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Racing Santander's Juan Valera celebrates a goal during a UEFA Cup match against Manchester City. Picture: Juan Manuel Serrano Source: NewsIndia24 |
INDIAN tycoon Ahsan Ali Syed has bought indebted Spanish football club Racing Santander, his Bahrain-based company announced yesterday.
The deal was confirmed after it won official approval, the statement said.
"I am excited and proud to be the new owner", the statement quoted Syed.
It said the acquisition is part of Syed's long-term investment in sporting ventures.
No figures were given in the statement, but El Diario Montanes, a regional paper in Cantabria, has put the price at up to $54.76 million.
Syed becomes the second foreign magnate to own a Spanish club along with Qatar billionaire Abdullaha bin Nasser Al-Thani, who bought Malaga in May for $34.2 million.
The Indian businessman made a bid in August last year for English Premier League club Blackburn Rovers but failed to reach agreement.
Syed had announced on Thursday that he was planning to purchase Santander.
"Sport has always been a good investment opportunity; especially if it is combined with passion and dream," he said.
