[Archived] Rovers For Sale?

[Glenn]

Slightly fewer 000s than that    Nice thought, we could all take turns as manager. The championship would be over by Christmas 

We could hire a few coaches to do the training sessions and so on, and then we could discuss the lineups here at this forum...

SO, who wants Friedel in goal for Sat? I've got the final word, but you can all state your opinions and I'll se what I can do !

We could just run a poll

..... Hang on, we'd end up with Lee Grooby playing all 11 positions

[mrsjansen]

Our great Uncle would be turning in his grave at the mere mention of his beloved club being sold.

Mind you JW has denied it..................means we will be sold by this time next week.

[Parasyte]

The support and feelings that I personally had as a fan towards Jack, is in no way reflected in the Trust. If it means Rovers can compete at a higher level than possible, then thats all fine by me.

I heard Fred Walker wanted to buy Blackburn outright

[herbergeehh]

Great, Sir Woodward for managers position within three weeks then eh?

[Blackburn Ender]

I thought the whole point of Jack Walker's trust fund set-up was so Rovers could not be sold thereby assuring our club's future for the long-term.

Giving away control of the club to an outside person/company - however well-meaning they may appear to be - would run counter to the point of the trust, namely to safeguard the longterm interests of the club (although I concede they might try to position any sale as just that).

[mattyboy6000]

There are a few problems some new capital could address. As I see it-

A) The trust-

1) apparently the calibre of some of those running it is in question – a potential reason for the details of who these people are being kept quiet?

2) they may be administering their role to the letter- but I don't feel they're doing it to the spirit of Jack's legacy. I still cannot stack up where the income from selling duff and dunn - estimated @ £24m – has been expended – has it entirely been reinvested in the club? Since the trust took over the financial side the amount of capital in the game in general has continued to increase at a dramatic level, and rovers need to invest wisely, but they need to do it over, say, a 5 year cycle, rather than balancing the books every year being the priority. As a medium term and uncertain investment Rovers are much less-attractive on paper compared to some of Jack's other interests – and therein lies the rub. Rovers were never a way for Jack to make money, and yes we need to be self sufficient – but we are in dire need of capital – and the Walker Trust can provide this without the club or the trust mortgaging their future akin to Leeds FC.

The management of the club:

When John Williams effectively took over the day to day management of the club from Bob Coar I expected things to improve greatly – no more statements in the press saying transfer rumours were “absolute crap” when they weren’t – (Batty, Shearer). However, I am yet to witness the shrewd commercial management I was expecting from Williams as one of Jacks chosen few. There’s definitely a case for headhunting someone with some real balls to manage BRFC’s relationship with the trust to a more effective outcome, and in turn this would dispel the suggestions of a narrow and somewhat backward approach to managing the club restricting BRFC’s true potential.

Edited October 5, 2004 by mattyboy6000

[Paul]

The management of the club:

I am yet to witness the shrewd commercial management I was expecting from Williams as one of Jacks chosen few. There’s definitely a case for headhunting someone with some real balls to manage BRFC’s relationship with the trust to a more effective outcome, and in turn this would dispel the suggestions of a narrow and somewhat backward approach to managing the club restricting BRFC’s true potential.

You may get a few responses to that

Regarding the Duff/Dunn money, a proportion was made available to Souness with the balance being used to reduce debt of £15m. The ntention behind the debt reduction being to reduce the £750,000 Rovers pay in interest according to the last published accounts.

[mattyboy6000]

£750k interest / ann on a £15m debt = interest @ 5% - I thought BRFC got their capital off the Trust at very favourable rates- is 5% a favourable rate?

[AussieinUk]

£750k interest / ann on a £15m debt = interest @ 5% - I thought BRFC got their capital off the Trust at very favourable rates- is 5% a favourable rate?

Well its more favourable than 10%

[Paul]

£750k interest / ann on a £15m debt = interest @ 5% - I thought BRFC got their capital off the Trust at very favourable rates- is 5% a favourable rate?

Compared to my mortgage at 4.75% no!!

I suspect the trust has to charge something that is reasonably competitive. Don't forget the trust also hands Rovers +/- £3m per annum to make up the shortfall in gate receipts.

[waggy]

i wonder if wigan's promotion bid fails this year,could dave whelan be talked into taking over at ewood.im sure i read somewhere he is selling jjb,and he has connection's with ewood

[mattyboy6000]

yeah- probably right there paul. i had the idea that they would be giving us capital at the rate of inflation - which is 2.3% from memory

[mattyboy6000]

i wonder if wigan's promotion bid fails this year,could dave whelan be talked into taking over at ewood.im sure i read somewhere he is selling jjb,and he has connection's with ewood

All I know about this is what I saw in the Ruby Wax documentary on Whelan- at that point he was buying the floated shares back in order to minmise the inheritance costs. I assume this to have been within the last 12 months

[jim mk2]

I've always wondered whether Whelan would get involved in Rovers but, as a confirmed Wiganer, I think his dream is to see his home-town team playing in the Premiership.

Whether the Wigan public share his vision is another matter: a crowd of 7,000 watched the league leaders play at the JJB Stadium last Saturday.

