Wednesday, May 16, 2007

Shinawatra poised to make bid?

Thaksin Shinawatra, Thailand's exiled former prime minister,
is close to making a formal bid for Manchester City, the UK football club, and
is understood to have identified a new manager for the Premier League
side.
An announcement from both parties is expected “within days” according
to people close to the deal.
Bangkok’s media has been speculating as to
whether Mr Thaksin, who was de­posed in a military coup last year, would be
able to release funds held in local banks. But it is understood that Mr Thaksin
is funding the bid from private assets and has lodged monies for the bid with
his financial advisers, to the satisfaction of Manchester’s board.

No real surprise as it has been widely expected he would be the one to takeover, but it is the first 'confirmation' as regards a bid.

The article on ft.com also digs a little on how he will finance the bid and also his part in the sacking of Stuart Pearce.

vote it up!

1 comment:

Wigan Blue said...

Everyone's denying all knowledge of contacts with us. Of course they can - so long as the contacts have been made by the buyout team, not the club. They are all in the same situation as us - let's see the money!