Venkys London Ltd accounts

[JBiz]

11 hours ago, Stuart said:

This is the problem the longer Venkys are here. Young, ignorant fans don’t know any different and history will be rewritten. Stockholm syndrome in full flow.

Mowbray has cleverly tapped into this zeitgeist with talk of us “not having Shearer and Sutton any more”.

I just wish these know-nowts weren’t quite so smug. The lad there “Finch” was probably in primary school when these club killers rocked up.

They are the biggest threat to the future of this club and we are totally reliant on them writing off £200m (and rising). Meanwhile they are being 👏🏻👏🏻👏🏻👏🏻‘d at by the young generation of fans, who blame other supporters for our plight.

Stockholm syndrome, zeitgeist? Sounds like you’re the one blaming other supporters to me.

I personally wished the so called “know summats” would be a little more open minded to the idea that not everyone (including myself) wants the “nuclear” solution that just basically means; Goodbye Venky’s, sold players, academy, training facility, ground to lease back and any division… just to get shut! Aka the Wigan, the Bolton, the Bury. 

Whilst that may be the favoured route on this particular forum - I’d expect the majority of rovers fans would regard it completely out of the question.

Myself included. Why burn the last advantage Jack Left? Without an academy, or having to rent our ground, or having to attract players in 4th tier or worse?

I know the answers people will have for those questions here, but I also know those posters will be the first to point out “poor football” or players who look “alien” on the pitch.

If you think our squad, performances and football is bad now but advocate that route- I’ve got some bad news for you.

 

[broadsword]

2 hours ago, tomphil said:

D Day... day was missing for some reason.

An right, I was thinking there was a big direct debit that was going to break the bank 🤣 

[Herbie6590]

1 hour ago, broadsword said:

An right, I was thinking there was a big direct debit that was going to break the bank 🤣 

The payment we make to Forest when Brereton is capped…😳

[Leonard Venkhater]

2 hours ago, JBiz said:

Stockholm syndrome, zeitgeist? Sounds like you’re the one blaming other supporters to me.

I personally wished the so called “know summats” would be a little more open minded to the idea that not everyone (including myself) wants the “nuclear” solution that just basically means; Goodbye Venky’s, sold players, academy, training facility, ground to lease back and any division… just to get shut! Aka the Wigan, the Bolton, the Bury. 

Whilst that may be the favoured route on this particular forum - I’d expect the majority of rovers fans would regard it completely out of the question.

Myself included. Why burn the last advantage Jack Left? Without an academy, or having to rent our ground, or having to attract players in 4th tier or worse?

I know the answers people will have for those questions here, but I also know those posters will be the first to point out “poor football” or players who look “alien” on the pitch.

If you think our squad, performances and football is bad now but advocate that route- I’ve got some bad news for you.

 

I don't know the answer, JBiz, but I guess Stuart's post and your own show the whole, awful Blackburn Rovers dilemma.

I understand that the "rhetoric of risk" is more dramatic and exciting than that of caution. However, Rovers are clearly going nowhere, except backwards and that seems like a slow, lingering death, in itself.

I have started to see the current malaise as the pointless pain before a knee replacement. After the operation, the pain is somehow more worthwhile, as it paves the road to recovery.

 

 

[G Somerset Rover]

14 hours ago, Stuart said:

They are the biggest threat to the future of this club and we are totally reliant on them writing off £200m (and rising). Meanwhile they are being 👏🏻👏🏻👏🏻👏🏻‘d at by the young generation of fans, who blame other supporters for our plight.

Unfortunately, many of our fans deserve the Venky's. They infuriate the heck out of me. I'm sure every club has them, but we seem to have a much higher proportion of naive morons than your average side.

The same lot will no doubt have wiped Tony's slate completely clean this season too and will be giving him "til Christmas", "til Summer 2022" and beyond.

Edited June 9, 2021 by Gavlar Somerset Rover!

