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Ali Syed to finish due diligence this week

Ali Syed to finish due diligence this week

Ashan Ali Syed is expected to complete his due diligence of Blackburn Rovers this upcoming week.

Syed has been doing his best to raffle through the books at Rovers and his spokeswoman has confirmed that things are progressing well, allaying rumours/fears that the deal wasn't going well.

Syed has conceded however that it won't be until mid-September at the very earliest that the deal could be completed with complexities dragging the deal out.

His spokeswoman Julia Thiem released a statement a short while ago.

Julia Thiem, spokeswoman for Western Gulf Advisory, Syed's investment company, is quoted in the Guardian as saying - 'We are progressing well and hopeful of completing the due diligence process this week. It's fingers crossed for that. Then we will approach the Premier League to complete the paperwork needed. We also have to make an offer to the minority shareholders of the club.'

Thiem was then asked whether Syed could hold executive power over Rovers.

Thiem continued - 'It is a little more complicated because of [the majority] of the club being owned by a trust. The lawyers say this could make the deal longer to conclude. We hope it could be done by the middle or end of September. But it is difficult to know at the moment.'

Syed massive wealth (he owns absolutely shed loads of companies and has amassed more than enough money to live out his life in unimaginable luxury) has allowed him to be in a position to finance the deal personally, which is believed to be a massive attraction to the current Rovers owners, Vinjay's mates the Trustees.

Syed outlined his ambitions for the mighty Rovers in a previous interview with the Guardian earlier this month.

Syed himself said to the Guardian - '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.

'The first step is to maintain Premier League status, enhance the capabilities of the academy, see if there lies potential to increase the seating of the stadium, help Big Sam [Allardyce] with the transfer budget and to market the club rightly in other parts of the world, specifically in India, the far east and Middle East.'

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Writer:Mikey Delap
Date:Saturday August 28 2010
Time: 5:48PM

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Comments

0
Bit on a update for y'all as we say in the hood...
Mikey Delap
28/08/2010 17:50:00
0
Yes! Ensue orgasm.
roversfanben
28/08/2010 21:01:00
0
It will be interesting to see what the offer is to the minority shareholders. Will their shares be compulsorily purchased or will they be allowed to keep their holdings?
Ewoodrover
28/08/2010 23:54:00
0
i always thought the jack walker family owned 99.9% of the club and a 'mysterious' person owned the other 0.1%, so minority shareholder would be the dude who owns the 0.1% ?
LHrover
29/08/2010 00:33:00
0
It's me - tell Syed I'll take £100,000 o.n.o
FreidelNo.1
29/08/2010 08:54:00
0
Cheers for that Mikey been wondering whats been going on in regards to this..Nice to have an update.
oziroversfan
29/08/2010 11:20:00
0
I always knew you had some dodgy dealings FN1!!! ;)
Mikey Delap
29/08/2010 12:10:00
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