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 Post subject: Kentucky Fried Blackburn Rovers
PostPosted: Mon Jun 14, 2010 12:51 am 
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Indian businessman Saurin Shah has confirmed he is serious about buying Blackburn.

It was revealed earlier this week that Shah is prepared to pay £25million to gain control at Ewood Park and has been given permission to begin due diligence of the club's finances.

Shah, who is the nephew of the vice-chairman of cricket's Indian Premier League, is adamant his interest is genuine and he is keen to complete the deal before the start of the new season in August.

"We're serious, we're in negotiations. We've acquired the right of due diligence. We have the right of first refusal," Shah is quoted as saying in the Daily Mirror.

"There are many Indian and Pakistani people in Lancashire. So the interest is natural."

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 1:43 pm 
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Blackburn have confirmed they have held a "cordial and productive meeting" with Indian businessman Ahsan Ali Syed's company over a proposed takeover.

Bahrain-based Syed, owner of Western Gulf Advisory, confirmed on Monday he was keen to buy the Lancashire club and said he wanted to give manager Sam Allardyce a transfer kitty of up to £100million.

Syed also said he would like to complete the takeover inside the next fortnight but Rovers have not made any other comment apart from confirming the talks are continuing.

A club statement read: "Blackburn Rovers can confirm that officials have held a cordial and productive meeting with Western Gulf Advisory (WGA) staff and advisers concerning a proposed takeover of the club. The process is ongoing."

Syed, 36, is reported to have around £300million to spend on the takeover, covering the club's debts and new players.

He claims he does not want to buy the club for its business potential but to fuel his "passion" for football.

Blackburn are currently run by the trustees of former owner Jack Walker's estate.

Steel magnate Walker thrust Blackburn into the big time in the 1990s by funding a lavish spending spree.

They notably won the Premier League title in 1995 but they have struggled to compete at the top end of the table since Walker's death 10 years ago.

The trustees, along with investment bank Rothschild, have been searching for a new owner for the last three years.

Syed claims to have signed a Memorandum of Understanding with Blackburn allowing him an exclusive four-week period for negotiations and due diligence.

Yet he is hoping to complete a deal much sooner and told The Sport Briefing: "I have 14 days to complete (the takeover) before the transfer window shuts at the end of the month and I'm trying my level best because Big Sam needs funds for players.

"I will be working very hard to complete the deal so that I can allocate some funds and help Big Sam to buy some good players.

"Between £80-100million is what I'd be allocating for players, but I'm not saying that there is not talent in the team. The talent is already very good.

"Right now Big Sam has done a fantastic job with very limited resources.

"If I can give him some good resources I'm pretty confident he could work wonders."

Syed has also said he will not set Allardyce lofty and unrealistic targets and will not interfere directly with team matters. He also wants to revamp the 31,000-capacity Ewood Park.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 2:19 pm 
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Another takeover? :| Blackburn should beware.. there's been loads of disaster takeovers.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 2:29 pm 
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He's not promising the World though, sounds more sensible than some so hopefully for Blackburn fans he can deliver on his words.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 4:25 pm 
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Under the new rules he has to prove he has the money in the bank and the fit and proper person test is a lot more strict following the shambles that was pompey.

If he thinks he can run it without investing he has another thing coming. Blackburn are well supported by locals but outside of Blackburn people don't really follow them and as a relatively low income area he won't be able to jack up the ticket price unless he's making the team a lot better.

Not really sure why he's investing in a club like Blackburn as I don't see them as a club with potential unless he thinks he can turn a steady profit out of them.


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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 4:44 pm 
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JSP wrote:
Under the new rules he has to prove he has the money in the bank and the fit and proper person test is a lot more strict following the shambles that was pompey.

If he thinks he can run it without investing he has another thing coming. Blackburn are well supported by locals but outside of Blackburn people don't really follow them and as a relatively low income area he won't be able to jack up the ticket price unless he's making the team a lot better.

