Venky’s v Indian Government (a) - 25/3/2025 - Perennially Re-Arranged Challenge Match

[Roverthechimp]

7 hours ago, MarkBRFC said:

 

Who is there to sell in Jan to keep us ticking over a little bit more?

Travis and/or Tronstedt are but neither would bring big money.
Maybe Pears if a PL club need a British player to fill their quota and don’t read this forum 🤣

 

[Rogerb]

Still managing to lose £20 million a year despite all the cut backs and cost cutting and a manager paying to  leave.🤔

[Roverthechimp]

7 hours ago, RevidgeBlue said:

What a surprise. Another transfer window will go by the wayside.

As mentioned by other posters Waggott needs specifically challenging on his previous assertion that there is "no impediment" to the owners funding the Club as normal.

To boil it down to it's simplest terms, this can't be correct as if it were, why would the owners be bothering to go to Court at all ?

The accounts also state in black and white that liquidity has only been maintained to date thanks to cost cutting and player sales which again contradicts his previous proclamations on the subject.

Don't suppose anyone will actually be able to extract a confession out of him that the owners don't want to fund the Club whilst they have to furnish personal guarantees but we should certainly  try our utmost and it should be satisfying seeing him squirm in the meantime.

Didn’t costs rise for the accounting period?

I agree with what you are saying but Rovers always seem unable to actually reduce costs (on paper) when it is bloody obvious that they reuse teabags and use both sides of bog roll..

[wilsdenrover]

13 minutes ago, Rogerb said:

Still managing to lose £20 million a year despite all the cut backs and cost cutting and a manager paying to  leave.🤔

Venkys London Limited have the club making a profit before tax of £1.8 million for their most recent  financial period. 

[Rogerb]

15 minutes ago, wilsdenrover said:

Venkys London Limited have the club making a profit before tax of £1.8 million for their most recent  financial period. 

True but if you remove the player trading it's a £20 million loss turnover to costs

[Bronzed A Donis]

What else can we sell for 20 million... 😕

These accounts highlight the absolute short sighted stupidity of Waggot and his Venky overlords.

Squeezing the fanbase to reach an arbitrary figure which is barely a drop in the ocean in terms of losses, when getting more through the door and the increased feelgood factor, visibility for sponsorship and hospitality as well as match day sales and merchandise, as well as goodwill would surely far outweigh that and might be a much more financially prudent decision over space of 12-18 months than constantly giving your shrinking customer base a shakedown. Then again he's not a businessman, he's an ex dodgy agent turned League 2 community outreach man, who's won the lottery here. 

[rigger]

1 hour ago, Rogerb said:

The time he announces his retirement will be a big red flag.

And a big, blue and white one.

[Upside Down]

17 minutes ago, Bronzed A Donis said:

What else can we sell for 20 million... 😕

These accounts highlight the absolute short sighted stupidity of Waggot and his Venky overlords.

Squeezing the fanbase to reach an arbitrary figure which is barely a drop in the ocean in terms of losses, when getting more through the door and the increased feelgood factor, visibility for sponsorship and hospitality as well as match day sales and merchandise, as well as goodwill would surely far outweigh that and might be a much more financially prudent decision over space of 12-18 months than constantly giving your shrinking customer base a shakedown. Then again he's not a businessman, he's an ex dodgy agent turned League 2 community outreach man, who's won the lottery here. 

But you're thinking about this from the perspective of someone who isn't completely fucking brain dead.

[47er]

4 hours ago, islander200 said:

Because the reading owner was missing wage payments etc and bills weren't being paid.

I agree the situation is a disgrace but the football authorities ain't going to get involved until such a time we cant pay wages or we ain't able to pay our bills

 

Matter of time then?

[alcd]

1 hour ago, Rogerb said:

The time he announces his retirement will be a big red flag.

And a cause for celebration. 

[Penwortham Blue]

42 minutes ago, Bronzed A Donis said:

What else can we sell for 20 million... 😕

These accounts highlight the absolute short sighted stupidity of Waggot and his Venky overlords.

