[Archived] Ali Syed to buy Racing Santander

[Nate]

Investors Cry Foul

[Ricky]

Phil??? Any comments on this or not.

[yeti-dog]

Investors Cry Foul

Oh deary me...Philip,Id get your your coat if I were you,looks like even your spin might struggle to manipulate this...think we dodged a bullet big time there!!

[47er]

Both the Cathedral and Nightwatch received their funds.

Clearly Ali Syed cannot ignore those two web sites. I have run my basic analytic tools on both of them and it hasn't produced anything much except the host which is Godaddy Inc. Godaddy is a seriously big hosting provider and therefore very amenable to shutting down naughty domains.

If Ali Syed is for real, those sites at the very least will have new domain hosts within the next 48 hours and probably will have been shut down completely by legal action.

It is worth pointing out that Syed retained one of the most prestigious legal firms, the most prestigious banking advisors and the most prestigious financial PR firms in London. All of them will have done their own "know your client" checks before taking him on and they would have been extra thorough because of the Adrian Goldberg and Bahrain developments. None of them would have allowed their names to have been used by Ali Syed before satisfying themselves of his bona fides.

"If" Ali Sayed is for real? Rewriting history again? You were certain he was the real deal and campaigned to have him as our new owner. Looks like the Trust got something right.

[yeti-dog]

"If" Ali Sayed is for real? Rewriting history again? You were certain he was the real deal and campaigned to have him as our new owner. Looks like the Trust got something right.

Spot on 47er. I clearly remember Philip stated Ali Syed's funds were very real...it may well be but unfortunately it looks like it's all other peoples money!!!

[Tom]

To be fair to Philipl he would have good reason to believe Syed was legit as he proved he had some money, there were plenty more people with more reason to research him taken in by him. That is it turns out he is indeed dodgy.

[Bobby G]

I dont think Philipl ever said Syed had 8 billion but he was certain that there was something in the tune of 1 billion in liquid cash, and that he had set aside something into an account for Rovers, which supposedly the club had been aware of.

[47er]

I dont think Philipl ever said Syed had 8 billion but he was certain that there was something in the tune of 1 billion in liquid cash, and that he had set aside something into an account for Rovers, which supposedly the club had been aware of.

Never said he did but he did campaign vigorously for Ali to be given the nod as new owner, as did a few others. Glad the Trust didn't listen.

[deftangel]

The chap at 5 Live Investigates linked to these two pieces this morning;-

http://www.smh.com.au/business/investors-cry-foul-over-30m-lost-in-loans-scheme-20110302-1bddr.html

http://www.theaustralian.com.au/national-affairs/aussies-financier-western-gulf-advisory-accused-of-fraud/story-fn59niix-1226014420602

No real way of telling if they are based purely on (the still online) WikiFrauds or if they have done additional investigation of their own.

Syed's "prestigious legal firm" don't appear to be having much of an effect.

[Roost]

Just read those links - Jesus we had a close shave there.

[bazza]

Just read those links - Jesus we had a close shave there.

Yes, but is it "out of the frying pan into the fire"?

[BPF]

Like Philip, I saw the bank account.

At this moment I'm believing that we had a lucky escape with this one. Although I'm not sure all of the Trustees think that they made the right choice.

[Ricky]

Interesting to see your change in stance on this BPF, I know you were in the pro syed camp if that's a fair way to express it.

Phil, do you share BPF's concerns now or are you still of the view that syed was the better option?

[OJRovers]

BPF - So there was a bank account with the $1bn in it? Not just an 'bank' entry in the published accounts? Interesting.

[BPF]

I saw an account with a balance of one billion. It was E-mailed to me and had everything but names blanked out. I can't tell you anything but that.

Philip is far more of an expert on these matters than I am, but personally, I've had a massive change of opinion in regards to Uncle Ali.

[J*B]

The reality is that this whole Syed situation has proved to any doubters that Venkys where by far the best option available to the trust. They've got a long way to go, but with the right advice I'm still confident they'll come good.

[broadsword]

They don't listen to advice (alllegedly)!

[philipl]

Both the Cathedral and Nightwatch received their funds.

