for June 2015), I think the capital / working capital required of at least £50million (I would think that from 2016/17 season, Rovers' normal operating loss is £20million+) is way beyond the likes of Rovers Trust and I doubt Seneca would go anywhere near this now - remember, Seneca is about wealth management! In fact, given the difficulties encountered trying to sell Rovers even as a 'successful' PL club, I very much doubt anyone would want to take Rovers on now.

I think the only way out of this financial mess is promotion back to the PL and for that to happen, V's are going to have to dig even deeper in order to back their football manager and that seems unlikely to happen.

Where we go from here is really unthinkable. IMV, it's grim, very grim

[Leonard Venkhater]

Whilst I agree with this, such is their wealth, then they have option 3: Continue to run things their misguided, arrogant way, allow the crisis of mediocrity to continue, and simply keep footing the lessening bills. This isn't their purgatory, it's he fans'.

Absolutely. This is the wither on the vine scenario-the slow lingering death.

I think all talk of dialogue with the Raos is a hopeless illusion.This is about power, abuse and refusal to listen..( Are you listening, Cardinal O'Brien?)

[SIMON GARNERS 194]

Absolutely. This is the wither on the vine scenario-the slow lingering death.

I think all talk of dialogue with the Raos is a hopeless illusion.This is about power, abuse and refusal to listen..( Are you listening, Cardinal O'Brien?)

Yep,death by a thousand lingering cuts.

What a situation..what did we do to deserve this?

[yoda]

VinjayV4

Posted Today, 11:09 AM

47er, on 09 Apr 2016 - 10:58 AM, said:

Den, it would be interesting to know what the financial situation would be if Venkys stayed! 100 million new debt in 5 years is good going!

I do recall you saying that Venkys would not cover this sort of loss forever and,qof course, you were right.

As to the form of club that would/could arise in the event of bankruptcy, it would be the same as Wimbledon, starting in some non-league or other, with a slightly new name eg AFC Rovers Blackburn or some such and playing who knows where? On that point though, hard to see Ewood being any use for anything else. Won't be suitable for luxury flats like Arsenal.

Common sense would see Venkys and every other interested party coming together and trying to work something out.

While I'm not relishing the propect,I don't know how much more I can take of the current situation. You?

How are Football Club Blackburn and the 10,000 capacity stadium coming along? It wouldn't be the same as Wimbledon this is a far bigger club and a leading symbol of excellence since the foundation of English football. In which case more or less means any football!

den, on 09 Apr 2016 - 11:03 AM, said:

So maybe it's time to stop giving them dogs abuse SG? (I don't mean you personally, I mean all of us).

Apart from some unlikely billionaire coming in, they are our only hope of the club even resembling what it looks like now, a few years down the road.

Look forward to the replies. That's the truth though, isn't it?

So kiss ass then? No thank you.

Precisely the correct attitude to bring about the final curtain for Blackburn Rovers.

[tomphil]

They could well just keep us hanging and carry on downscaling and if it begins to cost them less they'll just be able to ignore it even more. They or one of them will probably believe that one day it'll just somehow click into gear again and we'll rise back up but until then it's just carry on with other things. All the while they've no idea the permanent damage that's being done and the fact they'll be left with something resembling Bury at best or Stanley even.

If we are going to eventually drop that far I'd rather do it without these lot.

[den]

Would depend upon the circumstances in which V's leave.

Firstly, we need to understand that this little lot will have cost them approaching £150million so far and still rising ! I would think therefore they have huge regret about ever taking Rovers on and perhaps harbour even a degree of hate for the whole thing Rovers - remember these are not Jack Walker / Eddie Davies type owners who did it for their love / affinity of the place. The fear is they could effectively say 'stuff you' and then we really, really are in trouble.

Unless there is a die hard Rovers' billionaire out there with a Jack Walker mentality, which I very much doubt, then I think the club is unsellable.

Even if the V's walk away and show extreme benevolence by writing-off their debt and repaying the bank overdraft (reported at £13million in accounts for June 2015), I think the capital / working capital required of at least £50million (I would think that from 2016/17 season, Rovers' normal operating loss is £20million+) is way beyond the likes of Rovers Trust and I doubt Seneca would go anywhere near this now - remember, Seneca is about wealth management! In fact, given the difficulties encountered trying to sell Rovers even as a 'successful' PL club, I very much doubt anyone would want to take Rovers on now.

