Khan: I am prepared to help Blackburn Rovers takeover plans (From Lancashire Telegraph)

Khan: I am prepared to help Blackburn Rovers takeover plans

11:50am Saturday 12th May 2012 in Blackburn Rovers Relegation By Chris Flanagan, Sports reporter

FORMER Accrington Stanley chairman Ilyas Khan says he would be ‘honoured’ to help a local consortium take control of Blackburn Rovers – if Venky’s decide they want to sell.

Khan provided the funds to rescue Stanley from winding up proceedings over an unpaid £308,000 tax bill in 2009 but stepped down as chairman at the club’s annual general meeting last week.

A lifelong Accrington fan, the multi-millionaire investment banker estimates that he has put around £2m into Stanley but had always insisted that he did not want to be chairman long term.

He is also now in the process of giving away his sizeable stake in the clubs, another thing he had long since said he wanted to do.

And Khan has now had dialogue with Seneca about helping them buy Rovers, telling the Lancashire Telegraph that he would be willing to play some part in any takeover.

“A local consortium approached me at the weekend asking if I would head the consortium and maybe be their first chairman,” said the 49-year-old, who is now based in Surrey.

“I don’t think that Venky’s are sellers but if they ever were to sell then, yes, I would be honoured to help. As a Lancastrian, I was gutted to see Blackburn Rovers relegated.

“I am a Stanley fan but over the years Blackburn Rovers have always been very good to us.”

Khan would be joined by a number of other investors if any takeover of Rovers was able to come to fruition. His Stanley shares are due to go to a number of investors, soon to be announced under new chairman Peter Marsden, as well as existing shareholders – including those who have bought a stake in a recent share issue, which has raised £200,000.

He will remain in close contact with Stanley, possibly providing further financial assistance if required, and remains committed to funding a new stadium for the club at some point in the future.

“I will still be around should God forbid they need me to help them,” he said. “And in some ways my stepping down may enhance the possibility of the stadium because capital can now go into the development.

“But it will take time. It would be dependent on the council and a commercial partner.

“I would think it is around £2m that I have put into the club. Most of that has been in donations.

“The loans are around £500,000 but that is only a quarter of what I have put in. If the club are in a position to repay loans then fantastic but that is not a priority.

“It has been the plan for two or three years to step down.

“I wanted to do the share issue when we could use the money constructively and not to repay old debt. Around 2,000 have been sold, which is very pleasing.”

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