A Thai consortium is in discussions over a £40 million (HK$500 million) takeover of English second tier strugglers Bolton Wanderers after being approached by the cash-strapped club, local media reported on Wednesday.
BEC-Tero, an entertainment conglomerate which runs television and radio stations in Southeast Asia as well as concerts and sports events, and local sports media giant Siam Sport Syndicate have joined hands for the bid, The Nation newspaper reported.
Bolton finished sixth in the Premier League in 2005 and qualified for European competition, but have fallen on hard times of late and now find themselves in 22nd place in the 24-team second flight with huge debts.
The club has plenty of property, and most importantly, they have their own stadium, hotel and football academy
However, BEC director Bryan Marcar said the club, based in the northwest of England and owned by Eddie Davies through the holding company Burnden Leisure, remained an attractive prospect.
"I must admit I have a close relationship with the club's president. The club has plenty of property, and most importantly, they have their own stadium, hotel and football academy," he was quoted as saying by the daily.
"In terms of their financial status, they made profits between 2004 and 2006, but suffered losses since then, with their debt now standing at £150 million. However, the club is willing to address this situation."
Marcar said he and Siam Sport executives Pongsak Pholanan and Wiluck Lohtong would travel to England to look into the books and discuss the deal further with Bolton officials, the report added.