Indian poultry group Venky’s is nearing a deal to buy top-flight English football team Blackburn Rovers.
The VH Group, popularly known as Venky’s, said today (26 October) that it expects to seal an agreement to buy Blackburn, which plays in the country’s Barclays Premier League.
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Venky’s chairperson Anuradha Desai said: “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.”
Blackburn’s was put up for sale in 2007 by current owners The Walker Trust, which was set up to oversee the business interests of the club’s former owner Jack Walker, a steel and airline tycoon, who died in 2000.
The club has failed to attract the overseas investment injected to many of its Premier League rivals but speculation has about its future ownership has intensified since the summer.
UK reports said Blackburn had received two separate expressions of interest from Indian businessmen – Saurin Shah and Ahasan Ali Syed – but neither party secured a deal.
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By GlobalDataHowever, Blackburn chairman John Williams said he was hopeful that a deal with Venky’s could be secured next month. “A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process. Both parties are hopeful that the transaction will be completed in November.”
