Blackburn Rovers taken over by Rao family
Premier League side Blackburn Rovers has been taken over by the Indian Rao family, owners of poultry company Venky's Limited.
The deal, which was completed on Friday 19 November, sees the trust set up by deceased former owner Jack Walker sell 99.9 per cent of its shares to Venky's London Limited for a total of £23m, while a debt of an estimated £20m has also been taken on by the
company.
"We're very pleased to be passing on the Rovers to the Rao family," Paul Egerton-Vernon, chairman of the Walker Trust, told reporters after the deal was completed.
Venky's chairman Anuradha J. Desai said that his company intends to run the debt-ridden club in a responsible manner.
"We will absolutely respect the Jack Walker legacy and will be actively supporting the organisation to ensure that Blackburn Rovers remains one of the best-run clubs within the Premier League.
"We are particularly pleased that the deal has the full support of the Walker Trust, the chairman and the management team, who will of course remain in place with our full support."
With its expertise lying in the Indian and Asian markets, it is thought that the Rao family's takeover will see the club look east to expand its fan base.
Manager Sam Allardyce, who has coached the team since 2008, said he hoped the takeover would result in an increase in transfer spending for his team, who are currently 14th in the Premier League.
"The best way to improve a football club in the early stages is the first-team results. We all know we have been short of a bit of investment in the last few years. Since the trust has tried to sell the club, they haven't been willing to fund the sort of
transfers needed to keep the club improving."
Tags: