[Archived] Venkys London Ltd Accounts

[Mercer]

2 hours ago, Dunnfc said:

That is quite true although they still have to write to anyone with any holding confirming they are doing x,y,z etc.

I'd have to dig out the articles of association but  it holds no right when you take into account the majority 75% holding.

Think you might have the wrong end of the stick here.

We are talking about a share issue here by Venkys London Limited who issue shares in order to lend money to its subsidiary, The Blackburn Rovers Football and Athletic Limited (where there is a very tiny minority of other shareholders).

Last time I bothered looking, Venkateshwara Hatcheries Private Limited is the sole shareholder in Venkys London Limited.

As I said earlier, within the framework of company law, the Raos can do want they want here.  If they are minded to, there will be further share issues otherwise Rovers will almost certainly become insolvent.

[tomphil]

Didn't they issue a similar small amount around this time last year ? Maybe they stand the interest on loans taken to run the club by the club or it could just be to cover managerial changes like last year. Either way it seems to be being drip fed now just enough to keep it going and clear they've no intention of buying players ever again it seems, not that they've ever used their own coin for that imo anyway.

Anyway how do we know these issues come to the club, maybe Hitlab need some new microphones or something 

[1arC]

HMRC issue a winding up order against Leyton Orient. Lets hope it isn't us next.

[Brian-Potter]

The shares are being issued in VLL of which Venkys are the sole shareholders as Mercerman says, this has no bearing on minority shareholders in BRFC.

VLL will do doubt have then immediately loaned this 666k to BRFC but I would be inclined to think this relates to the managerial changes as the costs of this would be an extradordinary charge and therefore not in the clubs cash flow forecasts.

[Mercer]

43 minutes ago, Brian-Potter said:

The shares are being issued in VLL of which Venkys are the sole shareholders as Mercerman says, this has no bearing on minority shareholders in BRFC.

VLL will do doubt have then immediately loaned this 666k to BRFC but I would be inclined to think this relates to the managerial changes as the costs of this would be an extradordinary charge and therefore not in the clubs cash flow forecasts.

If you are correct, and I have already flagged this as being a likely reason for the issue, the allotment of shares on 13 Feb., some 10 days earlier than the sacking of Coyle and cronies, lends credence to the gossip I heard, and posted on here some weeks ago, that Coyle was on the thinnest of ice and it was a question of when rather than if. 

[Bigdoggsteel]

Super-Agent Jorge Mendes made a cool £1.3m from the deal that brought winger Helder Costa to Wolves, Benfica have revealed.

[tomphil]

All these foreign ownership deals follow the same pattern and most seem to have agents in them balls deep or at the very least taking advantage of the situation. There's an agent involved with Fawaz at Forest i believe and they are going down a similar path as Rovers. These agents fees will get divided up in all directions i bet, it's all a big con.

Paper accounts/losses/Debt  v  Cold hard cash taken out.

[Exiled in Toronto]

2 hours ago, tomphil said:

All these foreign ownership deals follow the same pattern and most seem to have agents in them balls deep or at the very least taking advantage of the situation. There's an agent involved with Fawaz at Forest i believe and they are going down a similar path as Rovers. These agents fees will get divided up in all directions i bet, it's all a big con.

Paper accounts/losses/Debt  v  Cold hard cash taken out.

 I'm convinced the reason agents are so prevalent is that they are just a conduit to funnel money to managers and directors. Why should the players get it all? Plenty for everyone.

[Reedy You're A Star]

3 hours ago, tomphil said:

All these foreign ownership deals follow the same pattern and most seem to have agents in them balls deep or at the very least taking advantage of the situation. There's an agent involved with Fawaz at Forest i believe and they are going down a similar path as Rovers. These agents fees will get divided up in all directions i bet, it's all a big con.

Paper accounts/losses/Debt  v  Cold hard cash taken out.

Well they've had a trial run at City that failed, then perfected it at Rovers, got away with it and made a bundle. Allegedly..  Why shouldn't other agents / owners get a slice of the pie? Bunch of corrupt @#/?s.

[tomphil]

2 hours ago, Exiled in Toronto said:

 I'm convinced the reason agents are so prevalent is that they are just a conduit to funnel money to managers and directors. Why should the players get it all? Plenty for everyone.

And some of the so called owners as well, buy clubs with debt that may be secured against so called assets in another country to get around the fit and never proper farce. Or run them through corporations they already own and lose it in the books whilst getting a nice bit of pocket money directly back into their personal back sack. 

Are the agents a mask for the real owners and their money go round or are the so called owners just a public face for the agents ? Something goes on that has nothing to do with football or the clubs themselves for sure.

[Dunnfc]

8 hours ago, Bigdoggsteel said:

Super-Agent Jorge Mendes made a cool £1.3m from the deal that brought winger Helder Costa to Wolves, Benfica have revealed.

10% of the deal then even though FA say 3-5%... Nice to know those rules are working. He's already now linked to Liverpool in the summer for 20 million so he could collect another 2.

Will only get worse with tv money driving transfer fees up even for the most average of players.

[Bigdoggsteel]

Well done Alan Shearer 

http://indianexpress.com/article/sports/football/venkys-should-sell-blackburn-rovers-feels-alan-shearer-4553310/

[RoversClitheroe]

When does this loan run out, that we thought would be the end game? 

[Dunnfc]

Just now, RoversClitheroe said:

When does this loan run out, that we thought would be the end game? 

End of this month isn't it...?

[Stuart]

37 minutes ago, RoversClitheroe said:

When does this loan run out, that we thought would be the end game? 

For all the bravado, the numbers for Venkys ownership in 2017/18 just don't add up.

[Norbert Rassragr]

Hopefully with the loans running out, Venky's will decide now it is time to go. Unlikely, as they're absolute twonks who seem to live for ruining the club, but there is hope. It sounds like a financial D-Day is approaching soon looking at the figures. The debt is so big it is more than just offloading a few players.

[BrisRover]

Not sure where to put this but I thought this was a very interesting read, especially towards the end 

https://medium.com/@jacopopiotto/show-dont-sell-70fb07066bc4#.kznm1uked

[Athlete]

Just now, BrisRover said:

Not sure where to put this but I thought this was a very interesting read, especially towards the end 

https://medium.com/@jacopopiotto/show-dont-sell-70fb07066bc4#.kznm1uked

Wow very interesting reas