Shinawatra linked to City takeover

[Mighty T.A.L.]

Thaksin Shinawatra, the deposed Thailand Prime Minister who failed in an attempt to buy a stake in Liverpool in 2004, has been linked with a possible takeover of Manchester City.

Reports in Thailand claim the businessman is heading a consortium of investors that includes partners from the Middle East and China that is preparing a £92.5 million buy-out of the Premiership club. City have refused to comment on the claims but Thaksin and his representatives are believed to have made initial contact with the club but have yet to present firm proposals to back up their initial interest.

John Wardle, the chairman, has made no secret of his wish to attract new investment after putting £20 million of his money into the club and has been conducting negotiations with unnamed American investors for the past few months.

With City’s Premiership future now assured, the club hope progress with potential investors can be made quickly, particularly with the transfer window set to re-open shortly and manager Stuart Pearce anxious to improve an inconsistent squad. Thaksin, 57, is currently on holiday but Noppadon Pattama, his legal counsel, told Thai newspaper The Nation: “As soon as [Thaksin]finishes his vacation, I will ask him about it and hold a news conference.”

Source: The Times

[Mighty T.A.L.]

Former Blue makes bid for City

Manchester City have received a bid of £90million from a British consortium headed by former player Ray Ranson.

Speculation has been fervent of late with regards a takeover at Eastlands, with City chairman John Wardle having spoken to several parties, as he continues his search for significant investment in the club.

In a carefully worded statement to the Stock Exchange, City have confirmed they are in talks with potential buyers which 'may or may not lead to a bid' for the club.

Former Thai Prime Minster Thaksin Shinawatra, who attempted but failed to buy a stake in Liverpool in 2004, has strongly been linked with making an offer but it would appear Ranson has laid down the early marker in lodging an opening bid.

Ranson tried to buy Aston Villa prior to Randy Lerner securing control at Villa Park and has while he has always been linked with making a move for City, it is only now that he has made his interest official.

The offer is believed to cover the club's shares, the repayment of loans in the region of £24million to major shareholders Wardle and David Makin and debt to other parties.

It has also been speculated that Ranson would be ready to hand manager Stuart Pearce a £20million transfer kitty were he to assume control.

An American consortium is also weighing up whether to launch a takeover of their own, according to reports.

It is expected that Ranson will make a statement to the Stock Exchange on Tuesday to clarify his position.

Source: Skysports

[Mighty T.A.L.]

City deny Ranson bid

Manchester City have denied that they have received a £90 million takeover bid from former player Ray Ranson but said they would consider offers for the Premiership club.

In a statement sent to the London Stock Exchange, City said they had received a highly conditional indicative proposal from Ranson in March and had allowed him to carry out due diligence on the club.

"Ray Ranson's indicative proposals to date have contained a number of material conditions the board does not believe can be fulfilled and this has been communicated to Ray Ranson'sadvisers," the statement said.

"However, the board granted Ray Ranson, his financial partners and their advisers access to confidential information and allowed Ray Ranson to carry out due diligence.

"For the avoidance of doubt, since 12 March 2007, contrary to media speculation, neither the purported '90 million pounds bid' nor further proposals of any sort have been received by the company or its advisers from Ray Ranson.

"The board will continue to consider all indicative proposals and offers from potential offers including Ray Ranson and, as announced on 24 April 2007, continues in preliminary discussions with interested parties."

BBC Radio Manchester reported on Tuesday that Ranson had made a £90 million bid for his former club.

The 46-year-old Ranson, who also played for Birmingham City, Newcastle United and Reading, said in a statement he had the backing of a British-based financial partner.

City have been seeking investors with chairman John Wardle keen to attract significant funds for a club that has long lived in the shadow of illustrious neighbours Manchester United.

Media reports on Monday had claimed that former Thailand prime minister Thaksin Shinawatra.

Source: Eurosport

[Mighty T.A.L.]

Former Thai prime minister Thaksin Shinawatra has been given the green light to step up his interest in buying Manchester City after being granted access to the club's accounts.

Reports suggest City board have granted Shinawatra due diligence allowing his advisors to look at the club's finances.

Shinawatra, who failed in a bid to buy a stake in Liverpool in 2004, has been strongly linked with a takeover move of City in the last few weeks.

The 57-year-old is thought to be keen on gaining a controlling interest in City and is ready to do business with City's board.

City chairman John Wardle is believed to be considering offers for the club with a number of consortiums expressing interest in the Eastlands outfit.

However, the board's reluctance to deal with former player Ray Ranson over a possible takeover bid appears to put Shinawatra in pole position to buy the club.

