Here is a full transcript from The Lancashire Telegraph's Rovers Q&A.

Why aren't Venky's investing in the club?

From everything that has been publicly said, Venky's can invest as they please in Rovers, if they match each £ with a personal guarantee. So let's just get that clarified first of all.

The evidence in front of us shows that they're choosing not to do that at the levels they have previously. Clearly, money generated from player sales has been used to fund the club in recent months as Venky's don't have to match that money and essentially pay double.

I don't personally believe administration or anything similar is a real risk. When Venky's have needed to sign cheques, they have, historically. If the club *needs* money to pay their bills, I think they'd provide it. Waggott said that money had been requested for operational costs in the last meeting with the Rovers Trust in June.

Now keeping a club afloat and funding it to progress and be competitive are two separate things. Clearly, the squad is weaker than 12 months ago and before that. Significant money has been recouped and hasn't been spent in the transfer market.

Essentially, they don't seem to want to put money in, which would require a personal guarantee, unless they absolutely have to. Hence the lack of transfer activity.

If the August 20 court case goes against Venky's, how will the club be funded?

Going back to what I said above, Venky's can fund Rovers. It's not in their interest to not pay the bills and they have always done so.

Fans have every right to be worried. The squad lacks serious depth and needs investment, which is not forthcoming. But until bills aren't paid, I think the club will continue to be funded by the owners when necessary.

If August 20 goes against Venky's, the owners will have to continue paying the personal guarantee when the club needs a cash injection. They have done that so far but haven't needed to recently because of the Adam Wharton money and other self-generated revenue.

Could it force a sale? The current situation is clearly not sustainable but Venky's have never indicated they want to sell Blackburn Rovers. That is the reality.

Is it possible that Rovers are very active after August 20 if the court case goes in Venky's favour?

If Venky's win their court case on August 20, they may not have to pay the personal guarantee. It's very plausible that could loosen the purse strings.

It's impossible to know for certain. These investigations are clearly very serious and have caused a huge issue for Venky's global empire.

So, can I see a world where the court case goes in Venky's favour and they therefore provide more money in the transfer market? Sure. But that's not a guarantee.

Will Steve Waggott be addressing the fan base with regard to the financial picture?

As CEO, Waggott is the person who has the clearest picture. Since April 2022, when I started covering Rovers, he's conducted one public-facing interview. That was with BBC Radio Lancashire last August ahead of the new season.

Obviously, there have been interview requests and approaches made. Rovers' board are clearly being selective about any on-the-record interviews, especially whilst the transfer window is open.

The indications I've been given are that Waggott might speak to the press further down the line, so it's a waiting game. There was a fans' forum scheduled for last week, which should provide an update in the meantime.

It's quite evident that supporters would appreciate someone in the hierarchy explaining on record what the state of play is.

Who is picking the transfer targets at Rovers? Why are there so many 'Heads of'?

Rovers have essentially matched their recruitment team from last year. Rudy Gestede has taken on most of Gregg Broughton's responsibilities, John Park has assumed Sean Kimberley's role and Steve Waggott will lead negotiations with clubs and players.

Adam Owen will be taking on some of Broughton's other responsibilities as Head of Technical. I don't believe he is directly involved in the transfer process, though clearly, it's a bit of a melting pot situation.

After the last three transfer windows, the board decided to clear the decks and start again. Obviously, it is not ideal timing to do that during June.

In terms of the transfer process. Park will help identify the players, along with Gestede and the other scouts/people in the recruitment department.

I also think John Eustace will have a bigger role than Jon Dahl Tomasson did.

It's then up to Waggott to negotiate and the board to approve the deals.

Is there any budget at all for transfers? Will there be a reliance on the loan market?

As we have reported many times, the budget for this summer is limited. Rovers aren't going to be spending multi-millions, certainly at the moment.

Does that mean there is no scope for any transfer fees? I don't think so. It's more about the payment structure and overall cost.

Rovers have had a tight wage bill for some time. A lot of their biggest earners from pre-COVID have been removed in recent years. They won't be pushing the boat out for players that they don't think they'll definitely get their return on.

The loan market is clearly going to be very important, especially when it comes to the top end of the pitch. That costs the most money.

A lot of Championship clubs are going to want a lot of the same players, so Rovers will have to be competitive and proactive to secure their targets.

How many signings do you think Rovers need?

I think there's a lot of work that needs doing. They need a goalkeeper, two centre-backs and a striker, for starters.

They could do with at least one full-back, ideally, who could play right and left, though Callum Brittain can do that. Central midfield is ok numbers-wise, if there are no departures.

They need a striker, as I've said and a wide forward who has pace. Preferably a right-sided option because Rovers struggled to solve that position without Ryan Hedges.

So that's five without being greedy. You could certainly make the case for me.

Who is the closest player to signing for Rovers?

Liam Cooper could easily accelerate if there is a compromise on personal terms. Rovers are wary of his recent appearance record in relation to handing out a guaranteed multi-year deal.

Cooper is prepared to take a pay cut from what he earns at Leeds but clearly would like some assurances in the length of his deal. It's a hurdle that needs to be overcome but there's nothing else stopping that deal.

Tim Krul has gone quiet due to personal terms. They're clearly looking at cost-effective but experienced goalkeeping options. If they find the right player, that could happen quickly too.

Could John Eustace walk if there is no investment?

Look, that's always a risk, but I doubt it. John Eustace has a contract for two more years and doesn't seem the type to shirk a challenge.

But clearly, he's growing frustrated and knows Rovers need bodies. He's working with a very thin squad, filled with inexperienced Academy talent to make up the numbers.

I don't think he'll walk away, there's still lots of time for the picture to change, but I'm reassured by his comments in pre-season so far. He knows more is needed.

How do you think this squad will fare in the Championship currently?

The starting XI is competitive, as it stands. They have Lewis Travis back and nobody of major importance has left. But this squad has no depth whatsoever.

I'd be worried, as things stand, because of how gruelling the Championship is. There are players with chequered injury records that Rovers, at the moment, can simply not afford to lose.

So yeah, it's obviously a big concern right now. It is tough to predict much improvement on last season, based on the current squad because of how thin it is.

Will players like Jack Vale, Georgie Gent and Harry Leonard get a chance?

There's not much choice at the moment! Leonard is injured and I wouldn't expect to see him back this month and perhaps beyond that.

I like what I've seen from Gent, he's got pace and great raw attributes. They can't overrely on him but he might be a useful wildcard option off the bench if he impresses in pre-season.

With Vale, I thought he'd go back on loan. That could still happen if new players arrive towards the end of the window.

What is the latest with Rory Finneran?

There is every expectation that Finneran will join Newcastle United but that hasn't been announced yet.

Rovers offered Finneran a scholarship and made a big play to keep him but he hasn't signed. It's now up to Rovers and Newcastle to agree a compensation package or it will go to a tribunal.

So there's nothing official but he'll be going to Newcastle, I'm told.

What teams will play against Morecambe/Wigan as they're back-to-back?

Eustace will split the squad as he has in each friendly so far. Half will play at Morecambe, I suspect the younger group.

The other half, with more of the senior players, will get their minutes against Wigan Athletic.

How many season tickets have been sold?

Rovers have sold around 9,000 season tickets for the new season. The deadline for phase two is this weekend and then prices will jump again, so now is the best time if you want to renew.

Phase three starts on Monday, July 22nd, with increases of around £30.