Quote:Ex-Thai PM makes formal bid for Man City

Deposed prime minister Thaksin Shinawatra has made a formal bid to take over Manchester City, BBC online reported Saturday.

His advisers have been completing their due diligence on the club, and lawyer Noppadon Pattama confirmed on Saturday: "We have tendered a bid for the team."

But he denied reports that a ฃ100m takeover had already been agreed, saying: "The deal is not formally or legally concluded yet."

Thaksin is expected to target Claudio Ranieri to become City's new manager.

However, the former Chelsea coach told BBC Sport on Thursday that he had not yet been approached to take over from Stuart Pearce, who was sacked last Monday.

BBC reported earlier that Thaksin emerged as the frontrunner to buy Manchester City. He has been granted access to the club's accounts and his advisers will carry out due diligence before reporting their findings to him.

His offer is believed to be more favourable to City than that of rival bidder Ray Ranson.

The club were not happy with some of the terms of Ranson's initial proposal before he submitted an updated version.

But Thaksin made contact with City on April 30 and the process for him to take over the Eastlands outfit has moved on quickly.

Due diligence allows a potential buyer to examine the accounts of the organisation in question and decide whether it is a worthwhile investment for them to make.

"Dr Thaksin Shinawatra notes certain recent press articles regarding the possibility of an offer being made for Manchester City," read a statement from Shinawatra's accountants to the Stock Exchange.

"Dr Thaksin confirms that he and his advisers have made an indicative proposal that may or may not lead to an offer being made for the company."

How simple.. The bank/CNS has to either approve or disapprove his request to release funds from Thailand soon. If they refuse to release the money they look like they are persecuting the ex-PM and he will play it to the max with the world press and his supporters, he already set the CNS up with his call in radio address, when they bit the bait. If they release the funds the Bank/CNS is psychologically telling the Thai people that he's Innocent. Another win-win situation for Mr. T.

Love him or hate him you have to marvel at the way he plays the political game.

Quote:FOOTBALL-CLUB PURCHASE

Thaksin seeks BOT blessings for Bt6.8 bn deal

Ex-PM's lawyer says move is not political; Man City says other bidders also in the fray

Former prime minister Thaksin Shinawatra will ask the Bank of Thailand to permit him to withdraw an unspecified sum from the country so he can buy Manchester City Football Club.
According to Thaksin's counsel Noppadon Pattama, Thaksin has bid for the club. The offer is estimated at around ฃ100 million (Bt6.8 billion).

Club officials said City remained in talks with "a number" of different parties over a potential buy-out.

"What I can say now is we have tendered a bid for the team. We had to be silent because we had to follow stock regulations," Noppadon said.

Offers for listed companies must be lodged with the London Stock Exchange.

Noppadon said the central bank was expected to give the green light because "the money would be used for a good cause".

"The money isn't going to be used for any political purpose, and news of the bid to buy the club isn't politically motivated," he said.

Noppadon also said Thaksin wants to help promote sports in Thailand via the take-over of Manchester City.

Democrat Party leader Abhisit Vejjajiva said the central bank had to handle Thaksin's request with transparency.

"And if there is no money taken out we have to examine the source of funds used if he buys the club," he said.

Assets Examination Commit-tee member Khunying Jaruvan Maintaka suggested Abhisit file a complaint with the committee or the Comptroller-General to allow an investigation of the City bid and its source of funds.

The net worth of Thaksin and his family is estimated to be around US$3 billion.

In January 2006, his family sold off the majority stake of Shin Corp to Temasek Group of Singapore in a tax-free Bt70-billion-plus transaction, triggering a widespread protest and leading to the coup on Sept 19, 2006.

Criminal, tax evasion, abuse of power and other charges have been filed against Thaksin and his family members, with the first criminal case due to be heard by the court in July this year.

ThaNation

Did I call this right or what...LOL The ball is kicked firmly into the CNS's side of the court now and it will be interesting to see how they react.

Thaksin used to want to buy Liverpool but didn't succeed ! But now , I think he will have Manchester City !
Will the Thai football managers agree to relate with hem to develope their football ?! Because with the president designation in MC , Thaksin can select and train young Thai players well !