Venkys London Ltd accounts

[Miller11]

The Walker family certainly contributed. Couldn’t wait to offload us and practically gave the club away to the idiots.

If they’d continued to put in £5 million a year for another 3 years, or even just allowed us to increase the debt level from 20-35 million things could’ve been oh so different. They didn’t even need to be benevolent, just respectful. I’m confident John Williams would’ve ensured we retained our top flight status even if he was instructed to make savings, and 2013 saw the TV money go to absolutely mental levels. The deal doubled from 1.5 to 3 billion.

Their short sightedness and lack of respect for Jack’s legacy opened the door for Venky’s complete incompetence to set us back decades and cause probably irreparable damage. Shameful from all involved.

[47er]

10 hours ago, Miller11 said:

The Walker family certainly contributed. Couldn’t wait to offload us and practically gave the club away to the idiots.

If they’d continued to put in £5 million a year for another 3 years, or even just allowed us to increase the debt level from 20-35 million things could’ve been oh so different. They didn’t even need to be benevolent, just respectful. I’m confident John Williams would’ve ensured we retained our top flight status even if he was instructed to make savings, and 2013 saw the TV money go to absolutely mental levels. The deal doubled from 1.5 to 3 billion.

Their short sightedness and lack of respect for Jack’s legacy opened the door for Venky’s complete incompetence to set us back decades and cause probably irreparable damage. Shameful from all involved.

Yes---buck started with the Trust and carries on with Venkys.

[cesus]

Another £29.5m worth of shares have been added by Venkys. I'd probably prefer to watch that money be set on fire than watch the current set up spend it!

[chaddyrovers]

These shares are to Rovers accounts not Venkys London limited accounts 

[roversfan99]

No doubt we will now be inundated with people saying how grateful we should be for what is essentially an accounting necessity rather than some great deed.

[Guest]

Could somebody with an understanding of all of this terminology that's far superior to mine explain the situation in basic terms?

[Tom]

Interesting reply to one tweet about this 

 

A name some may be familiar with 

[OldEwoodBlue]

2 minutes ago, Tom said:

Interesting reply to one tweet about this 

A name some may be familiar with 

Making my blood boil Tom.

 

[arbitro]

5 minutes ago, Tom said:

Interesting reply to one tweet about this 

 

A name some may be familiar with 

Mowbrays agent?

[Hoochie Bloochie Mama]

Anyone know the significance of the money being allocated to the club accounts rather than VLL? Why would this be done?

[Mashed Potatoes]

1 hour ago, JoeH said:

Could somebody with an understanding of all of this terminology that's far superior to mine explain the situation in basic terms?

I think this is not new money. The money comes from India via a share issue by Venkys London and then put in the club as a loan. What has happened today is that part of the loan has been converted to share capital. This last happened in December 2015. No idea why they have done it but at least the balance sheet of the club will look better.

[tomphil]

3 million was converted last time we were up the creek with FFP.

[Hoochie Bloochie Mama]

Blackburn Rovers' accounts show share allotment rise of £29.5m | Lancashire Telegraph

The last, and only previous share allotment, in the Rovers accounts are dated to November 2015, a month before the club saw their previous transfer embargo lifted.

[tomphil]

1 hour ago, cesus said:

Another £29.5m worth of shares have been added by Venkys. I'd probably prefer to watch that money be set on fire than watch the current set up spend it!

I doubt it's to spend more like mostly squaring off what's already spent.

Wonder if this was the assurance the FFP people were waiting for.

[JHRover]

10 minutes ago, Mashed Potatoes said:

I think this is not new money. The money comes from India via a share issue by Venkys London and then put in the club as a loan. What has happened today is that part of the loan has been converted to share capital. This last happened in December 2015. No idea why they have done it but at least the balance sheet of the club will look better.

I suspect this is at the insistence of the Football League. They will want to see evidence of actual cash going into the club rather than into holding/parent companies. 

When QPR were in bother one of the outcomes was they had to agree to convert 'debt' into shares and I suspect this is a similar arrangement/motive - I can't see any other reason than for FFP requirements although I stand to be corrected.

[JHRover]

I see Craig Honeyman has taken to twitter to praise Venkys for their latest cash injection. Claims they are fantastic owners who deserve so much for how they support the club and community.

I kid you not.

A quick Google search will tell you Craig Honeyman is involved at HSH sports and was involved at SEM.

He's also from Middlesbrough.

Doesn't take much to join the dots around here.

[OldEwoodBlue]

I have no idea if this represents good news or bad news for Rovers.

Clearly it is something to do with the P&S compliance and the embargo.

But is it a permanent injection or a bridging loan payable back when Armstrong is sold?

Who fecking knows !?

 

[Miller11]

16 minutes ago, JHRover said:

I see Craig Honeyman has taken to twitter to praise Venkys for their latest cash injection. Claims they are fantastic owners who deserve so much for how they support the club and community.

I kid you not.

A quick Google search will tell you Craig Honeyman is involved at HSH sports and was involved at SEM.

He's also from Middlesbrough.

Doesn't take much to join the dots around here.

He will love Venky’s… they let him pick all our managers!

[RevidgeBlue]

17 minutes ago, JHRover said:

I see Craig Honeyman has taken to twitter to praise Venkys for their latest cash injection. Claims they are fantastic owners who deserve so much for how they support the club and community.

I kid you not.

A quick Google search will tell you Craig Honeyman is involved at HSH sports and was involved at SEM.

He's also from Middlesbrough.

Doesn't take much to join the dots around here.

No, that's what Tom was alluding to. He'll be creaming his pants at the prospect of Mowbray wasting any available money on his deadbeat clients once again.

He may yet turn out to be disappointed.............

[JHRover]

1 minute ago, Miller11 said:

He will love Venky’s… they let him pick all our managers!

Perhaps the only people who have done well out of the last 10 years have been our managers and those that represent them.

Quite the gravy train and no end in sight.

[Miller11]

Let’s see if the prick responds…

[tomphil]

I wonder how much him and his other parasites have had of their money, adding to our debt.

It's a wonderful situation for the likes of him and his clients.

[Stuart]

So are we under an embargo yet then?

[Hoochie Bloochie Mama]

Just now, Stuart said:

So are we under an embargo yet then?

We have been since March. We still are. The club's just not bothered telling anyone. Bit like the training ground thing...

[OldEwoodBlue]

2 minutes ago, Hoochie Bloochie Mama said:

We have been since March. We still are. The club's just not bothered telling anyone. Bit like the training ground thing...

If we only tell the peasants the good news the fools will flock to buy season tickets.

The Blues Bar is open Friday and Saturday you know.