Blackburn bidder’s firm ‘told to cease trading’

A COMPANY run by the Indian tycoon in takeover talks with Blackburn Rovers has been told to cease trading.

According to a BBC report Bahrain’s trade and industry ministry said it closed the Bahrain-based company, Western Gulf Advisory (WGA), for violating regulations by operating outside its remit.

Western Gulf Advisory, run by Ahsan Ali Syed, said the bid for the Premiership club was being handled by a separate company based in Switzerland – Western Gulf Advisory AG – and is unaffected.

Last month Blackburn granted WGA a four-week period of exclusivity to carry out due diligence and set out its investment plans to the board. A delegation travelled to Blackburn and is understood to have discussed a £300m investment with a further £100m available for player transfers.

Mr Ali Syed, 36, the heir to a £5bn fortune, plans to fund the deal himself. He is quoted as saying he has a passion for the club and is not looking to make money from his investment.

The BBC said details of WGA’s offence in Bahrain were unclear, but it understood that the company had fallen foul of Bahrain’s central bank.