Venky's London - a newly-formed company established by the India-based Rao family - has completed its acquisition of Blackburn Rovers Football Club (BRFC).

BRFC Investments, a wholly-owned subsidiary of the Jack Walker 1987 Settlement, has offloaded its 99.9 per cent stake in the Premier League club as part of the deal. The deal has valued the club at £23m, with Venky's to make an equivalent offer of 17.17p per share to minority shareholders for the remaining 0.1 per cent of the club.

Jack Walker Settlement Trustees chair Paul Egerton said: "We have been impressed with [the Rao's] enthusiasm for the club and their plans and ideas for future investment to develop it further. "We are particularly pleased that the club will continue in family ownership and that the existing management team at the Rovers led by John Williams will continue unchanged."

Venky's chair Anuradha Desai added: "We are committed to creating a long-term financial platform which the club can use to realise its obvious potential on and off of the field."