Shinawatra's accountants will now analyse City's accounts before advising their client whether to make a formal bid.

Source: Skysports

[Mighty T.A.L.]

Thais make formal City bid

Thaksin Shinawatra has tendered a bid for Manchester City, according to the former Thai Prime Minister's lawyer.

The Premiership club have been the subject of takeover interest for some time and Shinawatra is in pole position to purchase City.

He has now firmed up his interest with an offer after making an indicative proposal to City earlier this month.

"What I can say now is we have tendered a bid for the team," Shinawatra's lawyer Noppadon Pattama told Reuters.

"We had to be silent because we had to follow the stock regulations as we are trying to buy a listed company."

Reports have claimed that a £100million deal has already been agreed, but Pattama played down that suggestion.

He added: "The deal is not formally or legally concluded yet."

With Shinawatra expected to finalise his buy-out of the club, Claudio Ranieri has been made favourite to replace Stuart Pearce as manager.

However, reports in Germany have claimed former Bayern Munich coach Felix Magath has held talks regarding the post.

Magath recently turned down a job offer from Wolfsburg and has told German television that he wants to work abroad, with the Premiership among his options.

Source: Skysports

[Mighty T.A.L.]

City takeover 'in June'

Former Thai Prime Minister Thaksin Shinawatra hopes to complete a takeover of Manchester City in early June, his spokesman said today.

'Everything is going smoothly,' Thaksin's lawyer Noppadon Pattama said.

'We hope the deal will be formally concluded by early June.'

Thaksin, who has not returned to Thailand since being ousted in a bloodless coup in September, made an indicative proposal to Manchester City earlier this month but no further details have been released since.

But Noppadon said a formal tender had been made and the deal could be wrapped up as early as June 2.

But he still declined to confirm the size of the takeover, which a leading Thai newspaper put at £100million pounds.

Thaksin, who failed in his efforts to buy Liverpool three years ago, is accused by coup leaders of corruption during his five years in office.

Thaksin is due in Tokyo on June 7 to be named a 'visiting professor' at Takushoku University.

Source: metro.co.uk

[Mighty T.A.L.]

Thaksin Shinawatra is set to offer £120 million for Manchester City this week.

[Mighty T.A.L.]

City suitor ordered to go home

Former Thai prime minister Thaksin Shinawatra - the man currently involved in a takeover bid at Manchester City - has been ordered to return to his home country to face criminal charges.

Shinawatra has been charged with concealing assets and has also been accused of a number of alleged cases of corruption and abuse of power.

The City hopeful previously had £830million worth of assets frozen by the Thai government, although his lawyer later stated this would have no impact on his attempt to buy the Premiership club.

Now Shinawatra has been ordered to return to Thailand by 29th June or face arrest, as the department of special investigations in his homeland claims that police have strong evidence to suggest the former Prime Minster was in possession of secret stock via a holding company.

Under Thai law, serving cabinet minsters are usually not permitted to hold shares in public listed companies, and must also reveal all their assets.

The latest development in the Shinawatra saga is another unwelcome headline for City, who have failed to bring in a replacement for Stuart Pearce or resolve the club's future at boardroom level over the summer.

Source: Skysports

[Mighty T.A.L.]

Thai chief in £81m City takeover

The Manchester City board has accepted an £81.6million takeover bid by former Thai prime minister Thaksin Shinawatra.

Shinawatra has confirmed to the Stock Exchange his intention to take over the Eastlands club, a move unanimously backed by the City board.

The deal will now be put to the club's shareholders. The Thai premier has already been pledged 55.0 per cent of shares by board members and former chairman Francis Lee.

Should Shinawatra go on and see his plans come to fruition, his first task will be to appoint a new manager with Sven-Goran Eriksson believed to be in the running to succeed Stuart Pearce.

Current City chairman John Wardle is to remain on the board under the new regime.

Announcing the takeover deal, Wardle said: "Following our significant progress over the last few years, this offer provides an exciting opportunity to take Manchester City forward to the next stage of our development and to deliver the on-field success we’ve all been striving for.

"I'm delighted to have been asked to remain on the board together with our chief executive Alistair Mackintosh. I’m equally pleased that the management team who have worked relentlessly during my time as chairman will also remain."

Shinawatra was also delighted to confirm his takeover of the club. He said: "I'm delighted that the board of Manchester City has recommended my bid for the club and I look forward to continuing the excellent work of John Wardle and his team.

"We share a determination to take this club back to its rightful place in both the Premier League and European football.

