Bhongir's Ahsan buys Spanish football team

S.A. ISHAQUI with agency inputs from Madrid

Hyderabad, Jan 22: Mr Ahsan Ali Syed, a rather mysterious businessman who claims to be a native of Bhongir town of Nalgonda district, has bought up the well-known Spanish football club Racing Santander, for about $54 million.
Mr Syed, founder of Bahrain-based asset manager Western Gulf Adviso

ry, had tried to acquire the English Premier League club Blackburn Rovers last year, but did not succeed “Football is not just an investment for me but also a personal passion,” he was quoted as saying. “For that reason it has always been a dream of mine to own a football club and see my team play.” However, the ‘Indian tycoon’s’ antecedents seems wrapped up in mist.

Inquiries by Deccan Chronicle revealed that Mr Syed had lived for some time in Purani Haveli area in Old Cty of Hyderabad.

Before he left abroad about 18 years ago, he sold off the house. Local residents of Purani Haveli were surprised to hear about his pur chasing a Spanish football club and said he did not seem to be a rich man when he was staying there.
"I know very well he did not have land in Bhongir and he was depending on others for his financial needs when he was staying here," said a resident.

However, according to another version, Mr Syed's family had lands in Bhongir area that were sold off in 2004.

A prominent Western media entity that probed his claims of being born to a rich farmers’ family in Bhongir also drew a blank.

It also found out that Mr Syed had taken over companies and then dissolved them without bothering about the staff.

Authorities in the UK, Canada, as well as in Bahrain are probing him over unpaid taxes.

“The deal would be carried out through Dutch holding company WGA Sports Holding, B.V,” Mr Syed was quoted as saying.