5 takeovers that destroyed football clubs

It's true that a football club needs to have an efficient manager to achieve particular goals and targets. It is his meticulous approach and coaching style that ensures success on the football pitch.

However, club owners play a major part in shaping their respective clubs. Their financial support and management make a huge difference in the road to achieving the desired targets for a season.

Over the years, we have seen remarkable billionaires purchase clubs and establish them into footballing forces worldwide. Men like Roman Abramovich and Sheikh Mansour are the reasons why Chelsea and Manchester City have made a mark and are now seen as a part of Europe's elite clubs.

But, an improper management and a mindset that puts financial gain over silverware has seen a bunch of clubs being wrecked. Let's have a look at some of these unlucky places where certain takeovers have proven to be a bane instead of a boon.

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#5 Bulat Chagaev (Neuchatel Xamax)

Russian businessman Bulat Chagaev completed the takeover of Swiss side Neuchatel Xamax in May 2011. Little did the club know about the darkness the future had in store for it.

The Russian sacked four coaches in his first four months in charge of the club. Furthermore, he also sent his entire administrative staff packing along with the dismissal of every local sponsor of the club. Needless to say, the club suffered financially.

After sacking his entire coaching team following a 2-0 loss to Basel FC in June 2011, Chagaev burst into the dressing room to threaten his players after a 2-2 draw with bottom-placed club Lausanne Sport. On another occasion, he also terminated his goalkeeper's contract following a 3-0 loss.

Conditions didn't improve as September dawned, with Chagaev cutting ties with two of the largest supporters' groups who provided the necessary income for the club. With Neuchatel Xamax being declared bankrupt in January 2012, Chagaev was found guilty of embezzlement and tax evasion which subsequently led to his dismissal as the chairman of Xamax. Currently, he is serving a sentence in prison for his fraudulent activities.

In five years since his horrible tenure and departure, the club has shown improvement. At present, they are playing in the first tier of Swiss football.

#4 Massimo Cellino (Leeds United)

Massimo Cellinohas earned the moniker 'The Manager Eater'

When GFH Capital passed the reigns to Massimo Cellino in 2014, the Leeds United fans might have hoped for a brighter era. But, the Italian did nothing more than repeat his history at the club.

Cellino had been in charge of Italian outfit Cagliari for 22 years. In that tenure, he sacked a whopping 36 managers, thereby earning the moniker 'Manager Eater'. Also, he was charged with embezzlement issues regarding the construction of Cagliari's stadium.

Obviously, the Italian wasn't the best choice to restore Leeds to their former glory. Yet, GFH Capital agreed on selling 75% shares to Cellino's company, Eleonora Sports Ltd. in 2014. He promised promotion to the Premier League, only to fail in fulfilling it.

The Football League banned him from the chairmanship owing to the tax evasion cases he had to face in Italy. In 2015, however, Cellino was cleared to return to his position at the club.

At Leeds, Cellino sacked six managers in a period of two years, staying true to his aforementioned pseudonym. Also, he had a split with the club's star performer Sam Byram, who left after he was offered a contract with lower wages. He sold the club when it was in neck-deep in debts to Andrea Radrizzani in May 2017.

Once a club who were seen as Manchester United's fierce rivals, Leeds United are still struggling to book a way back to the Premier League.

#3 Ahsan Ali Syed (Racing Santander)

Racing Santander was destroyed by the mismanagement of Ahsan Ali Syed

'Why shouldn't it be the little club up on the Cantabria coast?'

Those were the words of Ahsan Ali Syed, who completed the takeover of Racing Santander in January 2011. Immediately after the deal, the CEO of Western Gulf Advisory had promised the fans of elevating the club to the stature of Real Madrid and Barcelona.

However, with the only signing of Giovanni Dos Santos from Tottenham on loan wasn't enough for Ali to fulfill his vows. To top the woes, Racing faced relegation after a decade in the Spanish top-tier in 2012.

The club changed three coaches as an after-effect of Ali's takeover and things began to spiral out of control, the exact opposite of what everyone had expected. Apart from the €50m he faked for transfers, the owner left the players waiting for their wages!

But, the players were robbed and the promises made to them were not fulfilled, as Ali disappeared after being found guilty of million-dollar scams and frauds. Coincidently, he had tried to purchase Blackburn Rovers but the English authorities denied him given his sordid past.

Needless to say, the club suffered a financial breakdown and never have been the same ever since. It is currently languishing in Segunda División B, the third division in the Spanish football pyramid.

#2 Karl Oyston (Blackpool FC)

Karl Oyston(L) has invested the profit in his personal family ventures

Everyone is well aware of a certain Blackpool FC who secured a surprise promotion to the Premier League in 2010. Three years later, Karl Oyston has done things that are quite the antonym of the club's motto - progress.

Karl Oyston has been on the hot seat at Bloomfield Road since 1999. Of course, the club rose to an unexpected level at the start of his stewardship, winning promotions until they played a season in the Premier League.

However, several financial issues have seen Karl Oyston standing at the gunpoint of the Blackpool fans. The English business has invested much of the club's profit in his personal family ventures. When it comes to using the money for player acquisitions in the transfer market, he prefers signing free agents regardless their quality, instead of spending cash.

In July 2014, the financial crisis saw their breaking point when 27 players left the club due to salary issues. Still, that failed to bother Oyston, who termed the juncture as a blessing in disguise.

"There is no panic. In fact, I see it as a benefit. It allows the manager to bring in his own team, as opposed to picking up a squad that is already overloaded and he doesn't think is good enough," Oyston stated, following the mass exodus of players.

Oyston's relationship with the fans deteriorated after he unceremoniously removed the statue of Stan Mortensen, a club legend and the only player to net a hattrick in an FA Cup final (1954). In the aftermath that followed, the supporters protested against the owner in a game against Huddersfield at halftime, compelling the referee to abandon the game.

Conditions have seen no improvement ever since, with Blackpool currently plying their trade in the fourth-tier after continuous relegations.

#1 The Venkys (Blackburn Rovers)

Balaji(L) and Venkatesh Rao(R) have owned Blackburn Rovers since 2010

Who else than Blackburn? Their story of fall from grace is nothing short of tragic, considering that they are the first Premier League champions to play in the third-tier of English football.

Their descent began when the Venky's, an Indian company from the poultry industry, purchased 99.9% of the shares, thereby becoming the sole owners of the club.

Blackburn had been a constant Premier League presence for eleven years before the Indian owners decided to splurge the cash on them. Apart from the fake promises they made like attempting to sign Ronaldinho, the Indians have destroyed the stability of the club by appointing seven managers since the ill-fated takeover. Also, the club has plunged into an ocean of debts of over $100 million.

With many of the fans blaming the owners for the downfall and Alan Shearer recently blasting them for their manhandling of the club, there seems no particular hope for Blackburn's revival.

For a club like Blackburn who once boasted the likes of Alan Shearer and Chris Sutton in their shirts, the spiral down the pedestal is nothing less than sorrowful.