Venkys London Ltd accounts

[RevidgeBlue]

8 hours ago, Leonard Venkhater said:

I am wondering who benefits from "losses" like that. What is the function, for whom?

However many millions they quote, I fail to be impressed. 

What a business failure! Add these "losses" to all the money from two seasons in the premier league , all the money from their fire sales and all the parachute payments..

Yet they never, ever appoint a proper manager, install a proper structure. However much money they quote, it is not f**** working!

Get out and let someone take over, who is willing and able to run a club properly.

Not one attempt at promotion to the top flight in 10 years....zombie club...only one outcome...

I used to think that "a tipping point" was imminent at the end of every wasted season.

Now, from anecdotal tales I've heard about Venky's wealth I believe they COULD prop us up like this indefinitely IF they wanted.

However just because they could do this, doesn't mean they will, or won't tire of it all of a sudden one day.

For me the ideal scenario would be to combine their financial clout with the leadership of a top class manager and some proper footballing and business acumen and local knowledge off the pitch.

The offers of help and support are out there, I hope the owners take the olive branch and combine forces before the situation on and off the pitch deteriorates still further.

[Peter]

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

[arbitro]

1 hour ago, Rolo PB said:

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

Fan-bloody-tastic post Rolo.

 

[Mattyblue]

Always enjoy Rolo’s bi-annual truth bombs…

[tomphil]

So Waggots notes in the accounts say that besides covid impact the losses have gone up because of investment in the team.

So where is the impact of that ?  Why aren't the owners looking at that ?

Nothing anyone can do about the covid scenario but continually letting people piss money can be rectified. No doubt the so called investment is mostly wages related and paying up of more installments. That being Brereton and Gallagher plus the alleged loan fees for a couple of others.

Yet the team continues to go nowhere and shows no tangible benefit for this so called investment !

Why are they so blind to this ?

[Leonard Venkhater]

4 hours ago, Rolo PB said:

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

I love this. It speaks to my heart.

It could be delivered by Olivier! It is our version of Henry V Crispian's Day speech lol

[broadsword]

This tale shall the rovers fan tell his son

It certainly yearned me that Bradley Orr wore the rovers garments

[Crimpshrine]

15 minutes ago, Leonard Venkhater said:

I love this. It speaks to my heart.

It could be delivered by Olivier! It is our version of Henry V Crispian's Day speech lol

Exactly. A superb, accurate and beautifully articulated post by @Rolo PB

On St Crispin's day the troops went into battle inspired by the speech. We fans need to do the same to rid the club of this Venky scurge. 

Reclaim the Rovers

 

[Leonard Venkhater]

2 minutes ago, Crimpshrine said:

Exactly. A superb, accurate and beautifully articulated post by @Rolo PB

On St Crispin's day the troops went into battle inspired by the speech. We fans need to do the same to rid the club of this Venky scurge. 

Reclaim the Rovers

 

Agreed. Rolivier 's speech certainly rallied me. 

I can't help wondering if Rolo loves Charles Laughton and Olivier, as much as he obviously loves Rovers.

How dare they!!!

[oldjamfan1]

5 hours ago, Rolo PB said:

The Rao’s are to football ownership what wood-rot is to Pinocchio 

 

Take a bow for this sentence alone - made me spill my brew!

[broadsword]

9 hours ago, RevidgeBlue said:

I used to think that "a tipping point" was imminent at the end of every wasted season.

Now, from anecdotal tales I've heard about Venky's wealth I believe they COULD prop us up like this indefinitely IF they wanted.

However just because they could do this, doesn't mean they will, or won't tire of it all of a sudden one day.

For me the ideal scenario would be to combine their financial clout with the leadership of a top class manager and some proper footballing and business acumen and local knowledge off the pitch.

The offers of help and support are out there, I hope the owners take the olive branch and combine forces before the situation on and off the pitch deteriorates still further.

I think you're right, they could keep us going like this indefinitely, I think they have the resources to do so.

 

I would caution against giving yourself false hope though. Venky's seeing the light would be like Keith Richards becoming a jehovahs witness. It's possible, but they'd need to fall head-first out of a palm tree more than just the once for that to happen. 

It's all about whether they want to cut their losses and crash the holding company, I think. 

 

But really, trying to figure out what their plan is is like trying to figure out why people watch reality TV. 

[CrouchingNunhiddenCucumber]

6 hours ago, Rolo PB said:

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

Wow, what a post. Says exactly how I feel in ways I couldn't hope to 

 

[Leonard Venkhater]

2 hours ago, broadsword said:

I think you're right, they could keep us going like this indefinitely, I think they have the resources to do so.

