A BUDDHIST monk wants to buy Brighton's iconic Palace Pier “for the people”.

Kelsang Pawo plans to approach big businesses in Sussex to raise the £30 million needed.

He hopes to see off competition from around the world to buy the tourist attraction.

The former merchant navy seaman admits he is not a businessman and is only just setting out on his path to buy the pier.

The 70-year-old head of the Gesar Foundation believes he can tempt big names to back him.

He said: “I would look to them to provide the money to buy the pier to save it from gambling organisations.

“They would get their money back from the profits the pier makes and the rest could be put back into helping the people of Brighton.”

Kelsang, who travels the world staying with Buddhist followers, said one Brighton businessman has already pledged £50,000 towards the project.

However, he said he wants to encourage corporate backing rather than individual donations as they would be harder to return if the project fails to take off.

Kelsang said: “They (businesses) would not actually own the pier but they would get their money back from the income generated by it.

“When everyone has got their money back the profits can then go into the city for projects to help charities and the vulnerable.”

So far the foundation's biggest project has been to raise £8,000 to build a school in Ethiopia.

However, that has not put Kelsang off setting his sights on raising the £30 million estimated to be needed to buy the pier.

The Victorian landmark was put up for sale by owners The Noble Organisation for the first time in more than 20 years in June.

GVA Humberts Leisure, which is marketing the pier, has advertised its sale worldwide including in India and Hong Kong.

Ben Allen, from GVA Humberts Leisure, said: “There is a very good level of on-going interest in the pier.

“I cannot comment at all on any potential interest by individual applicants.”

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