By Jason Theodorou

Indian businessman Ahasan Ali Syed has made a formal approach to Rothschild, the advisors of the Blackburn Rovers football club, to buy the club and pay off any remaining debts. The Jack Warner Trustees are open to a sale, which would also provide investment for players and the club’s infrastructure.

Mr. Syed plans to fund his bid through family funds, channeled through the Western Gulf Advisory company. He intends to complete a sale by September, which would involve clearing the club’s £20 million debts and offering a payment to the Walker Trust for their equity in the club.

Mr. Syed is believed to have considered other football clubs for investment, but chose Blackburn Rovers because it resembles other businesses that have thrived when taken over by WGA.

Blackburn Rovers chairman John Williams said earlier this month that there had been 'a number of interested parties for some time', despite the club making no official comment on WGA's interest. In June, businessman Saurin Shah said he was interested in buying the club, but this offer was not followed up.

WGA is believed to have £8 billion in assets, and recently took a 50% stake in Irish builders company McCabe. The investment would help Blackburn to recover from ongoing difficulties, with a £6.5 million loss last year on turnover of £50.9 million.