The two former Juventus stars have been targetted as marquee signings of PTT Rayong FC, under the ownership of the richest company in Thailand
The corporation ranked 81 in the Fortune 500 have pencilled in Peter Withe, the former Aston Villa player and Thai national team coach, to lead the team in 2014.
Along with Withe, former Italian international Alessandro Del Piero has also been made a prime target, along with free agent Vincenzo Iaquinta.
Del Piero is currently with Sydney FC in the A-League and was team-mates with Iaquinta at Juventus.
The Rayong-based side will be led by Dr Pairin Chuchotethavorn, the CEO of PTT Group, untill the arrival of Withe. Sommai Khowkachaporn, the current Head Coach of PTT Rayong FC will step down after a successful season.
PTT Rayong have never played in the top flight before but sealed promotion this season after finishing third in the second tier of the Thai football league.
The club was founded in 1983 as part of PTT Group's CSR policy, with the company owning petroleum platforms in the Mabtapud area in the Rayong province.
Peter Withe is fondly remember by Thai football fans for leading the national team in their most successful period from 1998 to 2002, as they reached 43rd in the Fifa rankings, and claimed two AFF Championships. Withe also led the Thais to a commendable fourth place finish at the 2002 Asian Games football competition and had a brief spell in Indonesia.