22 Feb 2011

Foreign owner could take Phoenix to next level

4:41 pm on 22 February 2011

The financially-embattled owner of the Phoenix Football Club says a deal with an Indian businessman will take the Wellington Phoenix to another level.

Terry Serepisos has confirmed he is doing a deal for a $100 million loan from Bahrain-based investor Ahsan Ali Syed.

He says Ahsan Ali Syed, who would own half of the Phoenix, is a lover of sport who already owns a Spanish football team.

Serepisos says it would be in his interest for the Phoenix to potentially become a feeder club for Syed's club overseas.

The Indian tycoon purchased Spanish Primera Division club Racing Santander last month.