 

I would caution against giving yourself false hope though. Venky's seeing the light would be like Keith Richards becoming a jehovahs witness. 

Maybe he could record All Along the Watchtower...There must be some way outta here!

[broadsword]

THERE'S TOO MUCH CONFUSION

I CAN'T GET NO RELIEF

[Herbie6590]

On 08/07/2021 at 18:11, Mashed Potatoes said:

You can get an idea of how things are going by looking at the share issues by Venkys London as historically that is how the club has been funded. Interestingly the increase in the share capital between January 2020 and May 2021 has been "only" in the region of £22m whereas I would have expected more given the loss of income. Either there has been some reduction in the cost base or an increase in external borrowing or some bills have not been paid.

…or most likely, inter-company loans have increased to fund working capital requirements 

[Crimpshrine]

I see the full accounts are now available on the Companies House web site.

It looks to my untrained eye that the figures and reports were all signed and approved in December 2020.

With Mowbray stating that we have missed out on some transfer targets due to the embargo for late filing of the accounts, it begs the question why were they not filed at the earliest date possible after internal approval ?  

There may be valid reasons - anyone any ideas ?

[Herbie6590]

10 minutes ago, Crimpshrine said:

I see the full accounts are now available on the Companies House web site.

It looks to my untrained eye that the figures and reports were all signed and approved in December 2020.

With Mowbray stating that we have missed out on some transfer targets due to the embargo for late filing of the accounts, it begs the question why were they not filed at the earliest date possible after internal approval ?  

There may be valid reasons - anyone any ideas ?

There is an argument to not reveal a weak hand until the last possible moment & given that the EFL allowed a deferral due to Covid Rovers might have feared predatory activity by other clubs if we revealed the numbers sooner than everyone else ? Might have impacted upon potential transfer income ? 
This is little more than a theory clearly…🤷‍♂️
 

[JWU-Andy]

the Accounts where approved by the club on 11th December 2020 yet were somehow submitted late to Companies House - the deadline being 30th June 2021, however were actually submitted on 6th July 2021.

Absolute basics 🤯 

[tomphil]

Basically done on purpose then for some reason.

[chaddyrovers]

Football finance expert Kieran Maguire on Rovers' accounts

 

 

[rigger]

Bad news is still bad news no matter what the source. But I would rather hear facts, than speculation.

[Herbie6590]

The definitive breakdown of Rovers financial position from Swiss Ramble. It doesn’t make pretty reading

 

https://threadreaderapp.com/thread/1417004830372122629.html

[phili]

It is pretty dire set of figures but it is recoverable from with a 3 point plan:

1. Boost Matchday income: Lower season ticket and match day ticket prices to encourage more people to attend. More people in the ground more is spent on food, drinks and merchandise.

2. Boost Commercial Income: Increase in matchday attendances will see an increase in people wanting to be attracted to the brand through perimeter advertising etc, afterall who wants to advertise to only 12,000 people in the stadium when 20,000 could be achieved. Once all places are sold can then increase prices in future seasons for sponsors only.

3. Broadcasting Revenue: More games are likely to be broadcast with a 80% full stadium for example than a 30% full stadium.

It also needs a management team and club directors to act as one with the fans at the heart of every decision made by the club. This last bit is impossible without sweeping chnages.

[tomphil]

They explain it really well on there it's a great account.

Comments in regards to it are a bit hard to take at times though. We are reliant on the ownership yet at the same time they have dragged us into this position. It might not be great under another set of owners but i't would have to go some to be worse than what it is.

Only consolation is many in the Championship are in the same boat to varying degrees. We are just ahead of the pack, in a way we don't want to be.

One, just one season back in the Prem would've made things a little more acceptable as it shows on a few other clubs accounts. Yet these lot just throw good money after bad on managers from the same agency who are only capable of wasting half their money.

With what we have here and the amount the ownership is willing to write off annually it is very galling to be out performed continually by those with far less.

That sits at the door of those they employ as much as it sits with themselves.

Edited July 19, 2021 by tomphil

[RevidgeBlue]

6 hours ago, Herbie6590 said:

The definitive breakdown of Rovers financial position from Swiss Ramble. It doesn’t make pretty reading

 

https://threadreaderapp.com/thread/1417004830372122629.html

Shows how bad our Commercial Dep is when we're behind Barnsley and Luton in terms of revenue.

Although if Venky's are also pumping in £15 -£20m annually to cover losses does that not mean we are around 3rd or 4th in the table in terms of operating budget?