The head of the top-flight governing body insists that the Lancashire outfit's Indian owners are suitable and says the club can bounce back from the Championship
Following the defeat to Wigan on Monday which sealed Rovers' fate, under-fire boss Steve Kean revealed that both he and the owners are set to stay with the club for the long term .
Kean and Venky's have been the focus of fierce protests from Rovers fans this term, with the club's Indian hierarchy receiving the brunt of the abuse for the sale of several key players.
However, Scudamore has re-affirmed the legitimacy of Venky's ownership, and believes that the Lancashire outfit's fans should not fear for the future of the club.
He told BBC Radio 5 Live: "We don't sit here regretting that the owners bought the club. What you do regret for them and the Blackburn fans are the performances of the team that led to them being relegated.
"We put a framework in place for owners to run clubs and they passed all the financial rules. The decisions they made were for them to make. It's harsh but that's the ultimate reality.
"I think there's very little danger that Blackburn as a club will be threatened, but the idea I can give the fans any comfort regarding the future success of the club is out of the question."
Scudamore also urged Blackburn fans to take heart from the story of Newcastle United, which has bounced back from relegation to the Championship in 2009 and now occupies a place in the top six of the Premier League.
Scudamore said: "Mike Ashley [Newcastle owner] made unpopular decisions but they are on the brink of European qualification."