I think the only way out of this financial mess is promotion back to the PL and for that to happen, V's are going to have to dig even deeper in order to back their football manager and that seems unlikely to happen.

Where we go from here is really unthinkable. IMV, it's grim, very grim

It is grim.

The administration option which some would take over our current circumstances - if it happened tomorrow, nobody would take the club would they? It would be liquidation wouldn't it?

[Stuart]

They could well just keep us hanging and carry on downscaling and if it begins to cost them less they'll just be able to ignore it even more. They or one of them will probably believe that one day it'll just somehow click into gear again and we'll rise back up but until then it's just carry on with other things. All the while they've no idea the permanent damage that's being done and the fact they'll be left with something resembling Bury at best or Stanley even.

If we are going to eventually drop that far I'd rather do it without these lot.

I think this is the sentiment of most fans. I expect it was the same sentiment for Pompey and Gaydamak.

[tomphil]

It is grim.

The administration option which some would take over our current circumstances - if it happened tomorrow, nobody would take the club would they? It would be liquidation wouldn't it?

If they put the club into admin wouldn't they have to write off their bit ? Surely if it was only the overdraft and contractual obligations someone would take it on. Sell Hanley, Duffy, Marshall and we are, erm...laughing.

I think this is the sentiment of most fans. I expect it was the same sentiment for Pompey and Gaydamak.

It's not just them either. I have a pal who's a Geordie and through him I know a few exiled zebras who live in the Chorley area and most of them would take going bust and dropping a league or two to get rid of Ashley. They are of the opinion being such a huge club they'll come back without him.

I think they are a bit misguided but the feeling is similar to us, just having him around makes them sick to the back teeth.

[McClarky]

There's no amount of investment from Vs will get us promoted with the club as leaderless as it is now. And they have shown no intention in 5 yeas to deal with the basic underlying oroblems. If Vs go we are stuffed and if they stay we are stuffed. The difference is we have more chance of bouncing back in some form now than in 5 years time. The fact there are people discussing it on here gives some hope, roll forward 5 years under Vs and imagine how many will still be bothered.

[VinjayV4]

If they put the club into admin wouldn't they have to write off their bit ? Surely if it was only the overdraft and contractual obligations someone would take it on. Sell Hanley, Duffy, Marshall and we are, erm...laughing.

It's not just them either. I have a pal who's a Geordie and through him I know a few exiled zebras who live in the Chorley area and most of them would take going bust and dropping a league or two to get rid of Ashley. They are of the opinion being such a huge club they'll come back without him.

I think they are a bit misguided but the feeling is similar to us, just having him around makes them sick to the back teeth.

If they seriously think Ashley is as bad as Venkys they are nuts. Got several faults for sure but still...

FUP isn't making takeover chances any better for them and Villa. Nor is it for Sunderland where the owner is a FUP lover.

[Ozz]

Rovers Trust analysis of latest accounts.

http://www.roverstrust.com/2016/04/08/rovers-trust-reveals-clubs-losses-will-continue-and-calls-for-dialogue-with-the-owners/

[den]

If they put the club into admin wouldn't they have to write off their bit ? Surely if it was only the overdraft and contractual obligations someone would take it on. Sell Hanley, Duffy, Marshall and we are, erm...laughing.

It would take a lot more than those three sales to break even. This goes under the heading " someone want to forecast what the club would look like if the owners left"

So maybe we should be nice to 'em, cos without 'em, we might very well be no more.

Fact?

[VinjayV4]

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.

[tomphil]

Being nice to them is an interesting one. We've all talked about protests going unnoticed and making no difference so I wonder what would happen if someone started tub thumping on their behalf and formed a pro Venkys group. Would they suddenly start taking a bit of interest and show up if the Darwen end started chanting for them and big banners appeared in the Riverside saying in Venkys we trust ?

Something inside me tells me they are that shallow they would show up. Would it make them do the right things ? I very much doubt it and if they've ever really had a huge desire to be liked they've never really done much about it.

[VinjayV4]

Being nice to them is an interesting one. We've all talked about protests going unnoticed and making no difference so I wonder what would happen if someone started tub thumping on their behalf and formed a pro Venkys group. Would they suddenly start taking a bit interest and show up if the Darwen end started chanting for them and big banners appeared in the Riverside saying in Venkys we trust ?

Something inside me tells me they are that shallow they would show up. Would it make them do the right things ? I very much doubt it and if they've ever really had a huge desire to be liked they've never really done much about it.

