Blackburn Rovers legend Kevin Gallacher has welcomed the prospect of new investment at Ewood Park but insists the ‘old guard’ need a role in the club’s future.

Indian businessman Saurin Shah is leading a Mumbai group who have made an official bid to buy Rovers from the Walker Trust and Gallacher believes that, with little known about the potential investors, they deserve the benefit of the doubt for the moment.

The ex Rovers striker, who helped them lift the Premier League trophy in 1995, fears with their current limited finances Rovers are inevitably fighting a losing battle - warning relegation will eventually happen without any injection of cash.

He does though believe the hierarchy in place at Ewood at the moment deserve huge credit for keeping Rovers competitive in difficult times and insists there should not be too much change at the top.

He said: “Any investment would be fantastic news for the club. If we are going to stay in the top 10 or better for the forseeable future then extra money is needed and that means new investors.

“The Walker Trust has been trying to sell up for a few years now and, apart from the American Dan Williams, we haven’t heard of much serious interest. Let’s hope this is just that.

“Whatever happens though, what is important is that the club doesn’t lose its identity and its family feel. People like John Williams and Tom Finn, the entire board really, have made massive contributions over the years and we need people like that to stay.

“I am sure any potential buyer would recognise that as well. You would be a fool to get rid of the men who have made the club so successful and who have got the club where they are.”

Shah’s Rovers’ interest is far from a done deal though, with other interested parties also believed to be monitoring the situation and negotiations still going on.

And Gallacher is confident the club’s owners would only sell to the right people, assuring supporters their football team is in safe hands.

He said: “There is a huge Asian population around the place and unfortunately, despite many efforts, the club haven’t really been able to grab a hold of it.

“If the Indian group are successful and can do this then there is huge potential for the club. It could increase attendances and increase its profile.”

Another Rovers Premier League winner, winger Jason Wilcox, has echoed Gallacher’s views - insisting a cash injection would be good but not at the expense of the club’s tradition.

He said: “The only concern I would have is the danger of Blackburn Rovers losing its identity. Jack Walker is this club and we can’t ever forget his legacy.

“We need to push on but we also need to keep our tradition. Jack and his family have had such a big role we can’t forget them.”