Business tycoon Vincent Tan has denied reports that he is letting go of Welsh football side Cardiff City FC (CCFC), stating that he is not selling the club or any of the other football franchises he owns, for the moment.

"For the record, I have no plans to sell any of the clubs but if I am offered the right price, I will certainly consider," he said in a statement.

Though he added that he has always publicly said that except for his family, all his businesses are for sale at the right price.

"I do not fall in love with my businesses," said Tan.

In any case, he explained that he is in no rush to let go of CCFC as things are just picking up for the club after its disastrous season and he believed that the club may soon climb back into the Premier League.

Tan said that if he were to sell off CCFC, it would only be to the right person and at the right price, as he wants to leave it in good hands.

As for the other football clubs that he owns, he said that it is still early days for Major League Soccer side Los Angeles FC (LAFC) with possible appreciation in value, and he sees it as a great long term investment.

As for Bosnian club FC Sarajevo and Belgian side Kortrijk Voetbalt CVBA (KVK), he said that they do not represent as substantial investments and he will not be selling, unless he is offered an attractive price.

Earlier today, a Cardiff City official also refuted news reports which suggested that Tan was trying to sell off the team.

According to welshonline.com, club chairperson Mehmet Dalman confirmed that there were offers but Tan was committed to the team.

Dalman said that the team had just persuaded Neil Warnock to continue as manager and Tan was backing the team's promotion bid to the premier league the next season by agreeing to pay for the required player transfers.

"We are stable here and enjoying our football. Any problems we do have are football ones, not financial or the running of the club, and they are easily resolved.

"We have just signed Warnock for at least another season, we've got momentum going and things are looking up. We are not looking to sell, I must emphasise that," said Dalman.

A Bloomberg report today claimed that Tan was selling Cardiff, Bosnian club FK Sarajevo, Belgium club KV Kortrijk and relinquish his stake in Los Angeles FC.

The report, which quoted an anonymous source, does not suggest any reasons for this.

Dalman said Tan was not selling any of the four clubs.

"The idea of Vincent selling any of his four clubs is absolutely off the table at this moment in time. It's important to put the record straight as quickly as possible."

Relegation

Since buying Cardiff City in 2010, Tan has seen the team being promoted to the Premier League, then relegated to the second division again, where it currently is in the middle of the table.

The Bloomberg report also quoted an anonymous source who said Tan had spent more than £180 million pounds (RM990 million) on the team, including its purchase price.

The club lost £8 million on revenue of £38 million in 2015 and it was reported that Tan is said to be looking to sell it for around £50 million.

Tan would also consider selling his soccer portfolio as a whole, said another source.

According to the report, China’s Fosun International Ltd had last July paid about £45 million for Wolverhampton Wanderers, who are currently 11 points behind Cardiff City.

Aside from Cardiff City, Tan also has a minority stake in Los Angeles FC, which had recently paid US$110 million (RM488.95 million) as part of the Major League Soccer's expansion to 28 clubs.

Tan has been described as an "unpopular" figure in South Wales for, among others, his decision to change Cardiff's home colours from blue to red before the decision was reverted.