League Championship Blackburn Rovers Owner Venky's Lost More Than $43.3M In '12-13
Indian poultry conglomerate Venky's, which owns League Championship club Blackburn Rovers, has revealed annual losses of more than £27M ($43.3M), according to the PA. The accounts cover the period from April '12-March 31, "during which time Rovers were relegated from the top flight after 11 seasons." The overall losses totaled £27.1M and showed "significant decreases in gate receipts, sponsorship and broadcasting rights which laid bare the effect of demotion from the Premier League." Venky's owns 99.9% of Blackburn and the accounts noted the "need for the club to both comply with future Financial Fair Play regulations while also doing their utmost to return to the Premier League" (PA, 9/19).