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Indian tycoon eyes Blackburn takeover

Sports Desk |
Update: 2010-08-13 00:54:35

LONDON: Indian businessman Ahsan Ali Syed stepped up his bid to buy Premier League club Blackburn Rovers 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 before beginning detailed due diligence.

Syed has reportedly allocated 300 million pounds to complete the takeover, 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."

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.

BDST: 2047HRS, August 13, 2010

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