philipl Posted May 17, 2017 Posted May 17, 2017 Just now, Lancaster Rover said: I don't expect anything to come of this now to be honest, we've gone from nailed on for admin to preparing for imminent sale, which is un-Venkylike in extreme Well the £5.7m hasn't turned up without a reason.
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Iceman Posted May 17, 2017 Posted May 17, 2017 Just now, OJRovers said: You wouldn't put £6m into the club if it was in the process of being sold (for nothing). This is more capital than they have put in for 2/3 years. Why now? They've let the club spend £1m+ on interest vs transfers of £250k in that time. Nothing makes sense with this lot, unless there are benefits they are getting from washing this money through the club. Putting money in, even small amounts, is one way of covering your tracks.
pjt Posted May 17, 2017 Posted May 17, 2017 Could one of the groups of accountants be working for Northcote to see if it will still be viable for them to provide the hospitality?
G Somerset Rover Posted May 17, 2017 Posted May 17, 2017 Just now, philipl said: Well the £5.7m hasn't turned up without a reason. What are your thoughts as to why they have?
Dunnfc Posted May 17, 2017 Posted May 17, 2017 Looking at things it was always needed I think personally. Maybe to not this extent but near this mark to catch up on loss of revenue from last year if we are to use the published account figures from last June we'd end up pretty similar to the below. For instance no 10.1 million parachute this year however the EFL gained a 30% solidarity scheme in the summer to commence 16/17 on behalf of the EPL to every team in the Championship this season which is equivalent to a 30% payout to each team of a Y4 parachute payment i.e 10.1 million, whilst the estimated 600k drop off in matchday costs was probably offset by playing Manchester United at home and attracting a bumper crowd. Wages figure is courtesy of Alan Nixon and from my own workings and knowledge of 50% of the squad is probably reasonably accurate to 5%. The loans and payback is accurate given it comes direct fom the creditors list in the accounts and qualification section declaring the interest amounts at each representative APR. Wage bills from my experience go in align with your reporting financial period so in BRFC case 30th June to 30th June so I think the costs were probably needed to plug May/June costs till the accounts are filed 30th June 17. which will probably tally when KPMG are finished and there report synopsis of events digested by Balaji! The below gives 600k change , allowing for last tv money from championship and solidarity from Newcastle's straight bounce back up there maybe enough to keep going through July. Solidarity scheme - http://www.efl.com/news/article/2015/football-league-clubs-get-double-financial-boost-2281337.aspx Rovers last parachute cash - http://www.blackburn.vitalfootball.co.uk/article.asp?a=448095
philipl Posted May 17, 2017 Posted May 17, 2017 Don't get excited. At the beginning of the week everything was pointed towards liquidation or administration. The refinancing of VLL to the tune of nearly £6m suggests neither of those are likely so yes I have changed my mind again based on the best information available- which has dramatically changed the picture. EITHER, The bank has told Venky's- put your money in or we are going to call the loan then stuck accountants in at Venky's expense to see what they can secure their £15m overdraft against OR The club is being prepared for sale. If this were a bog standard cost cutting and asset sale exercise, you would have, at the absolute most, 5 bog standard staff accountants from the Rovers' own auditors- not the folks you fired two years ago for being too expensive/resigned and certainly not from their London or Manchester offices. Oh and sticking to the title of the thread, hearing that Venky's are still operationally on lock down across India.....
Brian-Potter Posted May 17, 2017 Posted May 17, 2017 Just now, philipl said: apparently the most recent wages came from a private trust fund in India. Mmmm that is interesting
Lancaster Rover Posted May 17, 2017 Posted May 17, 2017 Odds on to be option A and nothing happens of any note. Sick of the false hope.
philipl Posted May 17, 2017 Posted May 17, 2017 There is no basis for hope. But there are tectonic shifts in our state of hopelessness: - relegation - Indian tax raid - 20 highly expensive not your common or garden accountants marching into Ewood from KPMG on Monday - Senior gone but Mowbray (apparently) not - Vs opening the purse strings again with a capital injection and (apparently) paying April's wages Those are our hard facts- anything beyond that is sleuth work and deduction. Far more fun than watching a football match (not)
RoversClitheroe Posted May 17, 2017 Posted May 17, 2017 @Kamy100 can you confirm on these Chinese consortium rumours? Or are they just that? I've asked my contacts but they can't say.