Den is blatantly suggesting that we pretend to be nice to them. I'm sure even those idiots will see right through it and know what our real feelings are.

Suppose we could try it once though maybe at the Huddersfield game? Chant "We love you Venkys, we do" and hand out inflatable hearts with Venkys on them perhaps?

Then if they don't respond go back to normal.

[den]

Being nice to them is an interesting one.

I am being a little " faceicous", but you know that. I mean Abbey would have to be banned permanently straight away.

I do think though, that without them we would be looking at liquidation rather than administration. I think mercerman thinks that and I think the trust thinks that.

[perthblue02]

Being nice to them is an interesting one. We've all talked about protests going unnoticed and making no difference so I wonder what would happen if someone started tub thumping on their behalf and formed a pro Venkys group. Would they suddenly start taking a bit of interest and show up if the Darwen end started chanting for them and big banners appeared in the Riverside saying in Venkys we trust ?

Something inside me tells me they are that shallow they would show up. Would it make them do the right things ? I very much doubt it and if they've ever really had a huge desire to be liked they've never really done much about it.

I'll ask the Mrs if she can bake some cup cakes and do the top icing in the shape of the Taj Mahal,worth a shot?

Could get Abbey to arrange the reception for them, believe he is a big advocate of the tea, biscuit, chat method of sorting problems out

[tomphil]

I'm suggesting they wouldn't, if someone told them all is well I Blackburn now and the fans are ever grateful for your continued financial support to keep the club going and they plan to show their appreciation at a game. The keaners would be here overnight in their cavalcade of royal owned Bentleys and an Indian TV crew in tow.

They really are that false.

[Stuart]

Rovers Trust analysis of latest accounts.

http://www.roverstrust.com/2016/04/08/rovers-trust-reveals-clubs-losses-will-continue-and-calls-for-dialogue-with-the-owners/

Thanks Ozz.

Although I understand Dan's reasons, it's a little disingenuous to compare past losses with future income. Decisions would be made with current/future income in mind. Wages to turnover must also be on the slide too given the calibre of player that we currently have on the books and recent player sales.

That said...

Our cloth has been well and truly cut and bringing in an ambitious manager is completely at odds with that frugality. A good man-manager was definitely a requirement, which we now have, but he needs to clear the decks of those players who are in that 'mediocrity rules' mentality - and that takes cash. Largely because those players that we need to lose will not command much in the way of transfer fees.

All of the downgrading (except where payoffs were necessary) have resulted in income. To upgrade requires expenditure. These are very wealthy people without a football brain between them, and only one who seems interested.

We are a stamp, in a book, on a shelf, in a darkened room, where the light is only switched on once a month - and it's one of those crappy 15W (like 40W) ones that takes 5 minutes to get bright and they've only got a 2 minute attention span.

[47er]

I am being a little " faceicous", but you know that. I mean Abbey would have to be banned permanently straight away.

I do think though, that without them we would be looking at liquidation rather than administration. I think mercerman thinks that and I think the trust thinks that.

We might have to die before we are reborn! Trouble is I don't have decades left!

[tomphil]

I'll ask the Mrs if she can bake some cup cakes and do the top icing in the shape of the Taj Mahal,worth a shot?

Anyone know anyone in the Blackburn area who rents elephants out ? We could get a few of them in as well

[VinjayV4]

I'm suggesting they wouldn't, if someone told them all is well I Blackburn now and the fans are ever grateful for your continued financial support to keep the club going and they plan to show their appreciation at a game. The keaners would be here overnight in their cavalcade of royal owned Bentleys and an Indian TV crew in tow.

They really are that false.

We should probably wait a bit, fund a statue for Balaji and ask him to attend the unveiling. Next to Jack's but a little bigger I'm sure he will love it!

Actually we should all look for some local rich people and start being really nice to them. Maybe even the Walkers...you never know? Might make some money out of it!

[den]

Den is blatantly suggesting that we pretend to be nice to them.

I'm telling you that if they pack up and leave, the club's virtually finished. The idea that someone will come along, we'll just sell a few players then come back to where we were is fantasy stuff. You show me how that's not the case.

[Stuart]

I am being a little " faceicous", but you know that. I mean Abbey would have to be banned permanently straight away.

I do think though, that without them we would be looking at liquidation rather than administration. I think mercerman thinks that and I think the trust thinks that.

Why haven't Bolton been liquidated though, or Pompey before them?

This isn't a normal business and the Trust could apply to the league to take over the Football league share could they not?