New Rovers bid

Venkatesh Rao and Balaji Rao: Venky's have been the target of abuse from fans since taking over

'A credible and well-funded proposition' is being prepared to buy-out Blackburn Rovers owners Venky's.

Seneca Partners, a corporate finance and capital raising company which is operated by Rovers fans Ian Battersby and Ian Currie, are considering a takeover bid for the stricken club.

Venky's have come under increasing fire since Blackburn were condemned to Premier League relegation, but they have insisted they remain committed for the 'long haul'.

Seneca, though, have been approached by former Accrington Stanley chairman Ilyas Khan in the attempt to formulate a plan to help the Ewood Park outfit out of their current problems.

A bid has yet to be submitted, but a statement from Seneca published by the Lancashire Telegraph, said: "There is nothing more to say at this point, other than we are acutely aware of the difficult state the club currently finds itself in.

Excellent effort

"The economic impact on the town, its surrounding areas and the local population dictates that action needs to be taken in short order to reverse the recent sequence of events.

"Bringing together a credible and well-funded proposition is the ambition.

"We are also aware of the excellent effort made by the fans trust and recognise clearly Rovers' status as a club of the town and its fans.

"We do, however, wish to stress that nothing has been formalised with any party and certainly not with the current owners.

"The statement intends to reassure Rovers fans that the club's immediate future and heritage will not be easily relinquished."