"I am in no doubt of the responsibility associated with leading Manchester City and pledge my support to the club, players and fans."

The move comes after the protracted takeover at City took another twist after Thai prosecutors filed corruption charges against the ousted Prime Minister.

These are the first formal charges lodged against the exiled former premier and involve allegations of wrongdoing in a land deal.

The Thai Supreme Court will decide on 10th July if they will hear the case.

Thaksin has been living overseas since he was overthrown in a military coup in September while he was abroad.

Source: Skysports

[Mighty T.A.L.]

City's Thai takeover complete

Thaksin Shinawatra could bring members of the Thailand national team to Manchester City after gaining total control of the club, according to his lawyer.

The former Thai Prime Minister has now accumulated at least 75 per cent of the club's shares, allowing him to de-list City from the London Stock Exchange.

Shinawatra has been steadily building up his shares in recent weeks and his lawyer Noppadol Pattama claims he now has control of the Premier League side.

"The Shinawatra family has managed to acquire at least 75 per cent of shares in the holding company of Manchester City Football Club," said Noppadol at a news conference.

"Total control has been transferred to the family."

Shinawatra will now turn his attention to continuing to fund new manager Sven Goran Eriksson's summer spending spree.

Eriksson has already signed Rolando Bianchi, Gelson Fernandes and Geovanni, and is keen to make further additions.

The Swede could also see his squad flavoured by players from the Thailand national team, according to Noppadol.

The lawyer added: "The next step is to recruit or to buy new players from several national teams, such as Italy, Sweden, Brazil and Thailand.

"We expect to select at least two Thai players from our national team to join Manchester City."

Source: Skysports

[Scarlet Ibis]

are those thai players a done deal yet? Or are they still looking at candidates?

[Mighty T.A.L.]

Not a done deal.

[skeeta]

I presume that there is no extradition treaty between the UK and Thailand or that it does not cover this type of charge.

Thaksin would surely have looked into that very closely before deciding on where he was going to live.

There are myriad reasons to think that Shinatwra is not a "fit and proper person". I do think that the issue of why there hasn't been more questioning of the Shinawatra takeover from Man City supporters is worth examining. As are the Premier League's own actions in this regard.

Far be it from me to claim any superiority of the North American system, but it is at least interesting to note that it is extraordinarily unlikely that anyone with Shinawatra's record would be allowed within a country mile of a NFL franchise.

Thaksin has so much "baggage" of various sorts that I very much doubt that a league as protective of its image as the NFL would even let such a sale be formally considered.

Of course there is a massive conflict of interest in the North American system, and there have been a number of cases in which the effective veto has been used for less than progressive purposes.

However, the existance of salary caps in most North American sports and a general sense that the league as a whole benefits from successful franchises has meant that cenario tends not to be the one that owners consider when vetting potential new entrants.

[unitedfan]

Thailand's Supreme Court has issued a warrant for the arrest of ousted Prime Minister Thaksin Shinawatra on corruption charges.

The ruling came after Mr Thaksin and his wife failed to attend court in the Thai capital, Bangkok.

The court was to hear the first of a series of cases being brought against the former leader, who was ousted in a military coup last year.

Since then he has been living in the UK and recently bought Manchester City FC.

Mr Thaksin had been ordered to appear at the hearing to listen to charges that he abused his power while in office, by helping his wife buy land from a state agency at a favourable price.

He denies any wrongdoing and says the charges against him are politically motivated.

Telecoms tycoon

His lawyers had asked for the case against him to be postponed until after general elections promised for December, arguing that he would not get a fair trial.

But the court's nine-member panel ordered that he appear in time for a new hearing on 25 September.

"The court has approved arrest warrants against the two suspects," Judge Tonglor Chomngarm said. "Both should be brought before the court."

Thailand's attorney-general and the prosecution have indicated that they could seek Mr Thaksin's extradition from the UK if he does not turn up at the next hearing.

The two countries have a long-standing extradition treaty, although each case is decided on its merits, the BBC's Jonathan Head reports from Bangkok.

A special committee is currently investigating another 12 cases of alleged corruption during Mr Thaksin's administration, our correspondent adds.

Prosecutors argue that Mr Thaksin, already a wealthy telecoms tycoon when he first took office, became abnormally rich while prime minister. He denies this, saying the value of his family's company increased in line with other businesses in Thailand.

If Mr Thaksin were to be convicted, our correspondent says, that could pose a problem for the English Premier League, as he might - as the new owner of Manchester City football club - be in breach of the League's rules.

BBCSport