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Takeover Update

Guest Kamy100

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Over the last week or so there has been significant speculation regarding the takeover of Blackburn Rovers. We will try and clarify things as they stand.

BRFCS understands that Syed Ali remains in contention to purchase Rovers and that Rovers are waiting to talk face to face with Mr Ali and his team. Once these talks have taken place, then it will become clearer whether Mr Ali's bid to purchase Rovers is likely to be successful. It is thought that these talks are due to take place in the very near future. It is also important to point out that there have been no direct talks between Mr Ali's representatives and the club since the signing of the exclusivity agreement.

BRFCS also understands that there are other interested parties. There is the well-documented interest from Saurin Shah, who has told the Lancashire Telegraph that he is waiting to see how other bids develop before committing to due diligence.

BRFCS has also learnt about very strong interest from another party, with indications that this group is also from India. At the moment it is not prudent to name this party. However, speculation linking Mukesh Ambani to the club is premature - Mr Ambani's spokesperson has confirmed that he is not interested in purchasing a football club at the moment.

BRFCS understands that this unnamed party has entered into the due diligence process, but club sources have stressed that it is important to understand the nature of due diligence. A party can, of course, agree to enter due diligence and complete it in any given timeframe as they see fit. However, it is now known that to enter due diligence in the current negotiations there is a fee of £250,000. Now, this may seem significant but it does not need to be paid up front. There are varying levels of due diligence that a party can enter, and the fee is only payable when the party gets to a certain level of due diligence.

These are exciting times for Rovers fans, and we at BRFCS will try and keep you informed of any developments.

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