Indian tycoon confirms Blackburn takeover interest

AN INDIAN tycoon has confirmed he is interested in buying Blackburn Rovers Football Club.

Ahasan Ali Syed, who leads a Bahrain-Swiss based investment firm called Western Gulf Advisory says he has made an approach for the Lancashire club.

Reports said he is willing to invest £300m in the club.

A spokesperson for Western Gulf Advisory confirmed to TheBusinessDesk.com that an approach had been made to Blackburn’s advisers but that no further information would be forthcoming due to non-disclosure agreements being in place.

Mr Syed is reportedly keen to buy the club, pay off its debts and invest in the playing staff, academy and other infrastructure.  

The 36-year-old racehorse owner, is originally from Hyderabad and was educated at the London School of Economics, He is reportedly the sole heir to the family business which traces its wealth to the East India Company.

The Telegraph said Mr Syed plans to use personal family funds channelled through the firm to complete the takeover at Ewood Park, having singled Blackburn out because of their potential for growth.

Earlier this year another Indian, Saurin Shah, made an approach, but this seams to have stalled.

Blackburn Rovers chief executive John Williams added: “There have been a number of interested parties for some time and discussions are ongoing.”

Blackburn has effectively been for sale for two years after the Walker estate made clear that it was no longer in a position to underwrite the club indefinitely.

Last season the club made a loss of £6.5m on turnover of £50.9m, largely because of a wage bill that accounted for 90% of revenue.

English Premier League teams continue to attract interest from overseas due to the huge popularity and profile of the game. 

Liverpool FC is mulling several takeover approaches, including one from Chinese financier Kenny Huang, while Manchester City FC is continuing to enjoy the benefits of ownership by Sheikh Mansour of Abu Dhabi, who has invested hundreds of millions of pounds in the club since buying it nearly two years ago.