Venky’s v Indian Government (a) - 13/11/2024 - Re-Arranged Challenge Match

[Crimpshrine]

12 minutes ago, JHRover said:

I suspect that with another £15 million landing from Raya and Szmodics this will negate the need for Venkys to send money from India.

Convenient, and will enable them to kick the can down the road on the court proceedings hoping that by the time this money runs out there is someone else to sell. 

Exactly - Even if the Courts don't give permission to send funds without associated bonds, they don't need to worry. The club can 'wash it's own face'.

In the future, when cash runs short, if there is nobody else to sell they will just resume drip feeding us into oblivion.

[Waggy76]

Anything but Venkys still here !

[lraC]

21 minutes ago, JHRover said:

I suspect that with another £15 million landing from Raya and Szmodics this will negate the need for Venkys to send money from India.

Convenient, and will enable them to kick the can down the road on the court proceedings hoping that by the time this money runs out there is someone else to sell. 

It's being paid at £15 per week, over a million weeks, so we still have no transfer money, you know. 

[tomphil]

17 hours ago, Crimpshrine said:

Exactly - Even if the Courts don't give permission to send funds without associated bonds, they don't need to worry. The club can 'wash it's own face'.

In the future, when cash runs short, if there is nobody else to sell they will just resume drip feeding us into oblivion.

Which is why it's vital now they look for an outside investment channel or find us a suitable buyer because their time is over.

When the Walker Trust due to their own issues decided they couldn't fund Rovers anymore despite the money already spent and any remaining emotional and business ties they began to seek a buyer.

Many similarities to now so there's only two options, hold on and run us into the ground or sell, i'm not even sure they are happy not being able to write off 10/20 million a year.  It seems all the club served them for was as a money pit for whatever reason so it's of no use to them now other than still feeding some egos.

If we are to be self funding and gradually shrink to lower levels then we don't need them sat there in the background they might as well give the club away to a supporters trust/local business consortium and remain as shirt sponsors or something.

[lraC]

2 minutes ago, tomphil said:

Which is why it's vital now they look for an outside investment channel or find us a suitable buyer because their time is over.

When the Walker Trust due to their own issues decided they couldn't fund Rovers anymore despite the money already spent and any remaining emotional and business ties they began to seek a buyer.

Many similarities to now so there's only two options, hold on and run us into the ground or sell, i'm not even sure they are happy not being able to write off 10/20 million a year.  It seems all the club served them for was as a money pit for whatever reason so it's of no use to them now other than still feeding some egos.

If we are to be self funding and gradually shrink to lower levels then we don't need them sat there in the background they might as well give the club away to a supporters trust/local business consortium and remain as shirt sponsors or something.

I wouldn’t be happy if they were sponsoring the bog roll.

Lets see them gone, lock, stick and barrel. 

[tomphil]

2 minutes ago, lraC said:

I wouldn’t be happy if they were sponsoring the bog roll.

Lets see them gone, lock, stick and barrel. 

If they gave the club away or sold it to solid new owners and had no involvement other than sending a few mill a year to sponsor something they can do that forever as far as i'm concerned.

Just get away from running the club and take your shadows with you.

[RevidgeBlue]

19 hours ago, JHRover said:

I suspect that with another £15 million landing from Raya and Szmodics this will negate the need for Venkys to send money from India.

Convenient, and will enable them to kick the can down the road on the court proceedings hoping that by the time this money runs out there is someone else to sell. 

Agreed, I found the timing of the Szmodics sale very odd as regards the Court hearing.

However much we receive immediately ( because we only get paid in installments you know) the Court will surely say "There's £Xm you don't need now" even if they rule in the Club's favour.

[MarkBRFC]

24 minutes ago, RevidgeBlue said:

Agreed, I found the timing of the Szmodics sale very odd as regards the Court hearing.

However much we receive immediately ( because we only get paid in installments you know) the Court will surely say "There's £Xm you don't need now" even if they rule in the Club's favour.

If they rule in the clubs favour, they wouldn't be in a position to tell them they don't need that money?!

[RevidgeBlue]

21 minutes ago, MarkBRFC said:

If they rule in the clubs favour, they wouldn't be in a position to tell them they don't need that money?!

That presupposes a final determination of the case in its entirety which may not occur on Tuesday.

What I meant was, if the status Quo is maintained and the decision is they can continue to send funds over if an equivalent supporting bond is paid as opposed to not being allowed to send money over at all. 

Edited August 17 by RevidgeBlue

[AndyB]

2 hours ago, tomphil said:

Which is why it's vital now they look for an outside investment channel or find us a suitable buyer because their time is over.

 

I'm sure they can ask their mate Jerome to find a suitable buyer

[simongarnerisgod]

3 hours ago, tomphil said:

If they gave the club away or sold it to solid new owners and had no involvement other than sending a few mill a year to sponsor something they can do that forever as far as i'm concerned.

Just get away from running the club and take your shadows with you.

and take that greasy spiv waggot with you as well

[tomphil]

35 minutes ago, AndyB said:

I'm sure they can ask their mate Jerome to find a suitable buyer

Some say he's still the man who advises their adviser in the shadows.

[tomphil]

No money is needed for running costs due to all the sales and instalments pending but what is to stop them saying here's 2 million for players. Put up the bond and pay the 20%, all that isn't breaking them is it but they've never really put money in for signings in recent times and that isn't how the tax dodging business funds Rovers.

Signings have tended to come after the annual budget was increased a bit under TM post promotion etc, or room is created getting rid of wages/cost cutting.

