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[Archived] Meeting With The Club.

Neal

By Neal
in Football Messageboard Archive

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blueboy3333 World Cup

blueboy3333

Posted
Posted
Just now, broadsword said:

Sorry, I've not followed everything here, but is the general jist that we are using short-term finance at punitive rates just to meet operating costs?

I think so. The real question is just how 'punitive' these rates are in comparison to other clubs, and just how unusual these types of loans are to football clubs not rolling in Prem money.  

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Athlete Champions League

Athlete

Posted
Posted

After following last nights events unfold I for the life of me can not see hardly any positives with our current predicament speaking to a accountant football fan earlier this morning at work and showing him this forum, the latest accounts , revelations etc and all he said was the club is hanging by a very very thin thread which can break at any time ..the loans payday loans or call them short term loans whatever at that kind of interest are not a common practice in business not at them interest rates .

yet some posters on here are still defending venkys , being taken in by Senior and as for Cheston he's a financial guy not a football guy who seems to be way out of his depth...

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broadsword World Cup

broadsword

Posted
Posted

You just can't get away with doing that long-term, unless your income is projected to rise. Each successive loan will be paying off a greater amounted of rolled-up interest from the previous loan.

Short-term loans, in my admittedly patchy experience, are for exceptional costs.

This is just not sustainable and without external funding or some other similar change in circumstance, it's only a matter of time before the wolves are at the door. I can't see how can get out of this, especially since income is going down, if anything.

Honest-to-God, this is worrying. Not being melodramatic or anything, it's just common sense.

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Dunnfc World Cup

Dunnfc

Posted
Posted
Just now, Athlete said:

After following last nights events unfold I for the life of me can not see hardly any positives with our current predicament speaking to a accountant football fan earlier this morning at work and showing him this forum, the latest accounts , revelations etc and all he said was the club is hanging by a very very thin thread which can break at any time ..the loans payday loans or call them short term loans whatever at that kind of interest are not a common practice in business not at them interest rates .

yet some posters on here are still defending venkys , being taken in by Senior and as for Cheston he's a financial guy not a football guy who seems to be way out of his depth...

The accountant and web share blogger (Ex-Fino Journo) when we met and i briefed him and two weeks ago sent the accounts over he wondered how we were not bust. Andy Neil a local based accuntant, standing for the RT by the way with his own company also clarfies matters further, think he used the terminology of being at the bottom of a volcano ready to erupt. 

Time people less informed less educated potentially opened there eyes. We are one and together in this but we can't do it without each other.

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blueboy3333 World Cup

blueboy3333

Posted
Posted
Just now, Dunnfc said:

The accountant and web share blogger (Ex-Fino Journo) when we met and i briefed him and two weeks ago sent the accounts over he wondered how we were not bust. Andy Neil a local based accuntant, standing for the RT by the way with his own company also clarfies matters further, think he used the terminology of being at the bottom of a volcano ready to erupt. 

Time people less informed less educated potentially opened there eyes. We are one and together in this but we can't do it without each other.

If you're going to call people 'less educated' then at least spell the attributive adjective that follows it correctly. It's 'their' eyes.

As for the content I think everyone is quite clear that we are in massive debt to owners whose intentions have never been clear. I don't personally need an accountant to tell me that. If Venky's walk away and call in their loans we are completely and utterly stuffed. I'm not even sure the club would survive. Therefore worrying about a few short-term loans which we all knew about anyway and calling them new 'revelations' strikes me as a bit absurd. 

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Dunnfc World Cup

Dunnfc

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Just now, blueboy3333 said:

If you're going to call people 'less educated' then at least spell the attributive adjective that follows it correctly. It's 'their' eyes.

As for the content I think everyone is quite clear that we are in massive debt to owners whose intentions have never been clear. I don't personally need an accountant to tell me that. If Venky's walk away and call in their loans we are completely and utterly stuffed. I'm not even sure the club would survive. Therefore worrying about a few short-term loans which we all knew about anyway and calling them new 'revelations' strikes me as a bit absurd. 

Sorry to quote your good-self (Futbol thread) 

Quote

You didn't answer the questions I put to you.

Why would you know more than a black footballer what it was like to be a black footballer? How is Leroy Rosenior a racial 'fantasist'? You had a rant about Campbell but never explained why Leroy was a 'fantasist'

Would you mind responding to mine please? 

Mods - Blueboy might need a new username! 

