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More takeover details

More takeover details

Plenty of details emerging about the proposed takeover by Venky's this morning as various media outlets swarm to get the inside information.

From what we understand over here on Planet Vital Blackburn, there are a few little snippets that can be confirmed.

First off, Big Sam Allardyce and John Williams will retain their positions at the club in the same capacities and particularly in the case of Mr Williams it is richly deserved.

The transfer budget set aside by VH for January appears to be a rather modest £6 million but further investment for future transfers windows will be consistent and steady to encourage growth.

But to add to the excitement, the potential new owners have even been crowing about their new potential purchase on Indian TV.

Speaking on Tuesday night to the Indian TV channel CNBC-TV18, Venky`s managing director Venkatesh Rao was positive about the sitauation.

Mr Rao commented - "It is very much confirmed. In the next 10 days we will be announcing it formally. It is a £46million deal.

"We will have to pump in some more money later on and I don`t want to get into the details of it.

"Blackburn is one of the very prestigious, oldest and very well-run clubs [in England]. This is an Indian first company in the Premier League. It`s a prestigious moment for everybody and we should cherish this moment."

The main news of the deal though is that Blackburn Rovers will become a debt free club, with the £17 million owed to financial institutes wiped out and in today's economic climate that is a massive boost.

ARTE ET LABORE.

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Writer:Mikey Delap
Date:Wednesday October 27 2010
Time: 8:53AM

Comments

0
All getting a little bit exciting now isn't it?!
Mikey Delap
27/10/2010 08:57:00
0
amazing. sure its only 6 mill pounds.However, we will be debt free, sustainable and have a platform to build on!
sasman
27/10/2010 09:15:00
0
Woo. £6m is enough for a striker at least. If Niko cost £6.5m though I'm not sure what we will get but I'm sure Sam can uncover something.
fransavarese
27/10/2010 09:18:00
0
still dont understandwhat Kentaro/SEM are up to.....im going to email them....then call them! +44 number, where on earth is that lol
sasman
27/10/2010 09:30:00
0
It is the best international code going Sas!!!
Mikey Delap
27/10/2010 09:44:00
0
oh thats ur land lol pfft....il just email then :D
sasman
27/10/2010 10:26:00
0
WoohooO!! Go Rovers!! This is some serious market, fellas. If VH take it slowly and work on the commercial side (which they undoubtedly will), Blackburn is going to have a great (and cash filled!) future! I'm SERIOUSLY EXCITED!!
JT_daniel
27/10/2010 13:18:00
0
It sounds good to me...£5 million or so sounds modest but in the long term we should be more competitive with the regular funds. Also it should mean we stay where we belong in the Premier League.
ITSALLROVER
27/10/2010 14:56:00
0
Hi, i'm a Chelsea supporter based in Bombay, India. Thought i'd share this article link just for your info (on the Venky's deal) : http://www.moneylife.in/article/4/10406.html
ZeeNut
27/10/2010 15:43:00
0
Sorry if it throws a bit of cold water on the celebrations. Wish you guys all the best, nevertheless.
ZeeNut
27/10/2010 15:46:00
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