Blackburn Rovers 2018/19 Accounts once again show they have their very own Magic Money Tree

https://twitter.com/KieranMaguire/statu ... 1239420929

no need for them to go cap in hand to the Government

full accounts https://beta.companieshouse.gov.uk/comp ... ng-history

Just been reading that - I'm no accountant but those accounts show their total reliance on the owner funding it

Wage to turnover ratio down to a respectable 134% from 187% previously

ClaretTony wrote: ↑

Thu Apr 02, 2020 10:53 am

Just been reading that - I'm no accountant but those accounts show their total reliance on the owner funding it

When was the last time they didn't rely on owner/director funding? not done the research but given what is well known about their history including their early success you suspect it was in the very early years of the club's formation if ever

Do they still hate their owners? Or are they sheepishly realising they are the only thing keeping them from Bolton levels of problems.

Why arent they subject to sanctions for overspending ?

randomclaret2 wrote: ↑

Thu Apr 02, 2020 11:06 am

Why arent they subject to sanctions for overspending ?

Because the owners keep plugging the financial gap with additional share purchases, I trend taken up with zeal by the owners of Aston Villa

So they are currently nearly £150 million in debt, have I read that right?

Chester Perry wrote: ↑

Thu Apr 02, 2020 10:58 am

When was the last time they didn't rely on owner/director funding? not done the research but given what is well known about their history including their early success you suspect it was in the very early years of the club's formation if ever

There have certainly been a number of periods when they have totally relied on owner funding right from their early days.

Reports yesterday showed that due to the global pandemic the Venky brand has been massively hit financially. This and the report above combined could be a perfect storm for Wovers

Chester Perry wrote: ↑

Thu Apr 02, 2020 11:10 am

Because the owners keep plugging the financial gap with additional share purchases, I trend taken up with zeal by the owners of Aston Villa

It has to end sometime,will the crisis we are in now finally finish our rivals off,I sure many clubs will not ride this out...our friends from down the road are up to their necks in shite and it's a long way back..just ask Bolton.

It seems like the boycott has fizzled out.
Even the dimmest Shad knuckle-draggers must have twigged by now, if there's no Venkys, there's no Rovers.

The comments on this LET article are irony free https://www.lancashiretelegraph.co.uk/s ... ip-return/ no recognition at all in their role of cost inflation - transfers and wages - in the games

Theyre not the brightest

ClaretTony wrote: ↑

Thu Apr 02, 2020 11:21 am

There have certainly been a number of periods when they have totally relied on owner funding right from their early days.

key for me - every major trophy was met with operating losses funded by directors/owners is my understanding

Chester Perry wrote: ↑

Thu Apr 02, 2020 10:58 am

When was the last time they didn't rely on owner/director funding? not done the research but given what is well known about their history including their early success you suspect it was in the very early years of the club's formation if ever

I have a relative played for them in the late 70's. He told me they could hardly afford to pay the electricity bill. So I suppose at that time they self sufficient - well not quite if they couldn't afford the utility bills.

Just finished The English Game on Netflix and, even in that, their rich owner is buying all the best players in the country.

The English Game is a mixture of fact and fantasy typical of the author. If you do a little bit of background truth reading, you will find out that Fergus asked to come down from Scotland to follow his best friend as stonemasons, and yes Blackburn did break the rules in employing 'professionals' but it was clubs in the north of the country that raised their protests to this infringement of the rules; not the Old Etonians.
If you type Darwen v Old Etonians into a search engine you can see how Julian Fellowes warped the truth even about the cup match e.g they drew 5 v 5 then returned and drew 2v 2 after the Old Etonians had a whip round to help them with the second replay and then in the third replay they were well beaten.

Stayingup wrote: ↑

Thu Apr 02, 2020 12:57 pm

I have a relative played for them in the late 70's. He told me they could hardly afford to pay the electricity bill. So I suppose at that time they self sufficient - well not quite if they couldn't afford the utility bills.

That is one of the classic signs of owner/director funding to stay afloat - see it all too often repeated even in recent seasons

made me think of this exchange today on that price of football thread about Burnley's financial results



db @dbrereton

Replying to @KieranMaguire
Why do their numbers always seem reasonable, have they hit on a magic formula? As I remember where comfortably mid table too...

PriceOfFootball @KieranMaguire

Set a break even budget and stick to it.


db @dbrereton

Seems obvious Kevin, like there is a plan...

