More losses for Blackburn

Quickenthetempo · Post by **Quickenthetempo** » Tue Dec 18, 2018 9:29 am

£124m since the venkys took over now according to this set of tweets.

https://twitter.com/KieranMaguire/statu ... 90753?s=19" onclick="window.open(this.href);return false;

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 9:35 am

Quickenthetempo wrote:£124m since the venkys took over now according to this set of tweets.

https://twitter.com/KieranMaguire/statu ... 90753?s=19" onclick="window.open(this.href);return false;

This reminds me of the Stuart Adamson thread.

Just as you sow you shall reap.....

PWBFC · Post by **PWBFC** » Tue Dec 18, 2018 9:43 am

I’m no accountant, is that saying their full year revenues are £10m?

NottsClaret · Post by **NottsClaret** » Tue Dec 18, 2018 9:46 am

Bizarre set up there, spending £124m for all the glamour and exposure owning a provincial League One / Championship club gets you.

Quickenthetempo · Post by **Quickenthetempo** » Tue Dec 18, 2018 10:03 am

PWBFC wrote:I’m no accountant, is that saying their full year revenues are £10m?

Just wait until RoyboyClaret and ClaretForever go through it. They simplify it well.

Claretforever · Post by **Claretforever** » Tue Dec 18, 2018 10:14 am

should i drop collision coverage

Claretforever · Post by **Claretforever** » Tue Dec 18, 2018 10:20 am

PWBFC wrote:I’m no accountant, is that saying their full year revenues are £10m?

Full year revenue was £10.2m, and their wages alone were £15.7m (154% of turnover). You’ve then got your operating costs etc.

Haven’t they also agreed to pay about £6-7m for a player in January? Startling.

Bosscat · Post by **Bosscat** » Tue Dec 18, 2018 10:22 am

Claretforever wrote:Full year revenue was £10.2m, and their wages alone were £15.7m (154% of turnover). You’ve then got your operating costs etc.

Haven’t they also agreed to pay about £6-7m for a player in January? Startling.

FFP rearing its head again maybe ???

nil_desperandum · Post by **nil_desperandum** » Tue Dec 18, 2018 10:31 am

Claretforever wrote:
Haven’t they also agreed to pay about £6-7m for a player in January? Startling.

Never heard of him.

FactualFrank · Post by **FactualFrank** » Tue Dec 18, 2018 10:36 am

Bosscat wrote:FFP rearing its head again maybe ???

Does that ever get enforced?

MT03ALG · Post by **MT03ALG** » Tue Dec 18, 2018 10:38 am

Ray Startling. Plays a bit like Sterling.

RingoMcCartney · Post by **RingoMcCartney** » Tue Dec 18, 2018 10:49 am

Quickenthetempo wrote:£124m since the venkys took over now according to this set of tweets.

https://twitter.com/KieranMaguire/statu ... 90753?s=19" onclick="window.open(this.href);return false;

I've always said Blackburn are a right set of tweets.

Bosscat · Post by **Bosscat** » Tue Dec 18, 2018 10:57 am

MT03ALG wrote:Ray Startling. Plays a bit like Sterling.

Its their poor use if Stirling thats got them in this mess...

JW must be spinning in his plot...

Foulthrow · Post by **Foulthrow** » Tue Dec 18, 2018 11:03 am

MT03ALG wrote:Ray Startling. Plays a bit like Sterling.

Clarice's son?

JohnDearyMe · Post by **JohnDearyMe** » Tue Dec 18, 2018 11:11 am

They are still doing pretty well despite it all. I was hoping they would have gone out of business by now or in the bottom tier

Rowls · Post by **Rowls** » Tue Dec 18, 2018 11:35 am

Does anyone know if the Venkys own any other UK businesses that they could be writing these losses off against?

Rowls · Post by **Rowls** » Tue Dec 18, 2018 11:37 am

JohnDearyMe wrote:They are still doing pretty well despite it all. I was hoping they would have gone out of business by now or in the bottom tier

Catch 22 - If they didn't have the Venkys they perhaps wouldn't have been managed so badly but if they didn't have the Venkys' funds this kind of debt would see a club of their size in far more trouble than they already are - Bolton are the closest example and they have had a near constant threat of liquidation/administration for the past 3-4 years.

Colburn_Claret · Post by **Colburn_Claret** » Tue Dec 18, 2018 11:41 am

Isn't it strange how bastards no longer protest over the Venkys.
Maybe it's finally dawned on them, that without them picking up the tab every season, they would indeed be out of the league.

Imploding Turtle · Post by **Imploding Turtle** » Tue Dec 18, 2018 11:48 am

Oh yeah. I'd forgot about Rovers. How are they doing? Aside from the losses.

Lancasterclaret · Post by **Lancasterclaret** » Tue Dec 18, 2018 11:49 am

Apparently they are laughing at us being in a division higher than them or something.

Imploding Turtle · Post by **Imploding Turtle** » Tue Dec 18, 2018 11:51 am

Lancasterclaret wrote:Apparently they are laughing at us being in a division higher than them or something.

