Report: Crystal Palace deny takeover talks with ex-Manchester City owner

Report: Crystal Palace deny takeover talks with ex-Manchester City owner
Top-flight English soccer club Crystal Palace have denied that they are in takeover talks with former Manchester City owner Thaksin Shinawatra, according to the Evening Standard.

The former Thai Prime Minister, who has been living in exile since being found guilty of corruption in 2008, was linked with a move for the Premier League outfit earlier this week when Miti Tiyapairat, ex-president of Thai club Chiangrai United, claimed to be in talks with Palace.

“Currently, there are negotiations about price, management, and some other details, which should be ironed out soon. The deal is about £150 million,” Tiyapairat told the One31 TV network.

When asked about Shinawatra’s potential involvement, Tiyapairat added: “I am up for the task. They [Palace] are in another class, another standard, but it would still be a pleasure for me, and for Thais, to own a world-class football club.”

However, the Standard’s report says Palace have received no contact from Shinawatra, who sold Premier League champions City to investors from Abu Dhabi United Group in 2008 for a reported UK£200 million.

Despite denying talks with Shinawatra, the Standard added that Palace Co-Owner and chairman Steve Parish is open to new outside investment in the South London club.

Parish is apparently not actively looking to sell Palace, but is willing to enter negotiations with investors that are serious about buying a stake in the club.

Any potential investment would bolster the Palace’s planned UK£100 million redevelopment of Selhurst Park, which will increase the stadium’s capacity from 26,000 to more than 34,000.

Reports linking Palace with fresh investment come just over two months after Bloomberg claimed that Joshua Harris and David Blitzer, the club’s Wall Street-based Owners, are looking to sell their stake just three years after investing in the team.

The Americans, who also own the National Basketball Association’s (NBA) Philadelphia 76ers and the National Hockey League’s (NHL) New Jersey Devils through their Harris Blitzer Sports & Entertainment company, acquired stakes in Palace in late 2015. Along with Parish, the two men each own an 18 per cent controlling share in the club.

Harris’ Apollo Global Management investment vehicle has now been linked to a takeover of second-tier Spanish side AD Alcorcón, who are currently owned by Belgian businessman Roland Duchatelet.

According to Marca, Apollo will assume control of the Segunda División side at the end of June. It is currently unclear what Harris’ potential investment in AD Alcorcón could mean for his involvement with Palace.

Palace finished the 2018/19 season with an entertaining 5-3 win at home to Bournemouth on Sunday, securing 12th position in the Premier League table.

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