The Thai club are aiming to become one of the leading sides in Asia 'within three to five years' after a new takeover from the country's largest cement companyThe Siam Cement Group (SCG), Thailand's largest cement company and the nation's second largest enterprise, has purchased a 30 per cent stake in Muang Thong United after bringing its relationship with Samut Songkhram FC to an end.
The Nonthaburi-based club, who were Thai champions in 2009 and 2010, will now be known as SCG Muang Thong United Football Club.
SCG reportedly paid 600 million baht (€14.8 million) for the stake in the Thai Premier League (TPL) outfit.
The company spent 2010 and 2011 as the main sponsor of Samut Songkhram. Several local sources have suggested that this latest development might result in Samut Songkhram having to withdraw from the TPL due to a lack of funding.
Last season, the team could only manage a third-place finish having won the TPL title both in its inaugural season - 2009 - and 2010. This followed a First Division title (pre-TPL [in 2008]), which followed a Division Two title in 2007.
For a relatively new club, founded in 1989, Muang Thong United has enjoyed a good deal of success both on and off the pitch over recent years.
Owned by sports media magnate Ravi Lohtong, much of the club's recent successes have been attributed to Robert Procureur, Muang Thong United's former manager.
The club's less than stellar performance last season coincided with the Belgian's departure to TPL rivals BEC Tero Sasana (as general manager), a club with close links Football Association of Thailand (FAT) president Worawi Mukadi.
Procureur is also currently technical director of the Myanmar National League team Yadanabon FC.
SCG managing director Pramote Techasupatkul noted that the investment would bolster the company's reputation and raise standards in the TPL.
The company's chairman, Pongsak Polanan, told a Thai-language newspaper that the investment by SCG would ensure that Muang Thong United becomes one of the leading sides in Asia, “within three to five years”.
The club's stadium, formerly known as the Yamaha Stadium, will now be known as the SCG Stadium.