Venkys London Ltd accounts

[tomphil]

I'd assume that some within the Trust and within the Walker family wanted to do it properly and put Jacks legacy into decent hands whilst others in both camps wanted rid.   Anyway, anyhow and as soon as possible so they could collect their unwarranted 30 pieces of silver. 

As mentioned above the fact con artist Syed was in the building looking at the books and probably planning his sting before he was outed by a journalist shows what a sham it all was.  I still think that in terms of Vs takeover somebody somewhere was greasing the right wheels to make sure it got done. Once it became clear they could stump up the money and were running a legit business of course.

Unless something was well hidden in the books the club was a steal. The values of just Jones and Samba alone who cost little or nothing in fees covered the asking price and overdraft.  I'm sure that type of thing was a selling point by the spiv and his gang.

[Mashed Potatoes]

18 minutes ago, JHRover said:

It is almost inconceivable that within the last decade the only two serious bidders for an established Premier League club available at a relatively low price were Venkys and Ali Syed. 

That alone tells me that something was amiss with the whole thing.

We can forget any notions of the Walker Trust wanting right by the club or giving a stuff. They wanted the money asap and were prepared to offload the club to the first chancers that offered the cash.

Remember when Radio 5 outed Ali Syed as a fraudster? Some reporter at the BBC quickly worked out what Syed was whilst the Trust were allowing him and his cronies access to Ewood Park. Can only imagine what would have happened if that BBC report hadn't been done. I'm sure they have handed the lot over to him and we'd have been central to an epic swindle.

I don't believe that the sale of the club was transparent or done for the clubs best interests. When you look at the efforts the likes of Whelan at Wigan went to sell them on to foreign owners whilst in the Championship and Wolves under Steve Morgan to Fosun we can see there is a chance of new ownership if homework is done and efforts made to protect the club 

 

I think that is unduly harsh on the Walker Trust. Venkys are genuinely wealthy people - hence their ability to absorb these losses - and are also honest with no suggestion of "dodgy" connections as there have been at some other clubs. The problem is that nobody could have anticipated that successful business people would have made such terrible mistakes.

[davulsukur]

Just now, Mashed Potatoes said:

I think that is unduly harsh on the Walker Trust. Venkys are genuinely wealthy people - hence their ability to absorb these losses - and are also honest with no suggestion of "dodgy" connections as there have been at some other clubs. The problem is that nobody could have anticipated that successful business people would have made such terrible mistakes.

Are you actually saying Venkys are honest and there are no dodgy connections to anyone?

Edited November 4, 2019 by davulsukur

[Mashed Potatoes]

Just now, davulsukur said:

Are you actually saying Venkys are honest and there are no dodgy connections to anyone?

Yes 

[Crimpshrine]

The £175m is loaned to Rovers interest free by VLL but I am sure a large chunk of it is provided to VLL by a 'Bank facility' with the Bank of India.

At some point that will need to be repaid. Maybe Venky's (India) are covering the interest on this loan but surely it can't go on forever. At some point BOI will call it in.

[davulsukur]

2 minutes ago, Mashed Potatoes said:

Yes 

Jerome Anderson?

SEM/Kentaro?

Suhail Pasha?

Shebby Singh?

"We will absolutely respect the Jack Walker legacy"

"We will support the existing board and its members"

"We will support the current management team"

They won't even tell us why they own us!

[Sparks Rover]

3 minutes ago, Crimpshrine said:

The £175m is loaned to Rovers interest free by VLL but I am sure a large chunk of it is provided to VLL by a 'Bank facility' with the Bank of India.

At some point that will need to be repaid. Maybe Venky's (India) are covering the interest on this loan but surely it can't go on forever. At some point BOI will call it in.

They can call it in all they want and Venkys will need to pay it as they are the owners

[Amo]

Just now, davulsukur said:

Jerome Anderson?

SEM/Kentaro?

Suhail Pasha?

Shebby Singh?

