Venkys, part of Venkateshwara Hatcheries (VH), is set to acquire the English Premier League football team Blackburn Rovers.
The £46 million deal will give the company 100% ownership over the team. "We have been in talks with the Blackburn Rovers and our directors are now in England," said VH Chairperson Anuradha Desai. "They have had a meeting with the Rovers owners. It is only a matter of seven or eight days before which the [sale purchase agreement] will be executed."
Purchasing the team is a strategic move on the part of Venkys. "It does make perfect business sense to us," said Desai. "In Europe, football is an extremely popular sport and we felt we could promote our brand through this club."
Venkys will be the first Indian company to purchase a Premier League team. "A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process," said Rovers' Chairman John Williams. "Both parties are hopeful that the transaction will be completed in November."
