Blackburn Rovers have confirmed that the club has been sold to Venky’s London Limited for £23million.
With Rovers having experienced financial difficulties in recent times, it is hoped that the takeover will breathe new life into the club and allow them to remain competitive in the Premier League.
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 are delighted to have completed the purchase of Rovers and believe they can take the club forward.
Anuradha J Desai, chairperson of Venky’s, said: “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, 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.”