[Archived] Takeover / Part Takeover ?

[koi]

Gamble is what the Venture Capital people do. They just hope that they get more winners than losers.

Like chaddy and his fivers?

[OJRovers]

It's not a hedge fund it is Venture Capital.

[Iceman]

surely for Venkys, to still have shares in the club, and do virtually nothing is a rather good proposition. Seneca and its investors run the club, they do all the work, get the club promoted, and Venkys gain by either selling their share, or hold onto it, because its worth alot more.

If they say no to that, then a full on riot and boycott wont be far off by the fans

[PeteJD13]

surely for Venkys, to still have shares in the club, and do virtually nothing is a rather good proposition. Seneca and its investors run the club, they do all the work, get the club promoted, and Venkys gain by either selling their share, or hold onto it, because its worth alot more.

If they say no to that, then a full on riot and boycott wont be far off by the fans

total agree with this, I just have this terrible feeling the offer will be ignored, if it is I think I'm done I will be joining the boycott

[47er]

Venkys do nothing anyway so to carry on doing nothing and get paid for it ought to appeal to them.

[Iceman]

Its a rather strange thing to do, if Venkys decide not to accept this offer. The rumours about their deep dark secrets would just further be questioned, because lets face it, any owner running a club losing so much money, and doesnt want to leave, would need their brain checked.

If this was Man United, Chelsea, Arsenal etc that Venkys owned, and they lost that amount of money, it wouldnt be a problem. The amount of ticket sales, shirt sales and other forms of revenue streams would wipe away that debt pretty quickly. In our case, its a mental situation to lose over 100 mill pounds, and recoup virtually nothing in any form of revenue. When you crunch the numbers from a top level, or from a level that dives deeper into the accounts, then people will be more shocked. What people see as a total might seem bad, but when you look at things at the top, and break a 100 million down, then its a disaster.

To be clear, 100Mill wouldnt be bad, if your income exceded your debt or expenses. Right... If Venkys re run the whole scenario again, and break it down, its been one big mess. Contracts flying all over the place, unnecessarily big amounts of wages spent etc.

Thus, from a Venkys perspective, any more money spent on anything, and the revenue streams continues to be depleted ie fans not attending, merchandise sales decreasing, then you would be foolish to spend more money when your business are already on a decline and further dropping down the curve. So that brings us to the question, should they not accept this offer, or a form of an alternative exit strategy, then im afraid, there are things that happened, which they dont want to have exposed. unfortunately for them and the V's shareholders back in India, if they continue to waste core business money on a football club, then heads are going to roll. Once that happens, Venkys will destroy the club to recoup the money to keep their shareholders happy.

Its vitally important that The Ian's and Senceca try and do this deal as quickly as possible, because if they dont, or Venkys says no once again, then im sorry to say, the future of the club will look pretty bleak

[Roversider]

I really, really hope something positive comes out of this. Even if it's a bit of love, care and attention for Rovers coming out of India. If Venky's choose to remain then the current state of basically ignoring the club is not good, the only worse scenario would be pulling the plug financially but that would mean they wave goodbye to their money they have already sunk into Rovers.

Do I think the Seneca bid is achievable? That would require a deeper insight into what is being thought about in Pune than I have access to. Sadly I think that is the case for the two Ians as well. However it is a very sensible attempt to establish a locally based and interested day to day running of the club.

A big aspect for the current owners is about whether they 'lose face' and that might prevent them from making a sensible decision based on financial calculations. Don't underestimate what that means to them so it is critical, if this is to succeed, that due consideration is given to how Venky's emerge from this in terms of how they view their reputation. I don't think what Rovers fans think actually impacts this, rather how the Indian business audience consider it.

From a personal standpoint I would love to see some more positive news come out about Rovers. After a lifetime of attendance at Ewood I have spent the last season watching Bradford City, lots of reasons for that (family pressures, living in Bradford) and I do that as a spectator not as a fan. It is a different experience watching a club I'm interested in but don't love so I am more detached about how I view things. What I do know is that Bradford have local joint-Chairmen with not a lot of money who have been brave enough to care about the fans. That has seen a £149 season ticket resulting in 18,000 season ticket holders. The City fans don't expect much in terms of success but they are happy because they connect with the club AND the owners. It is a real insight as to how Rovers can rebuild the same connection to make the club, the fans, the team and the owners back into the same connected family that we used to be.