Blue Cabbage Posted May 17, 2017 Posted May 17, 2017 Can we just skip to bullshit statement now, I tried not to get my hopes up, but I did. Stupid Cabbage.
Iceman Posted May 17, 2017 Posted May 17, 2017 3 minutes ago, philipl said: Don't get excited. At the beginning of the week everything was pointed towards liquidation or administration. The refinancing of VLL to the tune of nearly £6m suggests neither of those are likely so yes I have changed my mind again based on the best information available- which has dramatically changed the picture. EITHER, The bank has told Venky's- put your money in or we are going to call the loan then stuck accountants in at Venky's expense to see what they can secure their £15m overdraft against OR The club is being prepared for sale. If this were a bog standard cost cutting and asset sale exercise, you would have, at the absolute most, 5 bog standard staff accountants from the Rovers' own auditors- not the folks you fired two years ago for being too expensive/resigned and certainly not from their London or Manchester offices. Oh and sticking to the title of the thread, hearing that Venky's are still operationally on lock down across India..... As I said, 2 big accounting firms doesn't make sense for what we were told it was for. Never would 2 firms be needed for something like that. It's sale or administration, and the 6mill being put in is nothing but a way for Venkys to get HMRC off their backs
OJRovers Posted May 17, 2017 Posted May 17, 2017 Anyone think the £6m is a summer war-chest for Mowbray to lead a promotion push?
Blue Cabbage Posted May 17, 2017 Posted May 17, 2017 Just now, OJRovers said: Anyone think the £6m is a summer war-chest for Mowbray to lead a promotion push?
J*B Posted May 17, 2017 Posted May 17, 2017 Just now, OJRovers said: Anyone think the £6m is a summer war-chest for Mowbray to lead a promotion push? Can I just check... you've been seeing the same things as me over these past 6 years, right?
broadsword Posted May 17, 2017 Posted May 17, 2017 Just now, OJRovers said: Anyone think the £6m is a summer war-chest for Mowbray to lead a promotion push? Onwards, brethren... TO THE CHAMPION'S LEAGUE AND BEYOND!
sjsbrfc Posted May 17, 2017 Posted May 17, 2017 Just now, OJRovers said: Anyone think the £6m is a summer war-chest for Mowbray to lead a promotion push? Please stop smoking what ever it is you are smoking
Dunnfc Posted May 17, 2017 Posted May 17, 2017 Just now, broadsword said: Onwards, brethren... TO THE CHAMPION'S LEAGUE AND BEYOND! Desai still thinks 5million and some leasing will plug gaps. meanwhile balaji after finishing her s third dinner claims he's got 300 million in his sky rocket
Dunnfc Posted May 17, 2017 Posted May 17, 2017 Just now, sjsbrfc said: Please stop smoking what ever it is you are smoking OJ is a good lad tbf
Bigdoggsteel Posted May 17, 2017 Posted May 17, 2017 Just now, sjsbrfc said: Please stop smoking what ever it is you are smoking No, keep smoking it and post me some!
blueboy3333 Posted May 17, 2017 Posted May 17, 2017 Where has this new £6m 'injection' figure come from? If true it doesn't point towards a sale of the club.
broadsword Posted May 17, 2017 Posted May 17, 2017 Balaji got his moobs out for a women's publication plus sold a kidney. That's too cover April and May's wages bill. He's a bit worried about having to sell the other kidney to cover summer wages
Roverall Posted May 17, 2017 Posted May 17, 2017 Can I have three pints of false hope and an arsenic chaser to go with my Chinese consortium order? Ta.
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