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Investors inspect Blackburn books
Published : 13 Aug 2010 14:01:27
Ahsan Ali Syed has moved into pole position to take over Blackburn after his Western Gulf Advisory (WGA) investment vehicle was given a four-week period of exclusivity to check the club's accounts.
Citigate Dewe Rogerson, which looks after WGA's public relations, claimed in a statement released to The Sport Briefing that the Bahrain-Swiss investment company would sign a memorandum of understanding with Blackburn on Monday morning before beginning detailed due diligence.
Syed, an Indian businessman, has earmarked Â£300million to wrap up the acquisition, cover outstanding debts and "provide the necessary capital to buy new players and invest over the longer term so it can once again become a title contender".
The statement added that WGA would also "discuss the potential business and investment strategy including the transfer of new players" with Rovers chairman John Williams.
"For a period of four weeks, beginning on August 16, WGA will explore the financial situation of the club," read the statement.
"Over this four-week period WGA has been granted exclusivity which means no other bidder can buy the club or look into Blackburn's books."
Jean-Claude Darmon, a key figure in French sports marketing for more than 40 years, has been brought in to advise WGA in negotiations.