From today's BP. Note this is not necessarily a bad thing, though the timing of it tells its own tale. There may be more big news today or tomorrow. Further comments and thoughts later.
Sports media tycoon Ravi Lohthong announced yesterday that he is relinquishing his ownership in Thai Premier League side Muang Thong United and is ready to give his shares in the club to an interested person for free .
"I have had enough of football management and want to focus solely on my media company," said Ravi who owns Siam Sport Syndicate which produces several sports newspapers and magazines as well as television and radio programmes.
Ravi took over Muang Thong United after they sealed promotion to the Thai Premier League in 2009 and has turned the Kirins to become a major force in the local league.
Muang Thong won the TPL title in its first season in the top flight in 2009 and retained the crown the following year.
He said the club was debt-free and that he had achieved his goal of making Muang Thong a famous club and the TPL a hit.
"I intend to give my shares in Muang Thong for free to anyone who is keen to run the club seriously," said Ravi, who is dubbed the Godfather of Thailand's sports media.
The club has two major shareholders, the other being Robert Procureur, and Ravi said those who are interested in taking over Muang Thong have to talk to the Belgian.
"I think there will not be a problem," Ravi said.
Ravi said if incumbent Worawi Makudi failed to get re-elected as president of the Football Association of Thailand, his company would terminate its contract to run the TPL with the FAT.
"The deal was made with Worawi as FAT president and if he is no longer FAT president, then we have to return the right to the new FAT board," he said.
An election for FAT president last week was postponed amid reports that Worawi could be heading for defeat .
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