31 Aug 2010Blackburn Rovers bidder's firm hits trouble

Football Clubs News | Football Finance News

The investment arm of Indian businessman Ahsan Ali Syed, recently linked to a proposed £300 million takeover of English Premier League football club Blackburn Rovers, has been ordered to cease trading in Bahrain.

According to a report by BBC Radio 5 Live, Western Gulf Advisory incurred the disapproval of the country's central bank by "operating outside its remit", although exact details of the alleged offence remain unclear.

However, representatives for Mr Syed - who recently pledged to invest around £100 million on strengthening Sam Allardyce's playing squad - insisted the attempted takeover of Blackburn Rovers will be unaffected by this latest development.

The tycoon is estimated to be worth between £3 billion and £8 billion and his firm's website asserts it provides asset management services, although Mr Syed has not been included on the Forbes Rich List and is a relatively enigmatic figure.

Over the weekend, the News of the World claimed a group of Australian investors are looking at taking control at Ewood Park for £25 million and have lodged a formal offer with financial services group Rothschilds.

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Written by Terry Mitchell

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