A story has appeared in Bloomberg markets that Tan is looking to offload all his football assets.
Not sure what to make of this.
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A story has appeared in Bloomberg markets that Tan is looking to offload all his football assets.
Not sure what to make of this.
Mustachioed Malaysian Millionaire
The source for the story is unnamed 'people familiar with the offerings.'
"We would entertain an offer but we’re in no rush to sell, nor do we need to sell," Mehmet Dalman said by phone.
I suspect it isn't an overnight decision and the club needed stabilising first on the pitch which NW seems to have done.
We are a lot more marketable now than we were 3 months ago.
He's testing the water whilst keeping us all guessing.
Not really surprised tbh.
Mustachioed Malaysian Millionaire Said to Sell Soccer Stakes
by Tariq Panja and Eben Novy-Williams
February 28, 2017, 5:12 PM GMT
--Tan said to be shopping Cardiff City, MLS Los Angeles share
--Bluebirds fans irked by jersey color change from blue to red
Embattled soccer owner Vincent Tan is throwing in the towel. The Malaysian businessman is selling the one-time Premier League team Cardiff City and his stake in Major League Soccer’s Los Angeles FC, as well as professional teams in Bosnia and Belgium, according to people familiar with the offerings.
Tan, who leads the Malaysian conglomerate Berjaya Group, has grown increasingly unpopular with Cardiff fans since buying the team in 2010. Under his ownership, the team was promoted to the Premier League, then relegated to the second division again, where it’s currently in the middle of the table. Fans also howled at some of Tan’s efforts to raise the team’s global profile, including changing the color of the Bluebirds home jersey to red.
Including the purchase price of the team, Tan has spent more than 180 million pounds ($220 million) on Cardiff, said one of the people, who asked to be anonymous because he was not authorized to discuss the matter publicly. The club lost 8 million pounds on revenue of 38 million pounds in 2015, according to its most-recent financial report.
Tan is said to be looking to sell Cardiff City for around 50 million pounds. In July, China’s Fosun International Ltd. paid about 45 million pounds for Wolverhampton Wanderers, who are currently 11 points behind Cardiff City. Tan would also consider selling his soccer portfolio as a whole, said one of the people.
"We would entertain an offer but we’re in no rush to sell, nor do we need to sell," Mehmet Dalman, a former board member of Commerzbank AG who’s Cardiff chairman, said by phone. LAFC executives declined to comment. FK Sarajevo and KV Kortrijk did not respond to emails seeking comment.
Led by Larry Berg, Brandon Beck and Bennett Rosenthal, the ownership group of the Los Angeles Football Club paid MLS $110 million to put a second club in the nation’s second-biggest media market, part of the league’s overall expansion to 28 clubs. Tan is one of a handful of minority shareholders and isn’t involved in the daily operation of the franchise.
LAFC owners are also paying for the team’s new $350 million stadium in South Los Angeles, which is scheduled to open in time for the club’s 2018 debut.
The average MLS club is worth about $185 million, up 80 percent from 2013, according to annual valuations by Forbes Magazine.
Who's gonna wanna buy a championship club that's in 100million plus debt or whatever it is? He's stuck with us just like we are stuck with him
What will Neil Warnock make of this? We are at the start of something good.
If there is any legs in this, I wonder what NW thinks, only a day or two after agreeing a contract extension, presumably based on some assurances made by a fella who is supposedly 'suddenly' on his bike?
That article is rather uninformed regards the current mood of City fans.
The Red has been long corrected and the fan base are happier than they have been for absolutely ages.
Perhaps that's the trigger. Or maybe the 'fans unrest' is being used as an excuse.
Or ..it's all nonsense.
Well we should soon find out as I am sure that if it is not true we will get an immediate denial.
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Cardiff City chairman Mehmet Dalman has denied this story saying it is "mischievous" and VT has no plans to sell club. <a href="https://t.co/ChjILtwOwh">https://t.co/ChjILtwOwh</a></p>— Rob Phillips (@robphillipshere) <a href="https://twitter.com/robphillipshere/status/836642873269440512">February 28, 2017</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
FAKE NEWS?
Seems a logical option , business men continually buy and sell when the markets or circumstances are right .
Gunman Hammam joint bid uPDaTe
Donald Trump is going to be furious with this.
FAKE noooz, FAKE nooooz.
On we go.
I really hope it is not true. I can't think of anyone who'd be any better for us right now. I don't want mega-bucks invested by a new 'caring' owner - I want us to build the club properly now and Tan shows every sign at present of finally understanding and doing things properly.
We've never had a properly run club in all the years I have followed Cardiff. Right now is the most solid this club has felt in my lifetime, including the early Tan years where it all felt built on sand.
Since62 on the other board has it spot on in my opinion.....
wez wrote:
Vincent Tan is not looking to sell Cardiff City – despite claims the Bluebirds' Malaysian backer was ready to cash in on the club.
And instead sources close to the Cardiff owner is said he's fully on board to give manager Neil Warnock his backing for a promotion bid next season.
A report emerged in America that Tan was looking to offload his stake in Cardiff, as well as his shares in 'sister clubs' KV Kortrijk in Belgium and FK Sarajevo in Bosnia, as well as his minority holding in new MLS franchise LAFC.
The report stated that Tan was seeking £50m for the club he bought in 2010 and has subsequently put more than £150m into the club. Its debts to Tan in the most recently available accounts stood at more than £100m, though Tan has begun a process of writing off that amount following a pledge to make the club debt-free by 2021.
Vincent Tan is flying into London to watch the Bluebirds
The report also contains a quote from Cardiff chairman Mehmet Dalman saying that the club would “entertain an offer” before adding that the club were not in a rush nor in a need to sell. Dalman has denied the story.
Since62
I wonder which individuals with links to the club, either current or in the recent past, would want to try and cause harm to it by spreading false rumours in the media?
Interesting reading the Message Boards since the initial news story broke how little appetite there actually now is to see VT leave - even among the usual Anti Tan Suspects. My initial reaction was that if true this would potentially be a de-stabilising disaster for our football club at this time.
Vincent has made mistakes - which of us haven't - but for reasons of debt reduction, transfer budget and overall stability I'm more than happy for him to keep ownership for the foreseeable future.
You only have to see what is going on at some of the clubs in the Championship with new owners who authorise £10 million plus signings to see that the grass isn't always greener on the other side. However, it's now over a year since we were told that £68 million was going to be converted from debt to equity with "immediate effect"
http://www.walesonline.co.uk/sport/f...-debt-10875878
The club say that the delay is down to how slowly it's taking to get Malaysian Government approval for the move and it should be said that other, smaller, conversions have gone ahead as promised, but I don't think you can blame some of us for at least starting to wonder whether the larger one will ever go through.
I would like the fans to reconcile our differences with Tan and him to get his money back and be able to watch us in the premier league.
I don't think he's ever been malicious, I just think his ideas ever worked