[theadore]

surely for Venkys, to still have shares in the club, and do virtually nothing is a rather good proposition. Seneca and its investors run the club, they do all the work, get the club promoted, and Venkys gain by either selling their share, or hold onto it, because its worth alot more.

If they say no to that, then a full on riot and boycott wont be far off by the fans

Or they lose a controlling stake in a club which sprials further down the leagues out of their hands and the capital they blindly invested in the completely unproven new management is worth exactly nothing at all.

How could they say no to that.

[Exiled in Toronto]

For the plan to work, we will need to be promoted within 2-3 years. That means the people installed to run the club will need to be better at their jobs than those in most of the other clubs, all of whom have the same incentive for promotion and may well have their own set of investors circling as, the attractivness of investing in BRFC isn't anything to do with us specifically, it's to do with the gigantic rewards of promotion.

So it's still a gamble, and quite a big one given the threadbare nature of the squad.

While the two Ian's may well be doing this for emotion, the people fronting the 60 million almost certainly won't be, unless this is a 100 Club syndicate (in which case, what took them so long?)

IF the deal comes off (huge if in my book if Alan Nixon is part of the approach strategy), there won't be room for mistakes. They will need to get eveything right in terms of appointments and player purchases to go up in the time frame the investment allows. So they will need the very best football advice - I hope they have that lined up.

[yoda]

Or they lose a controlling stake in a club which sprials further down the leagues out of their hands and the capital they blindly invested in the completely unproven new management is worth exactly nothing at all.

How could they say no to that.

That's what they have now

[AJW]

Taken from Mike Cheston interview wit LT

Will a chief executive or managing director be appointed to replace Derek Shaw?

There are no plans to do that. The board and the management in India are going to take their time to review the requirements for the senior management team, looking to identify skill gaps, current strengths, roles and responsibilities. But there are no plans to have a replacement MD or CEO.

There is a lack of directors based at Ewood Park. Is that going to change? Is that a problem?

No, if we’ve got the right structure in place. We do have regular dialogue, if not with the owners, then with the owners’ representatives. we will look at the existing structure of Yes, the board and see where we need to strengthen, but the plan is to bring in one or two people – not necessarily directors – to support the areas we feel are a little bit weak. For example we’ve already identified commercial and communications following the departure of Alan Myers. We see that as two areas we need to focus on and strengthen.

1 or 2 people = the 2 Ian's?

Wonder if Cheston was already aware of the bid from Senaca ?.. maybe , being a finance guy he was complicit in it also ??

[PeteJD13]

Its a rather strange thing to do, if Venkys decide not to accept this offer. The rumours about their deep dark secrets would just further be questioned, because lets face it, any owner running a club losing so much money, and doesnt want to leave, would need their brain checked.

If this was Man United, Chelsea, Arsenal etc that Venkys owned, and they lost that amount of money, it wouldnt be a problem. The amount of ticket sales, shirt sales and other forms of revenue streams would wipe away that debt pretty quickly. In our case, its a mental situation to lose over 100 mill pounds, and recoup virtually nothing in any form of revenue. When you crunch the numbers from a top level, or from a level that dives deeper into the accounts, then people will be more shocked. What people see as a total might seem bad, but when you look at things at the top, and break a 100 million down, then its a disaster.

To be clear, 100Mill wouldnt be bad, if your income exceded your debt or expenses. Right... If Venkys re run the whole scenario again, and break it down, its been one big mess. Contracts flying all over the place, unnecessarily big amounts of wages spent etc.

Thus, from a Venkys perspective, any more money spent on anything, and the revenue streams continues to be depleted ie fans not attending, merchandise sales decreasing, then you would be foolish to spend more money when your business are already on a decline and further dropping down the curve. So that brings us to the question, should they not accept this offer, or a form of an alternative exit strategy, then im afraid, there are things that happened, which they dont want to have exposed. unfortunately for them and the V's shareholders back in India, if they continue to waste core business money on a football club, then heads are going to roll. Once that happens, Venkys will destroy the club to recoup the money to keep their shareholders happy.

