Blackburn Rovers who have long struggled to keep their heads above water in the Premier League are reported to be the subject of a £300m takeover bid by a Indian businessman.
Ahasan Ali Syed, the head of investment firm Western Gulf, which is based in Bahrain and Switzerland, has made an approach to the club's advisers, Rothchilds, with a view to buying Rovers, clearing their debts and giving manager Sam Allardyce the funds to bring in new players.
Rothchilds has alerted the trustees of the late Jack Walker's estate, who still have a huge influence on the club. Two years ago the estate made it clear it was no longer in a position to underwrite the club indefinitely. Walker, a life-long Rovers fan, bankrolled the club to the 1995 Premier League title under manager Kenny Dalglish.
Syed, 36, is the sole heir to the family business which has its origins in the East India Company. He was educated in London, is a qualified lawyer and owns racehorses in Bahrain.
He is understood to have singled out Blackburn because of their potential for growth. He wants a deal to be agreed this month and the sale completed in September.
Earlier this summer, another bid from India tabled a £25m bid, offering to tap into Blackburn's large Asian population.