Bolton Wanderers are the latest club to be targeted for a possible foreign takeover. Chairman Phil Gartside has flown to Thailand for talks with entertainment company BEC-Tero and sports media giant Siam Sport Syndicate who are interested in making a joint bid. They are thought to value the club at around £40m.
Bolton Wanderers are the latest club to be targeted for a possible foreign takeover. Chairman Phil Gartside has flown to Thailand for talks with entertainment company BEC-Tero and sports media giant Siam Sport Syndicate who are interested in making a joint bid. They are thought to value the club at around £40m.
BEC-Tero own a Thai Premier League club BEC-Tero Sasana FC which they renamed after taking the club over. Siam Sports Syndicate also own a club called Muanthong United, reputedly one of the richest in Thailand.
Quite what they would do about the club’s debt pile is unclear, but it is possible that owner Eddie Davies would be prepared to write off some of the debt as part of a deal.
Bryan Marcar, BEC-Tero managing director, is quoted in the Thai press as saying: “As for the bid to take over Bolton, 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.
“In terms of their financial status, they made profits between 2004 and 2006, but suffered losses since then, with their debt now standing at £150m.
“They’re quite ready in almost every aspect. That will help us benefit in many ways, especially when it comes to Thai players playing in England.”
Leicester City’s Thai owners had the primary objective of getting the club into the Premier League, but there has been speculation that one of the motives for this bid may be the use of the ground as a concert venue.