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

[RoverDom]

7 minutes ago, lraC said:

It is highly unlikely that they will be able to make that statement again, in the next accounts, so in my view, they need to explain what the plans are, once we get there.

That statement was made for a reason after all.

Well yes if they had any decency about them or respect for the fan base they would come out and explain what the plans are and what the impact on the football club is.

However, that's not how this club works. If they have enough money to get by for now with the Wharton, SS and Raya money they will keep coasting along and deal with whatever the auditors going concern requirements in Feb/ March and hope that something changes in the meantime. Maybe the Novemer hearing will resolve everything. 

They're chancers who are just getting by till the next milestone. Can they get by till the November court date? probably so they won't say Jack shit about it till atleast then. 

[Wheelton Blue]

11 minutes ago, lraC said:

Look carefully at what Waggott himself has said about the way these funds are structured and assuming what he is saying is correct, we will not have enough to pay the day to day costs.

Exactly this.

The transfer monies received, £40 million or whatever it is, won't be received all in one go, but rather in installments over a timeline of say 3 years.

In this scenario, the yearly income from transfers is only £13m. If the outgoings are say £20m, then an additional £7m of income needs to be found - per year - just to keep the lights on. This is without buying any players. 

[Herbie6590]

Last year’s VLL accounts to March 2023 were signed off in July 2023…I would wager some major wordsmithing of the auditor’s certificate is taking place right now…

[lraC]

15 minutes ago, Boz said:

As has been mentioned above, in light of such uncertainties concerning the financial situation, insolvent position and reliance on the going concern to continue trading, surrounding The Blackburn Rovers Football and Athletic Club.

If I was one of the four directors, I would be seeking the professional advice of an Insolvency Practitioner as a matter of urgency to protect myself against future actions brought upon me personally. Especially so if I was concerned that I was being fed instructions as to how I should be performing my fiduciary directors duties and responsibilities, by say the Chief Operating Officer, who is not a director. Perhaps he is a 'shadow director'? Again I'd be seeking to clarify this situation.

I have a feeling that part of any advice received would be to hold onto any funds.

Spot on.

 

People thinking the £40m coming in from transfer and add ons is going to cover everything, may well be right, but that is the very short term picture.

in a lot of ways, if a wage comes into a household for £3k per month and the regular out goings are £4k you can only sell your assets for so long, before you default.

This is the position of our football club, as things stand. 

[lraC]

18 minutes ago, RoverDom said:

Well yes if they had any decency about them or respect for the fan base they would come out and explain what the plans are and what the impact on the football club is.

However, that's not how this club works. If they have enough money to get by for now with the Wharton, SS and Raya money they will keep coasting along and deal with whatever the auditors going concern requirements in Feb/ March and hope that something changes in the meantime. Maybe the Novemer hearing will resolve everything. 

They're chancers who are just getting by till the next milestone. Can they get by till the November court date? probably so they won't say Jack shit about it till atleast then. 

Hopefully someone is going to exert some pressure to ensure a statement is made, about what is a very serious situation. 

[toogs]

4 minutes ago, lraC said:

Hopefully someone is going to exert some pressure to ensure a statement is made, about what is a very serious situation. 

WATR's meeting seemed to infer that the club will be better a comms.

This will be a good demonstration of that.

I would hope to hear something by the end of the week, otherwise I'd say nothing has changed.

[islander200]

4 minutes ago, lraC said:

Hopefully someone is going to exert some pressure to ensure a statement is made, about what is a very serious situation. 

Waggott isn't going to change tact

If we get a statement, it will read the Same as the last one "That the court proceedings doesn't affect the day to the day running of the club"

And after spending the last year telling us that the owners are free to send money over if they match it with a bond ,he isn't going to change tact on that

We will be fed with billshit,  until the shit  hits the fan and we can no longer pay our bills.

 

 

[lraC]

28 minutes ago, Wheelton Blue said:

Exactly this.

The transfer monies received, £40 million or whatever it is, won't be received all in one go, but rather in installments over a timeline of say 3 years.

In this scenario, the yearly income from transfers is only £13m. If the outgoings are say £20m, then an additional £7m of income needs to be found - per year - just to keep the lights on. This is without buying any players. 

Put another way, we need to sell some more players for £21m and quickly, to make up the shortfall of £7m per annum. I don't think the entire squad is worth that. 

[lraC]

2 minutes ago, islander200 said:

Waggott isn't going to change tact

If we get a statement, it will read the Same as the last one "That the court proceedings doesn't affect the day to the day running of the club"

And after spending the last year telling us that the owners are free to send money over if they match it with a bond ,he isn't going to change tact on that

We will be fed with billshit,  until the shit  hits the fan and we can no longer pay our bills.

 

 

There are plenty of points raised on here alone, to blow that bullshit away, let alone the wider fan base

It is over to the people with his ear now to make sure he does not get away with it. 

[islander200]

1 minute ago, lraC said:

There are plenty of points raised on here alone, to blow that bullshit away, let alone the wider fan base

It is over to the people with his ear now to make sure he does not get away with it. 

