GettyImages
Venky's is the largest fully integrated poultry group in Asia, but is owned by Venkateshwara Hatcheries group who have a turnover of approximately £1 billion. The conglomerate has already gone through an extensive period of due diligence and has held talks with the Premier League.
Venky's joint managing director Mr. B Venkatesh Rao said that the £46 million deal would be paid upfront and told CNBC-TV18: ''In the next ten days we will be announcing it formally.
''It's one of the very prestigious, oldest and very well run clubs. Whatever the loopholes are or whatever it is, we are there to set it up and we are looking very positive. Don't forget, this is an Indian first company. It's a prestigious moment for everybody and we should cherish this moment.''
Venky's chairperson Anuradha J 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."
Rovers chairman John Williams added on the club's official website: "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."
Manager Sam Allardyce believes a takeover will allow the club to move forwards as he looks to strengthen his squad.
"The club has been for sale for some time and new investment would be most welcome," he said last week. "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."
via ESPN Soccernet
No comments:
Post a Comment