Not really sure why he's investing in a club like Blackburn as I don't see them as a club with potential unless he thinks he can turn a steady profit out of them.

The article itself said 'He claims he does not want to buy the club for its business potential but to fuel his "passion" for football.' so potential income may not be an issue for him. The only club bigger than Blackburn I can think of that is/may be available for purchase at that kind of money is probably Everton. The reason he hasn't gone for them I can't really tell, but perhaps he doesn't have enough to buy the club, clear any debt they may have and have some left for new players.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 6:26 pm 
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Serbinator wrote:
The article itself said 'He claims he does not want to buy the club for its business potential but to fuel his "passion" for football.' so potential income may not be an issue for him. The only club bigger than Blackburn I can think of that is/may be available for purchase at that kind of money is probably Everton. The reason he hasn't gone for them I can't really tell, but perhaps he doesn't have enough to buy the club, clear any debt they may have and have some left for new players.


I think Everton's problem is that a new owner will be expected to fund a new ground straight away as they need to move. A new owner at Blackburn wouldn't need to do this for a while.

For me it should set the alarm bells ringing Blackburn without cast iron financial guaretees from the owner would not be able to support the wages of £100m worth of new players. I think the premier league put rules together where owners pay into a secured fund the money to cover the wages of any player they sign for the duration of the contract. If he buys them and signs players to 5 year £15m contracts there needs to be a way too make sure that if he suddenly doesn't have the money that it's him and not the clubs that suffer.


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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 8:23 pm 
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JSP wrote:
I think the premier league put rules together where owners pay into a secured fund the money to cover the wages of any player they sign for the duration of the contract. If he buys them and signs players to 5 year £15m contracts there needs to be a way too make sure that if he suddenly doesn't have the money that it's him and not the clubs that suffer.


Did they? Must have missed that. About time too, great idea. :thumbup:

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Aug 17, 2010 8:39 pm 
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conscience wrote:
JSP wrote:
I think the premier league needs to put rules together where owners pay into a secured fund the money to cover the wages of any player they sign for the duration of the contract. If he buys them and signs players to 5 year £15m contracts there needs to be a way too make sure that if he suddenly doesn't have the money that it's him and not the clubs that suffer.


Did they? Must have missed that. About time too, great idea. :thumbup:


Think I missed a few words out there.

This is far to sensible an idea for the premier league to put forward


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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Wed Aug 18, 2010 8:55 am 
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Was gonna say I missed that one, and yes it would be a very, very good idea.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Wed Aug 18, 2010 1:49 pm 
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"Physically? No" - Prospective Blackburn owner Ahsan Ali Syed responds when asked on BBC Radio 5Live if he'd ever been to the town.

Presumably he's been there emotionally and spiritually though. Who hasn't?

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Thu Aug 19, 2010 1:10 pm 
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Everyone tells little white lies when they're trying to impress a prospective bedfellow/bedlady. I can now confess that I know neither fluent Russian nor Carol Decker. Sorry Kate and Fiona. But thanks Kate and Fiona.

Currently making eyes at unlikely object of affection Blackburn Rovers is Indian businessman Ahsan Ali Syed, who is keen to emphasise his long-standing love affair with Blackburn by saying: "I was 26 when I started following the Premier League. I used to like Blackburn back then and also used to follow Manchester United's fortunes because of David Beckham."

Nice. Except Syed is 36. Ten years ago, while he was "following the Premier League", Blackburn were in the Championship.

RJ would very much like to see Mr Syed pick Egil Ostenstad out of a line-up.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Mon Aug 30, 2010 10:42 pm 
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A businessman wanting to invest around £300million in Blackburn Rovers has been ordered to close down his foreign investment company, an investigation has found.

Ahsan Ali Syed, who wants to buy the Premier League club, was ordered to fold his Bahrain based firm Western Gulf Advisory, BBC's Radio 5 Live Investigates claimed.

The Bahraini authorities made the demand to cease trading two weeks ago for "violating the laws and regulations of Bahrain."

