Popular Post tomphil Posted September 6, 2023 Author Popular Post Posted September 6, 2023 11 minutes ago, TheKitGuy said: Give it 2 weeks and this will not be a topic. As much as we all wish for the Venky's to sell up it's not in our best interests as crazy as that sounds. The money involved etc. is just not feasible unless someone with a seriously large budget comes in circa. £500m of spending money. The debt alone owed to the Venky's would chew up half if not more of that budget, it's so far away from a fan owned club that we all dream of. Dig deep, support the manager and players on the pitch and just hope to god miracles happen on the grass because they certainly won't be happening in the board room. They are never in 250 million years going to ask or expect their money back if they had to off load the club. Every other ownership in similar situations has written off what they've spent that is their problem and not really an issue if you need to quickly cut further losses you are unable to pay. The past money that isn't loaned and under repayment terms is gone spent null and void. It's money going forward that is the issue so they'd need to find a buyer able to fund it in the medium term not one who is going to cough up what they've already spewed. Did the Walkers try and hold out for 100 million ? No it was just what the club and its assets at the time were valued at plus any external debt. 13 Quote
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RoversClitheroe Posted September 6, 2023 Posted September 6, 2023 1 hour ago, LeftWinger said: I've been in touch with the editor of the India Today article. He would be interested in doing a fresh story regarding their investment in Blackburn Rovers. He wants accurate details and numbers. Would any of the people with more knowledge on the specifics of their investment (in numbers) being interested in getting in touch with him? Bump - please could someone help out. 2 Quote
DavidMailsTightPerm Posted September 6, 2023 Posted September 6, 2023 2 hours ago, Crimpshrine said: So what do we do? Rely on Venky's forever? At some point they will leave and the sooner the better so that we can start to rebuild. I don't know about you - but I would prefer a managed exit, so we can rebuild from a reasonable level, rather than caught in the tail spin of their financial problems. It is amazing to think - if you rewound a few weeks everything was fairly settled. We had brought in three promising players (early), settled management team, and I think most were looking forward to the new season with a degree of optimism (irrespective of our owners). Now looks like chickens are coming home to roost for our owners (and by default us) and that optimism is quickly evaporating. 3 Quote
RoversClitheroe Posted September 6, 2023 Posted September 6, 2023 @Mike E got a link to the new Nicko article on Venkys Patreon? Quote
JohnD Posted September 6, 2023 Posted September 6, 2023 Is there any connection between M/s VOL, Alexander House and Blackburn Rovers FC? Quote
Tugayisgod Posted September 6, 2023 Posted September 6, 2023 1 minute ago, RoversClitheroe said: @Mike E got a link to the new Nicko article on Venkys Patreon? https://www.patreon.com/posts/nevilles-old-at-88850611?utm_medium=post_notification_email&utm_campaign=patron_engagement&utm_source=post_link&token=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJyZWRpc19rZXkiOiJpYTo4N2FlYmNkNS00YmFiLTQzYTctYTM2ZS1kYmJkZTFmOTVkNTgiLCJwb3N0X2lkIjo4ODg1MDYxMSwicGF0cm9uX2lkIjo3MjMzNjE3N30.2_cHhLTDd4G-45WTTo4G60U7z_y2cGtC5LSnWm_2ZeE Quote
RoversClitheroe Posted September 6, 2023 Posted September 6, 2023 1 minute ago, Tugayisgod said: https://www.patreon.com/posts/nevilles-old-at-88850611?utm_medium=post_notification_email&utm_campaign=patron_engagement&utm_source=post_link&token=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJyZWRpc19rZXkiOiJpYTo4N2FlYmNkNS00YmFiLTQzYTctYTM2ZS1kYmJkZTFmOTVkNTgiLCJwb3N0X2lkIjo4ODg1MDYxMSwicGF0cm9uX2lkIjo3MjMzNjE3N30.2_cHhLTDd4G-45WTTo4G60U7z_y2cGtC5LSnWm_2ZeE BRFCs have a subscription they're allowed to share an image of his articles I'm pretty sure Quote
tomphil Posted September 6, 2023 Author Posted September 6, 2023 5 minutes ago, DavidMailsTightPerm said: I don't know about you - but I would prefer a managed exit, so we can rebuild from a reasonable level, rather than caught in the tail spin of their financial problems. It is amazing to think - if you rewound a few weeks everything was fairly settled. We had brought in three promising players (early), settled management team, and I think most were looking forward to the new season with a degree of optimism (irrespective of our owners). Now looks like chickens are coming home to roost for our owners (and by default us) and that optimism is quickly evaporating. Wasn't it Kammy who said that no matter how much better things get under Venkys disaster is always just one or two weeks away and that will always be the case. Some of the wisest ever words spoken on here from someone who has dealt with some of them. 5 Quote
tomphil Posted September 6, 2023 Author Posted September 6, 2023 2 minutes ago, JohnD said: Is there any connection between M/s VOL, Alexander House and Blackburn Rovers FC? Well seeing as this appears to be the issue that has lead to funding being cut then yes you'd have to say there is. 1 Quote
JohnD Posted September 6, 2023 Posted September 6, 2023 4 minutes ago, tomphil said: Well seeing as this appears to be the issue that has lead to funding being cut then yes you'd have to say there is. Possibly but we don't know that. Quote
