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."
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