Tan expanding his empire in Europe

21 July 2013 11:36
Links with new football clubs and an attempt to buy a car dealership in London.

Cardiff City backer Vincent Tan is in talks to buy two overseas clubs – and has already agreed a player link-up with one - writes Wales Online.

The Malaysian millionaire was in Bosnia this week to announce a co-operation agreement with FK Sarajevo and the Bluebirds which will see “mutual player exchange” arrangements.

Cardiff are keen to point out the scheme was designed more for youth players than seeing senior imports or first-team squad members heading to Europe for experience.

But reports on the continent have also suggested Tan is ready to make a financial investment in the Europa League Bosnian side, with one official admitting the Cardiff majority shareholder has expressed an interest to buy the club.

Furthermore, it has been claimed Tan is also in talks to take over Croatian club HNK Dubrovnik.

Full article from WalesOnLine here

Cardiff Chief Exec Simon Lim said to www.cardiffcityfc.co.uk

“Tan Sri Vincent Tan’s links to Bosina and Herzegovina came via encouragement  from both the former and current Prime Ministers of Malaysia, Tun Dr. Mahathir bin Mohamad and Dato Sri’ Najib  Abdul  Razak respectively, to invest in Bosnia,” Simon explained. 

“Based on Tan Sri Vincent Tan’s success with Cardiff City Football Club generated from football at grass roots and Academy level, Tan Sri Vincent Tan recently decided to forge links with FK Sarajevo, in particular with a view to help them establish a new modern Youth Football Academy at FK Sarajevo. 

“A Memorandum of Understanding (MoU) was signed on Sunday 14 July 2013 between the two clubs whereby Cardiff City FC agreed to help set up and run a Youth Football Academy at FK Sarajevo, to provide technical assistance and arrange friendly matches, including matches between the two Youth Football Academies and Commercial cooperation.” 

“The MoU will precede the signing of a formal contract between the two clubs, most likely within a month.”

Meanwhile the London Evening Standard reports

One of London’s oldest car dealerships today urged shareholders to reject a £32.5 million offer for the business from Malaysian billionaire and owner of Premier League football club Cardiff City Vincent Tan.

HR Owen, which opened for business in Mayfair more than 80 years ago, fended off the 130p-a-share offer from Berjaya Philippines, describing it as “inadequate and at a level which materially undervalues the company”.

Berjaya Philippines is a subsidiary of Tan’s Malaysian-listed conglomerate Berjaya Corporation Berhad, which has wide-ranging interests in gambling, hotels and property as well as the distribution of marques such as Aston Martin and Mazda. Chief executive Tan is worth $1.3 billion (£857 million), according to Forbes.

Shares in Owen have more than doubled in the past year and it recently upgraded profit hopes on booming Rolls-Royce and Bentley sales. Berjaya lifted its stake in the dealership to 29.9% two months ago and believes there is scope to expand.

Source: Cardiff City Online