Blackburn fans form takeover trust
A GROUP of Blackburn Rovers supporters have launched a new supporters’ trust in a bid to buy back the club from its Indian owners.
The Blackburn Rovers Supporters Investment Trust was launched yesterday led by local businessman Wayne Wild, whose Darwen-based company WEC has been a club sponsor for the past four years.
Mr Wild has enlisted the support of prominent fans including finance expert Daniel Grabko, local MPs Jack Straw, Graham Jones and Jake Berry, Blackburn with Darwen council leader Kate Holhearn and Sir Bill Taylor.
The aim of the trust is to create a mutual society whereby the club is run for the benefit of its fans. A working party has also been formed containing legal and financial advisors who could help to form a bid.
Wayne Wild said: “At some point, and maybe soon, we believe Blackburn Rovers will be put up for sale.
“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.
The trust is asking supporters to buy a share in the club, arguing that the more fans who pledge to buy one the more credible its campaign becomes. A working party has also been set up consisting of supporters with legal and financial expertise who have volunteered their support to the trust.
The trust is also seeking support from people with IT and marketing experience.
“We believe Blackburn Rovers will be best run by as many shareholders as possible having an equal say in the ownership of the club,” said Mr Wild.
“We are not ruling out any alternative fundraising options and would welcome dialogue with any interested funders, large or small. However, the aim of the trust is to establish a truly democratic ownership model, which can be independently monitored and held to account by the people who really matter – Blackburn Rovers supporters.”
Blackburn Rovers’ recently-filed accounts for the year to June 30, 2011 showed that the club declared a pre-tax loss of £18.6m on static turnover of £57.6m.
The club’s current owners, the family behind Indian poultry firm Venkateshwara Hatcheries, have previously indicated that the club is not for sale.
A spokesman for Blackburn Rovers declined to comment.
