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Posted
13 minutes ago, Sweaty Gussets said:

1) Rovers have taken a loan out with Crossbaron (whoever they are) for unknown reasons - possibly cashflow problems relating to the Indian govt issues.

2) In order to repay the loan Rovers now pay the rent on Brockhall to Crossbaron instead of Venky's.

 

Is that basically what's happening here?

I think so but I’m far from certain.

  • Like 1
Posted

1 Hillside and 2 Hillside are a couple of large houses that directly overlook the academy site. They used to house academy players and had resident staff there to look after them.

Last I heard they no longer had players staying there and might have been occupied by staff members.

Not sure what Ribbleview is but assume it is another house they own down there.

  • Like 2
Posted
8 minutes ago, wilsdenrover said:

This is everything the loan is secured against - anyone have any idea what the other three are?:

IMG_1339.thumb.jpeg.64e679a146c1aaeb708f82e9e9c8cdef.jpeg

 

It is three houses owned by the club. Presumably for staff.

  • Like 1
Posted

So presumably Venkatashwera London will now lend money to Venkys London Ltd to use for the club ?

Or is it Venka raising money for something else ?

Posted (edited)
18 minutes ago, tomphil said:

So presumably Venkatashwera London will now lend money to Venkys London Ltd to use for the club ?

Or is it Venka raising money for something else ?

Rearranging the deckchairs on the Titantic…

Edited by wilsdenrover
  • Like 2
Posted

Venkateswara London Limited (company number 13452736) have 2 current Directors, namely Prashan Laxman Gomashe and Ketan Shrikant Ranade, both of them are Indian. The do not seem to be directly related to Venky's. 

The charge of the training ground has been placed by Crossbaron Limited, whose two directors are Anil Kumar Pitalia and Asha Pitalia, who are both British. Their address is listed as 25 Chorley new road Bolton.

 

 

13452736

Posted (edited)
4 minutes ago, lraC said:

Venkateswara London Limited (company number 13452736) have 2 current Directors, namely Prashan Laxman Gomashe and Ketan Shrikant Ranade, both of them are Indian. The do not seem to be directly related to Venky's. 

The charge of the training ground has been placed by Crossbaron Limited, whose two directors are Anil Kumar Pitalia and Asha Pitalia, who are both British. Their address is listed as 25 Chorley new road Bolton.

 

 

13452736

 

IMG_1341.jpeg

IMG_1342.jpeg

Edited by wilsdenrover
  • Like 1
Posted (edited)
23 minutes ago, lraC said:

Venkateswara London Limited (company number 13452736) have 2 current Directors, namely Prashan Laxman Gomashe and Ketan Shrikant Ranade, both of them are Indian. The do not seem to be directly related to Venky's. 

The charge of the training ground has been placed by Crossbaron Limited, whose two directors are Anil Kumar Pitalia and Asha Pitalia, who are both British. Their address is listed as 25 Chorley new road Bolton.

 

 

13452736

At least we know where to go now.

Edited by Tyrone Shoelaces
  • Like 3
Posted
9 minutes ago, Dreams of 1995 said:

But Venkateshwara London Ltd is the company that owns the freehold for the STC.

Personally I find this all quite worrying. It seems like a plan "at large"

The reason that the directors of Crossbaron all have so many ltd companies is because they will create a new company for each development they do. This protects their assets. If they decide to build on Brockhall they would most likely create a "Brockhall Developments Ltd" or whatever. It is very common in construction development

It seems for all the world this is a plan to lose the training centre. The law of the land says that if we don't pay Crossbaron they will own the STC. They will then be able to do whatever they want with it. The truth is that they won't care as much about public opinion as an owner of a football club might

I honestly feel like this is the second step in the direction of stripping the STC as an asset from Venkys and ultimately Blackburn Rovers Football Club. The first was selling the training ground, for which we have not yet received a penny but have paid rent

That's what i was thinking, that this is just finally completely separating the training ground from the club.

Eventually it'll have to be moved off there which would probably help the application for planning in the long run.

  • Like 1
Posted
29 minutes ago, Dreams of 1995 said:

But Venkateshwara London Ltd is the company that owns the freehold for the STC.

Personally I find this all quite worrying. It seems like a plan "at large"

The reason that the directors of Crossbaron all have so many ltd companies is because they will create a new company for each development they do. This protects their assets. If they decide to build on Brockhall they would most likely create a "Brockhall Developments Ltd" or whatever. It is very common in construction development

It seems for all the world this is a plan to lose the training centre. The law of the land says that if we don't pay Crossbaron they will own the STC. They will then be able to do whatever they want with it. The truth is that they won't care as much about public opinion as an owner of a football club might

I honestly feel like this is the second step in the direction of stripping the STC as an asset from Venkys and ultimately Blackburn Rovers Football Club. The first was selling the training ground, for which we have not yet received a penny but have paid rent

How do you know we haven't received a penny for the sale of the training ground ?

Posted (edited)
7 minutes ago, Mashed Potatoes said:

How do you know we haven't received a penny for the sale of the training ground ?

Doesn’t the below suggest circa £11 million has definitely been received by the club - and the ‘final payment’ of circa £6 million should have been received by June?

IMG_1345.thumb.jpeg.2a9a85a0527c600aef493ceeed57602b.jpeg

Edited by wilsdenrover
  • Like 1
Posted
1 minute ago, tomphil said:

I think it's safe to say it was way over valued and the money received is probably a reflection of the real value ?

 

It would be interesting to know the value without the assumption of planning consent being granted.

  • Like 1
Posted
16 minutes ago, Mashed Potatoes said:

How do you know we haven't received a penny for the sale of the training ground ?

Think it was in our last set of published accounts that the money was outstanding

If some has been paid, fair enough. Either way, it is a horrendous transaction for BRFC

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