The club confirmed on Tuesday that talks were being held with Syed, a 36-year-old entrepreneur who hopes to take control of Blackburn in the next month.
"Blackburn Rovers can confirm that officials have held a cordial and productive meeting with Western Gulf Advisory (WGA) staff and advisors concerning a proposed takeover of the club. The process is ongoing," it said on its website.
Ali has pledged to give Rovers boss Sam Allardyce a £100 million transfer kitty to drive the Lancashire club to the upper echelons of the Premier League and European football.
Speaking to The Times Ali said: “I want to give him [Allardyce] support financially so that he can perform wonders.”
The total investment could reach £300 million with Ali outlining a 15-year business plan which would see substantial development in players, the stadium, training facilities and Blackburn’s youth academy.
“There are two ways to look at investment: one for personal satisfaction, the other for the satisfaction of your balance sheet. This is personal satisfaction. I have worked hard enough and I deserve to treat myself,” he said.
Ali said: “I want to make the club more known and continue the legacy of ‘Uncle Jack’. I would love to see them as champions again.”
