Blackburn fans launch bid to buy troubled club
Wednesday 22 February 2012
Blackburn fans have launched a new share investment scheme in a bid to buy the club from owners Venky's.
The Blackburn Rovers Supporters' Investment Trust, which has been created with the aim to bring the club into community ownership, is being spearheaded by Wayne Wild, director of WEC Group, a commercial partner and sponsor of the Barclays Premier League side.
The plans are being backed by the fans' group that organised the protests against the current owners, an Indian-based poultry and pharmaceutical firm, and manager Steve Kean.
Blackburn narrowly avoided relegation last season and have continued to struggle this term, causing major protest by fans on match days.
They blame Venky's and Kean for the club's demise, with Rovers currently one place above the relegation zone, thanks only to goal difference.
In light of this, Wild believes the newly-created trust is a viable option to bring the club under fans' control.
"At some point, and maybe soon, we believe Blackburn Rovers will be put up for sale," Wild said.
"We believe the best ownership model for Blackburn Rovers is to be entirely owned by the supporters through a trust.
"We are seeking to engage with the current owners to advise them of our plans and we ask that they consider our proposals seriously as a credible and respectful way to pass on ownership of the club.
"At this stage we are asking Blackburn Rovers supporters if they would be willing to buy a share in their club. The more fans who pledge to buy a share, the stronger and more credible our bid will be.
"We will raise funds to buy the club by issuing a sufficient number of shares to meet a realistic valuation at the time of purchase.
"It is clear that any fair and realistic valuation will be based on the position of the club within the league structure at the time of purchase together with a true assessment of the clubs assets and liabilities.
"It is not, therefore, possible at this stage to put an exact figure on the amount of capital we will need to raise to be successful."
Latest in Sport
Paul Scholes: Emirates was the easy option for Mesut Ozil. He needs a leader - and Arsenal don't have them
Police want right of veto over 'high risk' Friday night fixtures in wake of new Premier League TV deal
Gareth Bale reveals the two things he hates about Real Madrid: 'Getting nutmegged and Spanish spiders'
Frank Warren column: Amir Khan ready to meet winner of Floyd Mayweather v Manny Pacquiao
Cristiano Ronaldo shows off his dance moves, including the moonwalk
- 1 What happens to your body when you give up sugar?
- 2 Tourist films plane's descent just metres above packed Caribbean beach
- 3 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 GamerGate: developer Tim Schafer provokes rage with joke about online gaming activists at industry awards
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'