Venky’s, HMRC…The Plot Thickens ?

[Gav]

2 hours ago, SIMON GARNERS 194 said:

Yes Gav,they may well have been lining up but of what quality/calibre?

Football these days appears full of Chancers and Bullshitters.

There was indeed only one Jack Walker. 

 

Wasn't it Ian Battersby and Ian Curry who put forward a joint ownership proposal to Venkys but didn't get an answer? A consortium with Rovers fans at the heart of the bid? 

Not sure if they would still have an interest, but it would be a great time to find out! 

[Herbie6590]

30 minutes ago, wilsdenrover said:

It wouldn’t change the sums involved but wouldn’t it be better to buy Venkys London Ltd?

 

 

Depends on the corporate structure of the purchaser I guess.

[Herbie6590]

3 minutes ago, Gav said:

Wasn't it Ian Battersby and Ian Curry who put forward a joint ownership proposal to Venkys but didn't get an answer? A consortium with Rovers fans at the heart of the bid? 

Not sure if they would still have an interest, but it would be a great time to find out! 

The Rovers equivalent of the Ineos Man Utd deal

[wilsdenrover]

1 minute ago, Herbie6590 said:

Depends on the corporate structure of the purchaser I guess.

I was thinking it would mean just one set of negotiations to end up with both the club and the training ground.

[Herbie6590]

Just now, wilsdenrover said:

I was thinking it would mean just one set of negotiations to end up with both the club and the training ground.

Be the same folks either way round the table...

[RevidgeBlue]

57 minutes ago, Herbie6590 said:

A potential buyer would pay perhaps a small premium over the net asset value for the club (£30-40m perhaps), fund the purchase of the existing or a new training ground (say £20m) plus prudently, say 2-3 years of working capital whilst things were put on a more even keel (£30-40m at least). 

Potential owners with access to £100m is probably the ball-park...

 

It's hard to believe that it would work with any lower level of funding.

[wilsdenrover]

18 minutes ago, Herbie6590 said:

Be the same folks either way round the table...

Very true but it halves the chances of them (Venkys)  trying to pull a fast one 🤔🤨

[Upside Down]

8 hours ago, Mercer said:

Who on earth would want to buy Rovers!?

Even if Venky's gave us away and wrote off their £200millionish losses, any new owners would need £30/40 million for working capital purposes plus, most likely, getting on for £20million to buy back Brockhall (though not sure what the caveats are around Brockhall following its sale). 

If someone out there wants to make a real go of it by appointing some quality management from top to bottom and have a 'war chest' for player acquisitions then I would suggest they need getting on for £100million to throw at it.

 

Been through through this a million times. 

It's a total nonsense argument. 

[Mercer]

1 hour ago, Upside Down said:

Been through through this a million times. 

It's a total nonsense argument. 

Would beg to differ.

Any business without proper funding is likely to fail. 40ish years as an accountant have only served to underline that.

Edited January 22 by Mercer

[Upside Down]

19 minutes ago, Mercer said:

Would beg to differ.

Any business without proper funding is likely to fail. 40ish years as an accountant have only served to underline that.

Pathetic really.

How does every other club in this division survive without venkys?

Take the chicken blinkers off.

[Mercer]

7 minutes ago, Upside Down said:

Pathetic really.

How does every other club in this division survive without venkys?

Take the chicken blinkers off.

Pathetic!?!?

Feck me - I hate Venky's which should be as plain as day to any regular member of this MB.

All I was trying to point out was getting a new owner, should Venky's decide to walk away and write-off their losses (giving the club away and not an insolvency), might not be as easy as some think as £100millionish would be required to have a real go at it.

Sorry if the financials and implications are over your head.

Edited January 22 by Mercer

[Upside Down]

11 minutes ago, Mercer said:

Pathetic!?!?

Feck me - I hate Venky's which should be as plain as day to any regular member of this MB.

All I was trying to point out was getting a new owner, should Venky's decide to walk away and write-off their losses (giving the club away and not an insolvency), might not be as easy as some think as £100millionish would be required to have a real go at it.

Sorry if the financials and implications are over your head.

Anyone who doesn't have that kind of money wouldn't be able to buy any club at this level.

Fortunately your track record of predictions is as bad as venkys running of this club.

[tomphil]

5 minutes ago, Upside Down said:

Anyone who doesn't have that kind of money wouldn't be able to buy any club at this level.

Fortunately your track record of predictions is as bad as venkys running of this club.

The way the Hemmings group is doing it at North End shows how a lot of UK based people or groups make a modicum of sense out of it.

As long as they can comfortably write off a certain chunk per year obviously.

 

[RevidgeBlue]

7 minutes ago, tomphil said:

The way the Hemmings group is doing it at North End shows how a lot of UK based people or groups make a modicum of sense out of it.

As long as they can comfortably write off a certain chunk per year obviously.

 

Never really understood that argument.

Losses are still losses even if they can be used to reduce your tax bill elsewhere. You'd be better off without them.

[tomphil]

The point of it is those who do it can afford it so writing off a bit of tax as well just helps along the way and you can bet there'll be a myriad of perks and loopholes.