Squeezing the fanbase to reach an arbitrary figure which is barely a drop in the ocean in terms of losses, when getting more through the door and the increased feelgood factor, visibility for sponsorship and hospitality as well as match day sales and merchandise, as well as goodwill would surely far outweigh that and might be a much more financially prudent decision over space of 12-18 months than constantly giving your shrinking customer base a shakedown. Then again he's not a businessman, he's an ex dodgy agent turned League 2 community outreach man, who's won the lottery here. 

Bang on the money !

[Waggy76]

3 hours ago, Herbie6590 said:

We pay our bills on time (thanks to Raya, Wharton & Szmodics).

I would prefer administration! 

End of Venkys! 

[wilsdenrover]

No indication yet of whether any progress was made yesterday but the next court date is 13th January:

Edited November 14, 2024 by wilsdenrover

[MarkBRFC]

If there's another date in Jan I presume yesterday was postponed again?

[wilsdenrover]

31 minutes ago, MarkBRFC said:

If there's another date in Jan I presume yesterday was postponed again?

That’s my presumption too but waiting for the order to be published to know for sure.

[roverblue]

I think it's been made clear from the financial statement that this court case is not a priority for the club given the amount of funds generated from player sales.

They aren't interested in squad building just paying the bills and using frees/loans to keep us going, the 'Brentford model' or 'project' was clearly a load of bollocks. Otherwise they would be getting the owners to chuck us £20m as well as spending the sale money on players.

It's probably enough to keep us going for another 12-18 months so fully expect the court case to be kicked along until at least Jan 2026. At that point hands will be forced as there is nobody in this squad worth more than £1-2m.

If they were disappointed with season ticket sales this summer just wait till the next one, loyalty only goes so far Waggot. He will probably be retired by then hence why he doesn't give two shits.

[roverblue]

Hard to believe this was only 6 months ago, the board of directors clearly decided the investment is £0 and it wasn't worth having Gregg around anymore.

Speaking to BBC Radio Lancashire, Broughton revealed his recommendation for how the club utilise the funds over the course of the next 12 months:

“Transfer business over the last 12 months will bring income streams into the club. We had two or three players going out of the club on fees last summer, and since then we’ve had Adam Wharton leave in the club’s record sale and the David Raya deal will land next summer as well.”

“The board of directors have got to decide how they are going to invest that money and at what level they can do that.

“My recommendation to the board is that we look at investment in four areas – firstly transfer fees, secondly the wage bill, thirdly reinvestment into our academy and infrastructure and finally not to blow it all in one go, have some in case we need to go back again in January and next summer.”

[tomphil]

They don't want to hear that though to them every penny coming in goes to the bills and Waggot and the other guy get brownie points from the owners for asking for less.

Only re-investment comes when the owners sign off the same annual budget and there is a bit of headroom within that budget for a few spare quid.

Never do funds come in strictly to buy players and drive the team/club forwards and never has for a long time by the looks of it. As mentioned above any semblance of any model other than survival would see a few extra quid put in whilst we have income to cover bills and are good with FFP.

That would allow direct player investment with a top 6 aim but it's never happening. It shows what complete clowns run the show when they are disappointed a 30 quid discount doesn't increase sales by thousands. Despite nearly getting relegated, selling every good player and being in the midst of ownership court proceedings dragging the whole club through more uncertainty.

The penny never drops does it down there.

[USABlue]

On 12/11/2024 at 10:25, tomphil said:

Its been robust enough to withstand the last near decade and a half on nonsense and nothingness and still have a hardcore of 12k, which would be more if the idiot in charge had gone down a competitive pricing strategy years ago that is more in keeping with the area economics.

You know people are commending us from time to time on our away support.  Bolstered no doubt by those who refuse to give their money to the Venkiscum but still want to watch their beloved footy team.  Makes one wonder how our gates might look once they buggar off and are replaced by proper football people, not like that is happening in my lifetime.

[USABlue]

On 12/11/2024 at 11:08, SIMON GARNERS 194 said:

Now listen here you lot...PIPE DOWN,VENKY'S ARE DOING ALL THEY CAN!

