Spanish club Santander goes to Indian Ali Syed - Hindustan Times
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Spanish club Santander goes to Indian Ali Syed

IANS | By, Madrid
Jan 21, 2011 03:05 PM IST

Indian businessman Ahsan Ali Syed is close to buying Spanish football club, Racing Santander for a reported 30 to 40 million euros.

Indian businessman Ahsan Ali Syed is close to buying Spanish football club, Racing Santander for a reported 30 to 40 million euros.

The deal between Ali Syed and the La Liga club could be inked on Monday, Spanish daily El Diario Montanes reported.

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"After studying options in different countries in the past months, we know that Racing fits our strategy because it is a well managed club and has great long term potential," Ali Syed said in a statement.

After the buyout, the tycoon intends to invest 90 million euros in the next five years.

"Sport has always been a good investment opportunity, especially if it is combined with passion and dreams. Football is not just an investment for me but also a personal passion. For that reason it has always been a dream of mine to own a football club and see my team play," he said.

If the deal is through, Ali Syed would become 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.

The Racing Santander is currently at 14th position in the La Liga standings.

Ali Syed, who owns Western Gulf Advisory based in Bahrain and Switzerland, made a bid in August last year for English Premier League club Blackburn Rovers, but failed to reach agreement in negotiations.

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