LONDON: Blackburn Rovers could be the latest English club set for a takeover after Indian entrepreneur Ahasan Ali Syed made a formal approach to the club`s advisors, it was reported Wednesday.

Owned by the trustees of the late Jack Walker, Blackburn currently have debts of around 20 million pounds (32 million US dollars) and are among several clubs involved in an annual battle for a place in the top half of the Premier League table.

According to the Daily Telegraph Syed, 36, the head of Bahrain-Swiss based investment firm Western Gulf Advisory, is proposing wiping out Blackburn`s debts and investing heavily in the club to help turn around its fortunes.

Syed is reported to have approached Blackburn`s advisers, Rothschild, and is set to launch a 300 million pounds takeover bid that would lift the club back towards their title-winning status of 1995.

Blackburn declined to comment on any potential takeover, saying the matter was in the hands of Rothschilds, although the report added the club was "interested in the approach".

The BBC website meanwhile reported Blackburn as saying they were in talks with a "number of interested parties" about a possible takeover, according to chairman John Williams.

"There have been a number of interested parties for some time and discussions are ongoing," said Williams.

In June it was reported that another Indian entrepreneur, Saurin Shah, was preparing to bid for the club.

Currently, nine English Premier League clubs are in foreign hands—Arsenal, Aston Villa, Birmingham, Chelsea, Fulham, Liverpool, Manchester United, Manchester City and Sunderland.

Liverpool have been on sale since April by US owners Tom Hicks and George Gillett, leading to reports on Monday they could be bought by a Chinese business tycoon, Kenny Huang, within days.

BDST: 1742HRS, August 4, 2010