Twice in a week Blueboy... Who's not very bright? Ignorant? Tell me what you do? PM if needed pal :tu:

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broadsword World Cup

broadsword

Posted
Posted
Just now, blueboy3333 said:

Therefore worrying about a few short-term loans which we all knew about anyway and calling them new 'revelations' strikes me as a bit absurd. 

We're leaking signs of distress.

It would be OK to owe so much Venky's (well, not OK really, but OK as in not terminal) if they were continuing to fund the club as a going concern.

Clearly they're not, and we're now getting in emergency finance just to keep going.

Totally toxic. It seems to me as if we're on borrowed time now.

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blueboy3333 World Cup

blueboy3333

Posted
Posted
Just now, broadsword said:

We're leaking signs of distress.

It would be OK to owe so much Venky's (well, not OK really, but OK as in not terminal) if they were continuing to fund the club as a going concern.

Clearly they're not, and we're now getting in emergency finance just to keep going.

Totally toxic. It seems to me as if we're on borrowed time now.

You could very well be right.

My point is re the short-term loans. How common are they within football (outside the Prem and moneyed Championship clubs), and how many clubs use them to finance their business. It certainly appears they are not uncommon.  

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Dunnfc World Cup

Dunnfc

Posted
Posted
Just now, blueboy3333 said:

You could very well be right.

My point is re the short-term loans. How common are they within football (outside the Prem and moneyed Championship clubs), and how many clubs use them to finance their business. It certainly appears they are not uncommon.  

Not very common pal.

bolton last year nucleas finance.

Off out but pm, banter aside il fill in the blanks for you

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blueboy3333 World Cup

blueboy3333

Posted
Posted
Just now, Dunnfc said:

Sorry to quote your good-self (Futbol thread) 

Would you mind responding to mine please? 

Mods - Blueboy might need a new username! 

Twice in a week Blueboy... Who's not very bright? Ignorant? Tell me what you do? PM if needed pal :tu:

Mods?

I'm a male model. I don't have to be clever. Just pretty.

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Mike E World Cup

Mike E

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Posted
15 minutes ago, blueboy3333 said:

If you're going to call people 'less educated' then at least spell the attributive adjective that follows it correctly. It's 'their' eyes.

As for the content I think everyone is quite clear that we are in massive debt to owners whose intentions have never been clear. I don't personally need an accountant to tell me that. If Venky's walk away and call in their loans we are completely and utterly stuffed. I'm not even sure the club would survive. Therefore worrying about a few short-term loans which we all knew about anyway and calling them new 'revelations' strikes me as a bit absurd. 

Wtf is an attributive adjective? Did you mean the determiner 'their' which he spelt as the adverb 'there'?

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blueboy3333 World Cup

blueboy3333

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Posted
4 minutes ago, Mike E said:

Wtf is an attributive adjective? Did you mean the determiner 'their' which he spelt as the adverb 'there'?

No, potty mouth.

http://www.dictionary.com/browse/their

pronoun
1.
a form of the possessive case of they used as an attributive adjective, before a noun:
their home; their rights as citizens; their departure for Rome.
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chaddyrovers

chaddyrovers

Posted
Posted
Just now, AllRoverAsia said:

Does anyone have a link to the Radio Lancs audio on the meeting?

It was apparently on at 7 pm on Friday evening.

I have BBC Radio player app but at 7 pm the station auto switches to iplayer radio and the Georgey Spanswick show.

Not yet. I will tweet Radio Lancs for a link

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chaddyrovers

chaddyrovers

Posted
Posted
7 hours ago, AllRoverAsia said:

Does anyone have a link to the Radio Lancs audio on the meeting?

It was apparently on at 7 pm on Friday evening.

I have BBC Radio player app but at 7 pm the station auto switches to iplayer radio and the Georgey Spanswick show.

Here the link

LISTEN AGAIN... 

 

Blackburn @Rovers supporters' consultation meeting

https://t.co/yxN5liI9bS… - https://t.co/B6H0T1kQ3D

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Athlete Champions League

Athlete

Posted
Posted
7 hours ago, AllRoverAsia said:

Thanks Chaddy.:rover:

Edit : LT Report on the Meeting

http://www.lancashiretelegraph.co.uk/sport/football/rovers/news/15196726.All_the_analysis_from_Rovers__39__Supporters_Consultation_meeting/?ref=mac

Some poor comments in the comments section a bit like some of the newbies on here... Can't see the wood for the trees 

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