Thursday 22 February 2018 20:08, UK
Oxford United have confirmed that Thai businessman Sumrith 'Tiger' Thanakarnjanasuth is the club's new majority shareholder and chairman.
Current chairman Darryl Eales is to retain a shareholding and significant investment in the club and will remain on the board.
"My ambition has always been to help the club achieve sustainable success," Eales told the club's official website.
"We have made significant progress on and off the pitch, and I believe a partner with similar ambition but greater resources will accelerate the prospect of achieving this objective.
"Tiger has the financial resources, high level connections in football, including with the EFL, and, critically, the passion and drive which can deliver on the club's ambitions. We have formed a good relationship and I am delighted to welcome him to the club.
Thanakarnjanasuth - known as 'Tiger' - was part of a consortium which took over Reading in 2014, but resigned as director in May 2017 after the group sold off 75 per cent of the club citing it had become "too expensive to run."
One of Thanakarnjanasuth's businesses is in garments manufacturing, exporter to global brands including Adidas, Calvin Klein and Tommy Hilfiger, while his other business falls within real estate.
The club are also in the process of appointing a new first team manager with Craig Bellamy the frontrunner for the position, Sky Sports News understands.
Derek Fazackerley will again lead the team on Saturday when Oxford face Northampton.
