Shinawatra makes formal offer for Manchester City
The good doctor has finally completed his due diligence and has made an offer of £81.6 million pounds for what appears to be 55% of mcfc and clears the debt. I say appears as the official announcement from the club is really too long and complicated for the likes of me !
Here are some of the key points :
The shares to be sold :
Walbrook Trustees (Guernsey) Limited 10,140,461 18.75
John Carruthers Wardle/ John Stephen Riches 5,431,681 10.04
Dawn Elizabeth Makin/ David Martin Makin 5,431,680 10.04
Francis H Lee 3,857,044 7.13
John Carruthers Wardle 3,275,233 6.06
David Martin Makin 2,061,406 3.81
Dennis Tueart 36,258 0.07
Bryan Bodek 10,000 0.02
Alistair Mackintosh 9,100 0.02
The walbrook trustees is The Boler estate (probably!)
Board Changes
· Dr. Thaksin Shinawatra will assume the position of Chairman of the Board of Manchester City and Manchester City Football Club;
· John Wardle will resign as non-executive Chairman of Manchester City and will be appointed non-executive Deputy Chairman of Manchester City;
· Alistair Mackintosh will remain as Chief Executive of Manchester City and a director of Manchester City Group;
· Bryan Bodek will remain on the boards of Manchester City and Manchester City Group as a non-executive director;
· Panthongtae and Pintongta Shinawatra, together with Sasin Monvoisin, will be appointed to the boards of both Manchester City and Manchester City Football Club as non-executive directors;
· Dennis Tueart has agreed to resign from the boards of both Manchester City and Manchester City Football Club;
· Mark Boler has agreed to resign from the Board of Manchester City; and
· David Makin has agreed to resign from the board of Manchester City Football Club.
So surprisingly Wardle stays as deputy whilst Mackintosh and Bodek also remain Makin, Tueart, Boler all go.
Obviously Dannys criticism and calls for the club to terminate talks with Mr Shinawatra stung him into action.
As a voice of the fans I can state as a fact that 71.24536% of City fans are behind this bid.
6 comments:
meet the new boss, same as the old boss - except with a bit more financial clout.
Comical Ali gets a stay of execution. Only City could allow a United supporting incompetent to remain in a position of authority.
I guess his bessie mate Tyrell remains too.
You couldn't make it up.
Who is John Stephen Riches? Is he the 'mystery loan' man?
Are you kidding? Mackintosh the United plant is still going to be ruining this club? I thought the good Thai doctor would have his own people to replace incompotents and those flat out trying to sabatoge city. Wardle as well. I can't believe it. I backed Shinitwara (sp?) because I figured he's fire everyone. At least he's dumping Tuerat. That's a start.
PM Thaksin.
Chairman Thaksin.
President Thaksin.
Dr. Thaksin
Whatever his title is.. I support him. He is the best...
Thailand is in hell now that he is gone. Anyways you guys are very lucky to have a good leader. I wish the Thai media and the coupe leaders would shut up with their lies. It's an embarrassment to Thailand. Anyways, good luck!
does anyone know WHO his advisors are? It would seem that he relies on them somewhat... in his intervwiew he claims that his advisors have told him that the squad should be stronger-putting it mildly- 2 strikers/2 midfielders and ...a GOALKEEPER!!
Entering the Asian market presumingly means signing Asian players (like Sun Jihai-China).
Cynical perhaps,but in our wildest dreams could we have imagined what may happen on the transfer market.
One thing is for sure it will never be the same lovable/for better or for worse/ Cityitis club that we loved so much.
I hope that the FA have the sense and the courage to stand up to Shinawatra and point out to him that he hardly qualifies as a fit and proper owner of an English football club. Before anyone asks, I am a City supporter, I was born a City supporter. The board have agreed to this because they all realise that the club is one relegation away from going the same way as Leeds, with their shares and loans suddenly amounting to nothing, that's why they're all so enthusiastic about Shinawtra.
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