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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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The Journalist

Writer: Mikey Delap Mail feedback, articles or suggestions

Date:Wednesday October 27 2010

Time: 8:53AM

Your Comments

All getting a little bit exciting now isn't it?!
Mikey Delap
amazing. sure its only 6 mill pounds.However, we will be debt free, sustainable and have a platform to build on!
sasman
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
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
It is the best international code going Sas!!!
Mikey Delap
oh thats ur land lol pfft....il just email then :D
sasman
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
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
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
Sorry if it throws a bit of cold water on the celebrations. Wish you guys all the best, nevertheless.
ZeeNut
Thanks for the link Zeenut, and it only confirms my thoughts, Very Cautious!
glen9mullan
not over the moon about this.. from what I am hearing it looks as though it is going to be a poor takeover..
rover23
Suddenly I dont like the sound of this at all....only 5 mill...and the chairman says that we "can always loan players. Disturbing news indeed.
redstarman
"This is an investment and it will grow on its own strength." "We won't need to buy expensive players, we can always lease (loan) them." "We don't expect to be in the top five of the Premier League. We will be happy to be in the top 10-12." Sorry for the dobbelt post..but come on!!!!!!!
redstarman
Ambitious new owners give chickfeed transfer budget for Rovers' January window. 5M?! Quite pathetic, can't expect any significant changes with this kind of new owners. Happy with 10 or 12th place, we already achieved 10th place without any investment last season. It's pathetic, why are we being sold to this chicken farmer from Indian with no real ambition to strengthen BRFC?
metalrover
Maybe this is a shrewd move. We are going to be quoted ridiculous prices if we start saying we have unlimited funds come january like 17.5 million for 1 game santa cruz. If we have a decent business plan then at least the new owners wont do a runner after 1 season leaving us with massive debts
del
Plus i think the reason we did not take Raul or Guti in the summer was because we didn't have the money for wages. If new owners allow us to increase the wage budget instead of firing huge amounts of money at transfer fees then we could bring in a lot of experienced marquee signings like these 2 which would then attract better crowds which then would allow us to spend more on transfers. Anyway i am sure JW will have the best interests of the club at heart before chosing a buyer
del
Metalrover, i am not an expert, but i have tracked Venky's as an investor occasionally over the years, and i feel that they are pretty decent at their poultry business. But that may not make them a good footy team owner.
ZeeNut
Still think this is fine... there is only one Jack Walker and we will never get an owner like him. The likelihood is thatr the current staff that run Blackburn will all still be the same... surely that means they must know what they are doing?
Mikey Delap
just heard they may rename ewood park.. outrageous
rover23
Come on now. It's all about generating income. Even if it is renamed, we the loyal fans will still know it and refer to it as Ewood Park. The current board have had the matter of renaming under consideration for a number of years anyway.
onlyonetugay
We been waiting for a takeover for ages, in hope of a new owner who can take Rovers to a whole new level, to compete with the bigger clubs in the prem and in europe. But it seems that our new barn buddy owners is pretty happy with mid table finish, something we already achieved last season. The takeover does do some good for Rovers, i must admit, but is that enough? We never needed to sell our stadium's name without any investment, now after investment, we end selling our beloved 'Ewood' to raise funds. So what the ***** did the investment benefit us? Disappointed and gutted at hearing such news even before the takeover completes. These Indian pig farmers are here for profits, football can never become as big as cricket in India.
metalrover
Metalrover, believe me in Indan cities Football IS big !! You will see youngsters wearing the club shirts of Chelsea, ManU etc. The reason that football (and the EPL) is getting more & more popular is because we get matches live on ESPN & STAR Sports at no extra cost, it comes in out cable package with is 300 rupees (4 pounds) a month.
ZeeNut
metalrover- you'll eat your words mate. If Rovers sell 20,000 shirts, they earn close to 500,000 quid. That's like 10% of the kids in one city. Do the math. There's a commercial gold mine here, with proper marketing, it could be very rewarding.. Clubs like Chelsea and United will be watching very carefully, though. Whatever approach Venky's will take (which will undoubtedly be succesful, given that they understand Indians), they will copy.
JT_daniel
 

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