BLACKBURN Rovers will unveil plans to convert Jack Walker's loans into shares at next week's AGM in a bid to safeguard the club's financial future.

In an exclusive interview with the Lancashire Evening Telegraph, Jack Walker's Jersey-based solicitor Paul Egerton-Vernon has revealed the proposals will put the club on a more stable footing if they are given the green light.

And, the man who chairs the board of the holding company now responsible for looking after Rovers' affairs, has also not ruled out floating the club at some point in the future -- if Blackburn were to get back into the Premiership.

Walker has funded the club with a series of loans over the last 10 years.

But a motion will be put to shareholders next week whereby those loans will be converted into shares.

"One of the things we are looking at is to provide a more stable funding for the club," said Egerton-Vernon.

"We are looking at converting some short-term loans into long-term funding by switching the loans into shares.

"So one of the things we aim to put before the AGM is a reconstruction of the capital of the club so it has more long term capital than it does at the moment.

"I think that gives you an idea of the long-term commitment the shareholders have towards the club."

Chief executive John Williams has hailed the proposals as an indication of Walker's long-term commitment to the club.

"What this means in lay-man's terms is that Jack Walker was in it for the long term," said Williams.

"He instructed his shareholders in Jersey that he wanted to continue supporting the club and this gives us greater financial strength.

"Loans are always repayable but this is an exact statement of Jack's intent.

"It underlines Jack Walker's long term commitment and it would give us a stronger balance sheet."

In a frank interview about what the future holds for the club in the wake of Walker's death, Egerton-Vernon has revealed the prospect of floating the club is still a real possibility.

And, if promotion is achieved, then Rovers could follow the examples of Leeds United and Liverpool by looking to link up with a media investor.

"As a relatively small town, in footballing terms, we've got to box clever and try and raise our profile in ways that the Arsenals and Chelseas don't need to," said Egerton-Vernon.

"So we have to constantly look for ways of raising our profile to attract players to help us achieve our objectives."