[tomphil]

7 hours ago, JBiz said:

Stockholm syndrome, zeitgeist? Sounds like you’re the one blaming other supporters to me.

I personally wished the so called “know summats” would be a little more open minded to the idea that not everyone (including myself) wants the “nuclear” solution that just basically means; Goodbye Venky’s, sold players, academy, training facility, ground to lease back and any division… just to get shut! Aka the Wigan, the Bolton, the Bury. 

Whilst that may be the favoured route on this particular forum - I’d expect the majority of rovers fans would regard it completely out of the question.

Myself included. Why burn the last advantage Jack Left? Without an academy, or having to rent our ground, or having to attract players in 4th tier or worse?

I know the answers people will have for those questions here, but I also know those posters will be the first to point out “poor football” or players who look “alien” on the pitch.

If you think our squad, performances and football is bad now but advocate that route- I’ve got some bad news for you.

 

We could very well end up like that with them at the helm. I think that's the issues for a few, me included.

I'd much rather go down the pan without them that with them.

[tomphil]

Some interesting reading in the LEP today in regards to Hemmings funding.

He's put in via share capital 13 million since last June to underwrite their running costs AND buy and refurbish their Euxton training ground.

So the club that regularly out performs us and beats us costs less to run and they've paid off a manager.

I know we have bigger running costs because of the Academy and our wage bill will dwarf theirs. Probably costing Rovers 2 million a year just for Mowbray, Venus and Waggot. Now can anyone honestly say that is money well spent ?

Before you even start on the rest of the wage bill and the stuff that's still being paid for that's long gone.  Relegation was supposed to be the big reset but these lot are still pissing venkys money up the wall. Criminally wasting what is on offer here then looking to cut back and shrink the club to cover their own failings.

We are getting upper table backing and being run by league one'rs.

Drain the swamp.

 

[JBiz]

1 hour ago, tomphil said:

We could very well end up like that with them at the helm. I think that's the issues for a few, me included.

I'd much rather go down the pan without them that with them.

10 years in they still pay the bills their mediocracy has incurred.

Minute we change hands - “Pandora’s box” is open.

Im all for a change but I want guarantees, and I’m sure I speak for a majority when I say that I’d rather plod on with the ignorant billionaires than throw our near and far future to the wolves!

Each to their own.

[lraC]

47 minutes ago, JBiz said:

10 years in they still pay the bills their mediocracy has incurred.

Minute we change hands - “Pandora’s box” is open.

Im all for a change but I want guarantees, and I’m sure I speak for a majority when I say that I’d rather plod on with the ignorant billionaires than throw our near and far future to the wolves!

Each to their own.

There are no such things as guarantees in football. We have come close to it though, as I am pretty sure that whilst these lot are in charge, we won’t get back to the prem and the debt will increase, year on year. 

[roversfan99]

2 hours ago, JBiz said:

10 years in they still pay the bills their mediocracy has incurred.

Minute we change hands - “Pandora’s box” is open.

Im all for a change but I want guarantees, and I’m sure I speak for a majority when I say that I’d rather plod on with the ignorant billionaires than throw our near and far future to the wolves!

Each to their own.

I think thats a somewhat understandable opinion to an extent. What riles is when people actively appreciate and praise Venkys for simply issuing share capital in their parent company which is what they have to do to offset the self inflicted losses that Rovers as a business generate. Willing to tolerate out of necessity, fine, appreciate and praise, totally unwarranted.

[tomphil]

The whole fact of it is THEY created this situation, not the Walkers not the fans.

Some of these kids are prattling on like the Vs are some kind of saviors of Rovers protecting us from oblivion. I know they've only known this ownership but what is it with the young generation and not accepting historical Facts ?

Has our history pre Dec 2010 now been cancelled just because it better suits the modern narrative for what they'd rather believe ?

Strange lot.

 

[broadsword]

Yes thank God they saved us from the fiscal security of the premier ship's top six. 

