Malaysian Vincent Tan to invest in LA-based MLS club

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http://www.channelnewsasia.com/news/sport/football-vincent-tan-to/1441338.html

The Malaysian owner of English Championship club Cardiff City, Vincent Tan, revealed that he will be investing in a Major League Soccer (MLS) club based in Los Angeles, while keeping his eyes open for an opportunity to invest in another European club.

According to a Sports Illustrated report in late September, Mr Tan is part of an ownership group that will acquire a team in Los Angeles which will replace Chivas USA.

The fee for the LA team, which will likely play its first match in 2017, is believed to be in excess of US$100 million. It will be an expansion team in MLS, and Chivas USA will be dissolved, according to the report.

Mr Tan also said he is exploring opportunities to invest in another European football club. However, he said he has “gotten smart” after he “got cheated” in his first foray into football ownership - the purchase of Cardiff City, a deal which he said he got into “by accident”.

Referring to a report by USA Today which called him the “worst owner in sports”, Mr Tan sarcastically applauded the “fantastic feedback”, and added he will be issuing a lawyer’s letter to the US news media outlet. “I’ll be waiting for an apology,” he said.

“I have lost enough money to have learnt how to earn money in football. New investors like me want to disrupt the football industry and I believe I will make money - it just needs time,” Mr Tan said.

The Malaysian also owns Bosnian club FK Sarajevo.