Businessman bids to set up fans’ trust Rovers takeover, but Venky’s insist they won’t sell (From This Is Lancashire)

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Businessman bids to set up fans’ trust Rovers takeover, but Venky’s insist they won’t sell

8:22am Monday 13th February 2012 in Football Photograph of the Author By Chris Flanagan, Sports reporter

BUSINESSMAN Wayne Wild has declared his ambition to lead a supporters’ trust takeover of Blackburn Rovers – but Venky’s continue to insist they will not sell.

Wolves’ 5-1 home loss to West Bromwich Albion yesterday meant that Rovers moved out of the relegation zone on goal difference following Saturday’s 3-2 home win against QPR, but Wild is putting a plan together in case the club are unable to retain their Premier League status this season.

The group director of Rovers’ main sponsor, WEC went public in November about his frustration at the current running of the club and intends to help set up the BRFC Supporters Investment Trust, giving Venky’s an option of relinquishing their ownership.

The group would then attempt to raise £10m with a share issue - aiming to sell 10,000 shares at £1,000 each – according to initial plans drawn up in the past few days, with help from Swedish-based American finance expert Daniel Grabko.

Venky’s, however, insisted in November that they had no intention of selling up amid interest from Qatar Petroleum.

Fellow businessmen and lifelong Rovers fans Ian Battersby and Ian Currie have also expressed their willingness to help with some sort of change of ownership should the Indian poultry company ever decide to sell.

But, asked by the Lancashire Telegraph yesterday whether their stance had changed in any way, a Venky’s spokesman simply reiterated: “We are not interested in selling the club.”

Grabko, also a supporter of the club, recently mooted an initial plan of selling 16,000 shares at £10,080 each by May 31 in order to launch a takeover.

But Wild admits that plan was too ambitious and a new proposal has been drafted, to be spearheaded by the WEC man.

Wild hopes Venky’s may accept a nominal fee to relinquish control of the club if Rovers went down, although he has so far been unsuccessful in attempts to contact them.

“It’s at the very early stages,” he told the Lancashire Telegraph.

“It would probably be after the end of the season until we could do anything, once we can see what the situation is.

“We have to be realistic and, if the club stay in the Premier League, Venky’s will probably think the club is still worth what they paid for it, and we wouldn’t be able to raise £30m.

“We had a good result against QPR but it’s three teams from five at the bottom.

“If the club is relegated will Venky’s still be interested in the club? It could go into decline.

“The club wouldn’t be worth anything so this would offer Venky’s a dignified way out because at the moment they haven’t got one.

“There’s no white horse man coming in to save Rovers right now.

“The £10m wouldn’t be towards buying the club but helping to deal with the debts.

“Could we raise £10m? Possibly. It’s about asking people now would they be interested in getting involved in this.

“There have been a few rumours about people being interested in takeovers but the only people you are likely to get interested are people who think they can make money out of it, wanting to buy it cheap and get a return on their investment.

“This wouldn’t be about getting any return on investment, this would be about giving the club back to the supporters.

“There would be no big shareholder, the supporters would own the club and a committee would be set up.

“I know Blackburn is not a wealthy town and £1,000 is a lot of money, but it’s probably half of a good holiday.

“If Venky’s say they won’t sell then we can’t force them to do, but we want to offer them a way out.”

Wild, who says the Investment Trust would also consider part ownership rather than a 100 per cent takeover if that proved more viable, recently offered to travel to India along with MPs Jack Straw and Jake Berry to discuss Rovers’ general situation. But he has so far receive no response from Venky’s.

There are plans to hand out leaflets to fans about the Investment Trust at the next home game - against Aston Villa on March 3.

And Wild says his strategy has the support of the Blackburn Rovers Action Group, who opted not to protest at the QPR game amid developments with the potential plan.

Comments(59)

Hovis1945 says...
8:40am Mon 13 Feb 12

Wow there is a turn up - a venkys spokesman!!!