The accounts reveal there are two loans outstanding to the EFL: one of £389,400, which is repayable in four equal half yearly instalments from October 2022, and the second of £5.5m, which is repayable in four equal half yearly instalments from August 2022.
#Rovers debt rose £11m from £152m to £163m, comprising £144m owed to Venky's, a £12m bank overdraft and £6m loan from the EFL. The owner's debt increased by £14m, while the external loans were reduced by £3m.
Rovers' statement read: “In response to recent speculation regarding its finances, the club wishes to reiterate that it has received all the necessary undertakings from the parent company, VHPL, as it always has done, to be able to meet its financial obligations for the foreseeable future, in satisfaction of all the ...
According to the Daily Mirror, the V H Group has an estimated net worth of £1.56 billion. Despite this wealth, Blackburn's owners have not opted to spend a considerable amount of money on players in comparison to some of the club's Championship rivals.
According to Capology, they have estimated that Blackburn's average weekly wage for a player in the 23/24 squad is £5,322, with the club paying £133,038 per week in wages.
Are Venky's Ruining Blackburn Rovers? 2016/17 Finances Explained
How many fans does Blackburn hold?
The ground is an all-seater venue that holds 31,367 fans. The biggest stand in the ground, the Jack Walker Stand, is home to 11,000 supporters and is one of three Stands that were redeveloped in the early 90s.
Despite making just one goalless appearance as England failed to progress past the Euro 1992 group stages, Shearer was soon subject to an English transfer record-breaking £3.6 million bid from Blackburn Rovers.
According to the Daily Mirror, the V H Group has an estimated net worth of £1.56 billion. Despite this wealth, Blackburn's owners have not opted to spend a considerable amount of money on players in comparison to some of the club's Championship rivals.
Former Labour politician Jack Straw is a famed supporter of the Championship club. Straw was a long-serving MP for Blackburn and was home secretary under Tony Blair between 1997 and 2001. Another ex-politician that loves Rovers, Tim Farron is the former leader of the Liberal Democrats.
Rovers as a club have been consistently open about the testing financial circumstances and have made it clear that around £1million of debt will be carried into the next financial year, with the likes of HMRC, the players and the EFL owed money due to grants and deferrals..
The British government's debt is owned by a wide variety of investors, most notably pension funds. These funds are on deposit, mainly in the form of Treasury bonds at the Bank of England. The pension funds, therefore, have an asset which has to be offset by a liability, or a debt, of the government.
Government has been able to borrow to meet its spending needs, including during the financial crisis and the pandemic. Over this period, the Bank of England has become the largest holder of government debt through its quantitative easing (QE) programme2.
Who owns UK Debt? The majority of UK debt used to be held by the UK private sector, in particular, UK insurance and pension funds. In recent years, the Bank of England has bought gilts taking its holding to 25% of UK public sector debt. Overseas investors own about 28% of UK gilts (2022).
Since the Walker family sold the club in 2010 to the Rao family -- the owners of Venkateshwara Hatcheries, an Indian conglomerate of businesses related to the poultry industry, better known as Venky's -- Blackburn Rovers have, at times, been a laughing stock and an example of how a football club should not be run.
John Lewis Born 30th March 1855, was a coach builder & promoter of the Temperance Movement. He founded Blackburn Rovers Football Club in 1875 & played in their first match.
1. Mohsin and Zuber Issa, 05/07/71 and 28/06/72 - Blackburn - take the top slot as the richest businesspeople in the North West. Higher fuel prices have put a tiger in the tank of the Issa brothers' petrol retailing empire. Sales at their Blackburn-based EG Group grew by 16% to £23.9bn in 2022.
Mohsin and Zuber Issa, who share a £5bn fortune, according to the latest Sunday Times rich list, grew up in a terrace house in Blackburn and started their empire with one petrol station in nearby Bury after working in their father's garage.
Before his death, Walker had put in place a family trust structure to own his various business interests, including the club. Blackburn Rovers were sold by the Jack Walker settlement in November 2010 to Venky's.