[mattyboy6000]

Whether the Wigan public share his vision is another matter: a crowd of 7,000 watched the league leaders play at the JJB Stadium last Saturday.

off-topic, but Wigan used to get 3.5k attendance- but even with the Warriors playing in summer, and them ripping up the championship them only getting 7k must be a concern

[waggy]

i'm sure in the early days off the premier,dave whelan had a box at ewood,he was always doing draws and raffles on the pitch.maybe the urge to be a premier league chairman might outweigh his love off wigan

[Paul]

I think, but I'm not 100%, Whelan bought the shares back at around £2.20 and they are currently values at £2.60/£2.80. There may have been a media story around that he was looking to sell again.

[Nayef]

"Walker bought Rovers the Premiership title in 1995"

Quel connard. Why do people feel compelled to say something like that yet refuse to say the same about Man U or Arsenal?

What about Leeds, or Newcastle?

Do people go around suggesting Houllier bought the treble in 2001 (or whenever twas)?

I think the words "big club" and "favouritism" spring to mind.

[philipl]

Oh boy, Mattyboy, where to begin?

First of all are you speaking with the benefit of inside knowledge or supposition?

The last published accounts show an interest charge of £370,000 on £15m debt if that helps you to work out the effective gross interest rate. Hint, its not 5%. I very much doubt that there is any truth whatsoever in your stab at £750K unless we are talking about different years which is unlikely s the club's debt was more than halved by the sales of Duff and Dunn even after before the inwards purchases.

The money was partly lent by the banks and partly from the Walker Trust.

I have to admit that the marketing side of Rovers has been the one disappointment of the JW period as CEO. Apart from that, there can be little doubt that he is one of the best CEOs around in the Premiership if not the best. I don't know where you are coming from and on what basis you are making your comments about him.

[mattyboy6000]

Oh boy, Mattyboy, where to begin?

First of all are you speaking with the benefit of inside knowledge or supposition?

The last published accounts show an interest charge of £370,000 on £15m debt if that helps you to work out the effective gross interest rate. Hint, its not 5%. I very much doubt that there is any truth whatsoever in your stab at £750K

PhillipL I don't think all the time in the world would make it worth beginning with to deal your inability to read.

please go and read page 3 where Paul tells us that the interest we were liable for was £750k

then tell me more about my 'stabs'

[mattyboy6000]

I have to admit that the marketing side of Rovers has been the one disappointment of the JW period as CEO. Apart from that, there can be little doubt that he is one of the best CEOs around in the Premiership if not the best

apart from..... dwindling attendances.. bottom five of the premiership..

yeah.. I mean apart from the possibility that the club will go down the tubes and never return he's done a great job, right?

anyway.. that wasn't and isn't my point, some kind of cat fight about individuals. My point here is that the position of CE of the club is very likely to be a bloody hard job, to do it we need someone damn good

[philipl]

Oh boy, Mattyboy, where to begin?

First of all are you speaking with the benefit of inside knowledge or supposition?

The last published accounts show an interest charge of £370,000 on £15m debt if that helps you to work out the effective gross interest rate. Hint, its not 5%. I very much doubt that there is any truth whatsoever in your stab at £750K

PhillipL I don't think all the time in the world would make it worth beginning with to deal your inability to read.

please go and read page 3 where Paul tells us that the interest we were liable for was £750k

then tell me more about my 'stabs'

I have the club's last set of audited accounts open in front of me.

Total interest liability incurred for the financial year £412,088. Interest paid net of interest income earned £388,745 (I was pretty close on the number I remembered).

However, I was £10m short on he mount of debt the club had. Borrowings at 30 June 2003 were from Banks £12.4m and from the Walker Trust £14m.

On that basis I would say the Rovers got an incredibly good deal from the Walker Trust on the interest rate it pays to them.

Yes I can read, thank you for asking.

However, I wonder about your abilities judging by your comments on the qualities of John Williams and the people managing the Walker Trust. In my opinion, Williams is of the very highest quality.

[mattyboy6000]

Yes I can read, thank you for asking.

However, I wonder about your abilities judging by your comments on the qualities of John Williams and the people managing the Walker Trust. In my opinion, Williams is of the very highest quality.

if you can read then one wonders where you got the source for the £750k interest a year claim. your response regarding the interest charge is very interesting, maybe it would be better directed at paul, though? given that I didn't actually claim this???

and may I add, what is your your knowledge of those involved in the trust?

if you have anything objective to say about them feel free

opinions are like arseholes, everyone has one. However, I have attempted to base my observations on fact rather than opinion.

Edited October 5, 2004 by mattyboy6000

[Tris]

phillipl has been posting well informed comment on this board re financial matters (Rovers, Leeds, football in general, commercial deals, etc) for several years

also the membership of this board voted him best contributor in 2003

unlike you mb6000

opinions may well be like arseholes

you just are an arsehole

Edited October 5, 2004 by Tris

[mattyboy6000]

phillipl has been posting well informed comment on financial matters (Rovers, Leeds, football in general, commercial deals, etc) for several years

unlike you

like i said.. if people made observations based on fact rather than dogma wouldn't things be easier..

anyway

time will tell