 

Good work there, Venky's. For a while I was truly worried that we'd never see third tier football at rovers again in my lifetime. But would you know it , you managed it. Took a wee bit longer than Jack Walker did to take us from second tier lower table to top flight champions, but God bless you. 

Twats. 

Edited June 9, 2021 by broadsword

[AllRoverAsia]

5 hours ago, tomphil said:

The whole fact of it is THEY created this situation, not the Walkers not the fans.

Some of these kids are prattling on like the Vs are some kind of saviors of Rovers protecting us from oblivion. I know they've only known this ownership but what is it with the young generation and not accepting historical Facts ?

Has our history pre Dec 2010 now been cancelled just because it better suits the modern narrative for what they'd rather believe ?

Strange lot.

 

The Vs are not protecting us from oblivion under their ownership, they are just deferring it until some future date.

The Vs will have a limit on their financial support of Rovers but due to their deliberate, long running and ongoing dumbing down of the Club that could be years in the future.

They don't appear to care and have never shown any appetite for a real try at promotion out of Division 2 aka The Championship.

I mean really with Vs as owners and Mowbray as manager and Maggott as CEO or whatever he calls himself today we are on a continuous downwards path. It's a con of a Club and sickens me.

I know it's coming on Summer so we have the annual off season apologists appearing but quite honestly their crap goes straight through as does the social media 'online' fanbase who wouldn't be able to find Ewood on Google Maps.

Under Vs we are a lost cause, a failed state and it's not going to get any better.

Meanwhile I'm quite sure that the housebuilders club are working on strategy.

Edit: I just noticed I managed a post without profanity. Now that is progress.

 

Edited June 10, 2021 by AllRoverAsia

[RoversClitheroe]

Buzzing to boo Mowbray when we're allowed back.

Think we need a massive protest personally.

[47er]

11 hours ago, tomphil said:

The whole fact of it is THEY created this situation, not the Walkers not the fans.

Some of these kids are prattling on like the Vs are some kind of saviors of Rovers protecting us from oblivion. I know they've only known this ownership but what is it with the young generation and not accepting historical Facts ?

Has our history pre Dec 2010 now been cancelled just because it better suits the modern narrative for what they'd rather believe ?

Strange lot.

 

Walkers don't come out well from all that has happened though?

[phili]

59 minutes ago, 47er said:

Walkers don't come out well from all that has happened though?

It's a difficult situation with them.

They didn't really have the available cash to continue investing with Flybe etc consuming more of their investment capital as well as other issues following the financial crash. Also at the time the Walker family were suing the trust for financial mismanagement.

The trust found a billionaire family to take on the club and unfortunately assumed they were competent business people who would continue the running of the club in a similar way to they way they had. They should probably have done more to explain the situation to them about agents running the club, how that would be illegal, double standard two face liars of agents, explained if you are relegated from the Premier League, you're are screwed so important to keep in it etc. 

At the end of the day, once it is sold and it up to the new owners to run the business as they see fit and there is not a lot you can do to stop them doing so.

[47er]

28 minutes ago, phili said:

It's a difficult situation with them.

They didn't really have the available cash to continue investing with Flybe etc consuming more of their investment capital as well as other issues following the financial crash. Also at the time the Walker family were suing the trust for financial mismanagement.

The trust found a billionaire family to take on the club and unfortunately assumed they were competent business people who would continue the running of the club in a similar way to they way they had. They should probably have done more to explain the situation to them about agents running the club, how that would be illegal, double standard two face liars of agents, explained if you are relegated from the Premier League, you're are screwed so important to keep in it etc. 

At the end of the day, once it is sold and it up to the new owners to run the business as they see fit and there is not a lot you can do to stop them doing so.

In my view they were too eager to cash in whatever the consequences. in the end they dudded themselves. If they had held on for a little longer with the Club in the Premiership they would have pocketed a lot more.