Mr Syed, an Indian national based in Bahrain, says his proposed purchase of Blackburn will be made as a personal investment and through his Swiss company Western Gulf Advisory AG.

However, the revelations about his Bahrain investment company will raise questions about his suitability as a club owner.

Following an investigation by the Central Bank of Bahrain, officials from the Ministry of Industry and Commerce visited Western Gulf Advisory's luxury offices and ordered that the company stop trading immediately, 5 live Investigates learnt.

Company representatives asked for a brief period to continue operating while tending to their legal situation but were told they would be granted "not a minute more."

Notices were posted by the ministry on the company's premises to inform visitors that Western Gulf Advisory had been closed down.

News of the closure was initially kept quiet.

5 live Investigates presenter Adrian Goldberg said: "We have been told by a source inside the Bahraini government that action was taken against Mr Syed because the authorities suspect that his company has been acting on behalf of a hidden investor.

"Western Gulf Advisory's registration documents state that it was only authorised to invest on its own behalf."

Mr Syed, who is currently carrying out due diligence work on Blackburn said recently that he hoped to complete the purchase of the club by the end of September.

Commenting to Radio 5 live his spokesperson said: "We are purchasing all our investments, e.g. J&M McCabe in Ireland or Landmark in Australia, through our Swiss entity (Western Gulf Advisory AG) and other European entities.

"This also holds for a takeover of Blackburn Rovers which will be acquired by Mr Ahsan Ali Syed personally as well as by his Swiss entity.

"Furthermore, we are currently setting up another European entity called WGA Sports for our sporting activities.

"Let me emphasise again that Bahrain is a separate entity that has got nothing to do with our investment activities at all. In fact this entity has got a very limited scope of activities. With regard to the purchase of Blackburn Rovers our European investment team is handling the negotiations with the advisors of the Jack Walker trust which are proceeding very well.

"We are about to approach the Premier League to complete the paperwork soon."

A Barclays Premier League spokesman said they had not received any formal notification regarding a takeover of Blackburn, and would not conduct any investigation into the suitability of any potential investor until such a time.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Mon Sep 06, 2010 3:42 pm 
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A few weeks back, Mediawatch was highly entertained by the comedy stylings of one Ahsan Ali Syed, a 36-year-old businessman who claimed to have £300million to spend on a takeover of Blackburn, and furnishing Sam Allardyce with a shiny new set squad.

"Between £80m and £100m is what I'd be allocating for players," said Mr Syed on August 17.

But surely all football takeovers these days are built on debt? Not so, said he.

Syed told The Guardian on August 18: "There's no point giving away millions of dollars of debt to acquire a club because almost all of my companies are unencumbered...

"To the fans - if you pick up any of my companies, there is no single loan in any of them from any other financial institution or other outside party. Any finance is from me, in capital or a loan. I feel proud in making this statement."

Sounds too good to be true...and as we all know, when it sounds that way, it usually is.

The BBC reported on Sunday that Syed has 'left a trail of unpaid debt in the UK', including a £61,500 unpaid county court judgement, £1,000 in unpaid council tax and £7,800 in rent arrears from a London flat.

Syed claims to be worth anything between £3billion and £8billion, but his absence from the Forbes rich list has raised questions.

"My family has been into business for 180-odd years, mine is the ninth generation into finance. Until now we have not run out," said Syed in August.

Quite so.

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Tue Oct 26, 2010 1:18 pm 
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The takeover of Blackburn by Indian poultry giant Venky's is expected to be completed next month, the club confirmed on Tuesday.

The deal with the Venkateshwara Hatcheries Group should see the Blackburn become the first Premier League club to be bought by an Indian company.

Venky's chairperson Anuradha J Desai said in a statement: "We expect to be the first Indian company to acquire a Premier League team and we are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions."

Blackburn chairman John Williams added: "A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process.

"Both parties are hopeful that the transaction will be completed in November."

