Vincent Tan planning to sell football clubs, says report

vincent-cardiff-cityPETALING JAYA: Billionaire Vincent Tan is rumoured to be looking to divest his football investments across four countries, Bloomberg reported today.

The Berjaya Group chairman, who bought over Cardiff City in 2010, when they were in the second tier of the English football league, also owns professional football clubs in Bosnia and Belgium, as well as a minority stake in Los Angeles FC, a team that plays in the United States’ Major League Soccer (MLS).

However, rumours of the sale was promptly dismissed by Cardiff City chairman Mehmet Dalman, who told Sky Sports that Tan remains fully committed to his four football club franchises.

Interestingly, Mehmet had earlier told Bloomberg by phone: “We would entertain an offer but we’re in no rush to sell, nor do we need to sell.”

Quoting people familiar with the offerings, Bloomberg said Tan was looking to sell Cardiff City, which enjoyed one season in the lucrative English Premier League in 2013-2014, for around £50 million (RM275 million).

Cardiff City fans have been at odds with Tan since he changed the logo of the team as well as the home colours of the team jersey in 2012.

However, promotion to the Premier League in 2013 did appease some supporters, but the relationship went downhill when the club was relegated after just one season in the top tier.

The club currently sit in the middle of the second tier English Championship league.

According to the source, Tan has spent more than £180 million on the Welsh club, including the original purchase price. Cardiff City’s latest financial reports for the year 2015 reveal an £8 million loss on revenue of £38 million.

Meanwhile, LAFC executives declined to comment on the reported sale of Tan’s minority investment. FK Sarajevo and KV Kortrijk did not respond to emails seeking comment, the report said.