Yes that's right. Cattle slaughter and the sale of beef were banned in many states in India. So Venky's made massive profits from extra poultry sales. Share prices rose accordingly. There could be indications of a change in legislation which will put beef back on the menu so speculators are selling Venky's shares while they are still relatively high. The worst that is likely to happen that the shares return to pre beef-ban levels ( when Venky's decided they needed to sell Cairney, Gestede etc !)

I honestly don't know what is happening. I have a friend in India who keeps me updated on these things. He works in financial markets and can't explain it either. Seems to be a rush to sell. Forecasts for the long term are mixed. Some analysts advise sell others say hold. Not many advising buy at the moment which suggests further falls. I think that report is from about 3 months ago when share price was maxed out.

Venky's (India) shares currently have a 5% circuit limit. That means trading is suspended when a change in share price reaches this limit on any given day. Today the share price dropped 5% in first 6 minutes of trading then suspended. Share price down 30% in 30 days. Expect a 5% drop each day for some time to come.

I notice Venky's (India) share price has been on a steady decline over the last month - almost 25% down since 1st May. May be a bad time to be asking for transfer budget.

Maybe he fancies waiting for a chance back at his hometown club - Barcelona!

I'm sure they would sell plenty of shirts if they had the word 'OUT' underneath Venky's. I'd buy one for sure

It may not hurt them as such but how does it benefit them in any way at all? Even mega rich people don't like wasting large amounts of money on things they have no interest in. There must come a point when they say enough is enough

I don't think that was how you explained it on the podcast unless I am missing something

It's been a very interesting thread - well done to Herbie and PLJPB for enlightening us all. If we had owners that we could trust and communicate with, there would be no need for us to worry. If the Venky's investment is £130 rather than £250 then that is less than £20m per year. A drop in the ocean in corporate Venkyland and probably less than the club's income from other sources. Given that the losses and outgoings are not itemised for us to see, I would not be surprised if the £130m is not offset by some of the incoming transfer profits and TV money. Maybe they have actually spent very little at all! Venky's admit they bought Rovers as an advertising vehicle for their company. They have no interest in football or Blackburn or the fans. Why would they keep throwing money at a failed venture? Maybe we can't use the term 'stripping' but the assets Rovers had in 2010 have all but gone and the money has not been reinvested. What does the future hold now that we can't top up the coffers with money from player sales?

Hey Herbie, thanks for going to the effort of explaining everything. Much appreciated. I am just naturally suspicious of V's motives and want to understand exactly what they are up to and why. Anyway you have helped a lot. One day maybe we will discuss Rovers without these buggars even getting a mention. We can live in hope.

As an earlier post suggests, I know nothing about company accounts. My repeated question, which maybe someone could answer, is where in the accounts are the outgoings itemised. The accounts keep declaring more losses each year but I don't see any detail anywhere. That is why I question whether Venky's really have poured in £250m. where has the money gone? Share value wise, Venky's companies worldwide are at an all time high - up 1600% in two years. They are paying off their corporate debts at a rapid rate while their net worth is high - see the graph on the web page link below. So why is Rovers debt continuing to grow? It doesn't fit with Venky's other companies. Why is there so little money in the bank with a stated overdraft of £13m ? I am very worried that when their stock is not so high we will be in real trouble. https://simplywall.st/stocks/in/food-beverage-tobacco/nse-venkys/venkys-india-shares/news/are-venkys-india-limiteds-nsevenkys-interest-costs-too-high/

I know that you have studied the accounts and often quote the £250m figure but I just find it all very suspect. Is it £120m worth of shares (which they can sell ) and £130 debt (which they have borrowed). In the last set of accounts turnover is £16m and wages £22.6m so the recent issuing of shares probably covers the difference. On top of that there is a declared loss of £17.9m for the year but this does not seem to be itemised anywhere - where is this explained in the accounts? Cash in the bank is only £223,806 and the overdraft is nearly £14m! with £109m owed elsewhere that seems incredible to me. How do these figures compare to other clubs ? creative accounting maybe.

