Blackburn suitor given more time

16 September 2010 03:44
The Indian businessman interested in taking over Blackburn has had his "period of exclusivity" extended as the due diligence process continues.[LNB] Ahsan Ali Syed's firm Western Gulf Advisory's (WGA) agreement with Rovers means no other potential buyer can take over the club while the company continues to explore options.[LNB]A statement from WGA said: "Western Gulf Advisory announces that the period of exclusivity it was granted in order to conduct due diligence on Blackburn Rovers Football Club has been extended.[LNB]"This enables WGA to continue to explore the financial situation of the club while ensuring that no other bidder can buy it or look into its books.[LNB]"Although the due diligence process is taking longer than originally envisaged WGA remains committed to pursuing the opportunity to acquire such a prestigious club."[LNB]WGA is based in Bahrain and Switzerland, though chances of a takeover appeared to have receded after allegations about Syed's finances were made in a BBC documentary.[LNB]

Source: Team_Talk