jim mk2 Posted September 6, 2023 Posted September 6, 2023 2 hours ago, JHRover said: If that is found to be the case I don't see how anyone can accept the club being funded in such a way. It was legal proceedings that brought down the Oystons at Blackpool and I've always expected this is the only way of getting this lot out of Rovers. Fingers crossed. Most of their tenure hasn't been acceptable but no one has been able to do anything about it. If the tax "fraud" has taken place in the UK there might be hope but if it's in India would it have any ramifications for their UK interests? I don't know but I think it's unlikely Quote
Rogerb Posted September 6, 2023 Posted September 6, 2023 To be hoped they didn't pull the same stunt when purchasing the training ground.. 1 Quote
TheKitGuy Posted September 6, 2023 Posted September 6, 2023 52 minutes ago, tomphil said: They are never in 250 million years going to ask or expect their money back if they had to off load the club. Every other ownership in similar situations has written off what they've spent that is their problem and not really an issue if you need to quickly cut further losses you are unable to pay. The past money that isn't loaned and under repayment terms is gone spent null and void. It's money going forward that is the issue so they'd need to find a buyer able to fund it in the medium term not one who is going to cough up what they've already spewed. Did the Walkers try and hold out for 100 million ? No it was just what the club and its assets at the time were valued at plus any external debt. You know as well as I, the Walker family were desperate for cash so they could slip into the sunset, 4 Quote
wilsdenrover Posted September 6, 2023 Posted September 6, 2023 3 minutes ago, Rogerb said: To be hoped they didn't pull the same stunt when purchasing the training ground.. I wouldn’t object to a further £17 million of their Indian properties being seized. Quote
Popular Post Mattyblue Posted September 6, 2023 Popular Post Posted September 6, 2023 The idiot Walkers would have doubled their money (at least) if they’d have held on to the club for a couple of years until the next TV deal. Another family business containing a load of fools in the younger generations. 22 Quote
lraC Posted September 6, 2023 Posted September 6, 2023 With a few £million to spare as a result of some rather dubious business dealings, what better place to spend it, than on a football club. Things do eventually catch up with people, as we saw with Abramovich and with this story too. https://www.bbc.com/news/uk-england-lancashire-65653943 Quote
1864roverite Posted September 6, 2023 Posted September 6, 2023 Clearly it’s a tax issue in India NOT the UK. Looking at it with a wide angle many in here can cast their minds back to 2011-2014 when it was suggested that all events and happening at the time could have been considered dodgy! My thoughts are that IF they are found to have committed offences such like in India then someone is going to prison and for a good few years ! It might be in their interest to offload the club asap unless they have a solid defence or alternatively scapegoat who can take the blame 1 Quote
Popular Post DavidMailsTightPerm Posted September 6, 2023 Popular Post Posted September 6, 2023 18 minutes ago, Mattyblue said: The idiot Walkers would have doubled their money (at least) if they’d have held on to the club for a couple of years until the next TV deal. Another family business containing a load of fools in the younger generations. Fools or not - IMO they didn't honour Jack's final wishes for the club - and that is the worst thing. 14 Quote
Mattyblue Posted September 6, 2023 Posted September 6, 2023 Well that goes without saying, but at least they missed out on a proper jackpot. Quote
Herbie6590 Posted September 6, 2023 Posted September 6, 2023 3 hours ago, Crimpshrine said: I'm a little confused. The article claims that the problem is with Venky's Overseas Ltd dating back to 2011: The ED had initiated an investigation in connection with the illegal remittances made by the company since 2011 by its subsidiary named Venky's Overseas Limited, UK. But VOS Ltd was only created in 2023- based in Jersey. Venky's London limited, which directly owns Rovers, was created in 2010 but didn't post any accounts until 2011. Suspect it’s this company… 2 Quote
tomphil Posted September 6, 2023 Author Posted September 6, 2023 1 hour ago, JohnD said: Possibly but we don't know that. Coincidence i hear you say ? Quote
tomphil Posted September 6, 2023 Author Posted September 6, 2023 (edited) 42 minutes ago, TheKitGuy said: You know as well as I, the Walker family were desperate for cash so they could slip into the sunset Monaco Which proves the point that if you want or need rid due to circumstances beyond your control then past investment doesn't count for a lot. Edited September 6, 2023 by tomphil Quote
Bethnal Posted September 6, 2023 Posted September 6, 2023 3 minutes ago, Herbie6590 said: Suspect it’s this company… If it is, it looks quite brazen. Just under five months of incorporation, then voluntarily struck off. I suppose with Rovers, the case would be “we’ve been ploughing money into this thing to make it work, as it’s such an esteemed footballing institution. We’re just very bad at running it.” Quote
JohnD Posted September 6, 2023 Posted September 6, 2023 1 minute ago, tomphil said: Coincidence i hear you say ? No more than tax and other guesses that have been made. Quote
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