La Liga crisis club Racing Santander has suffered a fresh setback after its entire board, with the exception of owner Ahsan Ali Syed, resigned, reports Sport Business The Indian businessman, founder and chairman of investment company Western Gulf Advisory, 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, 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."