Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Potential investor looking over Blackburn's books

Fri 13th Aug 2010 | Clubs Ownership

It’s reported that Ahsan Ali Syed has moved into pole position to take over Blackburn after his Western Gulf Advisory (WGA) investment vehicle was given a four-week period of exclusivity to check the club's accounts.

Citigate Dewe Rogerson, which looks after WGA's public relations, claimed in a statement released to The Sport Briefing that the Bahrain-Swiss investment company would sign a memorandum of understanding with Blackburn on Monday morning before beginning detailed due diligence.

Syed, an Indian businessman, has earmarked £300million to wrap up the acquisition, cover outstanding debts and "provide the necessary capital to buy new players and invest over the longer term so it can once again become a title contender".

The statement added that WGA would also "discuss the potential business and investment strategy including the transfer of new players" with Rovers chairman John Williams.

"For a period of four weeks, beginning on August 16, WGA will explore the financial situation of the club," read the statement.

"Over this four-week period WGA has been granted exclusivity which means no other bidder can buy the club or look into Blackburn's books."

Jean-Claude Darmon, a key figure in French sports marketing for more than 40 years, has been brought in to advise WGA in negotiations.

WGA confirmed last week that it had made a formal takeover approach for Blackburn after signing an initial non-disclosure agreement with the club's advisers at investment bank Rothschild.

Blackburn officials have been keeping quiet on the identities of potential investors, although Rovers chief Williams said last week that there have been "a number of interested parties for some time".

A number of consortia have contacted the Jack Walker Trustees over the last three years about a possible buy-out.

Ex-JJB Sports chief Chris Ronnie and another group based in Iceland have held talks with the club's trustees, while another Indian entrepreneur, Saurin Shah, was widely reported to be closing in on a takeover as recently as June.

Syed, 36, is a lawyer who studied at the London School of Economics, and his company has recently diversified by making a number of investments in Australia and Europe.

According to its PR company, WGA "is targeting the UK for investments and it plans to invest a significant amount over 2010".

 

 

 

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Massimo Cellino Leaves Leeds After Takeover

Wed 24th May 2017 | Clubs Ownership

Andrea Radrizzani has completed his takeover of Leeds United after purchasing Massimo Cellino’s 50% stake in the club. Radrizzani, who purchased 50% of the club in January, has acquired the...

EFL Approve Chinese Investment At Reading

Wed 17th May 2017 | Clubs Ownership

EFL approval granted as Chinese investors Dai Yongge and Dai Xiu Li take majority shareholding of club. Reading Football Club has confirmed Chinese brother and sister, Dai Yongge and Dai Xiu Li, have...

Hartlepool United Chairman Announces Resignation

Thu 4th May 2017 | Clubs Ownership

Hartlepool United’s Chairman, Gary Coxall has announced his resignation from the League Two club. The club faces relegation from the Football League for the first time in their history this...

Sam Rush Sacked By Derby County

Thu 4th May 2017 | Clubs Ownership

Sam Rush, President and Chief Executive Officer of Derby County has been sacked by the club it was announced yesterday. A brief statement released by the club read: “Derby County Football Club...