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Blackburn announce completion of Venky's takeover

Sam Allardyce hopes to have cash to spend on players © Getty Images

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Blackburn Rovers have confirmed the takeover of the club by Indian poultry firm Venky's.

The BRFC Investments group - part of the settlement of the club's late former owner, Jack Walker - has sold its 99.9% shareholding to Venky's London Limited for £23 million and the company will make an unconditional offer for the remaining 0.1% of shares.

Rovers chairman John Williams welcomed the news, which is designed to ensure the future sustainability of the club and its ongoing existence in the Premier League.

"The successful conclusion of the deal is clearly a significant event in the history of the club," Walker told the club's website. "It represents the end of the remarkable Walker era, which saw Rovers projected to the top of the football pyramid. In the ten years since Jack's death the board and trustees together have managed to build on Jack's legacy and preside over the club's longest term in the top flight since 1936.

"The Rao Family pursued the opportunity with determination and enthusiasm. The board will remain focused on what it does, providing important stability, a platform from which the new owners will be able to launch new ideas, particularly in markets outside the UK."

Under Jack Walker, Blackburn became Premier League champions with Kenny Dalglish at the helm, and the ambitions of new owners Venky's are to re-establish the club as a well-known force around Europe.

Anuradha J Desai, chairperson of Venky's, stated: "We are delighted, proud and humbled to be associated with Blackburn Rovers, a team with whom we share many values and ambitions. Going forward we plan to focus on leveraging the global influence in establishing Blackburn Rovers as a truly global brand.

"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.

"Blackburn Rovers is an historic institution that has won the Premier League and we want the fans to embrace us so that we are able to do our best in the interests of the club."

Blackburn boss Sam Allardyce is hopeful investment from the new owners will bolster his transfer budget. Since the Jack Walker Trust put the club up for sale Allardyce's spending has been limited and he admits it has made his job difficult.

"It would be very disappointing if it wasn't somebody that wanted to take over the club and try to improve it as quickly as possible," Allardyce said. "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. That's put it in danger of maybe being in the throes of selling your best players and threatened with relegation."

© ESPN Sports Media Ltd.