Kieran Maguire: £7m Blackburn Rovers twist could challenge club's future
Blackburn Rovers will be ‘worried’ about the future of their club after their owners had properties seized as part of a tax dispute.
That is the view of finance expert Kieran Maguire, who explained to Football Insider that the Venky’s dispute in India could be a ‘storm in a teacup’ or a threat to Rovers’ future.
As revealed by the Indian Express last week, Blackburn owners – the Venky’s – had £7million worth of property seized as part of an ongoing tax dispute in India.
The Venky’s bought a majority stake in Blackburn in 2010 for £53million and have poured over £140million into the club during their 13-year span as owners.
The Venky’s are under investigation for money used to purchase a luxury house in Lancashire in 2011 which is just 13 miles from Ewood Park.
Maguire believes that the hierarchy at Blackburn will be closely monitoring the situation amid worries that it could threaten the club’s future.
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“I think the hierarchy at Ewood Park will be a little bit worried,” Maguire told Football Insider’s Sean Fisher.
“They are historically used to calling up the Venkys whenever cash has been needed.
“And, if we’re honest, that cash has been needed every year since the owners acquired the club.
“They will be monitoring events taking place in India in regard to the properties that have been seized.
“This could be a storm in a teacup or it could be indicative of a more systematic challenge as far as Blackburn’s future is concerned.“
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