Would you buy a used car from that man?  I would not.

[USABlue]

On 13/11/2024 at 01:17, JHRover said:

So Waggott lied, again?

He only lies when his lips are moving.

[Upside Down]

45 minutes ago, roverblue said:

Hard to believe this was only 6 months ago, the board of directors clearly decided the investment is £0 and it wasn't worth having Gregg around anymore.

Speaking to BBC Radio Lancashire, Broughton revealed his recommendation for how the club utilise the funds over the course of the next 12 months:

“Transfer business over the last 12 months will bring income streams into the club. We had two or three players going out of the club on fees last summer, and since then we’ve had Adam Wharton leave in the club’s record sale and the David Raya deal will land next summer as well.”

“The board of directors have got to decide how they are going to invest that money and at what level they can do that.

“My recommendation to the board is that we look at investment in four areas – firstly transfer fees, secondly the wage bill, thirdly reinvestment into our academy and infrastructure and finally not to blow it all in one go, have some in case we need to go back again in January and next summer.”

Not hard to see why he didn't last long here.

[JHRover]

It is a con of an operation, orchestrated by the owners and their underlings.

The aim of the operation is to achieve the owners' objectives whilst keeping the paying public in the dark as to what is actually going on.

They do this via the constant, never ending reset and restart process.

After they destroyed the club the first time around - removing Sam Allardyce and the board, employing Kean as manager, relegating us to the Championship, the first 'reset' was in bringing in people like Shebby Singh, Shaw, Agnew - the outcome of this was to convince people that changes were being made and things were getting better.

This led to more fiasco with the 2012-13 season of 4 managers, and very nearly took us into League One.

Then came the Bowyer period and simply by being steady away and more settled this convinced people that changes had been made and lessons learned.

Then after a couple of years of this they had the Lambert project. On paper an exciting ambitious appointment and all the talk from manager down was about promotion and getting better.

Incompatible with this ownership, clear that false promises had been made before giving him the job, and it last all of 6 months before he got out at the first opportunity.

Another reset this time appointing an utter joke of a manager in Coyle and all his staff, successfully taking us to League One, inexplicably waiting until February to make a change, far too late for even a remotely competent Mowbray to keep us up.

Now into League One and Mowbray given a long term deal, another reset. Keep the paying public on side thinking that this time it will be different, fresh start, new process.

Just like with Bowyer it works for first few years, reasonable investment, keeping main players, upward momentum, but no real push or pressure to achieve anything beyond mid-table Championship and plod.

Mowbray goes stale yet is left in place to drift for a couple of years. Almost by accident we find ourselves in the middle of a promotion push in his last season yet no effort made to get us over the line and him treated disgracefully at the end of his contract with radio silence.

Another reset. This time we're going continental. Lets get a D of F and foreign coach instead of the old boys club of previous years. Sounds good. Makes sense. For once suggestive of a club with a plan, a vision, a long term strategy.

It bears fruit immediately. Despite the chaos of Mowbray's departure and then bringing JDT in shortly before pre-season started it works to perfection, with us in the top 6 all season long and clear signs as the season progresses of improvement and a philosophy. No backing provided in January, merely a loan of Sorba Thomas from Huddersfield allowed, clearly no intention of us going one better than the previous year.

We miss out by the skin of our teeth. Any normal, remotely ambitious club, would have seen an opportunity there and backed JDT to go one better the following year. Of course not here, instead active sabotage as even his original meagre budget is then slashed further mid-summer, conditions that any professional club would struggle to operate with.

They eventually succeed in wrecking the JDT project as he knows it is impossible to get anywhere working for these people, and learns the problem isn't Broughton but is the ownership and Waggott (listen to his change in direction of his blame in interviews from his first season to his second).

They then manage to get Broughton out of the door too after managing to get him to shoulder all the blame for the nonsense of the last 3  transfer windows and for signing a few duds with his non-existent transfer budget

Another reset after nearly taking us to League One again. This time back to basics with a British management team and this time Gestede getting his feet under the table. Another project. Another road to nowhere.

