[Archived] Rovers' Debt

[Iceman]

Something needs to happen now. Whatever it is, it cant wait for Wolves im afraid. We need a change in manager as soon as possible. It might already be too late, but we have to force something to happen surely

[Mercer]

Not sure if this has already been mentioned so apologies if it has. VLL issued a further £2.1million shares in August. PhilipL understood the Raos were using another way to financially keep Rovers afloat and I seem to recall he mentioned £15million. One obvious question - is the £2.1million in addition to PhilipL's understanding or instead of?

[ABBEY]

Not being clued up on things like this who bought / buys them

[Dunnfc]

  On 22/09/2016 at 17:58, ABBEY said:

Not being clued up on things like this who bought / buys them

Un-Allotted shares reserved from the purchase of the company and the change to LTD status from when a PLC.

Obviously the incorporation of VLL (venkys london ltd) would have say 100 shares at £1 each which it turn owns the club. BRFC for example had 30,000 at whatever they were worth say 1.00 however only 25,000 may have been in circulation so they'd buy say 200 shares each month at whatever sum to inject capital.

A bit like what happened at Rangers under King only his plan backfired when they got hoyed from the SE and couldn't sell/trade there reserves.

V's could purchase whatever sum remaining but appear to be putting a minimum in to keep the lights on.

[OJRovers]

You've got to wonder where all this cash is going after all the transfer monies received this summer and higher earners leaving the payroll.

[yoda]

  On 22/09/2016 at 19:04, OJRovers said:

You've got to wonder where all this cash is going after all the transfer monies received this summer and higher earners leaving the payroll.

Balaji's back sack,

Along with Elton

[Mike E]

  On 22/09/2016 at 19:40, yoda said:

Balaji's back sack,

Along with Elton

Would that be the crack?

[tomphil]

They may well have put some directly in earlier in the year then taken it back from sales ? Like a payday loan

Accounts soon aren't they ? Probably the most interesting set since they've been here, I'm sure there is a good bit of window dressing going on with the number crunchers right now !

[yoda]

  On 22/09/2016 at 21:07, tomphil said:

They may well have put some directly in earlier in the year then taken it back from sales ? Like a payday loan

Accounts soon aren't they ? Probably the most interesting set since they've been here, I'm sure there is a good bit of window dressing going on with the number crunchers right now !

It's going to take a big dollop of creativity to get the accountants to put their name to it and sign them off

[4000Holes]

Reading the above posts, they are obviously actively investigating if the lands (Brockhall and Ewood) can be used or sold.

It would seem that Ewood is the most vulnerable.

Didn't the river Darwen flood Ewood a few years back? And as such could it be designated a flood plain by the local authority thus making it more or less worthless as it prevents building without substantial measures to be put in place. Or would this be counter productive to the long term future of the club?

Just something to think about.

[K-Hod]

There was a housing development around the corner from me that was all ready to be signed off but was halted then subsequently cancelled because of a flood risk (there were coal mines there at one point also, that caved in in the last five years which will also have influenced the decision!!). Anyhow, I'd suggest that if there's even the slightest hint of the site being a flood risk it wouldn't get the go-ahead for a housing development.....

[MCMC1875]

  On 23/09/2016 at 15:16, K-Hod said:

There was a housing development around the corner from me that was all ready to be signed off but was halted then subsequently cancelled because of a flood risk (there were coal mines there at one point also, that caved in in the last five years which will also have influenced the decision!!). Anyhow, I'd suggest that if there's even the slightest hint of the site being a flood risk it wouldn't get the go-ahead for a housing development.....

Flood risk is no guarantee against development. Just look at Whalley.

[Hanks]

Indeed

  On 23/09/2016 at 15:31, MCMC1875 said:

Flood risk is no guarantee against development. Just look at Whalley.

[J*B]

  On 23/09/2016 at 15:39, Hanks said:

Indeed

I quite liked Whalley res. I'm surprised the developers didn't try and charge people extra and sell it as a feature.

