Is Billionaire Vincent Tan Planning To Sell His Football Clubs?

Rumour has it that Malaysian billionaire Vincent Tan is looking to sell one-time Premier League team Cardiff City as well as his stake in Major League Soccer’s Los Angeles FC and a number of professional clubs across Bosnia and Belgium which he owns.

Earlier this week, Bloomberg reported that the Berjaya Group Chairman and CEO has invested over £180 million (RM984 million) on Cardiff since purchasing the team in 2010. A source familiar with the matter told the publication that the asking price is currently around £50 million (RM273 million).

Cardiff chairman Mehmet Dalman told Bloomberg by phone that they “would entertain an offer but we’re in no rush to sell, nor do we need to sell.

However, in a contradicting report by WalesOnline, Dalman had responded negatively against rumours about Tan wanting to sell the club.

"That is absolutely off the table at the moment and I want to put the record straight,” said Dalman. "Somebody is being mischievous here. Just as we have got the club into a stable position, this has happened. Vincent is fully committed to football and the four clubs he owns, including Cardiff City.”

Image: SkySports

Cardiff fans haven’t been very pleased with Tan’s up-and-down ownership when the team was relegated to the second tier after being promoted to the Premier League for only one season. His decision to change the Bluebirds home jersey colour to red and altering the team’s logo also didn’t sit very well with the supporters.

Following such rumours and disputing reports, the businessman spoke up for the first time and said he is in no rush to sell the club, but he would consider it if he is offered a good price.

“I have always publicly said that except for my family, all my businesses are for sale at the right price. I do not fall in love with my businesses,” said Tan in a statement, as quote by BBC.

He also added that he sees his tenure with Los Angeles FC as a long-term investment and that his involvement with the Bosnian and Belgian clubs were "not substantial in comparison to CCFC (Cardiff) and LAFC (Los Angeles), and there is no reason to sell unless I am made an attractive offer."