Legal threat hits Blackburn’s new Indian owners | Pakistan Today

Legal threat hits Blackburn’s new Indian owners

MUMBAI – The new owners of English Premier League side Blackburn Rovers, Indian poultry firm Venky’s, are facing a claim for more than five million dollars for allegedly reneging on a proposed joint venture deal. Mumbai-based businessman Saurin Shah told AFP he had issued a legal notice to the firm over a proposed tie-up for the Blackburn bid between Venky’s and his investment firm, Qubic Group.
The notice alleged that Venky’s, which completed the deal in November for 23 million pounds (30 million dollars), was liable for the equivalent of a 24 percent stake in the club, as agreed in early talks between Venky’s and Qubic.
Shah’s lawyers wrote to Venky’s parent company Venkateshwara Hatcheries Group on Dec 22, threatening legal action unless payment was made within 7 days. The correspondence claims that Venky’s successful bid for Blackburn was the result of work put in by Shah, who was therefore entitled to payment



Related posts

Top