City-based Venkateshwara Hatcheries (VH) group today announced the acquisition of English Premier League (EPL) club Blackburn Rovers at a total deal value of 54 million pounds
"The transaction consists of payment of 20 million pounds for purchase of shares of the club and takeover of 16 million pounds debt. In addition, the VH group has also invested 10 million pounds into the club and another five million pounds will be invested soon," a company press release said here.
A sum of three million pounds would be paid to Jack Walker settlement trustees, the previous owners of the club over the next three years, at one million pounds each year, it said.
The company announced its support to the existing management of the club.
"The present management of the club is doing a good job and it will be fully supported by the VH Group. Any decisions that may be taken in future will be taken in the best interest of the club," the company said and appealed to football fans in India to support the team.
