Santander board quits club

La Liga crisis club Racing Santander has suffered a fresh setback after its entire board, with the exception of owner Ahsan Ali Syed, resigned.

Syed bought the club in January but his tenure has been controversial. Racing applied to the courts in July to enter voluntary administration amid debts in excess of Eur33 million. The club finished 12th in La Liga last season, but has found itself in serious financial difficulties following Syed’s takeover.

The Indian businessman, founder and chairman of investment company Western Gulf Advisory, had previously failed with a move for English Premier League club Blackburn Rovers before completing a deal for Racing. Club president Francisco Pernia, who angered the club’s fans last week after revealing on Spanish radio that he had bought a luxury car at the club’s expense, is one of the executives to have resigned.

The club, which picked up its first win of the season with a 1-0 victory against Real Betis on Sunday, has stated it will move quickly to appoint a new board. “Members of the Racing Santander board (with the exception of the WGA company, represented by Ahsan Ali Syed) have decided to tender their resignation,” read a club statement. “The motive for this decision is to avoid placing the club in a situation of conflict and tension that could jeopardise its unity.”

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