"We will absolutely respect the Jack Walker legacy"

"We will support the existing board and its members"

"We will support the current management team"

They won't even tell us why they own us!

I seem to remember Madam Desai was investigated for some shenanigans but that story appears to have been purged from the net.

It's depressing looking back at topics from 2011 trying to get rid of the owners. A few fans thought we should take relegation as the nuclear option to get rid of them (I was probably among them) but the bastards have hung on like cockroaches. For what purpose? God only knows. It's almost been a decade of this shit. Can you believe it?

 

[davulsukur]

Just now, Amo said:

I seem to remember Madam Desai was investigated for some shenanigans but that story appears to have been purged from the net.

It's depressing looking back at topics from 2011 trying to get rid of the owners. A few fans thought we should take relegation as the nuclear option to get rid of them (I was probably among them) but the bastards have hung on like cockroaches. For what purpose? God only knows. It's almost been a decade of this shit. Can you believe it?

 

Illegal dumping of business waste I think wasn't it?

And no, I genuinely cannot believe we've had them in charge for 10 years. 

I figured they would be gone after relegation.

Edited November 4, 2019 by davulsukur

[Mashed Potatoes]

6 minutes ago, davulsukur said:

Jerome Anderson?

SEM/Kentaro?

Suhail Pasha?

Shebby Singh?

"We will absolutely respect the Jack Walker legacy"

"We will support the existing board and its members"

"We will support the current management team"

They won't even tell us why they own us!

And what is that supposed to mean ?

[davulsukur]

Just now, Mashed Potatoes said:

And what is that supposed to mean ?

Dodgy links and lies.

Edited November 4, 2019 by davulsukur

[JHRover]

1 hour ago, Mashed Potatoes said:

I think that is unduly harsh on the Walker Trust. Venkys are genuinely wealthy people - hence their ability to absorb these losses - and are also honest with no suggestion of "dodgy" connections as there have been at some other clubs. The problem is that nobody could have anticipated that successful business people would have made such terrible mistakes.

And you think handing over Jack Walker's club at a knock down price to Indian poultry tycoons with no interest in football or past experience of sports ventures nor any successful business in Europe who were being heavily led by a well known agent was the behaviour of people who cared about the club?

How do you explain the Ali Syed fiasco? It took Goldberg at the BBC a matter of days to discover he was a con man. Any due diligence by the Trust would have found the same skeletons. Truth is they hoped it could all go through quickly and smoothly before trouble began. Remember Sky Sports cameras outside the BBE when they were getting out of the minibus and going inside to 'view the books'. Wonder who arranged for the cameras to be there rolling at the right time. I guess the same bloke as has been well in with Sky and Talksport from the word go.

[perthblue02]

25 minutes ago, Amo said:

I seem to remember Madam Desai was investigated for some shenanigans but that story appears to have been purged from the net.

 

 

Do you mean this ?

https://punemirror.indiatimes.com/pune/cover-story/lavasa-hit-with-criminal-case/articleshow/31982911.cms

[Crimpshrine]

35 minutes ago, Sparks Rover said:

They can call it in all they want and Venkys will need to pay it as they are the owners

Or VLL files for bankruptcy. 

[Mashed Potatoes]

Just now, JHRover said:

And you think handing over Jack Walker's club at a knock down price to Indian poultry tycoons with no interest in football or past experience of sports ventures nor any successful business in Europe who were being heavily led by a well known agent was the behaviour of people who cared about the club?

How do you explain the Ali Syed fiasco? It took Goldberg at the BBC a matter of days to discover he was a con man. Any due diligence by the Trust would have found the same skeletons. Truth is they hoped it could all go through quickly and smoothly before trouble began. Remember Sky Sports cameras outside the BBE when they were getting out of the minibus and going inside to 'view the books'. Wonder who arranged for the cameras to be there rolling at the right time. I guess the same bloke as has been well in with Sky and Talksport from the word go.

