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Championship club reveals massive debt as rebuild continues

BlackburnThe Blackburn Rovers fans are gathered in The Transfer Tavern around the jukebox discussing the annual financial report released by their club.

The Lancashire Telegraph is reporting that the Championship club have announced a pre-tax loss of £17.2 million for the season 2014/15.

The results are better in comparison to the previous year by £24.9 million but the overall debt the club currently has is in excess of £100 million.

Most of that £100 million is owed to current owners Venky’s who are owed £87 million in the form of an interest free loan which has no fixed date to be repaid.

Previous managing director Derek Shaw, who was speaking about the accounts for the 2014/15 season, said:

“2014/15 has been, on the whole, another season of rebuilding and strengthening in many areas of the club, all of which will provide the foundations to move forward back to our goal of returning to the Premier League.”

The Blackburn fans in The Tavern are fearful for the club’s future as they do not entirely trust the Venky’s group and worry that they could recall the debt at any time and leave the club with the real threat of administration.

Will Blackburn ever return to their previous heights? Let us know in the comments below!

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