Blackburn's new Indian owners have promised to deliver a bright future after completing their takeover of the Ewood Park club.

Poultry firm Venky's yesterday finalised their purchase of the 99.9% shareholding of the Jack Walker Trust for £23million.

Some reports have put the total value of the deal at £43million, taking into account club debts which will be paid off.

Venky's, a hugely successful business run by the Rao family, initially spoke last month of setting only modest, realistic targets for Rovers but they are determined to maximise potential and maintain tradition.

Venkateshwara Rao, joint managing director, said: "We are all truly honoured to be working with such an historic club and 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.

"It is as a team that this club has succeeded in the past and it is as a team that this club will achieve great things in the future."

The club's existing management structure, including chairman John Williams, will be retained.

Manager Sam Allardyce has welcomed news of the takeover and is expecting investment in the team, but he accepts he will have to spend shrewdly.

Allardyce said: "You've got to keep to the reality.

"People will go off mentioning we're after Torres or Drogba but in terms of investment, rather than huge sums of money, it will be relatively moderate.

"We will improve the squad but we will have to be diligent in our research to get the right player and spend the money wisely."

Rovers certainly feel they have found perfect new owners for the club in Venky's, which is a brand nickname for the Venkateshwara Hatcheries Group.

Jack Walker's millions propelled Rovers to the Premier League title in 1995 but, despite being recognised as one of the best-run clubs in the country, they have long since fallen behind their bigger rivals.

The trust set up to look after Walker's estate following his death in 2000 put the club up for sale two years ago after recognising deeper investment was needed to enable them to compete.

Williams said: "The successful conclusion of the deal is clearly a significant event in the history of the club.

"The Rao family pursued the opportunity with determination and enthusiasm.

"The board will remain focused on what it does, providing important stability, a platform from which the new owners will be able to launch new ideas, particularly in markets outside the UK."

Venky's will now be making an offer to minority shareholders to take their stake to a complete 100%.