Maybe peanuts to you but we want to reduce debt not increase it. No way we are going to be paying anyone 20K a week.

I'd love the Jordan Rhodes of a few years ago to return but fear he is no longer the same player. As for 20 K per week - way out of our league these days. Would simply be piled onto the ever increasing debt.

But have Venky's really spent £250 million on Rovers? Maybe they squirrelled away all the parachute money, the TV money, the profits from players etc and then used the same money to issue shares and loan money back to the club? If they really have ploughed all that income back into the club and it has cost £250 million on top of that and we are still massively in debt then how do other clubs manage to survive without having the same problems? It just doesn't add up to me.

Surely it's only a hobby if you are interested in it and enjoy it. Don't think either applies to Venky's where Rovers are concerned.

And still very worrying. It's good that we have a clearer picture of the context of the quote but there is nothing positive about it.

I never quite understand how the declared losses per year relate to the club's debt figures that are often quoted. I just did a quick scan through old LT reports on Rovers finances and found these figures recorded for the debts at the end of each season: 2014 £54.5 million 2015 £79.8 million 2017 £106.4 million What is it now ? I've seen £120 quoted somewhere. Is it that all the shares issued and money paid in by Venky's just get added to the club debt? Maybe this is the problem. I seem to remember it is total declared losses/debts that count towards FFP, not how much money is spent or received.

interesting article on Venky's finances https://simplywall.st/stocks/in/food-beverage-tobacco/nse-venkys/venkys-india-shares/news/are-venkys-india-limiteds-nsevenkys-interest-costs-too-high/

When we were organising 'Rock Against Venkys' I received a couple of weird emails stating that I should not use Venky's brand name to advertise the event and that I should remove all references immediately. This happened after the story was covered in the Daily Telegraph. I have no idea how the sender got my email address but I had been communicating with lots of newspapers and radio stations, bands, venues etc using that email. I just dismissed the warnings as they came from a GMAIL.com address and didn't seem in any way official. I was really hoping it WAS Venky's as the publicity of them trying to stop the gig would have been fantastic. I replied pointing out that I had not put the apostrophe in VENKYS so was not actually using the brand name. No idea if this was a valid defence but I never heard anything else. I would think the publicity of Venky's taking legal action against venkysout.com would not be worth their while. Again, the publicity that could be generated would do more harm to Venky's than the website itself I would think. When I was handing out flyers for Rock Against Venkys at Ewood before the MK Dons match earlier this season I got a very mixed response. I would say 50% of people I spoke to were broadly supportive, 40% were ambivalent about Venky's and 10% were totally against any protest and were happy for Venky's to stay. All valid opinions, of course, but a couple of people reacted as if I was an escaped lunatic and gave me a right mouthful. I suspect someone with these views sent the emails to me. But I will never know.

See what happens to Venky's shares when the beef ban is lifted in India. That legislation has been the reason for their share price rise over the last couple of years.

You say the money has been 'pumped in' but what has actually happened is that they have issued new shares to the value of £3.625m I don't understand how these things work but by issuing shares does that mean they can always get this money back by selling the shares or taking dividends. It's not like a free gift and their money has gone forever. Presumably, as long as the total assets of the club are over £147m ( Ewood, Brockhall, players ) the money is just an investment and could, in theory, be retrieved by selling assets. Where do the Bank of India come into it - is the debt to them completely unrelated to any share issues ? I've never understood it. Are they currently being totally benevolent or are they just moving money around?

Ah! that is bad news. Poor lad.

I guess it depends if he has already had surgery to fix the problem. If he hasn't then that would be the next step. It would mean a long recovery process but I think it is a generally successful procedure these days. Wish him all the best and hope we see him in Blue and White next year.

Dead can Dance - In the Kingdom of the Blind the One-Eyed Are Kings