The football club said that there have been detailed discussions regarding the sale of the club to the Indian Vekateshwara Hatcheries Conglomerate, owners of Venkys, and the deal is hoped to be signed next month.
Blackburn chairman John Williams said: “A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process. Both parties are hopeful that the transaction will be completed in November.”
V H Conglomerate is described as a leader in poultry business in India, founded by B.Venkatesh Rao.
Venkys chairperson Anuradha J. Desai added: “We expect to be the first Indian company to acquire a Premier League team and we are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions.”