Yesterday morning, reports appeared suggesting that the disgraced former Prime Minister of Thailand and owner of Manchester City Thaksin Shinawatra was lining up a possible takeover bid of Crystal Palace but now, just 24 hours on, it looks like the story is dead in the water.
According to this report from The Evening Standard, whilst Steve Parish and his fellow directors remain open to the prospect of “outside investment” any talk of Shinawatra actually firming up interest with a serious proposal is nothing more than a fabrication.
With Palace still pressing ahead with plans for the redevelopment of Selhurst Park, not to mention improvements to the club’s academy facilities, any funds they can lay their hands on will be greatly appreciated but not at the cost of overall control at boardroom level. Indeed, Parish retains power behind the scenes despite the funding boost provided by American duo Josh Harris and David Blitzer, with any further involvement from outside parties likely to follow a similar path.
Whether or not Harris and Blitzer will now look to actively offload their share in the club remains to be seen but after getting involved, word seems to be spreading to suggest that it hasn’t exactly panned out as they’d first hoped, leaving a potential deal ready and waiting. Thanks to Roy Hodgson and his players securing a record seventh consecutive season in the Premier League, the lion’s share of our income remains intact in the short-term but Parish would surely be pleased to see any interested (and wealthy) new blood come aboard with the amount of restructuring he’s got planned over the next three to five years.
The Shinawatra stories had a distinct whiff of weirdness attached to them from the start; thankfully it’s only taken 24 hours for Palace fans’ scepticism to be backed up. Should the picture shift once more, I’ll do my best to cover it as quickly as possible.