Owning clubs became fashionable a while ago way beyond only appealing to a fan with a few quid and even the chancers find it harder now as well due to have to prove money sin't borrowed.

if there wasn't some attraction and benefit to it then nobody would touch it with a barge pole.

I'm sure the Walker family and group of businesses could have operated similar to the Hemmings group once they'd inherited the club.  

Edited January 22 by tomphil

[JHRover]

52 minutes ago, Mercer said:

Pathetic!?!?

Feck me - I hate Venky's which should be as plain as day to any regular member of this MB.

All I was trying to point out was getting a new owner, should Venky's decide to walk away and write-off their losses (giving the club away and not an insolvency), might not be as easy as some think as £100millionish would be required to have a real go at it.

Sorry if the financials and implications are over your head.

Maybe potential different owners would look at the £30 million+ we've p1ssed up the wall through negligence the last 2-3 years (Diaz, Armstrong, Lenihan, Rothwell etc) and look at the £20 million+ we are likely to bank with Adam Wharton soon (unless we balls that one up as well) and consider straight away that's half the money recouped just through better decision making.

One good season and set of decisions away from PL football - if dingles, Luton, Brentford can do it then so can Blackburn Rovers. Speculate to accumulate and if you run out of money move on and let someone else have a go.

[ABBEY]

8 hours ago, RoverDom said:

Has anyone else ever dreamt of winning £200m on the euro millions, buying Rovers and personally escorting Waggot to the door with his belongings and P45?  

10000% nooooo

Can't afford another divorce especially involving 200m 

[broadsword]

2 hours ago, Mercer said:

Would beg to differ.

Any business without proper funding is likely to fail. 40ish years as an accountant have only served to underline that.

Just out of interest, clue me in on your figures here, which I'm not disputing. I'm just interested in your thinking.

Working capital I think is like saying cash on hand, money to meet the needs of the business. So I'm assuming that would be money to meet the operating costs of the club, plus I'm thinking you've probably factored some decent signings in there as well? What's the annual operating costs?

Buying back brockhall, fair enough, I would be hoping to lease initially, but who knows?

 

Not sure why you've added on thirty odd million on top, could you expand on that? Ta.

 

The devil is in the detail

 We're not a realistic proposition as a going concern, I realise that. Which is why I thought admin would be the only way out of this hell. You can write things off with admin.

 

The problem isn't just the enormous degradation of quality on the pitch, the infrastructure of the club has been neglected. It's difficult to imagine a long queue of buyers. And harder still to fathom why some fans still back venkys.

 

It's really depressing

[47er]

2 hours ago, Mercer said:

Pathetic!?!?

Feck me - I hate Venky's which should be as plain as day to any regular member of this MB.

All I was trying to point out was getting a new owner, should Venky's decide to walk away and write-off their losses (giving the club away and not an insolvency), might not be as easy as some think as £100millionish would be required to have a real go at it.

Sorry if the financials and implications are over your head.

Why would Americans buy Burnley or Wrexham?

[J*B]

52 minutes ago, 47er said:

Why would Americans buy Burnley or Wrexham?

Or Ipswich. 

[DuffsLeftPeg]

6ft Venky’s & Waggott Out banner has arrived & ready for the Wrexham Game

Sitting in W03 in JW Lower, back row, in full view of the TV Cameras if anyone would like to join…will need help holding the banner up at very least!!!

[tomphil]

1 hour ago, 47er said:

Why would Americans buy Burnley or Wrexham?

 Not always necessary to have huge crowds yet that's another thing that gets chucked in as a reason no one would touch Rovers.

Burnley no big crowd potential there and even if so big investment would be needed to accommodate them, Ipswich a bit of increased potential but again bigger stands needed.

So it's not always about looking at attendances when wanting a club obviously.

[47er]

56 minutes ago, tomphil said:

 Not always necessary to have huge crowds yet that's another thing that gets chucked in as a reason no one would touch Rovers.

Burnley no big crowd potential there and even if so big investment would be needed to accommodate them, Ipswich a bit of increased potential but again bigger stands needed.

So it's not always about looking at attendances when wanting a club obviously.

In any case, with Venkys gone, a proper infra-structure, sensible pricing ,and a competitive team, our attendances would rise significantly.

[Upside Down]

This 'who would buy the club' shit really needs to be put to bed.

Football club up and down the land are being bought and sold all the time. Not many of them have the historical standing in the game that we have, let alone the Cat A Academy.

It's a total nonsense argument. We will find out who will buy the club when it goes on sale.

38 minutes ago, DuffsLeftPeg said:

6ft Venky’s & Waggott Out banner has arrived & ready for the Wrexham Game

Sitting in W03 in JW Lower, back row, in full view of the TV Cameras if anyone would like to join…will need help holding the banner up at very least!!!

I would help you if I sat in the JW but I was born a Blackburn Ender and I'll die a Blackburn Ender.

 

[jim mk2]

3 hours ago, 47er said:

Why would Americans buy Burnley or Wrexham?

 

Why indeed. Americans love history and we are a historic club that goes back to the very birth of English football and the professional game. I'm not saying there'd be a queue to buy Rovers if / when Venky's depart but we have a good story to tell and would be an attractive target for someone.