Venky's will try to remove the personal guarantee needed to fund Blackburn Rovers during their August 20 court case, Chief Executive Steve Waggott has confirmed.
The Rovers owners have been plagued by restrictions on their funding for more than 12 months. This is a result of ongoing investigations by the Indian government into Venky's parent company.
As a result, that has impacted the money available to Rovers, though they're not directly implicated in the inquiries. Venky's have needed court hearings to push through funding to the club previously but those have been successful.
Waggott has clarified that there are currently no restrictions preventing Venky's funding Rovers as they wish. However, every pound sent must be matched by a personal guarantee, essentially costing the owners double.
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Venky's are back in court on August 20 and removing that guarantee will be a high priority, which could therefore free more funds for Rovers as a club.
"I can only reiterate what I've said in different forums. They have told and informed me that it does not have any operational aspects of the club," Waggott told RoversTV.
"They're still able to remit funding to the club. With the court case that is pending, they have to put a guarantee against any funding they give the club. Every pound has to be doubled up with a guarantee.
"They obviously want to remove that. At the moment, the process, as I've explained, the funds arrive and we have to support all spending of funds with bank statements, then have it signed off by audited accountants and then sent back to India.
"It works, it's quite easy, quite straightforward. It is streamlined but we want to remove that step and have a clearer approach moving forward where money can be remitted as they did in the past.
"I've been informed that these are technical and legal issues. One of the issues is to remove the guarantee towards the funding of the football club which they're pushing for.
"It's been a long, ongoing process. They want it to come to an end as soon as possible, the owners. We want it to come to an end, the supporters do as well, as soon as possible."
Waggott reiterated Venky's ongoing financial support and insisted guarantees have been made to continue funding Rovers.
"They brought me in seven years ago come this December and in that time, they have been fully supportive of my requests for funding," he added.
"They have never let me down and even in the difficult times, last season, when they had pressure on them through the court cases, they still funded the club.
"They will fund it going forward, I have no doubt they will. They send their best wishes to John Eustace, the staff, the players and the supporters that we have a very positive season."
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