Indian businessman swoops for Racing Santander

Last Updated: Jan 20, 2011, 11:44 AM IST

Madrid: An Indian businessman has become the latest non-Spaniard to attempt to buy into La Liga and is in talks to acquire Racing Santander, a heavily indebted club based in the north of the country.

Ahsan Ali Syed, the founder and chairman of Western Gulf Advisory Asset and Wealth Management (WGA), aims to complete the Racing deal by Jan. 24, his office said in a statement on Wednesday.

Ali Syed failed in an attempt to buy English Premier League club Blackburn Rovers last year and his takeover bid in Spain follows the purchase of Malaga by a member of the Qatari royal family at the end of last season.

A Mexican businessman is also trying to buy Real Oviedo, a former first-division club that has dropped to the third tier, local media have reported.

"Having studied several options from various countries in the last few months, Real Racing Club de Santander has fit into my strategy as it is a well-managed club with a long-term potential," Ali Syed said in a statement.

The Racing bid is part of a strategy of investment in sport, which will be managed by an Amsterdam-based company he owns, WGA Sports Holding.

"Sport has always been a good investment opportunity, especially if it is combined with passion and dream," he said.

"Football is not only an investment for me but my personal passion. So owning a football club and watching my team play has always been my dream."

The statement from Ali Syed`s office contained no financial details.

Bureau Report