Indian born Bahrain based investor Ahsan Ali Syed has completed the takeover of Spanish Primera Division side Racing Santander. No details of the deal have been released with speculations in the Spanish media saying that the deal could be worth as much as 40 Million Euros.
The official Statement said, "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."
Last year Ahsan Ali Syed had been one of the Indians interested in buying English Premier League club Blackburn Rovers, but it had not materialised and the Rovers were in the end sold to the VH Group of the Rao family. But Ahsan Ali Syed was still interested in buying an European club, so he was scouting for opportunities and finally it worked out with Santander.
Santander are currently 14th in the Spanish Primera Division with 20 points from 19 matches. What plans Ahsan Ali Syed will have with the club will have to be seen. The sale of Santander follows last years takeover of FC Malaga by a relative of the Al-Thani family. Some third and fourth division clubs have also been taken over by foreign entities.
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