The Xuan Thanh Group plans to hand over the administration of the football club Sai Gon Xuan Thanh to HCM City, the group's chairman Nguyen Duc Thuy has said.

In a document sent to HCM City authorities, Thuy said that the handover would allow the city to have its own football club to serve fans and that the transfer would help the club attract other sponsors.

The name of the club would also be allowed to change if a major sponsor signs on with the team.

Sai Gon Xuan Thanh were established in 2010 after the group bought Ha Tinh Province's football team and played in the First Division.

The team was promoted to the V-League in 2011 and finished third in its maiden bid in the V-League, winning the National Cup later. — VNS