venky s | Venkys plan Blackburn takeover

venkys, venky s india, blackburn rovers, blackburn rovers takeover

LONDON (AFP) – Blackburn Rovers are in takeover talks with Indian company Venkys and hope to complete a sale next month, the English Premier League side said on Tuesday.
Blackburn chairman John Williams said in a statement on the club’s website that a series of meetings between officials from Rovers and Venkys had already taken place as well as an “extensive” due diligence process.
“Both parties are hopeful that the transaction will be completed in November,” Williams confirmed.
Venkys chairwoman Anuradha Desai said in the statement the company was looking forward to becoming the first Indian owners of a Premier League team.
“We expect to be the first Indian company to acquire a Premier League team and we are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions,” Desai said.
Venkys main industries are poultry farming and pharmaceuticals.
Rovers have been scouring the globe for a potential buyer for several months and manager Sam Allardyce last week said he was looking forward to the prospect of new investment into the team.
“The club has been for sale for some time and new investment would be most welcome,” Allardyce said.
“Investment is needed at every football club and investment here has dried up somewhat because of the club being up for sale.
“We have a strong base at Rovers, a very good club which is run and managed very professionally indeed. Blackburn Rovers has a strong history and it could have a bright future given the right sort of investment.”
Established in 1875, Blackburn were one of the founding members of the Football League.
They were also the last club from outside the established big four of Manchester United, Arsenal, Chelsea and Liverpool to win the Premier League, lifting the title in 1995.
They are currently lying just above the relegation zone in 17th place.

Source: Yahoo News

Posted by musicking on Oct 26 2010. Filed under Business news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry