Cardiff City Chairman Mehmet Dalman today dismissed newspaper reports that the Premier League soccer team is planning a stock exchange listing next year.
The Wales-based team, playing in England’s top flight this season for the first time since 1962, is owned by Malaysian Vincent Tan, and yesterday Singapore’s Straits Times reported the owner was mulling floating the club in the second half of
“I wouldn’t believe everything you read,” Dalman said in a telephone interview. “There’s absolutely no basis to it. It’s not on my agenda.”
Dalman, a former board member of Commerzbank AG who was named Cardiff chairman in July, said he could see the rationale behind a listing but “I just don’t see any need.”
The team would be listed on either the Malaysian or Singaporean exchanges, the newspaper said.
At the start of the season, the Bluebirds were rated third favorites by bookmakers Ladbrokes, William Hill and Paddy Power to return to the second-division Championship. After eight games, Cardiff is 17th out of 20 teams, though it’s only three points behind last season’s champion Manchester United in eighth.
Cardiff’s arrival coincided with the start of the Premier League’s new television contract, the richest in soccer, which guarantees the lowest-ranked of the division’s 20 clubs about 60 million pounds ($97 million).
Most Premier League teams are privately held. Manchester United raised $233.3 million in a U.S. initial public offering last year.