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Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 8:23 am
by fatboy47
https://threadreaderapp.com/thread/1413 ... 61636.html
The ice is getting thinner at Ewood.
Hope this link works.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 8:40 am
by Paranoid
Link works and wow!
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 8:44 am
by Steve-Harpers-perm
Crazy amount of money. Is this figure from their latest accounts? I read there had been quite a delay in them publishing them.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 8:45 am
by Buxtonclaret
Eye watering.
I'm not a 'Money Man' like some of our contributers on here, but cant understand what they're doing this for?
Some sort of tax loss?
They seemed to have settled into some multi million pound annual deficit and have decided to just leave it at that.
They really don't seem to be bothered anymore about funding a big drive to get into the Prem.
Maybe they've even just forgotten that the Stableboys is a toy they own.
Easy done, I suppose.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 8:56 am
by Steve1956
Oh dear how sad
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 8:59 am
by Belial
Lovely stuff
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 9:44 am
by GodIsADeeJay81
Buxtonclaret wrote: ↑Thu Jul 08, 2021 8:45 am
Eye watering.
I'm not a 'Money Man' like some of our contributers on here, but cant understand what they're doing this for?
Some sort of tax loss?
They seemed to have settled into some multi million pound annual deficit and have decided to just leave it at that.
They really don't seem to be bothered anymore about funding a big drive to get into the Prem.
Maybe they've even just forgotten that the Stableboys is a toy they own.
Easy done, I suppose.
No one can understand their motives
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 9:46 am
by tim_noone
Maybe if we all stopped eating chicken.....
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:13 am
by dibraidio
I thought there were financial fair play rules in the championship? How can having a 25m wage budget and a 13m turnover be considered sustainable?
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:13 am
by bfcjg
If they try to flog them who will buy it with debts like that ? Bstards will survive forces long as the Venkys keep pouring cash into the black hole of Ewood.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:15 am
by Fretters
Buxtonclaret wrote: ↑Thu Jul 08, 2021 8:45 am
Eye watering.
I'm not a 'Money Man' like some of our contributers on here, but cant understand what they're doing this for?
Some sort of tax loss?
They seemed to have settled into some multi million pound annual deficit and have decided to just leave it at that.
They really don't seem to be bothered anymore about funding a big drive to get into the Prem.
Maybe they've even just forgotten that the Stableboys is a toy they own.
Easy done, I suppose.
I'm not a money man either, but I can only think it's to off-set profits on their chicken business, reducing their tax bill.
What choice do they have though, really? I can't see anyone buying the club from them with those losses, even for a nominal fee.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:16 am
by Fretters
dibraidio wrote: ↑Thu Jul 08, 2021 10:13 am
I thought there were financial fair play rules in the championship? How can having a 25m wage budget and a 13m turnover be considered sustainable?
They've been put under another embargo I heard, partly for this reason I guess.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:25 am
by Quickenthetempo
They're hoping to sell Armstrong for £282m so it shouldn't matter.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:31 am
by GodIsADeeJay81
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:43 am
by ElectroClaret
I keep saying its all unsustainable from the V's point of view, but they seem determined to prove me wrong by keeping on shovelling money in.
God knows what their motives are.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:46 am
by Lancasterclaret
Only matters if the Venkys pull the plug
The motivation is beyond bizarre now, as they are clearly making no effort to balance the books, but at the same time are doing nothing in regards to securing promotion, or attempting to sell it
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 10:56 am
by Spijed
I've a similar concern with the way our own debt will be serviced if/when we get relegated but don't make a rapid return to the Premier league.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 11:07 am
by Bosscat
The money could be disappearing down one of the "4000 holes in Blackburn Lancashire"
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 11:57 am
by J50
Bosscat wrote: ↑Thu Jul 08, 2021 11:07 am
The money could be disappearing down one of the "4000 holes in Blackburn Lancashire"
I thought the population was bigger than that and there were more women in Blackburn than just 4,000...
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 12:11 pm
by Bosscat
J50 wrote: ↑Thu Jul 08, 2021 11:57 am
I thought the population was bigger than that and there were more women in Blackburn than just 4,000...
https://youtu.be/usNsCeOV4GM
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 1:25 pm
by Colburn_Claret
If the Venkys ever decide to cut their losses, they are truly shafted.
Nobody would want, or could afford to take on that debt.
