Blackburn Rovers in talks over sale
Board members of English Premier League side Blackburn Rovers have revealed the club are in negotiations over a possible sale. Chairman John Williams said that Blackburn have been in talks with "number of interested parties".
The club is owned by trustees of the estate of Jack Walker, an industrialist and businessman from the town, who died in 2000. With Blackburn currently around £20m in debt, the trustess have sought to secure the club’s future by finding a new owner. Williams told BBC Radio Lancashire that: "There have been interested parties for some time. Discussions are ongoing."
Indian entrepreneur Ahasan Ali Syed is reported as being one of parties to have held discussions with club advisers Rothschild. The Daily Telegraph reported that 36-year-old Syed, who is the head of the Bahrain-Swiss based investment firm Western Gulf Advisory, has proposed to wipe out Blackburn's debts and invest in the club to help turn around its fortunes and once again challenge for silverware.
'£300m bid'
It has been reported that Syed is ready to launch a £300m bid for the club. If he is successful with the offer, he is set to give manager Sam Allardyce money to bring in new players with the aim of players repeating their 1995 league championship win. He is said to want the deal to be agreed by the end of the month, with the handover taking place in September.
Western Gulf Advisory are said to have entered into a non-disclosure agreement over the talks. However, a company spokeswoman said that: "I can confirm that we made a formal approach to buy Blackburn Rovers." Blackburn declined to comment on the move by Syed’s company and said discussions were being held by Rothschilds. However, it is believed that the club are "interested in the approach".
In June, it was reported that another Indian entrepreneur, Saurin Shah, held ambitions of purchasing the club with the aim of increasing Blackburn’s popularity among the town’s substantial Asian population.
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