Its vitally important that The Ian's and Senceca try and do this deal as quickly as possible, because if they dont, or Venkys says no once again, then im sorry to say, the future of the club will look pretty bleak

This really sums it up for me perfectly, I don't think they will even respond to the offer, I really hope I am wrong but it just feels as if there is something rotten at the bottom of this

[EgyptianPete]

For the plan to work, we will need to be promoted within 2-3 years. That means the people installed to run the club will need to be better at their jobs than those in most of the other clubs, all of whom have the same incentive for promotion and may well have their own set of investors circling as, the attractivness of investing in BRFC isn't anything to do with us specifically, it's to do with the gigantic rewards of promotion.

So it's still a gamble, and quite a big one given the threadbare nature of the squad.

While the two Ian's may well be doing this for emotion, the people fronting the 60 million almost certainly won't be, unless this is a 100 Club syndicate (in which case, what took them so long?)

IF the deal comes off (huge if in my book if Alan Nixon is part of the approach strategy), there won't be room for mistakes. They will need to get eveything right in terms of appointments and player purchases to go up in the time frame the investment allows. So they will need the very best football advice - I hope they have that lined up.

I certainly don't think the 2 ians are doing this just for emotion jeez 60m, they have had a further three years from the first knock back to suss this out.

Taken from Mike Cheston interview wit LT

Will a chief executive or managing director be appointed to replace Derek Shaw?

There are no plans to do that. The board and the management in India are going to take their time to review the requirements for the senior management team, looking to identify skill gaps, current strengths, roles and responsibilities. But there are no plans to have a replacement MD or CEO.

There is a lack of directors based at Ewood Park. Is that going to change? Is that a problem?

No, if we’ve got the right structure in place. We do have regular dialogue, if not with the owners, then with the owners’ representatives. we will look at the existing structure of Yes, the board and see where we need to strengthen, but the plan is to bring in one or two people – not necessarily directors – to support the areas we feel are a little bit weak. For example we’ve already identified commercial and communications following the departure of Alan Myers. We see that as two areas we need to focus on and strengthen.

1 or 2 people = the 2 Ian's?

Wonder if Cheston was already aware of the bid from Senaca ?.. maybe , being a finance guy he was complicit in it also ??

Hope they are long straws you are clutching at

[J*B]

Lets all just take a moment to think back over the past 5 years and think of how many good decisions Venky's Rovers have made. Lambert? Rhodes? Naming the Blackburn end and Darwen end after ex pros. That's about all I can think of. There's no way this happens, its far too sensible and astute. They're going to hire Hignett, sell Hanley and Marshall, get relegated and pretend it didn't happen. The sooner we all accept it the sooner we can prepare ourselves for it.

[chor808]

Taken from Mike Cheston interview wit LT

Will a chief executive or managing director be appointed to replace Derek Shaw?

There are no plans to do that. The board and the management in India are going to take their time to review the requirements for the senior management team, looking to identify skill gaps, current strengths, roles and responsibilities. But there are no plans to have a replacement MD or CEO.

There is a lack of directors based at Ewood Park. Is that going to change? Is that a problem?

No, if we’ve got the right structure in place. We do have regular dialogue, if not with the owners, then with the owners’ representatives. we will look at the existing structure of Yes, the board and see where we need to strengthen, but the plan is to bring in one or two people – not necessarily directors – to support the areas we feel are a little bit weak. For example we’ve already identified commercial and communications following the departure of Alan Myers. We see that as two areas we need to focus on and strengthen.

1 or 2 people = the 2 Ian's?

Wonder if Cheston was already aware of the bid from Senaca ?.. maybe , being a finance guy he was complicit in it also ??

Dragging that out a bit but good try, I would expect the 1 or 2 people would be sooty and sweep.

[47er]

Or they lose a controlling stake in a club which sprials further down the leagues out of their hands and the capital they blindly invested in the completely unproven new management is worth exactly nothing at all.

How could they say no to that.

Well we have a proven existing management......proven to be worth 100m less than nothing.

[TBTF]

I certainly don't think the 2 ians are doing this just for emotion jeez 60m, they have had a further three years from the first knock back to suss this out.

Hope they are long straws you are clutching at

that's how I see it as well Pete.

These 2 are highly experienced pro's who know what they are doing . Seneca is a big machine with lots of experience working with businesses. They aren't young fly by nights.

They will be very clued up about what they are dealing with and I bet they are ruthless businessmen .You couldn't run the business they run without being on the case. An accountant mate told me Currie has a long track record of running and investing in businesses and has put loads of companies on the Stock market over many years including Leiscester City many moons ago.