Oh no. Right in the feels

Claretforever · Post by **Claretforever** » Tue Dec 18, 2018 12:13 pm

Rowls wrote:Does anyone know if the Venkys own any other UK businesses that they could be writing these losses off against?

Post #6, first picture second paragraph. It’s ourely Blackburn a Rovers.

dsr · Post by **dsr** » Tue Dec 18, 2018 12:50 pm

Rowls wrote:Does anyone know if the Venkys own any other UK businesses that they could be writing these losses off against?

No, because tax losses can only be written off within the legal definition of a group of companies, not other companies owned by the same individuals. They might eventually get a personal UK Capital Gains Tax loss which they could offset against UK capital gains, if they have any.

775claret · Post by **775claret** » Tue Dec 18, 2018 1:17 pm

What's the Government grant of £1.125M due for repayment?

dpinsussex · Post by **dpinsussex** » Tue Dec 18, 2018 3:17 pm

Shame you missed notes 10 and 14 out.
Assets that don't appear to be very valuable

Leisure · Post by **Leisure** » Tue Dec 18, 2018 3:20 pm

775claret wrote:What's the Government grant of £1.125M due for repayment?

Think it was for fumigation and installing electricity and sanitation!

Oh and for turning the seats to face away from the pitch.

And putting a new roof on the old Darwen End.

Jimmymaccer · Post by **Jimmymaccer** » Tue Dec 18, 2018 3:51 pm

Negative goodwill on the balance sheet.......

Quality!!!!! Is that something to do with us!!!

Bosscat · Post by **Bosscat** » Tue Dec 18, 2018 3:56 pm

dpinsussex wrote:Shame you missed notes 10 and 14 out.
Assets that don't appear to be very valuable

Ewood and Brockhall perhaps?

Espia · Post by **Espia** » Tue Dec 18, 2018 4:20 pm

If my maths is right than a loss of £10 million is just over £27,000 a day.

Long Time Lurker · Post by **Long Time Lurker** » Tue Dec 18, 2018 4:32 pm

They could balance their books with a simple addition

Fixed Assets

Comedy Value = Priceless

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 5:09 pm

Another promise fallen through
Another season passes by you

dpinsussex · Post by **dpinsussex** » Tue Dec 18, 2018 6:07 pm

Bosscat wrote:Ewood and Brockhall perhaps?

Intangeables. Ie something that isn't touchable usually goodwill. Possibly player value ??

Clarets4me · Post by **Clarets4me** » Tue Dec 18, 2018 6:36 pm

The bottom line loss for the year is £15.2m ...up from £7.1m from the year ending March 2017.

Total turnover from all forms of income was indeed £10.2m, down from £16.1m from the previous year, when they'd have received Championship TV money, rather than League 1 TV money in the most recent figures. Profit on player disposals was only £1m, whereas it was £11.7m the previous year.

Their continued existance is only by the goodwill of the Venkys, who have increased the " Share Capital " ( see note 22 ) of the Company ( ie: pumped money in by issuing further shares ) by £20,772,156 over the 12 months to March 2018.

In simple terms, Venkys have funded them to the tune of £399,465 a week, for the year ending March 2018. That's perhaps why some of the fans have gone quiet on the " Venkys Out " front !!

Clarets4me · Post by **Clarets4me** » Tue Dec 18, 2018 7:10 pm

Further to the above, the excellent " Swiss Ramble " has analysed the Rovers accounts in his usual brilliant fashion on his blog .... making them understandable even for those of us with no experience of such matters ...

https://twitter.com/SwissRamble/status/ ... 4293143552

Update: Sorry, this was for the previous years accounts...I was misled by a thread on BRFCS !!

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 7:17 pm

Imagine one of them from’t other side looking at those accounts.

Look away look away, hide your eyes

IanMcL · Post by **IanMcL** » Tue Dec 18, 2018 8:30 pm

Jimmymaccer wrote:Negative goodwill on the balance sheet.......

Quality!!!!! Is that something to do with us!!!

Ha! Was just going to post the same,sword for word....but thought someone would have got there first...and you did. Precisely!

Negative Goodwill must be us!

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 8:52 pm

You can clearly see where the bowls are empty

bfcjg · Post by **bfcjg** » Tue Dec 18, 2018 8:59 pm

The financial Blackburn hole of Calcutta.

ElectroClaret · Post by **ElectroClaret** » Tue Dec 18, 2018 9:02 pm

Jimmymaccer wrote:Negative goodwill on the balance sheet.......

Quality!!!!! Is that something to do with us!!!

#snowballsrevenge

PWBFC · Post by **PWBFC** » Tue Dec 18, 2018 10:09 pm

So it takes us around a month to turnover what they do in a year.

Interesting.