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Wed Oct 27, 2010 8:26 pm 
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October 26: Sam Allardyce explains the need for significant investment in Blackburn Rovers. "Investment is needed in every football club," said Allardyce. "Recently that investment has dried up because the club is up for the sale and the Trust wanted to move it on. If it goes on any longer and you don't get any investment it becomes a very dangerous and precarious situation. It needs investment to stay in this league, never mind achieving success."

October 27: Anuradha J. Desai, chairperson of Venkateshwara Hatcheries, better known as Venky's, the Indian company set to complete a takeover of Rovers, explains they will only 'invest' £5million into the team. "We won't need to buy expensive players, we can always lease (loan) them," said Desai. "We don't expect to be in the top five of the Premier League. We will be happy to be in the top 10-12."

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Wed Oct 27, 2010 8:29 pm 
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Bl**dy hell ! Don't get carried away with ambition now, will ya? :D

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Thu Oct 28, 2010 12:21 pm 
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Resurrection Joe wrote:

October 27: Anuradha J. Desai, chairperson of Venkateshwara Hatcheries, better known as Venky's, the Indian company set to complete a takeover of Rovers, explains they will only 'invest' £5million into the team. "We won't need to buy expensive players, we can always lease (loan) them," said Desai. "We don't expect to be in the top five of the Premier League. We will be happy to be in the top 10-12."


so why the hell are they allowing the takeover to go ahead?? :doh: :doh:

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 Post subject: Re: Buyer Moves On Blackburn
PostPosted: Sun Oct 31, 2010 9:27 am 
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Nee-mania Vidic wrote:
so why the hell are they allowing the takeover to go ahead?? :doh: :doh:


I suppose £5m is better than nothing if there's no money left and no better offers. :dunno:

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 Post subject: Rao family buy Blackburn Rovers from Jack Walker Trust
PostPosted: Fri Nov 19, 2010 4:06 pm 
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Rao family buy Blackburn Rovers from Jack Walker Trust


Blackburn have been purchased by the Rao family from India for about £43m.

Under the deal, AGR understands Rovers' shares have been acquired for £23m with a debt in the region of £20m taken on by the new owners.

The trust set up by late former owner Jack Walker to own the club has sold its 99.9% holding to the newly formed company Venky's London Limited.

Trust chairman Paul Egerton-Vernon said: "We're very pleased to be passing on the Rovers to the Rao family."

He continued: "We have been impressed with their enthusiasm and their plans and ideas for investment as well as their wish to preserve the legacy of Jack Walker."

Venky's chairman Anuradha J Desai said they were "delighted, proud and humbled to be associated with Blackburn Rovers".

He added: "We will absolutely respect the Jack Walker legacy and will be actively supporting the organisation to ensure that Blackburn Rovers remains one of the best-run clubs within the Premier League.


"We are particularly pleased that the deal has the full support of the Walker Trust, the chairman and the management team, who will of course remain in place with our full support."

The deal make Rovers the first Indian-owned Premier League club, and the new owners believe their experience of the Asian country means they will be able to open a huge new market for the Lancashire outfit.

Venky's director Balaji Rao said the firm intends to "exploit our in-depth knowledge of the Indian market in particular, and beyond that, the whole of Asia" to develop the club's fan base.

Speaking on Friday before the deal was confirmed, Rovers boss Sam Allardyce welcomed the takeover and said he hoped it would lead to funds to buy new players as Rovers battle to avoid relegation from the Premier League.

"The best way to improve a football club in the early stages is the first-team results," he said.

"We all know we have been short of a bit of investment in the last few years.

"Since the trust has tried to sell the club they haven't been willing to fund the sort of transfers needed to keep the club improving.

"That's put it in danger of maybe being in the throes of selling your best players and threatened with relegation."

According to its website Venky's was established in 1976, mainly to produce chicks for the Indian poultry market, before diversifying into other areas including nutritional health products for humans, pet food and other healthcare products.

The Jack Walker Trust put Blackburn up for sale two years ago in the hope of attracting buyers willing to invest.

Blackburn are 14th in the Premier League, only two points above the relegation places after picking up four victories in 13 games.

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