Ahsan Ali Syed has denied claims that he is struggling financially as he attempts to conclude his takeover of Blackburn Rovers.
The Indian businessman's Bahrain-based firm Western Gulf Advisory has been forced to close down, according to BBC Radio Five Live for 'violating the laws and regulations of the country'.
However, 36-year-old Ali Syed has refuted the claims and insists his takeover of Rovers will proceed with no hitches.
His spokesperson Julia Thiem told the Lancashire Evening Telegraph: "We know all the time the process is going on there will be rumours.
"So the best way to stop that and prove to people we are capable of taking control is by completing the purchase. Hopefully that will silence people.
"With Blackburn Rovers, there has been great interest from media all over the world and the Bahrain authorities have approached us and asked for clarification about our investments and what is coming from European entities and what has been purchased from Bahrain.
"It is fair enough the authorities are seeking clarification because there have been so many stories about us. We have no problems with that.
"Mr Ali Syed is not unduly worried about the stories. There is always a negative story about you when you become popular. He finds it funny in one way because first of all people were doubting whether he had enough funds and now they have admitted we have the funds but they doubt they belong to us.
"Of course we are confident we will pass the Premier League's fit and proper test. It will be harder because we will be the first owners who have to pass the new regulations but we can prove our amount of funding. I am sure all of this will lengthen the process as well but it is not a problem.
"It is true the offices are closed because we locked them ourselves. We were not shut down. We locked them because we are due to move new offices, this has already been reported in the Gulf Daily News.
"But the offices are not ready yet and, as it is Ramadhan at the moment, it is hard to rush anything. So Mr Syed has decided to give people a few days off until the end of Eid and hopefully on September 14 we will start running operations from the office."
Meanwhile, Maceo Rigters has joined Dutch club Willem II on a season-long loan.