Royboyclaret · Post by **Royboyclaret** » Tue Dec 18, 2018 10:20 pm

Just catching up and on first looks there appears very little unexpected within these accounts, in fact they are pretty much as we predicted I recall on the Magic Money Tree thread. Blackburn owe a massive debt of gratitude to Venky's for their continuing investment with a total contribution now exceeding £100 million.

Little doubt that without that investment Blackburn would most certainly have entered administration, but the Indians clearly see it as a realistic risk and reward exercise. Even an input of those levels is of little consequence to a billion pound company and if they were to achieve a return to the Prem the financial rewards would eliminate the debt.

Just a word on the Total Income of £10.2m which is exactly as predicted. They lost their solidarity payment from the previous season in the Championship and, in League One, were solely reliant in gate receipts and a small amount of sponsorship. For context, the comparable figure for Burnley will be circa £21m but with a TV Income of £119m our Total Income will be around £140m. So a difference of some £130m Income with our neighbours.

From those figures it's not difficult to understand why our BoD place such emphasis on retaining our PL status above all else and goes some way to explaining why Sean Dyche was instructed to play a weakened side in those European games.

Spijed · Post by **Spijed** » Tue Dec 18, 2018 10:44 pm

Royboyclaret wrote:From those figures it's not difficult to understand why our BoD place such emphasis on retaining our PL status above all else and goes some way to explaining why Sean Dyche was instructed to play a weakened side in those European games.

Why waste all that energy trying to beat Olympiakos?

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 10:49 pm

Royboyclaret wrote:goes some way to explaining why Sean Dyche was instructed to play a weakened side in those European games.

Sorry but must pick up on the last comment. Frankly suggesting any instruction to the ginger genius regarding picking a weakened side in Europe is utter BS. For a start if that was the case he would not have picked Pope at Aberdeen after 3 days training which would have avoided him getting injured. I’m pretty sure nobody at Board level will be instructing anything in terms of team selection

Royboyclaret · Post by **Royboyclaret** » Tue Dec 18, 2018 10:52 pm

Spijed wrote:Why waste all that energy trying to beat Olympiakos?

Not implying that we didn't want to progress in the Europa League, Spijed. Simply that the priority lay elsewhere.

Similar to Leicester tonight in their League Cup tie against City, they started with an unrecognisable team in view of their next two Prem games against Chelsea and Man City again.

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 10:55 pm

Royboyclaret wrote:Not implying that we didn't want to progress in the Europa League, Spijed. Simply that the priority lay elsewhere.

Similar to Leicester tonight in their League Cup tie against City, they started with an unrecognisable team in view of their next two Prem games against Chelsea and Man City again.

But that is Bs. We started with arguably the strongest available team in Aberdeen as picked by the manager. No relevance at all to a league cup tie

Royboyclaret · Post by **Royboyclaret** » Tue Dec 18, 2018 11:00 pm

Hibsclaret wrote:But that is Bs. We started with arguably the strongest available team in Aberdeen as picked by the manager. No relevance at all to a league cup tie

Really don't want to hijack what is an interesting thread on the accounts of Blackburn Rovers, but Hibs, what was our back four in the game in Athens when it really mattered ?

Claretforever · Post by **Claretforever** » Tue Dec 18, 2018 11:02 pm

Jimmymaccer wrote:Negative goodwill on the balance sheet.......

Quality!!!!! Is that something to do with us!!!

Negative goodwill is usually when something is sold off cheaply, maybe through desperation, although that’s speculation. Perhaps something to do with the share issue to introduce quick income to avoid a FFP breach?

Hibsclaret · Post by **Hibsclaret** » Tue Dec 18, 2018 11:06 pm

Agree re thread hijack but if you could explain the Dyche was instructed to play a weakened team comment please? Sorry that is nonsense.

He was getting players fit in the Europe campaign and thus used a number of changes across the games. This was squad rotation as much as anything but he certainly had no instruction to play weakened teams as you suggest.

If Ward played in Greece it was certainly our strongest left back for a start

Royboyclaret · Post by **Royboyclaret** » Tue Dec 18, 2018 11:19 pm

Hibsclaret wrote:Agree re thread hijack but if you could explain the Dyche was instructed to play a weakened team comment please? Sorry that is nonsense.

He was getting players fit in the Europe campaign and thus used a number of changes across the games. This was squad rotation as much as anything but he certainly had no instruction to play weakened teams as you suggest.

If Ward played in Greece it was certainly our strongest left back for a start

Don't take the statement too literally. I'm trying to highlight the fact that Dyche will be fully aware of the Clubs' priorities this season. He is merely an employee of the Club who has been rewarded with a lucrative contract and will give utmost priority to gaining points in the League.

Goody1975 · Post by **Goody1975** » Tue Dec 18, 2018 11:33 pm

If the Venky's are willing to keep funding them for the foreseeable future they could have a Championship budget of up to £30 Million a season and still comply with FFP.

Whether or not they are willing to chuck away £10 Million+ a year to keep the ship afloat while hoping that they are able to win promotion is another matter, i thought they'd have changed the plan years ago but it shows no signs of returning to a sane persons business model anytime soon.