As they did not sell the club to Ali Syed I don't see your point

Was it a knock down price ? What bigger offers were there ? I think you fail to understand that the financial crisis from 2008 onwards put a severe strain on businesses and continually underwriting a football club could no longer be justified when they had to look after business interests like an airline. I am afraid that really that was the fault of Jack Walker who in putting the club in the same stable as proper businesses forgot the old line "Never mix business with pleasure"

[Mashed Potatoes]

10 minutes ago, davulsukur said:

Dodgy links and lies.

I was referring to criminal behaviour - as far as I know employing a twerp from Malaysian TV is not yet a crime

[Amo]

Just now, Mashed Potatoes said:

I was referring to criminal behaviour - as far as I know employing a twerp from Malaysian TV is not yet a crime

Well you've already been proven wrong by

Just now, perthblue02 said:

Do you mean this ?

https://punemirror.indiatimes.com/pune/cover-story/lavasa-hit-with-criminal-case/articleshow/31982911.cms

 

[davulsukur]

Just now, Mashed Potatoes said:

I was referring to criminal behaviour - as far as I know employing a twerp from Malaysian TV is not yet a crime

Isn't it illegal for an agent to run a football club? (Certainly against the league rules) 

Probably one of the strongest rumours under their ownership.

[Mashed Potatoes]

Just now, Amo said:

Well you've already been proven wrong by

 

What was the outcome of the case ? It doesn't look to reflect on Mrs Desai who I assume was there in a non Executive capacity

[perthblue02]

23 minutes ago, Mashed Potatoes said:

What was the outcome of the case ? It doesn't look to reflect on Mrs Desai who I assume was there in a non Executive capacity

Was not a judgement on criminal activity, just presumed this is what Amo was thinking of.. My own opinion is that Mrs D and her hubby as well as Tache play with a straight bat .

Can't find an outcome as such but work was delayed on the project and eventually allowed to continue with some restrictions in place

Venky's through one of their companies had a 12.5% (Edit12.79% LINK ) share in the project , do not think they still have it.* Probably a good thing they don't ,sounds like its been a disaster Link. Not much news after 2010 about Man City building an academy there, Our state of the art all singing and dancing Pune academy must have put them off

*EDIT -According to this they still have a 7.81% share LINK

Edited November 4, 2019 by perthblue02

[SIMON GARNERS 194]

40 minutes ago, Mashed Potatoes said:

I was referring to criminal behaviour - as far as I know employing a twerp from Malaysian TV is not yet a crime

No,but It was an affront and humiliation to the fans of Blackburn Rovers and its good name.

 

Edited November 4, 2019 by SIMON GARNERS 194

[Miller11]

2 hours ago, Mashed Potatoes said:

Yes 

Is your surname Rao?

 

https://www.google.co.uk/amp/s/www.dailymail.co.uk/sport/football/article-2272514/amp/Nick-Harris-Why-wont-FA-tell-whats-going-Blackburn.html

[Mashed Potatoes]

Just now, Miller11 said:

Is your surname Rao?

 

https://www.google.co.uk/amp/s/www.dailymail.co.uk/sport/football/article-2272514/amp/Nick-Harris-Why-wont-FA-tell-whats-going-Blackburn.html

No - is yours ?

[SIMON GARNERS 194]

You do seem rather distant concerning Rovers matters.

Been noticed by a few.....

Edited November 4, 2019 by SIMON GARNERS 194

[tomphil]

1 hour ago, Mashed Potatoes said:

As they did not sell the club to Ali Syed I don't see your point

Was it a knock down price ? What bigger offers were there ? I think you fail to understand that the financial crisis from 2008 onwards put a severe strain on businesses and continually underwriting a football club could no longer be justified when they had to look after business interests like an airline. I am afraid that really that was the fault of Jack Walker who in putting the club in the same stable as proper businesses forgot the old line "Never mix business with pleasure"

They weren't underwriting it though Barclays and the sale of players was.  Their contribution finished a while earlier apart from a loan of 3 million which was due to be paid back.