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
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: Ahsan Ali Syed, Economic Times, Football, Indian Businessman, La Liga, Racing de Santander, Spain, Spanish Club
