Deals
Embattled Millionaire Plans to Sell Football Teams
- Tan said to be shopping Cardiff City, MLS Los Angeles share
- Bluebirds fans irked by jersey color change from blue to red
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Embattled soccer owner Vincent Tan is throwing in the towel. The Malaysian businessman is selling the one-time Premier League team Cardiff City and his stake in Major League Soccer’s Los Angeles FC, as well as professional teams in Bosnia and Belgium, according to people familiar with the offerings.
Tan, who leads the Malaysian conglomerate Berjaya Group, has grown increasingly unpopular with Cardiff fans since buying the team in 2010. Under his ownership, the team was promoted to the Premier League, then relegated to the second division again, where it’s currently in the middle of the table. Fans also howled at some of Tan’s efforts to raise the team’s global profile, including changing the color of the Bluebirds home jersey to red.