[perthblue02]

Wonder if letting the rats run around the corridors and boardroom at Ewood in the last 6 years was a test to see how much infestation there would be with an housing development on the Ewood park site

[1arC]

  On 13/09/2016 at 08:43, JHRover said:

If they wanted to sell the ground and then lease it back they would be able to do it. In recent times Leeds and Portsmouth have both sold off their grounds to private owners to generate some instant cash and then rented it back from them. I think Portsmouth have once again taken ownership of Fratton Park since the supporters trust took over, but Leeds are still renting Elland Road for a substantial amount, along with their training ground at Thorpe Arch. Infact it is this situation which is partly responsible for a lack of prospective new owners at Leeds, as anyone buying that club would be getting a name and badge, but no property or real assets as they are owned by a third party and cost the club a fortune every year to lease.

Its more likely they are going to attempt to close the Riverside in the near future as a cost cutting exercise. Cheston has already embarked on his plan to move as many people as possible willingly to the Jack Walker by offering cheaper tickets, I expect the next phase will be to close the Riverside 'temporarily' due to 'structural issues' and this will then become a permanent arrangement. Its certainly easier to get 2,000 long term season ticket holders in there to give up their seats of 30 years if you can convince them the stand is sinking and its a health and safety issue rather than cost cutting.

I guess they could rename the riverside the river.

[philipl]

  On 22/09/2016 at 17:54, Mercerman said:

Not sure if this has already been mentioned so apologies if it has. VLL issued a further £2.1million shares in August. PhilipL understood the Raos were using another way to financially keep Rovers afloat and I seem to recall he mentioned £15million. One obvious question - is the £2.1million in addition to PhilipL's understanding or instead of?

The £2.1m is I believe the maximum amount they are allowed to put in as new capital under the old FFP rules to avoid issues re-emerging on last season's numbers.

Could be wrong- haven't refreshed my knowledge on this for quite some time.

[MGAndy]

  On 23/09/2016 at 16:53, 1arC said:

I guess they could rename the riverside the river.

The riverside will be renamed the stage.

[awhom111]

Interesting new filing at Companies House:

https://beta.companieshouse.gov.uk/company/07406020/filing-history

Change behind the scenes in how the family is handling things?

[perthblue02]

  On 15/10/2016 at 01:26, awhom111 said:

Interesting new filing at Companies House:

https://beta.companieshouse.gov.uk/company/07406020/filing-history

Change behind the scenes in how the family is handling things?

So looking what the form is on google , it has replaced the annual return and besides getting Venkatesh's name wrong, I am right in reading that just the two brothers hold 100 % of the voting rights in VLL between them 50/50 now? and VHPL are still the 100% shareholder. Mrs D and her husband washed their hands to some extent of VLL?

[toogs]

I think companies are now required to declare a "person of significant control" amongst the directors. Looks like this can be more than one person. Someone with more knowledge than me will be able to confirm.

[bob fleming]

  On 15/10/2016 at 06:29, toogs said:

I think companies are now required to declare a "person of significant control" amongst the directors.

Captain Confused or Barry White it is then. Clear a space for my cartwheels of joy.

Still what you do? Miss 35 mins of the Wolves match to show your displeasure at this long running farce or just carry on as normal.

It's a real tough one that isn't it?

35 mins vs 6 years of having the urine taken out of you.

[chaddyrovers]

  On 15/10/2016 at 01:41, perthblue02 said:

So looking what the form is on google , it has replaced the annual return and besides getting Venkatesh's name wrong, I am right in reading that just the two brothers hold 100 % of the voting rights in VLL between them 50/50 now? and VHPL are still the 100% shareholder. Mrs D and her husband washed their hands to some extent of VLL?

It does appear that Mrs and Mr D have given up or that Balaji and Venkatesh Rao have got what they want and be the owners of BRFC.

​Balaji has been the one who has the biggest interest in Football.

[arbitro]

  On 15/10/2016 at 09:59, chaddyrovers said:

It does appear that Mrs and Mr D have given up or that Balaji and Venkatesh Rao have got what they want and be the owners of BRFC.

​Balaji has been the one who has the biggest interest in Football.

Has he? That's a bold statement considering he couldn't give a flying one about the club he owns.

[tomphil]

Detaching herself from the impending financial fall out of us going under maybe ?

Sick of trying to get the others to give the club up ?

Either way it's Venky news which means it wont be good news for us. Doubt anything at all will change.