Lancashire club nearing takeover and cash injection
Ashan Ali Syed is close to completing the due diligence required by the Premier League, and will step up his efforts to take control of Blackburn Rovers.
The Indian Tycoon estimates his personal wealth at around £8b, and Rovers fans will be eagerly anticipating the cash injection as they look forward to a return of the days when they challenged for the Premier League title.
Even barring any mishaps, Syed will be unable to complete his takeover until the middle of September at the earliest, ruling out Blackburn making any big money signings before the close of the transfer window on Tuesday and ending any hopes of challenging for the Premier League title this season – they are 2000/1 to do so.
The Bahrain-based businessman has estimated Blackburn’s value at £300m and once he has filed the necessary paper work with the Premier League regarding the due diligence, he will be able to make an offer to the clubs minority shareholders.
With his £8b fortune, Syed should have no problem in tempting the Rover’s majority shareholder – the Trustees of Jack Walker – to sell up and grant Syed’s wish of owning a Premier League club.
On his potential purchase of the Lancashire club, Syed said, “there’s huge potential. We need to be more innovative. If you go back in history, [Manchester] United and Real Madrid started somewhere. They did not start as giants.”
Blackburn fans could be in for exciting times and they will look forward to hearing the developments of Syed’s takeover during the international break.
Meanwhile Blackburn boss Sam Allardyce will have to make sure Blackburn can stabilise their mid-table credentials and not get drawn into a relegation battle – they are 9/1 to go down.
Sam Allardyce will relish funds to play with and Blackburn will have a solid Premier League campaign. Follow the latest Barclays Premier League football betting market here.