THE front page headline in the Lancashire Evening Telegraph of January 17, 1981, simply read 'Blitzed'.

It referred to the launch of bombing attacks on Iraq at the start of the Gulf War.

Another event, which exploded on the world of East Lancashire sport, would have dominated the news agenda on any other day -- Jack Walker announced that he had bought Blackburn Rovers.

And the prophetic message on the back page of that night's paper read: Soccer sensation could put Blackburn back on terms with the big boys.

In fact, Walker's involvement not only put Rovers on a par with the likes of Manchester United, Arsenal and Liverpool, the club briefly climbed to the top of the tree as a result of the millionaire's spending revolution.

The power of Walker's cash had actually already been felt at Ewood Park before January 17.

The previous club transfer record of £80,000 had been smashed to pay £250,000 in bringing in Bobby Mimms from Spurs to help stave off the threat of relegation from the then Second Division.

Then, almost immediately, Steve Livingstone and Tony Dobson arrived from First Division Coventry in a £700,000 package.

It was clear the goalposts had shifted.

Walker's purchase of a controlling stake had handed Rovers the kind of spending power that had previously only been dreamed of.

Under Don Mackay, who made a cheeky bid to buy Gary Lineker, the team managed to avoid the drop but results did not show a marked improvement the following season and Mackay paid the price.

Walker needed a high-profile appointment to spearhead his ambitious plans to put Rovers at the top of the domestic pile.

And Kenny Dalglish, in self-imposed retirement after quitting as manager of Liverpool, was appointed on October 12, 1991.

The results were startling and Rovers shot towards the top of the league, only to stutter badly at the crucial time.

However, a play-off place was secured and Rovers achieved a crucial place in the new Premiership via a Wembley play-off, when a Mike Newell penalty was enough to see off Leicester City at Wembley.

It was during that summer when heads in the national media started to turn towards the new kid on a previously exclusive block.

Dalglish secured the signature of the hottest property in English football, Alan Shearer for a British record transfer fee of £3.3 million.

Consequently, Rovers made an amazing start to life in the Premiership, finishing fourth, reaching the semi-final of the League Cup and the sixth round of the FA Cup. Walker was clearly not satisfied and sent more shockwaves through English football with the signing of Chris Sutton for another British record fee of £5m from Norwich.

Dalglish was rapidly assembling a formidable squad with the acquisitions of Tim Flowers, Henning Berg, Graeme Le Saux and David Batty.

And Rovers went from strength to strength and, having almost clawed back a huge Manchester United points lead after Christmas, were unable to overtake them in the closing stages and finished as runners up.

They had, however, proved their credentials as credible title contenders.

The theory was put into practice the very next season.

Using a tried and tested formula of out-and-out wingers providing the ammunition for Shearer and Sutton -- the dreaded SAS -- Rovers motored to the top of the Premiership.

As glory beckoned, however, there were signs that the jitters had set in and the title was still in the balance going into the final game of the season at Anfield. Though Rovers lost 2-1, their rivals Manchester United were only able to draw 1-1 at West Ham, meaning the title had come to Ewood by a solitary point.

Walker shed a tear in the Liverpool directors' box and led the victory celebrations in Liverpool, through the streets of Blackburn and at Ewood Park the following night.

The challenge was then to keep Rovers at the top of the pile but Walker was rocked during the summer of 1995 when Dalglish opted to take a step away from team matters, into a new role of director of football, amidst rumours that spending proposals had been denied.

Ray Harford took over team matters but the club struggled in their Champions' League adventure and could only finish seventh in the league.

And the shape of the transfer market had also altered, as the Bosman ruling swung the balance of power back towards the clubs able to sustain high wages, as opposed to relying on more short-term capital outlays.

After a poor start to the 1996-97 season, Harford quit in October.

But Walker's desire to regain success was underlined by the announcement of Sven Goran Eriksson, now the England coach but then with Sampdoria, as a replacement.

However, the Swede had a change of heart and Tony Parkes was successful in avoiding relegation while the club waited for Roy Hodgson, a former manager of Switzerland and then with Inter Milan, to take up his duties.

Hodgson led Rovers back into Europe but, when more high-profile signings like Kevin Davies at £7.25m from Southampton, failed to deliver the goods, Hodgson paid the price with his job in October 1998.

Brian Kidd was the next high-profile appointment but could not avoid the drop.

The personal hurt for Walker was there for all to see as more tears, this time of sorrow, were again shed in view of the national television cameras.

And the former Manchester United assistant failed to turn fortunes round in Division One in Walker's bid to retain elite status at the first opportunity.

He, too, lost his job and, after another delay during which Tony Parkes again took temporary control, Graeme Souness was handed the task of restoring former glories.

Time had run out for the Scot to achieve promotion at the first time of asking.

And, sadly, time also ran out for Walker in August last year, with Souness in the early stages of his bid to regain Premiership status at the second time of asking when the tycoon passed away.

Whatever the short-term future holds, Walker's huge investment has transformed both the history and the future of a proud club.

For, while many will choose to remember the Walker years through the multi-million pound player deals, his legacy will live on through magnificent new facilities at Ewood Park and Brockhall.

And the state of the art youth academy could yet prove one of his most profitable investments as Rovers bid to turn recent struggles into a repeat of recent excellence.