Served them right but didn't serve us right.

[phili]

50 minutes ago, 47er said:

In my view they were too eager to cash in whatever the consequences. in the end they dudded themselves. If they had held on for a little longer with the Club in the Premiership they would have pocketed a lot more.

Served them right but didn't serve us right.

Hindsight is a wonderful thing but at the time the  trust didn't have the funds to continue to invest the £5m a season.

Also The remaining Walker family were suing them for mismanagement of the trust and that included continuing to fund Rovers which the family considered a financial mismanagement.

I think if the Walker family had not launched the lawsuit at the time the Trust may well have kept the club but at a much lower continued investment of say £2m a season but we will never know. 

Also to continue to compete at the time the Premier League was becoming a Billionaires playground and the Trust didn't have the funds so found Billionaires who wanted to have a football club.

The sad thing is if they had waited 12 months for the new TV deals to kick in we would have been a self funding operation.

It's just incredibly depressing looking back on what might have been and how we are run now.

 

[47er]

6 minutes ago, phili said:

Hindsight is a wonderful thing but at the time the  trust didn't have the funds to continue to invest the £5m a season.

Also The remaining Walker family were suing them for mismanagement of the trust and that included continuing to fund Rovers which the family considered a financial mismanagement.

I think if the Walker family had not launched the lawsuit at the time the Trust may well have kept the club but at a much lower continued investment of say £2m a season but we will never know. 

Also to continue to compete at the time the Premier League was becoming a Billionaires playground and the Trust didn't have the funds so found Billionaires who wanted to have a football club.

The sad thing is if they had waited 12 months for the new TV deals to kick in we would have been a self funding operation.

It's just incredibly depressing looking back on what might have been and how we are run now.

 

Agree with most of that but I still blame the Walker Family. Jack died believing he had made adequate provision for the club he loved and they let him down.

 

[phili]

3 minutes ago, 47er said:

Agree with most of that but I still blame the Walker Family. Jack died believing he had made adequate provision for the club he loved and they let him down.

 

The Walker Family I do blame as well.

[JHRover]

1 hour ago, phili said:

It's a difficult situation with them.

They didn't really have the available cash to continue investing with Flybe etc consuming more of their investment capital as well as other issues following the financial crash. Also at the time the Walker family were suing the trust for financial mismanagement.

The trust found a billionaire family to take on the club and unfortunately assumed they were competent business people who would continue the running of the club in a similar way to they way they had. They should probably have done more to explain the situation to them about agents running the club, how that would be illegal, double standard two face liars of agents, explained if you are relegated from the Premier League, you're are screwed so important to keep in it etc. 

At the end of the day, once it is sold and it up to the new owners to run the business as they see fit and there is not a lot you can do to stop them doing so.

True, once the sale is complete then their power is gone.

But I think there is so much more they could have done prior to sale. Lets be honest. Sit around a table with Balaji, Venkatesh and their associates and it would become clear in the space of about 20 seconds that they didn't have a clue what they were talking about or doing and were a danger to the future of the club. With or without their agent in tow it would have been clear to anyone remotely interested or concerned in the wellbeing of the club.

If you are correct, and they couldn't afford for fund the club anymore then they had two alternative options.

1 was to effectively give the club away - to the fans or a consortium of local people - but forego a lump sum for the majority shareholding - in doing so ensuring people who cared about the club kept hold of it. They wouldn't have got their hands on £20 million though.

2 was to hold on to the club but refuse to invest any more money - this would have been a continuation n of their business model of the previous 4 -5 years.

Ultimately another 3-4 years and increased PL income would have made them much more money and new ownership options would have come along.

Now they might have had these concerns and doubts but were reassured or hopeful that it would all work out ok. That's their call.

They were a Trust fund, set up, instructed and paid from Jack Walker's organisation to manage his interests competently and responsibly and to protect those interests long term. I also think it would be very interesting indeed to read the Trust deed and see exactly what requirements Jack put in there. I was always under the impression there were requirements to fund the club long term not sell it after 5-6 years.