Anyone pick up on this from @KieranMaguire

Over the last decade Blackburn had total income of £324m but paid wages of £335m. Losses averaged £353,000 a week over the period.

yes average losses of £353k a week for a decade

ElectroClaret wrote: ↑

Thu Apr 02, 2020 11:26 am

It seems like the boycott has fizzled out.
Even the dimmest Shad knuckle-draggers must have twigged by now, if there's no Venkys, there's no Rovers.

Out of interest have Burnley fans Boycotted anything regards Our own Club....?apart from the crap Pies and tired old comments regards the pricing of a sh!t chocolate bar....! I recall the fans turning their backs once..or was that one fan turning his back once?

tim_noone wrote: ↑

Thu Apr 02, 2020 3:25 pm

Out of interest have Burnley fans Boycotted anything regards Our own Club....?apart from the crap Pies and tired old comments regards the pricing of a sh!t chocolate bar....! I recall the fans turning their backs once..or was that one fan turning his back once?

There have been a few - the most successful and sustained ones aimed at Bob Lord following the sales of Mcilroy and Dobbo

it was posted recently that we lost 7000 fans on gates following the sale of MciIroy

Wasn't the fans turning their backs against Crewe?
Can't remember the reason why, though.

Possibly a "Teasdale Out" protest?
Could be wrong on that.

Not easy to take good Indian businessmen to the cleaners but Shebby Singh (mis) managed to do it in the Deadwood saga. They, Venkys, must be absolutely gutted.

Chester Perry wrote: ↑

Thu Apr 02, 2020 3:19 pm

Anyone pick up on this from @KieranMaguire

Over the last decade Blackburn had total income of £324m but paid wages of £335m. Losses averaged £353,000 a week over the period.

yes average losses of £353k a week for a decade

Those figures are truly mind boggling CP. How a small, provincial town, similar to ours, can sustain losses like that for so long is frankly staggering. It only highlights the fact that if it wasn't for the Venky's largesse, blackburn would surely have gone the way of Bolton (or even Bury a long time ago).
Their fans should worship the ground that the Venky's walk upon.

Amazing spending figures by the Venkys.

What's always been rather puzzling to me is what the V's are getting out of this one-sided relationship.

ElectroClaret wrote: ↑

Thu Apr 02, 2020 10:00 pm

Amazing spending figures by the Venkys.

What's always been rather puzzling to me is what the V's are getting out of this one-sided relationship.

Not a lot if there is no tax break by having a loss making UK Company. Maybe CP might know about that?

Stayingup wrote: ↑

Fri Apr 03, 2020 9:12 am

Not a lot if there is no tax break by having a loss making UK Company. Maybe CP might know about that?

Its surely got to be something related to tax advantage.
Can't really see owt else.

Fretters wrote: ↑

Thu Apr 02, 2020 1:02 pm

Just finished The English Game on Netflix and, even in that, their rich owner is buying all the best players in the country.

That's where the Venkys are going wrong. They may be rich but they're buying sho!te !

Any Indian business people I know really do not like losing money most are extremely astute, the Venkys must be using the losses against other businesses.

You don't keep pouring money down the drain like the Venkys do and say it is fine, we shall put it in against our taxes, that is crazy.

I think it is more to do with the Indian culture, that they don't want to be looked down on if they fold Rovers.

Shame a Yank hadn't bought it. No way would the Americans keep piling money into that big black hole

Top Claret wrote: ↑

Fri Apr 03, 2020 8:37 pm

I think it is more to do with the Indian culture, that they don't want to be looked down on if they fold Rovers.

Well they certainly wouldn't be looked down on round here.

If the tap is still flowing, let's hope it floods the place.

Blackburn Rovers have been subsidised by wealthy owners throughout their history. They were actually formed by the middle classes, enabling them to acquire the best players and pay them when many others were poorer working NBC lads clubs, much like ours.

By the late 1900’s into the 1910’s they had another wealthy owner in Lawrence Cotton, a wealthy mill owner much in the guise of Jack Walker. He broke transfer records to buy the best players which got them 2 titles in 3 years. We all know what happened in the 90’s where a club sliding into Division Three was bankrolled to the title, and continued to be bankrolled back to promotion once Jack had died at his request, and then to the League Cup as they were still hugely overspending.

The trend after being bankrolled is always a struggle for many years. It’s happening now and happened back then too. If anything I think the only trophy they appear to have won whilst trading normally was an FA Cup in the late 1920’s.

The trouble with all that is that their fans see it as normal, so when they have owners who refuse to bankroll success they think they’re bad owners.

Ha! They currently have owners who’ve underwritten £260m and losses and they still think they’re bad owners!