Indian Tycoon Buys La Liga Club Racing de Santander




Racing Santander

Racing Santander

The Economic Times today reported that Bahrain based Indian businessman, Ahsan Ali Syed has completed the takeover of La Liga club Rancing de Santander. The deal was completed after the proposed takeover gained the approval of the government of the northern Spanish region of Cantabria and Spain’s National Sports Council.

“The transaction has been officially approved by both the regional government of Cantabria and the (national government sports council) after an intense due diligence process that analysed and approved Syed’s strong financial capabilities to take the club forward,” the statement said.

The tycoon himself was quoted as saying “Football is not only an investment for me but my personal passion. I am excited and proud to be the new owner [of Racing Santander]. They are an old club with a rich tradition. Racing fits into our strategy because it is a well managed club and has great long term potential.”

No figures of the takeover were released but local newspapers reported a sum of 30-40 million euros. The tycoon also promised to spend 90 million euros over the next five years.

Ahsan Ali Syed

Ahsan Ali Syed

Ali Syed, who owns Western Gulf Advisory based in Bahrain becomes the second foreign businessman to own a Spanish Club after Qatar based Abdullaha bin Nasser Al-Thani bought Malaga for a reported 25 million euros. Syed had earlier made a bid to take over Premier League club Blackburn Rovers but lost out to compatriot Venky’s group.

Racing are currently on 14th position in the La Liga table, 4 points clear of relegation zone. They are set to face the La Liga champions Barcelona later in the day. For a 98 year old club, they have never won the La Liga and their best finish in first division was in 2007-08 season (sixth place).

Tags: , , , , , , ,

Ambuj Gupta

Author:

An engineering student, with little interest in Engineering! Football is what I love watching, Tennis is what I love playing. Have stayed up till 4 am to watch the Spain-Netherlands match even though had a semester exam at 9 am. I love the Brazilian style of play, but I support Netherlands. A Manchester United fan, I am interested in not just the present, but also the past and the future of the club. Try to read and watch as much content about United as I can to make up for the glorious years I missed about the club.

Cricket

IPL 2018: SWOT Analysis of the Mumbai Indians

IPL 2018: SWOT Analysis of the Mumbai Indians

Posted by: Suraj Shukla on February 6th, 2018

Mumbai Indians won the title in the 10th edition of the IPL by beating Rising Pune Supergiants. Their skipper Rohit Sharma was retained by the franchise along w ..

Football

India’s young journalist Ananya Kamboj participated in 2018 Football for Friendship Open Draw

India’s young journalist Ananya Kamboj participated in 2018 Football for Friendship Open Draw

Posted by: Vikram Kamboj on February 21st, 2018

Football for Friendship (F4F) Open Draw was held in Moscow on 15th February 2018. F4F is the International Children’s Social programme implemented by Gazp ..

Tennis

2018 Australian Open: Federer hikes towards his fourteenth semifinal at the Melbourne Park

2018 Australian Open: Federer hikes towards his fourteenth semifinal at the Melbourne Park

Posted by: Mahalakshmi Murali on January 25th, 2018

The 19-time Swiss legend, Roger Federer, cruised into the semifinals of the 2018 Australian Open by brushing past his longtime Czech rival, Tomas Berdych. The W ..

F1

Life Lessons learned from Sports & Fitness #TOSBDay

Life Lessons learned from Sports & Fitness #TOSBDay

Posted by: Vikram Kamboj on September 26th, 2016

Held on Sept 1st, The Outstanding Speakers’ Bureau (TOSB) Twinterview consisted of sports panelists such as Mark Gallagher (Public Speaker on F1 race), Shayam ..

Boxing

Anthony Joshua and Joseph Parker set for huge showdown

Anthony Joshua and Joseph Parker set for huge showdown

Posted by: Vikram Kamboj on February 15th, 2018

It looks like it will be a scintillating couple of months for fans of elite boxing. There is the prospect of the rematch between Gennady Golovkin and Saul ‘Ca ..

Other Sports

Anthony Joshua and Joseph Parker set for huge showdown

Anthony Joshua and Joseph Parker set for huge showdown

Posted by: Vikram Kamboj on February 15th, 2018

It looks like it will be a scintillating couple of months for fans of elite boxing. There is the prospect of the rematch between Gennady Golovkin and Saul ‘Ca ..

One stop guide to all the latest sports news, reviews, opinions, fixtures and live scores from India and around the world.

Copyright © 2017 | The Sports Mirror