With respect though those points have been raised since the last time the case was postponed,  hasn't stopped Waggott  from repeating his bullshit, and many of the casual fan/Facebook brigade buying it 

[islander200]

Some paper the telegraph is have they even mentioned yesterday yet 

[JHRover]

47 minutes ago, Wheelton Blue said:

Exactly this.

The transfer monies received, £40 million or whatever it is, won't be received all in one go, but rather in installments over a timeline of say 3 years.

In this scenario, the yearly income from transfers is only £13m. If the outgoings are say £20m, then an additional £7m of income needs to be found - per year - just to keep the lights on. This is without buying any players. 

If outgoings are still £20 million after the latest round of cost cuts there need to be serious questions as to why. It should be more like half of that, which is the sort of figure most competitive Championship clubs lose.

[JHRover]

4 minutes ago, islander200 said:

Some paper the telegraph is have they even mentioned yesterday yet 

Not a peep. Headlines on there today are part of Dolan's interview about 'stepping up', Peterborough chairman's response to us selling Szmodics, Paul Heckingbottom's thoughts on joining PNE, Markanday's thoughts on joining Chesterfield and Buckley's personal aims for the season.

A total joke and they are complicit in the Venky operation and cover-up.

I bet Waggott cannot believe his luck at having such a weak local media approach.

[Salgados Hair]

12 minutes ago, islander200 said:

Some paper the telegraph is have they even mentioned yesterday yet 

Jackson posted on the 19th that he is away with family for a few days. How convenient.

[lraC]

23 minutes ago, islander200 said:

With respect though those points have been raised since the last time the case was postponed,  hasn't stopped Waggott  from repeating his bullshit, and many of the casual fan/Facebook brigade buying it 

That’s their prerogative, but hopefully there are stronger groups around to get him taken to task properly.

[TheRevAshton]

18 minutes ago, Salgados Hair said:

Jackson posted on the 19th that he is away with family for a few days. How convenient.

Wouldn't surprise me if Swag advised him to do so!

[BankEnd Rover]

3 minutes ago, TheRevAshton said:

Wouldn't surprise me if Swag advised him to do so!

Exactly my thought.

[TheRevAshton]

17 minutes ago, BankEnd Rover said:

Exactly my thought.

Swag: Ell-boy!
Elliott: Hi Master Waggott, you good?
Swag: Oh aye lad oh aye *bites jaffa cake*... Look pet, it's gonna get messy around the 20th, ya better book yourself a little staycation alright, give center parcs a try!
Elliott: Ahh okay, well i've just been away you see Steve, and it costs a few quid...
Swag: Just get it booked son.
Elliott: Could the Club maybe help cover the cost?
Swag: *chewing noises*

Phone cuts off.

[BankEnd Rover]

2 minutes ago, TheRevAshton said:

Swag: Ell-boy!
Elliott: Hi Master Waggott, you good?
Swag: Oh aye lad oh aye *bites jaffa cake*... Look pet, it's gonna get messy around the 20th, ya better book yourself a little staycation alright, give center parcs a try!
Elliott: Ahh okay, well i've just been away you see Steve, and it costs a few quid...
Swag: Just get it booked son.
Elliott: Could the Club maybe help cover the cost?
Swag: *chewing noises*

Phone cuts off.

Hahaha!

[Wendal]

Rescheduled date confirmed on the Delhi High Court website

 

[bluebruce]

If Venkys need to put up a bond equal to what they send in order to send anything, and if they have any confidence in eventually winning their case, you would think they'd still have sent us half of what they usually do, bringing the full commitment to the usual amount and still helping the club whilst the matter gets settled. That they seemingly haven't tells me they either have little confidence they'll win, or are happy for the convenient excuse to not send us money.

You could argue that even if they're confident there's still a risk of their money vanishing into the ether, but there is every time they send money to a football club, by the very nature of the business. They've already sent 200 million they're unlikely to ever see again.

[lraC]

9 minutes ago, bluebruce said:

If Venkys need to put up a bond equal to what they send in order to send anything, and if they have any confidence in eventually winning their case, you would think they'd still have sent us half of what they usually do, bringing the full commitment to the usual amount and still helping the club whilst the matter gets settled. That they seemingly haven't tells me they either have little confidence they'll win, or are happy for the convenient excuse to not send us money.

You could argue that even if they're confident there's still a risk of their money vanishing into the ether, but there is every time they send money to a football club, by the very nature of the business. They've already sent 200 million they're unlikely to ever see again.

It’s no different to them letting a Rothwell, or Brereton, walk for nothing.

A few million turning into dust over night, so there is something deeper at play here, in my view. 

[Herbie6590]

4 minutes ago, lraC said:

It’s no different to them letting a Rothwell, or Brereton, walk for nothing.

A few million turning into dust over night, so there is something deeper at play here, in my view. 

I’d be interested to know whether providing “the bond” opens them up to some form of personal liability as opposed to corporate liability…that might explain a lot…

[1864roverite]

Consideration is that they have done a plea deal and the next date is for sentence ? Just another scenario 

[lraC]

29 minutes ago, 1864roverite said:

Consideration is that they have done a plea deal and the next date is for sentence ? Just another scenario 

It’s not a criminal matter.