Writer: Mikey Delap
Date:Friday November 19 2010
Blackburn Rovers have today been sold in a deal worth £43 million that includes all club debt.
Venkys have been linked with a finalised deal for weeks but at lunchtime the deed was done and a brand new era was open as fans of Rovers have waved goodbye to the Jack Walker days.
The news owners have signed a deal that will see them takeover full ownership of the club and the Rao family will be the new family to lead us into a bold future.
Rovers have had no real spending power in the last few years and today's sale is the culmination of a three year process to sell Blackburn Rovers.
Paul Egerton-Vernon, chairman of the Jack Walker Settlement Trustees, told the club's official website - 'We are very pleased to be passing on the Rovers to the Rao family. We have been impressed with their enthusiasm for the club and their plans and ideas for further investment to develop it further as their wish and commitment to preserve the legacy of Jack Walker.
'We are particularly pleased that the club will continue in family ownership and that the existing management team at Rovers led by John Williams will continue unchanged.
'Over the last 10 years, the global appeal of the Premier League has grown significantly and it is only natural that, as we have seen at other clubs, international ownership and investment should increase.'
Venky's themselves are absolutely delighted and admit they are honoured at being given the chance to carry on Jack Walker's legacy.
Anuradha J Desai, chairperson of Venky's, told Rovers.co.uk - '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.
'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.'
Mr. Venkateshwara Rao, joint managing director of Venky's, also added - 'We are truly honoured to be working with such an historic club and are committed to creating a long-term financial platform which the club can use to realise its obvious potential on and off the field.
'It is as a team that this club has succeeded in the past and it is as a team that this club will achieve great things in the future.'
After intensive screening, tos and fros, ups and downs and a cauldron of rumours the deal is sealed and we can all move forward.
Blackburn Rovers are in new hands and let me be the first to welcome them aboard.
Venky's you have a lot to prove and a lot of promises to keep but cautious optimism is the order of the day.
ARTE ET LABORE.
Date:Friday November 19 2010
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