But there is no way this will be a half arsed plan. All we need now is the Venkys to start the talking with the Ians

[Athlete]

Taken from Mike Cheston interview wit LT

Will a chief executive or managing director be appointed to replace Derek Shaw?

There are no plans to do that. The board and the management in India are going to take their time to review the requirements for the senior management team, looking to identify skill gaps, current strengths, roles and responsibilities. But there are no plans to have a replacement MD or CEO.

There is a lack of directors based at Ewood Park. Is that going to change? Is that a problem?

No, if weve got the right structure in place. We do have regular dialogue, if not with the owners, then with the owners representatives. we will look at the existing structure of Yes, the board and see where we need to strengthen, but the plan is to bring in one or two people not necessarily directors to support the areas we feel are a little bit weak. For example weve already identified commercial and communications following the departure of Alan Myers. We see that as two areas we need to focus on and strengthen.

1 or 2 people = the 2 Ian's?

Wonder if Cheston was already aware of the bid from Senaca ?.. maybe , being a finance guy he was complicit in it also ??

The plot thickens

Possibly what a certain poster alluded to the other week

[MCMC1875]

Its a rather strange thing to do, if Venkys decide not to accept this offer. The rumours about their deep dark secrets would just further be questioned, because lets face it, any owner running a club losing so much money, and doesnt want to leave, would need their brain checked.

If this was Man United, Chelsea, Arsenal etc that Venkys owned, and they lost that amount of money, it wouldnt be a problem. The amount of ticket sales, shirt sales and other forms of revenue streams would wipe away that debt pretty quickly. In our case, its a mental situation to lose over 100 mill pounds, and recoup virtually nothing in any form of revenue. When you crunch the numbers from a top level, or from a level that dives deeper into the accounts, then people will be more shocked. What people see as a total might seem bad, but when you look at things at the top, and break a 100 million down, then its a disaster.

To be clear, 100Mill wouldnt be bad, if your income exceded your debt or expenses. Right... If Venkys re run the whole scenario again, and break it down, its been one big mess. Contracts flying all over the place, unnecessarily big amounts of wages spent etc.

Thus, from a Venkys perspective, any more money spent on anything, and the revenue streams continues to be depleted ie fans not attending, merchandise sales decreasing, then you would be foolish to spend more money when your business are already on a decline and further dropping down the curve. So that brings us to the question, should they not accept this offer, or a form of an alternative exit strategy, then im afraid, there are things that happened, which they dont want to have exposed. unfortunately for them and the V's shareholders back in India, if they continue to waste core business money on a football club, then heads are going to roll. Once that happens, Venkys will destroy the club to recoup the money to keep their shareholders happy.

Its vitally important that The Ian's and Senceca try and do this deal as quickly as possible, because if they dont, or Venkys says no once again, then im sorry to say, the future of the club will look pretty bleak

Nothing new here.

First 3 paragraphs are basic housekeeping.

Last 2 paragraphs are pure speculation.

[Iceman]

Nothing new here.

First 3 paragraphs are basic housekeeping.

Last 2 paragraphs are pure speculation.

sure, its speculation right now... But it needs to be more than speculation very quickly. Venkys will have a time line for when something needs to happen, if they are prepared to let go of Rovers, or at least they should have one. We can all specualate on the takeover, but one thing we all know for certain, is that unless something positive happens, the club is going to be in a deep deep mess. We know the deal, Seneca and the Ians know the deal, Venkys? im not so sure they know how serious this matter is for the club. From a financial point of view, its already damaged both the club and Venkys, so somebody will have to say or do something quick

[chaddyrovers]

The plot thickens

Possibly what a certain poster alluded to the other week

Which poster and what did they say?

[MCMC1875]

Which poster and what did they say?

Mercerman and the Seneca proposal.

[tomphil]

I don't think it'll be an all out boom or bust assault on the Prem more like something along the lines of Swansea/Soton. Get a 5 year plan in place and get producing players that can be sold as a fall back if we don't get up.

That should appeal to the V's as it seems that's what they've claimed to have wanted but it needs the right structure and people doing it. It will never happen under their watch alone.

The Ian's might have some behind them who have a huge wad of spare cash and are happy to plonk it on something like this and not be desperate for returns.

[dallydally]

All this talk of "encouragement" from India is based on what? Hope or something more substantial?

[PeteJD13]

All this talk of "encouragement" from India is based on what? Hope or something more substantial?

it was tweet from Paul Wheelock he mentioned it