By David Gold
June 8 – Racing Santandar have been forced to appeal for help from their regional Government and the previous owners as fears grow over the commitment of Indian owner Ahsan Ali Syed.
Syed’s Western Gulf Advisory bought the club in January and promised significant investment, even insisting that Racing could compete with giants Barcelona and Real Madrid.
However, part of the takeover included pledges to settle €22.5 million (£20 million/$31.6 million) worth of debt, but as fears arise that Syed will default on the latest payment, having done so last month as well, Racing are keen for the Government to guarantee a loan to ease their financial concerns.
Club president Francisco Pernia said: “The club has shown more than enough patience.”
Director general Roberto Bedoya added that the situation was becoming urgent and that the Government needed to act to prevent the crisis from worsening.
Racing finished 12th in La Liga last season, but coach Marcelino Garcia left this week to join La Liga rivals Sevilla.
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