Anyone else bored by it now? It's just an endless cycle of one step forward two steps back whilst the debt mountain grows. They've no intention, or plan, to get this club anywhere and even when promotion opportunities have dropped into our lap by accident they've done nothing to grasp it, even when relegation has been firmly in the picture they've done nothing to avert it.

[tomphil]

Still winging it season by season instead of ever drawing up 3 year plans, investing a bit then sticking to it.

Or maybe they do maybe we are missing that and the only intention is to chuck a bit in, let the team grow for a few years then sell it to pay down borrowings that have been running it ?

Maybe we are missing that bit because the Mowbray era bucked the selling trend for a few years but in theory he did grown a team but he and his mates somehow contrived to let half of it go on free transfers !

Then followed a budget cut !    Coincidence ?

[garner1971]

1 hour ago, JHRover said:

It is a con of an operation, orchestrated by the owners and their underlings.

The aim of the operation is to achieve the owners' objectives whilst keeping the paying public in the dark as to what is actually going on.

They do this via the constant, never ending reset and restart process.

After they destroyed the club the first time around - removing Sam Allardyce and the board, employing Kean as manager, relegating us to the Championship, the first 'reset' was in bringing in people like Shebby Singh, Shaw, Agnew - the outcome of this was to convince people that changes were being made and things were getting better.

This led to more fiasco with the 2012-13 season of 4 managers, and very nearly took us into League One.

Then came the Bowyer period and simply by being steady away and more settled this convinced people that changes had been made and lessons learned.

Then after a couple of years of this they had the Lambert project. On paper an exciting ambitious appointment and all the talk from manager down was about promotion and getting better.

Incompatible with this ownership, clear that false promises had been made before giving him the job, and it last all of 6 months before he got out at the first opportunity.

Another reset this time appointing an utter joke of a manager in Coyle and all his staff, successfully taking us to League One, inexplicably waiting until February to make a change, far too late for even a remotely competent Mowbray to keep us up.

Now into League One and Mowbray given a long term deal, another reset. Keep the paying public on side thinking that this time it will be different, fresh start, new process.

Just like with Bowyer it works for first few years, reasonable investment, keeping main players, upward momentum, but no real push or pressure to achieve anything beyond mid-table Championship and plod.

Mowbray goes stale yet is left in place to drift for a couple of years. Almost by accident we find ourselves in the middle of a promotion push in his last season yet no effort made to get us over the line and him treated disgracefully at the end of his contract with radio silence.

Another reset. This time we're going continental. Lets get a D of F and foreign coach instead of the old boys club of previous years. Sounds good. Makes sense. For once suggestive of a club with a plan, a vision, a long term strategy.

It bears fruit immediately. Despite the chaos of Mowbray's departure and then bringing JDT in shortly before pre-season started it works to perfection, with us in the top 6 all season long and clear signs as the season progresses of improvement and a philosophy. No backing provided in January, merely a loan of Sorba Thomas from Huddersfield allowed, clearly no intention of us going one better than the previous year.

We miss out by the skin of our teeth. Any normal, remotely ambitious club, would have seen an opportunity there and backed JDT to go one better the following year. Of course not here, instead active sabotage as even his original meagre budget is then slashed further mid-summer, conditions that any professional club would struggle to operate with.

They eventually succeed in wrecking the JDT project as he knows it is impossible to get anywhere working for these people, and learns the problem isn't Broughton but is the ownership and Waggott (listen to his change in direction of his blame in interviews from his first season to his second).

They then manage to get Broughton out of the door too after managing to get him to shoulder all the blame for the nonsense of the last 3  transfer windows and for signing a few duds with his non-existent transfer budget

Another reset after nearly taking us to League One again. This time back to basics with a British management team and this time Gestede getting his feet under the table. Another project. Another road to nowhere.

Anyone else bored by it now? It's just an endless cycle of one step forward two steps back whilst the debt mountain grows. They've no intention, or plan, to get this club anywhere and even when promotion opportunities have dropped into our lap by accident they've done nothing to grasp it, even when relegation has been firmly in the picture they've done nothing to avert it.

Fantastic summary. Excellent post 👏