A restart from the bottom of the pyramid would be a GOOD outcome in those circumstances.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 1:32 pm
by GodIsADeeJay81
- Screenshot_20210708-133206.png (859.65 KiB) Viewed 2362 times
Not sure where they're going, but it ain't upwards.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 1:34 pm
by claretonthecoast1882
Never a huge fat polar bear to jump on the ice when you need one
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 1:59 pm
by Chester Perry
I have been saying for some time now that it is a false belief that pouring money into shares rather than loans means a club is safe going forward, clubs and fanbases become too accustomed to the overspend and it becomes expected behaviour rather than a short term intervention. Owners carry on until they can afford it no more.
Also don't kid yourself that it is only an EFL problem mainly in the Championship, the EFL actually sanction the practice in Leagues 1 and 2 under it's Salary Cap Management Protocol, whereby owners can lift the wage spend at the club by putting money into the club as equity.
This madness of wage/transfer overspend is happening at all levels of English football, even the Premier League is not immune, the race/spend/demand that European football and the financial rewards that brings is encouraging the same practices we see in the Championship. Both Everton and Aston Villa have gone down the share investment route (though Everton have also taken on both owner and commercial debt) and many other clubs have taken on debt chasing European places especially Leicester, Crystal Palace, Southampton - Tony Bloom at Brighton his the 4th largest ever creditor to a club in English history (Moshri at Everton recently overtook him to get to third) and his current aim is not even a European place.
It is all somewhat ridiculous and comes back to what Arsene Wenger calls financial doping, but absolutely no one seems to care in this country - contrast that to La Liga's financial protocols that are causing Barcelona so many (self inflicted) difficulties this summer as they look to remove 200m from their costs
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 2:01 pm
by Spijed
Chester Perry wrote: ↑Thu Jul 08, 2021 1:59 pm
I have been saying for some time now that it is a false belief that pouring money into shares rather than loans means a club is safe going forward, clubs and fanbases become too accustomed to the overspend and it becomes expected behaviour rather than a short term intervention. Owners carry on until they can afford it no more.
Also don't kid yourself that it is only an EFL problem mainly in the Championship, the EFL actually sanction the practice in Leagues 1 and 2 under it's Salary Cap Management Protocol, whereby owners can lift the wage spend at the club by putting money into the club as equity.
This madness of wage/transfer overspend is happening at all levels of English football, even the Premier League is not immune, the race/spend/demand that European football and the financial rewards that brings is encouraging the same practices we see in the Championship. Both Everton and Aston Villa have gone down the share investment route (though Everton have also taken on both owner and commercial debt) and many other clubs have taken on debt chasing European places especially Leicester, Crystal Palace, Southampton - Tony Bloom at Brighton his the 4th largest ever creditor to a club in English history (Moshri at Everton recently overtook him to get to third) and his current aim is not even a European place.
It is all somewhat ridiculous and comes back to what Arsene Wenger calls financial doping, but absolutely no one seems to care in this country - contrast that to La Liga's financial protocols that are causing Barcelona so many (self inflicted) difficulties this summer as they look to remove 200m from their costs
How will we be able to stabilize the ship if we drop and don't return?
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 2:09 pm
by Chester Perry
Spijed wrote: ↑Thu Jul 08, 2021 2:01 pm
How will we be able to stabilize the ship if we drop and don't return?
There is always the fall back of handing the club back to Mike G and John B - who have a bit of extra cash at the moment
I keep saying that the prime target of Pace and co is to increase non TV revenues, and how they perform against that measure will be significant the significant determinant as to where we are with the debt relegation or other wise - there are plenty of clubs in the Championship with more debt than we have taken on - I still don't like it but it is what it is.
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 3:18 pm
by Chester Perry
Kieran Maguire has been talking to Radio Lancashire about these results - last 10 minutes
https://www.bbc.co.uk/programmes/p09nshkq
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 3:54 pm
by Vegas Claret
he doesn't seem concerned unless they pull out and he doesn't think they would do that
Re: Venky bailout at Ewood reaches £282m.
Posted: Thu Jul 08, 2021 4:10 pm
by Chester Perry
Vegas Claret wrote: ↑Thu Jul 08, 2021 3:54 pm
he doesn't seem concerned unless they pull out and he doesn't think they would do that
He is not concerned that Brighton are into Bloom for approaching £400m either - it is not his money I find it interesting how he calls all those other clubs and owners, but is not at all bothered as long as owners meekly stump up the cash - it is not a sustainable approach for the clubs concerned or the game at large as the overspend has a definite ripple effect across the leagues and the wider game. I quite like what little I know about the La Liga approach, though it does re-enforce the current established position unless a club like Barcelona explodes
