Phuket FC faces dissolution as chairman looks to step down

[Lite Beer]

Phuket FC faces dissolution as chairman looks to step down
Matt Pond

Pramookpisitt Achariyachai, renowned for his Kata Group of hotels, will be resigning as club Chairman and will no longer be the sole man propping-up the club with his own funds.

Phuket FC, the island’s representative football club in the national league, is staring down the barrel of dissolution if a major investor is not found before the new season begins next year.

Yet Mr Pramook, who saved Phuket FC from insolvency in 2011,says he does not want the island’s home side to slide into defeat. He wants local or foreign people with a vested interest in Phuket’s future to step up and support the club with himself as part funder and club sponsor.

“Phuket FC is not my club, it belongs to Phuket,” he said. “I have big visions for this club. I want to see Thai kids play abroad. I want to send them to clubs in Europe so they will come back and develop Thai football.

“Now is the time to make this club public. I am willing to sell 51 per cent of my shares in the club to new shareholders,” he said.

“Our aim is to create a legacy for this club, to make a difference in Thailand. We want to open our arms to foreign investors as well as the local investors.”

Should an investor decide to buy the 51pc of shares and become the club’s chairman, it would cost them B30.6 million, club manager Pariyawit “Benz” Achariyachai, who is Mr Pramook’s son, confirmed.

A 1pc share in the club would cost B600,000. This would include joining the club’s board of directors, he said.

For this amount of money, they would be investing not only in the name Phuket FC, but also in the
players, with the possible exception of some of the internationals, and also Songyot “Coach Dang” Klinsrisuk who still has one year on his contract.

Source: http://www.thephuketnews.com/phuket-fc-faces-dissolution-as-chairman-looks-to-step-down-54160.php

-- Phuket News 2015-09-19

[eisfeld]

I wonder what the reason for selling exactly so many shares that he loses control of the board is. Seems fishy to me. Also "Benz", really?

BTW: he sells 51% of his shares. That means he gets the money, not the club. This is not an investment round causing dilution of his shares. He's getting out of it.