Date: 24th July 2015 at 8:40am
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Blackburn Rovers look almost certain to remain under a transfer embargo for the foreseeable future (which most of us expected anyway!!) with Venky’s London Limited (VLL) posting a pre tax loss on their annual accounts.

The Lancashire Telegraph has informed us these losses of £35.6million for the year ending March the 31st 2015 (albeit it a marginal improvement on the £36million losses earlier in the year) aren’t going to impact any further on our Financial Fair Play (FFP) regulations (FFP relates to the Football Club accounts not VLL’s) it’ll hardly mean that these will be relaxed anytime soon with the transfer embargo lifted.

Therefore continued player sales would theoretically be our only way forward, which in itself doesn’t do Rovers (as a Football Club) any favours at all with the quality of those going out nowhere near those likely to come in, meaning any Barclays Premier League promotion dream would definitely be kissed goodbye!!

I’m an optimistic old goat but even my optimism (as things stand as is with the Rovers squad) doesn’t realistically stretch to us sustaining a promotion challenge under Gary Bowyer (maybe any other Manager in fairness to GB). If we lose any more players from this squad we currently have, no chance!!

Directors Anuradha Desai, Venkatesh Rao, Balaji Rao and Jitendra Desai have offered assurances finances will continue to be made available to Rovers so we can continue to trade without worry: “The group may continue to make operating losses and incur net cash outflows depending on a number of variables, including the success of the football club in league and cup competitions and the level of transfer activity.

“These forecasts (until the end of March 2016) indicate that the group will require significant funding in addition to the current facilities available to the group.

“The amount of additional funding required will be dependent on the net proceeds of any player trading and availability of bank facilities.

“In view of this the directors have received confirmation from the ultimate parent company (Venkateshwara Hatcheries Pvt. Ltd) that it has sufficient funds and is willing to provide such additional financing as may be required to fund the group to the extent necessary for the group to continue to trade and to pay its liabilities as and when they become due, for the next 12 months and thereafter for the foreseeable future.

All this financial stuff gets complicated for me.

However, the VVL Directors added Premier League promotion remains the aims and bringing in revenue streams to help make this possible carry on but as positive as I try to be when the Premier League parachute payments end large chunks of money (which are hardly helping that much as thing are??) are lost, if we’re not a Premier League side again by then what becomes or Rovers??

I don’t think it’s a case of blind panic breaking out at the moment, however, heads can’t be buried in the sand (if they had been??) either can they?? Venky’s have (to their credit) shown some improvement in the running of Blackburn Rovers Football Club from the early days but if we’re not able to somehow retain the silverware (top players) and manage promotion this season (last season was needed to be completely honest wasn’t it!!) the future isn’t looking that bright is it??

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