Rovers Trust acquires stake in football club
The Rovers Trust, a supporters group formed to attempt a takeover of Blackburn Rovers FC, has succeeded in acquiring a minority stake in the club.
Supporter Stephen Halstead has donated part of his family’s shareholding to the trust for a nominal sum.
Rovers Trust is now one of the main minority shareholders in Blackburn Rovers and will use its position to enable its financial experts to monitor the governance of the club and ask questions at the appropriate meetings.
Rovers Trust has a short term aim of becoming the second largest shareholder in Blackburn Rovers, which is currently Blackburn With Darwen Council, through further donations from minority shareholders, of which there are around 340.
In the medium to long term, Rovers Trust aims to take a significant stake in Blackburn Rovers to ensure proper supporter representation in the running of the club.
Dan Grabko, finance officer for the Rovers Trust, said: “We are tremendously grateful to Stephen for contributing a part of his family’s shareholding. We understand this is a decision made with consideration and care.
"If other minority shareholders will donate their shares, in full or in part, to the trust we can build up a stake in the club that will always be in the hands of supporters. The Rovers Trust will be the long-term repository of shares and will always use its position to legitimately question the running of Blackburn Rovers, on behalf of the supporters whoever owns the club."
Blackburn Rovers is currently owned by Venky's, which is headquartered in Pune, India. The company bought the club for £23m in November 2010 but has overseen a tumultuous period at the club so far.
The team was relegated from the high-earning Premier League last summer and has recently flirted with a second consecutive relegation to the third tier of English football.