Or when a bit from previous sales becomes available, if they'd chucked in a few mill when Mowbray had us second or JDT then it's a fair assumption to say we might have had a promotion by now. That is speculating to accumulate, it's managing upwards but did Waggot or the shadow MD ever ask ?

Did they bollocks water treading is their game but it's highly unlikely Vs would have stumped up anything anyway as it didn't fit the VH group funding model.

[lraC]

12 minutes ago, tomphil said:

Some say he's still the man who advises their adviser in the shadows.

I would not be in the slightest bit surprised. Some of the players contracts that were run down, have always had me wondering, who was on the make. 

[JHRover]

19 minutes ago, tomphil said:

No money is needed for running costs due to all the sales and instalments pending but what is to stop them saying here's 2 million for players. Put up the bond and pay the 20%, all that isn't breaking them is it but they've never really put money in for signings in recent times and that isn't how the tax dodging business funds Rovers.

Signings have tended to come after the annual budget was increased a bit under TM post promotion etc, or room is created getting rid of wages/cost cutting.

Or when a bit from previous sales becomes available, if they'd chucked in a few mill when Mowbray had us second or JDT then it's a fair assumption to say we might have had a promotion by now. That is speculating to accumulate, it's managing upwards but did Waggot or the shadow MD ever ask ?

Did they bollocks water treading is their game but it's highly unlikely Vs would have stumped up anything anyway as it didn't fit the VH group funding model.

For one reason or another it has always been fine for them to heap relatively hefty wages onto the books, hence the massive annual losses, but they have rarely shown any interest in putting up real cash to enable significant signings.

There are odd ones out - Rhodes, Brereton, Gallagher - but that's 3,4, 5 out of 100+ signings. Interestingly those quickly followed relegation/promotion and were very much out of character with other activity.

I'd suggest interest pricked after relegation/promotion and someone wanted to be seen to be acting and probably put in personal cash on those occasions expecting to recoup it later.

[tomphil]

23 minutes ago, lraC said:

I would not be in the slightest bit surprised. Some of the players contracts that were run down, have always had me wondering, who was on the make. 

We've been told Rovers had started including loyalty bonuses for some reason so all those guys would likely be owed a pay off.  Then a signing on fee at their new clubs plus big wage increases in most cases.

Someone had to advise and negotiate all that and it reeks of similarities to stuff going on at the height of the Anderson/Kean & co reign of hell.

Iv'e read way in the past that the man in the shadows had agency connections and imo he's always been some sort of middleman. That's why iv'e continuously called him out and for a real explanation of his role, who he really works for and who pays him.

He's a moonlighting director if you ask  me.

Edited August 17 by tomphil

[Upside Down]

30 minutes ago, tomphil said:

No money is needed for running costs due to all the sales and instalments pending but what is to stop them saying here's 2 million for players. Put up the bond and pay the 20%, all that isn't breaking them is it but they've never really put money in for signings in recent times and that isn't how the tax dodging business funds Rovers.

Signings have tended to come after the annual budget was increased a bit under TM post promotion etc, or room is created getting rid of wages/cost cutting.

Or when a bit from previous sales becomes available, if they'd chucked in a few mill when Mowbray had us second or JDT then it's a fair assumption to say we might have had a promotion by now. That is speculating to accumulate, it's managing upwards but did Waggot or the shadow MD ever ask ?

Did they bollocks water treading is their game but it's highly unlikely Vs would have stumped up anything anyway as it didn't fit the VH group funding model.

I haven't seen anything that confirms that they can send over money as long as they put up a bond.

The law states that they must attain a "No Objection Certificate" from the ED before sending over money. This has proved difficult to get the last two times they sent over money, hence the court cases.

[ABBEY]

7 hours ago, lraC said:

I wouldn’t be happy if they were sponsoring the bog roll.

Lets see them gone, lock, stick and barrel. 

me neither .. I'd wipe me arse on me boxers or socks first

[Devon Rover]

Great new title! 

Let's hope this one doesn't go to a replay.

[Exiled_Rover]

For the first (and last) time ever I'm cheering for India. 

[lraC]

Hopefully we see the return of Alan Judge for this one, Jason Lowe or rumpole of the John Bailey 

Denis Law would have been making a guest appearance if it was yesteryear and the outcome is hopefully them having to pay the Johnny Price. 

[waynerovers]

I've not been following the court case. Would Venkys losing be a good thing for us?

[Upside Down]

3 hours ago, waynerovers said:

I've not been following the court case. Would Venkys losing be a good thing for us?

Yes. Absolutely.

[Crimpshrine]

19 hours ago, Upside Down said:

I haven't seen anything that confirms that they can send over money as long as they put up a bond.

The law states that they must attain a "No Objection Certificate" from the ED before sending over money. This has proved difficult to get the last two times they sent over money, hence the court cases.

I agree with this.

They can't send any money without having permission granted by the court for every individual payment. This is because the ED won't give Venky's the certificate. The court may impose a bond in order to allow payments, they may not. The court may refuse permission to send any money at all. It depends on the ED's argument against Venky's each time and how the judge sees it.

In order for Venky's to argue that they should be allowed to send funds, Rovers need to supply details of what the money is to be spent on ( HMRC, Wages etc ).

That is the process for every request to send funds. 

 

[tomphil]

Not sure them losing it makes much difference at all in the short term as the club is clearly under instructions to fund itself. Nothing much would change over this season but next summer the budget cut and cost cutting, players sales could be the end of us as a Championship club for a long time.

I'd still suggest we are way way away from an admin situation that would depend largely on the tax bills being paid and there's still assets to cash for that.