Indian family's vision for Blackburn Rovers
THE Indian family set to buy Blackburn Rovers are not expected to attempt a Manchester City-style revolution at Ewood Park.
Transfer funds are understood to be available for the forthcoming January transfer window, but supporters should not expect the club to start extravagantly splashing the cash.
Rovers can expect signings to help them sustain their position as a top-half team pushing for the Europa League, rather than spending carried out in the past by the likes of Chelsea and Manchester City.
The owners of Indian poultry giant Venky’s are confident of sealing a £46million buyout of the club a week tomorrow, in a deal that will clear the club of existing £16million debts.
The Lancashire Telegraph understands the purchase would be done on an equity basis, rather than a controversial loan-based leverage deal of the type Tom Hicks and George Gillett used to buy Liverpool.
Manager Sam Allardyce’s position at the club is not believed to be in jeopardy, while sources close to the deal have indicated there would be little change to the current personnel running the club.
While the future new owners preferred to keep their own counsel, they have revealed the funds to buy the club will be paid up front and that the money will be provided from their ‘own sources’, rather than from Venky’s.
Venky’s joint managing director Venkatesh Rao, said: “It is very much confirmed.
"In the next 10 days we will be announcing it formally. We are not here to compare with anybody.
"It’s one of the very prestigious, oldest and very well-run clubs. We are looking very positively.
“Don’t forget, this is an Indian first company. It is a prestigious moment for everybody and we should cherish this moment.
“Let us start with a new chapter. There are many plans. Right now there are too many things to be done so let me finish this deal and I will come back to you.”
Venky’s chairperson Anuradha Desai will join her brothers and fellow directors Mr Venkatesh Rao, Mr Balaji Rao and one other family member as the major shareholders.
They are not likely to make sweeping changes to the club’s power structure and are expected to have a low-key presence after being impressed by the current running of the club – a key element in them targeting Rovers.
The owners of Venky’s believe there is an untapped market for Premier League football in India and see the purchase of Rovers as a way of exploiting that potential.
“The young generation is getting interested in football,” Mr Rao said. “It’s a win-win situation.”
They know the only way of attracting Indian fans is to ensure Rovers remain a successful top-flight side and are ready to provide Allardyce with the necessary investment to compete financially with the majority of their rivals.
The Premier League are understood to have commenced their due diligence on Blackburn Rovers’ potential new owners ahead of the official Owners’ and Directors’ Test needed to approve the takeover.
Rovers have confirmed that they have held discussions with the Premier League regarding an imminent sale to Venky’s.
The league is understood to have now opened contact with the Indian poultry giants, although they cannot give the go-ahead to the takeover until a deal is officially finalised between the buyers and the club.
Under Premier League rules, any director owning at least 10per cent of the club must pass the Owners’ and Directors’ Test to prove that they are a fit and proper person to be involved in top- flight football.
The league must undertake a due diligence process, just as Rovers have had to do, before approving any new owners and the complexity of that may take some time – with the club expecting the takeover to be completed next month.
As part of the test, the Premier League are expected to meet the new owners, who must show the projected financial position of the club should a takeover go through, as well as proof of funds to demonstrate they can sustain the club for the year ahead.
paks ja vana john jäävad esialgu veel ametisse. sellel hooaja eesmärgiks olevat uued omanikud seadnud 10-12 ning säm saab kulutamiseks selle saavutmiseks jaanuaris 5-10 miljonit naela (räägitakse juba SwP, sebastian larssonist ja john guidettist)
THE Indian family set to buy Blackburn Rovers are not expected to attempt a Manchester City-style revolution at Ewood Park.
Transfer funds are understood to be available for the forthcoming January transfer window, but supporters should not expect the club to start extravagantly splashing the cash.
Rovers can expect signings to help them sustain their position as a top-half team pushing for the Europa League, rather than spending carried out in the past by the likes of Chelsea and Manchester City.
The owners of Indian poultry giant Venky’s are confident of sealing a £46million buyout of the club a week tomorrow, in a deal that will clear the club of existing £16million debts.
The Lancashire Telegraph understands the purchase would be done on an equity basis, rather than a controversial loan-based leverage deal of the type Tom Hicks and George Gillett used to buy Liverpool.
Manager Sam Allardyce’s position at the club is not believed to be in jeopardy, while sources close to the deal have indicated there would be little change to the current personnel running the club.
While the future new owners preferred to keep their own counsel, they have revealed the funds to buy the club will be paid up front and that the money will be provided from their ‘own sources’, rather than from Venky’s.
Venky’s joint managing director Venkatesh Rao, said: “It is very much confirmed.
"In the next 10 days we will be announcing it formally. We are not here to compare with anybody.
"It’s one of the very prestigious, oldest and very well-run clubs. We are looking very positively.
“Don’t forget, this is an Indian first company. It is a prestigious moment for everybody and we should cherish this moment.
“Let us start with a new chapter. There are many plans. Right now there are too many things to be done so let me finish this deal and I will come back to you.”
Venky’s chairperson Anuradha Desai will join her brothers and fellow directors Mr Venkatesh Rao, Mr Balaji Rao and one other family member as the major shareholders.
They are not likely to make sweeping changes to the club’s power structure and are expected to have a low-key presence after being impressed by the current running of the club – a key element in them targeting Rovers.
The owners of Venky’s believe there is an untapped market for Premier League football in India and see the purchase of Rovers as a way of exploiting that potential.
“The young generation is getting interested in football,” Mr Rao said. “It’s a win-win situation.”
They know the only way of attracting Indian fans is to ensure Rovers remain a successful top-flight side and are ready to provide Allardyce with the necessary investment to compete financially with the majority of their rivals.
The Premier League are understood to have commenced their due diligence on Blackburn Rovers’ potential new owners ahead of the official Owners’ and Directors’ Test needed to approve the takeover.
Rovers have confirmed that they have held discussions with the Premier League regarding an imminent sale to Venky’s.
The league is understood to have now opened contact with the Indian poultry giants, although they cannot give the go-ahead to the takeover until a deal is officially finalised between the buyers and the club.
Under Premier League rules, any director owning at least 10per cent of the club must pass the Owners’ and Directors’ Test to prove that they are a fit and proper person to be involved in top- flight football.
The league must undertake a due diligence process, just as Rovers have had to do, before approving any new owners and the complexity of that may take some time – with the club expecting the takeover to be completed next month.
As part of the test, the Premier League are expected to meet the new owners, who must show the projected financial position of the club should a takeover go through, as well as proof of funds to demonstrate they can sustain the club for the year ahead.
paks ja vana john jäävad esialgu veel ametisse. sellel hooaja eesmärgiks olevat uued omanikud seadnud 10-12 ning säm saab kulutamiseks selle saavutmiseks jaanuaris 5-10 miljonit naela (räägitakse juba SwP, sebastian larssonist ja john guidettist)
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