The Summer Transfer Window (Press Submit)

[Mercer]

6 minutes ago, tomphil said:

 

Lets hope Eustace is a magician and Park has a hat with a rabbit or two in it.

Prepare to be disappointed!

There are reasons both are employed by Rovers 

[Crimpshrine]

3 hours ago, Forever Blue said:

They’ve said there are no impediments to funding the club in the way they’ve done prior to last summer. That doesn’t mean they will. 

From the court documents:

VENKATESHWARA HATCHERIES PRIVATE LIMITED Vs. UNION OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF

  Next Hearing

20-08-2024

 

From Case Status

“7. During the pendency of the writ petition, the Petitioner has filed the present application for fulfilling its commitments, regarding the payments to be made by it for Venky’s London Limited which is a Special Purpose Vehicle (SPV) holding 99.99% ordinary shares of Blackburn Rovers Football Club PLC (BRFC).” 

 

[tomphil]

3 minutes ago, Crimpshrine said:

From the court documents:

VENKATESHWARA HATCHERIES PRIVATE LIMITED Vs. UNION OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF

  Next Hearing

20-08-2024

 

From Case Status

“7. During the pendency of the writ petition, the Petitioner has filed the present application for fulfilling its commitments, regarding the payments to be made by it for Venky’s London Limited which is a Special Purpose Vehicle (SPV) holding 99.99% ordinary shares of Blackburn Rovers Football Club PLC (BRFC).” 

 

Looks to me like the whole purpose of that particular court hearing is to say yes or no to sending funds whilst the investigation continues.

Waggots version of events doesn't really tally....again.

[Ghost7]

3 hours ago, roverblue said:

The fact they havent sent a penny over since the last court approved chunk late last year tells you all you need to know.

 

Let’s judge them after the summer, every summer. 

[Moptop1]

Let’s judge them after 14 years….

Oh wait!!! 

what a shit show!

[Forever Blue]

19 minutes ago, Crimpshrine said:

From the court documents:

VENKATESHWARA HATCHERIES PRIVATE LIMITED Vs. UNION OF INDIA, MINISTRY OF FINANCE, DEPARTMENT OF

  Next Hearing

20-08-2024

 

From Case Status

“7. During the pendency of the writ petition, the Petitioner has filed the present application for fulfilling its commitments, regarding the payments to be made by it for Venky’s London Limited which is a Special Purpose Vehicle (SPV) holding 99.99% ordinary shares of Blackburn Rovers Football Club PLC (BRFC).” 

 

That’s to be read as ‘while we wait for the August court case on matters unrelated to Rovers, venkys have filed a ‘present application’ to fund Rovers. The outcome of that application, according to Rovers, is that they can fund Rovers without impediment. 

[Crimpshrine]

12 minutes ago, Forever Blue said:

That’s to be read as ‘while we wait for the August court case on matters unrelated to Rovers, venkys have filed a ‘present application’ to fund Rovers. The outcome of that application, according to Rovers, is that they can fund Rovers without impediment. 

OK mate

[tomphil]

49 minutes ago, Mercer said:

Prepare to be disappointed!

There are reasons both are employed by Rovers 

If he maintains the current squad and gets a few decent loans provided then Eustaceball will keep us up but it won't be pretty.

Further decimation or no depth / decent replacements added then only luck will keep us up.

[K-Hod]

16 minutes ago, Forever Blue said:

That’s to be read as ‘while we wait for the August court case on matters unrelated to Rovers, venkys have filed a ‘present application’ to fund Rovers. The outcome of that application, according to Rovers, is that they can fund Rovers without impediment. 

They can, but, assuming recent history repeats itself, they won’t.

[Forever Blue]

We’ll know soon enough, wasn’t Pasha on the plane to discuss budgets with them a couple of weeks ago? It amazes me the funding question wasn’t asked at the WATR AGM when they had the manager and head of football sat in front on them. Absolutely baffling!

Edited June 27, 2024 by Forever Blue

[lraC]

26 minutes ago, Forever Blue said:

That’s to be read as ‘while we wait for the August court case on matters unrelated to Rovers, venkys have filed a ‘present application’ to fund Rovers. The outcome of that application, according to Rovers, is that they can fund Rovers without impediment. 

I know we have covered this before, but it does not say that and given what it does say, why if Rovers are stating what they are, have they not made that document available?

To actually say they can fund us without impediment is incorrect, if what has been posted before is correct, as there is an impediment, in that people believe it is on the basis that an equivalent amount has to be deposited in an Escrow type account. That in itself is a huge impediment.

As already posted, the Rovers statement, is very cleverly worded, as it does not state they can send funds, it says, they can fund us. That could mean anything, as they can fund us form the money in the bank, future player sales, the Raya sell on fee and the future money from the sale of Adam Wharton, as well as season ticket money and the new sponsorship. 

If anyone is prepared to seek clarity, as the question "Can Venky's send funds from India to fund the running of the club, before the court hearing in August?". That will clear any ambiguity up and close the debate right down, but I do not believe they will state that.

[BankEnd Rover]

Not sure how legit this is

[Mattyblue]

16 minutes ago, Forever Blue said:

We’ll know soon enough, wasn’t Pasha on the plane to discuss budgets with them a couple of weeks ago? It amazes me the funding question wasn’t asked at the WATR AGM when they had the manager and head of football sat in front on them. Absolutely baffling!

I presume they were some of those questions that were vetted out in favour of the soft ball ones.

Edited June 27, 2024 by Mattyblue

[Rover8T4]

Posted a few weeks back

[Penwortham Blue]

24 minutes ago, Forever Blue said:

We’ll know soon enough, wasn’t Pasha on the plane to discuss budgets with them a couple of weeks ago? It amazes me the funding question wasn’t asked at the WATR AGM when they had the manager and head of football sat in front on them. Absolutely baffling!

To be fair, I did submit two questions to JE, 1) what were his aspirations / ambitions for the season and 2) what would he do if he wasn’t given the necessary backing in the transfer market or within the player budget. He did attempt to answer the first one but I don’t blame him for not covering the second one, he’s really between a rock and hard place albeit no doubt getting well paid for being in such a position.

 

Edited June 27, 2024 by Penwortham Blue

[MarkBRFC]

2 minutes ago, Rover8T4 said:

Posted a few weeks back

Elliot Jackson has no clue, he has took the clubs vague "should" stance and ran with it.

[phili]

13 minutes ago, MarkBRFC said:

Elliot Jackson has no clue, he has took the clubs vague "should" stance and ran with it.

It's a big impediment/ impediments as that personal guarantee is transfering the same  amount into a similar escrow account in case they lose. So to send us £10m is actually £20m they need to find etc 

I would expect this years funding is presently sitting in an escrow account from last November.

[Rover8T4]

2 minutes ago, phili said:

It's a big impediment/ impediments as that personal guarantee is transfering the same  amount into a similar escrow account in case they lose. So to send us £10m is actually £20m they need to find etc 

I would expect this years funding is presently sitting in an escrow account from last November.

No one explained this last time I posted it. If this information is correct thank you as I have no idea about these things. So basically they would have to put £40m in to cover costs and if they potentially lose

Edited June 27, 2024 by Rover8T4

[tomphil]

An investigatitive journo would find out the real meat on the bones in regards to the Venkys funding situation but there are non.

So the local journo can only churn out what the club tell him and assume it's gospel unless presented with evidence of otherwise.

[tomphil]

4 minutes ago, phili said:

It's a big impediment/ impediments as that personal guarantee is transfering the same  amount into a similar escrow account in case they lose. So to send us £10m is actually £20m they need to find etc 

I would expect this years funding is presently sitting in an escrow account from last November.

They aren't going to have 20 million sat in escrow and another 20 million in a bond account lying around waiting for court approval or whatever, come on that's a stretch to far.

I'd assume that once the previous 11 million had been sent and receipts provided that it was used what it was sent for then the same amount in a govt bond account would then be given back or used as collateral for the next lot.

[phili]

3 minutes ago, tomphil said:

They aren't going to have 20 million sat in escrow and another 20 million in a bond account lying around waiting for court approval or whatever, come on that's a stretch to far.

I'd assume that once the previous 11 million had been sent and receipts provided that it was used what it was sent for then the same amount in a govt bond account would then be given back or used as collateral for the next lot.

Nope the guarantees are there in case they lose the case so that eventual fines/prison terms etc can be dealt with.

The Indian authorities do not want the V's transfering all of their assets out of the country and are doing everything they can to make sure they can't. The November court case stated the money would be held up until the completion of the Governments investigation so unless it has concluded, £11m is still sitting in the Indian authorities account.

[Ricky]

Guessing there’s no transfer news then 

[tomphil]

4 minutes ago, phili said:

Nope the guarantees are there in case they lose the case so that eventual fines/prison terms etc can be dealt with.

The Indian authorities do not want the V's transfering all of their assets out of the country and are doing everything they can to make sure they can't. The November court case stated the money would be held up until the completion of the Governments investigation so unless it has concluded, £11m is still sitting in the Indian authorities account.

I hope they are looking at where a lump of the 200 million plus they've spent the last decade transferring has actually gone.

There must be something at the centre of this investigation that has caused all this, not just a cock up buying a house.

[Crimpshrine]

1 hour ago, Rover8T4 said:

Posted a few weeks back

and what is a 'caught case'  ? 

[lraC]

2 hours ago, Rover8T4 said:

Posted a few weeks back

This states that Venky’s  can now fund Rovers.

Venkys can send funds from India to the UK, to fund Rovers, is a lot different and again this has been used to obscure the truth, in my opinion. 

Edited June 27, 2024 by lraC