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SBD Global/December 30, 2013/Franchises

Cardiff City's Vincent Tan Takes Control Over Bosnian Premiere League's Sarajevo

EPL Cardiff City Owner Vincent Tan "has sealed an agreement to take over the control and management of Bosnia's Premier League football club Sarajevo," according to Daria Sito-Sucic of REUTERS. Sarajevo General Dir Dino Selimovic said, "We have signed an agreement which defines the investment and management rights in accordance to the club's statute and legislation that is in force in Bosnia." Selimovic "declined to provide details on investment," but local media reported that the Malaysian billionaire has pledged to invest 3M Bosnian marka ($2M). Tan, who has been in talks with the club's managers since last summer, "wanted them to draft a plan of the debt restructuring and a three-year investment plan" (REUTERS, 12/25). In London, Rob Burnett reported the deal "is thought to include an agreement to allow players to be exchanged between Sarajevo and Cardiff." Tan: "We plan to play friendly games, exchange players, organize joint training camps and marketing campaigns" (DAILY MIRROR, 12/25). The London GUARDIAN reported Sarajevo, established in '46, has "faced bankruptcy over millions of marka in accumulated debt." Local media reported that Tan "would not change the Bosnian club's badge and colours, as he did at Cardiff, angering fans" (GUARDIAN, 12/25).
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