Is Thailand’s Thaksin Shinawatra about to buy Crystal Palace?
- The exiled former leader of Thailand has been linked to the English Premier League team in a deal worth US$194 million
- But the club has reportedly said it is not in takeover talks with the billionaire
After news emerged that former Thai prime minister Thaksin Shinawatra had opened negotiations to buy English Premier League football club Crystal Palace for £150 million (US$194 million), the club has denied they are in takeover talks, according to further reports.
The Evening Standard on Tuesday reported Crystal Palace had denied being in contact with Thaksin, who previously owned Manchester City.
Steve Parish, the club’s co-owner and chairman, was open to new outside investment though, the article said. Parish has been seeking to raise finances for the redevelopment of Crystal Palace’s home ground at Selhurst Park.
In 2008, Thaksin, now 69, sold Manchester City, to Sheikh Mansour of Abu Dhabi in a deal worth an estimated £210 million. Thaksin had bought Manchester City just one year earlier for £81 million.
Initial reports also suggested Miti Tiyapairat, the son of a former speaker in the Thai parliament and long-time Thaksin ally Yongyuth Tiyapairat, could be brought in to run the club.
“There have been negotiations about price, management, and some other details, which should be finalised soon. The deal is about £150 million,” Miti, 33, reportedly told the television channel ONE31.