Clearly Ali Syed cannot ignore those two web sites. I have run my basic analytic tools on both of them and it hasn't produced anything much except the host which is Godaddy Inc. Godaddy is a seriously big hosting provider and therefore very amenable to shutting down naughty domains.

If Ali Syed is for real, those sites at the very least will have new domain hosts within the next 48 hours and probably will have been shut down completely by legal action.

It is worth pointing out that Syed retained one of the most prestigious legal firms, the most prestigious banking advisors and the most prestigious financial PR firms in London. All of them will have done their own "know your client" checks before taking him on and they would have been extra thorough because of the Adrian Goldberg and Bahrain developments. None of them would have allowed their names to have been used by Ali Syed before satisfying themselves of his bona fides.

The two web sites are still up.

There has to be something seriously amiss with a guy who can shift funds around of the size that Syed does but cannot get that material on a reputable large hosting company taken down by use of lawyers and injunctions.

I didn't see the document that BPF has seen (although I understand Rothschilds ticked the existence of £1bn+ which is a mind bogglingly impressive fraud if that is what it is!) but I have good reason to believe that the WGA Sports AG bank account in Switzerland did have title to £300m in deposits which Syed pledged to be used for the Rovers over the next 15 years. It does appear from Spanish reports that between £100m and £200m stayed there and is now for the benefit of Racing Santander.

We will see whether this Syed money starts to be used in this summer's window or if instead Syed does the financial engineering with Racing that those web sites are saying will be his game- always assuming that his collar is not felt in the meantime.

[DE.]

Lucky escape IMO. If Syed was legit those websites would be down by now.

[47er]

The two web sites are still up.

There has to be something seriously amiss with a guy who can shift funds around of the size that Syed does but cannot get that material on a reputable large hosting company taken down by use of lawyers and injunctions.

I didn't see the document that BPF has seen (although I understand Rothschilds ticked the existence of £1bn+ which is a mind bogglingly impressive fraud if that is what it is!) but I have good reason to believe that the WGA Sports AG bank account in Switzerland did have title to £300m in deposits which Syed pledged to be used for the Rovers over the next 15 years. It does appear from Spanish reports that between £100m and £200m stayed there and is now for the benefit of Racing Santander.

We will see whether this Syed money starts to be used in this summer's window or if instead Syed does the financial engineering with Racing that those web sites are saying will be his game- always assuming that his collar is not felt in the meantime.

So-------you were had and the Trust was right to reject his advances?

[sparkspakespoke]

I think the question you should ask philip is given that the trust we're clearlydesperate to sell, as proven by our owners now, is why they didn't sell to a guy who could show cleared funds of one billion?

This is far more important than the websites.

[sentient]

The reality is that this whole Syed situation has proved to any doubters that Venkys where by far the best option available to the trust. They've got a long way to go, but with the right advice I'm still confident they'll come good.

wow you're an optimist! may have been best option to the trust but to BRFC ....... ?

[J*B]

wow you're an optimist! may have been best option to the trust but to BRFC ....... ?

The trust didn't care about BRFC. They where willing to sell to the party which met JWs will, and who also who met their asking price. Out of all potential investors, Venkys was the best suitor.

Personally I'd have sooner it was Dan Williams a few years back. Not sure why.

[deftangel]

The trust didn't care about BRFC. They where willing to sell to the party which met JWs will, and who also who met their asking price. Out of all potential investors, Venkys was the best suitor.

Personally I'd have sooner it was Dan Williams a few years back. Not sure why.

Reading the offer document this was always very apparent to me. Walker stuff first, club second. The club related things were in rather more wooly language than the text describing how they will leave the statue in place, etc.

I think the real point is that Syed represented the best "fairy godmother" type owner, which says a lot about the number of suitable fairy godmothers willing to spend money on BRFC just because they liked the thought of owning a football club.

What we've ended up with instead are owners who see us as means to an end and the best we can hope for is that the differing goals of BRFC & Venky's are never-the-less aligned (i.e. Venky's benefit indirectly from the club being successful). Whether they were the best partner for that kind of joint venture remains to be seen.

[Alex Rover]

Interesting.