Thames Sports Investment

[Royal Rother]

Could all be BS PR of course but on the face of it that is an extremely reassuring statement from TSI.

Nice one.

[leww_rfc]

Actually loving all this a bit too much

[chilipepper91]

Could all be BS PR of course but on the face of it that is an extremely reassuring statement from TSI.

Nice one.

Interesting about Madejski chairman until "at least" 2014 - potentially then we could see a full takeover, depending on our success in the "trial period". Maybe the plan is to get Reading to the Premier League before then as one last hurrah from the Madman.

[NR_Royal]

This line gives me a hard-on:

"Providing Reading Football Club with some limited funding now to enable Brian McDermott and Nick Hammond to strengthen the playing squad during this January transfer window. TSI have met with Brian, Nick and the club to begin this process."

[Friday's Legacy]

Could all be BS PR of course but on the face of it that is an extremely reassuring statement from TSI.

Nice one.

Interesting about Madejski chairman until "at least" 2014 - potentially then we could see a full takeover, depending on our success in the "trial period". Maybe the plan is to get Reading to the Premier League before then as one last hurrah from the Madman.

chairman's have remained in place after a full takeover, so it could come sooner than that. it'll be interesting to see what % the new co-owner has acquired and what his personal worth is as well.

[The Prisoner]

As the point has been made before: We don't have money: BOO! We have money: BOO!

With JM retaining his interest in the club and the team retaining it's management structure it is so far so good.

If JM was walking away I'd be worried, but he has our best interests at heart and I trust him.

Onwards and upwards pls. Enjoy the ride.

[TBM]

Whoooooohoooooo

Maybe now we can sign Drew Roberts from Bedford

[Scylla]

Seems odd to put up money for transfers ahead of due diligence?

Will the 'fit and proper persons test' apply?

[1871 Royal]

I wonder who will partner Rhodes up front?

ALFie obviously

[Friday's Legacy]

Seems odd to put up money for transfers ahead of due diligence?

Will the 'fit and proper persons test' apply?

yes it does apply. the club and john madejski are obviously very confident everything is as it should be and now just a formality.

[Here for the KEBE]

So basically we need an attacking midfielder and tall but skillful striker, both of whom will help get the best out of Le Fondre - turf out Tabb, Hunt and Howard to free up the wage structure for the coming transfers!

[Archie's penalty]

Venky's announcement on taking over Blackburn:

http://www.venkys.com/general/blackburn ... -takeover/

Blackburn announce completion of Venky’s takeover


The Board of Blackburn Rovers Football and Athletic plc (BRF&A) today announces the sale by BRFC Investments Limited (a company indirectly wholly owned by the Jack Walker 1987 Settlement) of its 99.9% shareholding in BRF&A to Venky’s London Limited, a newly formed company owned by the Rao family of India for a sum (including contingent consideration payable) of £23 million or 17.17 pence per share. Venky’s London Limited will be making an equivalent unconditional offer (mandatory under the Takeover Code) to the minority shareholders, holding the remaining 0.1% of the shares in BRF&A.
The Rao family have an extensive range of business interests in India and elsewhere in the world including their flagship company Venkateshwara Hatcheries Private Limited, the parent company of Venky’s (India) Limited which is listed on the Bombay Stock Exchange.

Paul Egerton – Vernon, Chairman of the Jack Walker Settlement Trustees said:

“We are very pleased to be passing on the Rovers to the Rao family. We have been impressed with their enthusiasm for the Club and their plans and ideas for future investment to develop it further as well as their wish and commitment to preserve the legacy of Jack Walker. We are particularly pleased that the Club will continue in family ownership and that the existing management team at the Rovers led by John Williams will continue unchanged. We would like to express our gratitude and admiration for the great job John and his team have done for the Club whilst it has been part of the Trust.

“Over the last 10 years, the global appeal of the Premier League has grown significantly and it is only natural that, as we have seen at other Clubs, international ownership and investment should increase.”

Anuradha J Desai, the Chairperson of Venky’s, said:

“We are delighted, proud and humbled to be associated with Blackburn Rovers, a team with whom we share many values and ambitions. Going forward we plan to focus on leveraging the global influence in establishing Blackburn Rovers as a truly global brand. We will absolutely respect the Jack Walker legacy and will be actively supporting the organisation to ensure that Blackburn Rovers remains one of the best run Clubs within the Premier League. We are particularly pleased that the deal has the full support of the Walker Trust, the Chairman and the management team who will of course remain in place with our full support.

“Blackburn Rovers is an historic institution that has won the Premier League and we want the fans to embrace us so that we are able to do our best in the interests of the Club.”

Mr. Venkateshwara Rao, Joint Managing Director of Venky’s said:

“We are all truly honoured to be working with such an historic club and are committed to creating a long-term financial platform which the Club can use to realise its obvious potential on and off of the field. It is as a team that this Club has succeeded in the past and it is as a team that this Club will achieve great things in the future.”

The Whole Time Director of Venky’s, Balaji Rao also added:

“We see real sustainable growth for the Club moving forward, both within the UK and also internationally and we intend to exploit our in-depth knowledge of the Indian market in particular, and beyond that, the whole of Asia. Blackburn Rovers fans will be delighted to add to the family a huge Indian and Asian fan base. The immediate future will be spent with the key figures at the Club from the Chairman and the management team right through to the players and Club staff working with them to ensure that we move forward as a team.”

John Williams, Chairman of BRF&A said:

“The successful conclusion of the deal is clearly a significant event in the history of the Club. It represents the end of the remarkable Walker era, which saw Rovers projected to the top of the football pyramid. In the 10 years since Jack’s death the Board and Trustees together have managed to build on Jack’s legacy and preside over the Club’s longest term in the top flight since 1936.

“The Rao Family pursued the opportunity with determination and enthusiasm. The Board will remain focused on what it does, providing important stability, a platform from which the new owners will be able to launch new ideas, particularly in markets outside the UK.”

BRFC Investments Limited was advised by Rothschild and Addleshaw Goddard LLP. Venky’s London Limited was advised by Hammonds LLP.

[PremAddict]

Any confirmation on who TSI is? Too many pages on this post to check.

If it's that Russian paper tycoon, then I wouldn't expect loads of cash (300b net worth?), which makes the "prudent" statements of the TSI announcement more reflective of what will actually be available.

[Libertine]

Very interesting. I hope they are football savvy. We have a good business model, a great front office and coaching staff, and all that is needed is a couple prudent signings to be on our way up. I hope we don't become Leicester redux...

Overall I will view this as a positive development until facts tell me otherwise.

[Uke]

Why didn't Kenwright sell to him? Do we know?

Here is some background

http://en.wikipedia.org/wiki/Bill_Kenwr ... ports_Fund

[Man Friday]

I believe that SJM wants his loans back. I've said all along this would happen and was why he wa struggling previously to find a buyer. In the end everyone lets you down.

[Ian Royal]

cautiously optimistic having read all that. A bit concerned and saddened at the same time. This could be a very good thing, but it also could be dangerous for us.

[TheMaraudingDog]

Wow. Some very divvy and excitable clueless Reading fans out there.

Im actually very at the lack of caution being shown here.

More often than not new owners coming in with promises leave the club in the shit.

[Emmer Green Royal]

According to Wikipedia (so it must be true):

On 21 January 2012 it was announced that John Madejksi had relinquished control as Reading FC chairman, as he had sold the club for £40m to a Russian consortium

[Drew_3]

After that you'd have to ask what the Russian for refund is!?