The authorities also don’t care about accumulated losses -if they did it would be a factor in the profit and sustainability (ha!) rules.

They’d still keep 72% of anything over the purchase price so it still makes sense for them to get as much as they can. Of course, other than inflation, it’s unlikely the club is worth more now when they purchased it. Unfortunately (to say the least) the bastards don’t appear to be going anywhere.

I don’t know whether there has been any scaling back but they did have that plan a few years ago to merge the STC and academy training grounds (to sell land for housing). I suspect that would have involved scaling back but of course we’ll never know.

I think those ‘hoping’ for administration are only doing so because they see no other way the Venkys are ever going to leave. I don’t think a single one of them would choose administration over Venkys deciding to sell. Of course the Venkys (or anyone they ever sold to) could also decide to cut back on staff/scale back the academy etc.

24% of any amount over the price they bought for (minus the costs of buying and selling*) * they could also deduct the costs of any improvements they’ve made but I think we all know this bit wouldn’t be relevant!

I don’t believe so as the double taxation treaty between the UK and India means tax is only payable in the country where the business resides.

They bought for £25 million (I think) so there would be CGT payable on any sale sum above this amount (minus the cost of buying and selling).

The UK and India has a double taxation treaty so any tax due would be UK only.

Gerry And The Pacemakers - Ferry Cross The Mersey

Overdraft due for renewal in May next year…

At least if he’s lying he’s making sure the backstory holds up 😁

Personally I’d have gone with stupid lol

The most recent Venkys London accounts include the following wording (my emboldening): ‘if the court does not permit the release of future funds there will be a significant impact on BRFC’s ability to trade and therefore on the group remaining a going concern’ These accounts were signed off by the owners on the 9th July this year, therefore any change (if there really has been one) would appear to have taken place after this date. Clearly not everybody at the club has been truthful - working out whether anyone has been in the tricky (impossible?) part.

Just to add to my own post. i don’t know what the interest rate on the overdraft is now but until May’24 it was 2% above the above base rate. What business would choose this over being funded interest free by their owners?

I made the foolish error of assuming they’d only make one fuck up per item 🤦‍♂️