I don't think anyone could argue that they acted in the interests of the club in allowing the sale to go through. They wanted a sale and snapped off the hands of the first people who offered the cash. At best naively hoping it would work out will but more likely without a care in the world once the ink was dry.

Edited June 10, 2021 by JHRover

[MarkBRFC]

14 minutes ago, JHRover said:

True, once the sale is complete then their power is gone.

But I think there is so much more they could have done prior to sale. Lets be honest. Sit around a table with Balaji, Venkatesh and their associates and it would become clear in the space of about 20 seconds that they didn't have a clue what they were talking about or doing and were a danger to the future of the club. With or without their agent in tow it would have been clear to anyone remotely interested or concerned in the wellbeing of the club.

If you are correct, and they couldn't afford for fund the club anymore then they had two alternative options.

1 was to effectively give the club away - to the fans or a consortium of local people - but forego a lump sum for the majority shareholding - in doing so ensuring people who cared about the club kept hold of it. They wouldn't have got their hands on £20 million though.

2 was to hold on to the club but refuse to invest any more money - this would have been a continuation n of their business model of the previous 4 -5 years.

Ultimately another 3-4 years and increased PL income would have made them much more money and new ownership options would have come along.

Now they might have had these concerns and doubts but were reassured or hopeful that it would all work out ok. That's their call.

They were a Trust fund, set up, instructed and paid from Jack Walker's organisation to manage his interests competently and responsibly and to protect those interests long term. I also think it would be very interesting indeed to read the Trust deed and see exactly what requirements Jack put in there. I was always under the impression there were requirements to fund the club long term not sell it after 5-6 years.

I don't think anyone could argue that they acted in the interests of the club in allowing the sale to go through. They wanted a sale and snapped off the hands of the first people who offered the cash. At best naively hoping it would work out will but more likely without a care in the world once the ink was dry.

All true and fair I would say.

11 Years later with these idiots though, continually making the same mistakes.

I just can't blame the trust for that in 2021, venkys have had more than enough time to learn about what it takes to run a football club properly.

[roversfan99]

4 hours ago, RoversClitheroe said:

Buzzing to boo Mowbray when we're allowed back.

Think we need a massive protest personally.

If there was a protest, it would surely be at the owners. Mowbray is just a symptom.

[RevidgeBlue]

4 hours ago, phili said:

It's a difficult situation with them.

They didn't really have the available cash to continue investing with Flybe etc consuming more of their investment capital as well as other issues following the financial crash. Also at the time the Walker family were suing the trust for financial mismanagement.

The trust found a billionaire family to take on the club and unfortunately assumed they were competent business people who would continue the running of the club in a similar way to they way they had. They should probably have done more to explain the situation to them about agents running the club, how that would be illegal, double standard two face liars of agents, explained if you are relegated from the Premier League, you're are screwed so important to keep in it etc. 

At the end of the day, once it is sold and it up to the new owners to run the business as they see fit and there is not a lot you can do to stop them doing so.

Way too much credit being given to the Walker Trust, we were on the decline as a Club well before they left, the taps had been turned off completely and even when they were putting in relatively small amounts to cover losses it would never have been anything which put their own Finances at risk.

Also the Family was the Trust. It wasn't some separate mysterious shadowy entity.

[tomphil]

7 hours ago, 47er said:

Walkers don't come out well from all that has happened though?

That's more down to them not caring enough about the great mans wishes or having the desire to carry on his good work.

Regardless, everything that has happened has happened on Venkys watch.  They didn't get left owing million in hidden debt or transfer payments. They created something like a 10 million pound black hole in the first 6 months.

In a previously -5 million per season loss making entity with 30 million guaranteed income.

The buck starts and stops with them, the greedy disinterested uncaring Walkers are an afterthought by now.