Yet another report re the proposed takeover.

City recommend ex-Thai PM's £81.6m bid
9.12, Thu Jun 21 2007

Manchester City's board is recommending former Thai Prime Minister Thaksin Shinawatra's £81.6 million bid for the club to shareholders.

This is despite prosecutors in Thailand filing corruption charges against Thaksin, who was ousted in a bloodless military coup last September and has been the target of several investigations into alleged corruption and abuse of power.

Talks have been going on for weeks but Thaksin could still have to undergo a 'fit and proper person' test before completing his takeover.

As negotiations have been conducted it has been claimed that Thaksin could look to bring in Sven-Goran Eriksson as manager as successor to the sacked Stuart Pearce.

Blackburn's Mark Hughes and Sevilla's Juande Ramos have also been linked with the City of Manchester Stadium hotseat.

But while Eriksson is keen to return to work after a year-long break, the former England boss's agent Athole Still has insisted that there has yet to be any contact.

Still said: "He is a top-class international coach who has done it for clubs in three different countries - and I'm sure he could do it with Manchester City.

"He'd be interested in a club like them but at the moment nothing is happening - that's the absolute truth.

"There has not been any kind of meeting or contact between Sven-Goran Eriksson, myself or anyone purporting to represent us with either Thaksin Shinawatra himself or any of his representatives, or anyone purporting to be."

Thakin's wife has also been named in the case, which involves allegations of wrongdoing in a land deal.

The attorney general's office recommended that officials seize the 13.2 acre plot of land, valued at around £12 million.

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

Thaksin, who has had around £800 million of his personal fortune frozen by the Assets Examination Committee, has been ordered by police to return to Thailand from his London base to face charges that he concealed his ownership of millions of pounds worth of shares from the Thai stock exchange.

ITV News

Maewchester City!

Thaksin still has to pass the test of being a 'fit and proper person' to own a club

The "Thaksinisation" of England - his unique brand of power marketing, popularism and bitter divisiveness - has descended on England. Yesterday, the board of the Manchester City Football Club accepted a 81.6-million (Bt5.6 billion) bid from Thailand's deposed prime minister.

And now British football looks set to experience the unprecedented - pre-game concerts, the introduction of Thai food into the Eastlands stadium, and the heavy political baggage of a foreign club owner.

Last but not least, the great divide that has left Thailand in chaos and international diplomacy smouldering may soon spill over onto the English soccer pitches and conference rooms of governing bodies. Only hours separated the formal bid in England and the announcement of the first corruption charges in Thailand, prompting the Premiere League to admit that an investigation into his background would be needed.

Thaksin may face a "fit and proper person" test before completing the takeover. Premier League spokesman Dan Johnson told BBC Radio Five Live: "We have a fit and proper person test which is based on objective criteria, there is a schedule of offences which also reflect any offences that someone has been prosecuted for overseas as well. It is a tricky one because he hasn't been prosecuted of anything yet, and also we are a football competition. We sit in a hierarchy of regulation and if the DTI [Department of Trade and Industry], the government, say this guy is okay to come in and purchase UK companies then that is really where we've got to be starting."

Thailand's Constitution Court in 2001, and the post-coup Constitution Tribunal this year shared similar headaches, not to mention social groups, diplomats and countless family members and friends who have become estranged because of disagreements over Thaksin's perceived flaws and merits and what he gave and took from his motherland. Debate has already began among Manchester City fans, and The Guardian website yesterday sarcastically called him "Champion of human rights".

Manchester City is deeply indebted. Some desperate fans welcome any big investment before the new season begins in August, but some are wary of Thaksin's real motives and doubt if he has true passion for the club. Eurosport.yahoo.com's "Idiot Guide" for Thaksin Shinawatra virtually described him as enigmatic and clueless about British soccer. "We can say for certain that Thaksin has never heard of Colin Bell, Uwe Rosler or Garry Flitcroft. ... Some angry people say he only wants to buy an English football club to keep his name in the public eye back in Thailand, where there are many Premier League fans, in case he changes his mind and wants to dirty his hands in politics again in the future. Thaksin himself recently told a Bangkok radio station that buying Manchester City 'would be very beneficial to the image of the country and also beneficial to Thai youth'. He didn't specify why or how this would be the case."

The questions of "Why" or "How" may grow louder after Thaksin's lawyer revealed some mouth-watering ideas to Thai reporters yesterday. According to Noppadon Pattama, Thaksin is pondering bringing popular Thai singers to perform at the stadium before the team's friendly game with Real Madrid on July 29. Thai food could be served to fans and a live-broadcast to Thailand would be sought.

"The takeover is now 60 per cent in progress, and the next club chairman will be Thaksin Shinawatra for sure," said the lawyer. "For all the contempt and post-coup consequences, he has done it. He has put Thailand on the world stage and opened the way for Thai youth to step into the Premiere League and world arenas."

As with everything else financial about Thaksin, the money source for the takeover remains a big mystery. The ousted prime minister has somehow managed to convince the club's board that despite the freezing of much of his money in Thailand and the on-going hunt for a large part of the remainder, he still has enough left overseas to finance the takeover. "It's family money which is not locked up by the freezing," said Noppadon. "I can't give more details since this is a delicate matter. All I can say is the process is transparent and goes through the stock market properly."

While Thai authorities may have squirmed hearing the word "stock market", cash-starved Manchester City executives are now convinced of Thaksin's financial and management capabilities and were urging remaining shareholders to accept the bid yesterday.

John Wardle, who will be replaced as chairman of the club if Thaksin's offer is successful, described the prospective new era as "an exciting opportunity to take Manchester City to the next stage of our development and deliver the on-field success we have all been striving for".

Along with chief executive Alistair Mackintosh, Wardle will remain on the board to oversee the future developments under a new manager after former boss Stuart Pearce left the club at the end of last season. "I am equally as pleased that the management team, who have worked relentlessly during my time as chairman to bring about success off the field, will also remain," Wardle added.

The bid came formally after several weeks of negotiations between the club and UK Sports Investments - the holding company indirectly controlled by Thaksin and his son and daughter, who is now the club's first ever female director. Now, the former Thai politician who abandoned a political party in the late 1990s and triggered political turbulence in his country last year after controversially selling his business empire, which thrived on state concessions, has tried to convince English football fans that he will be there to stay.

"I am delighted that the board of Manchester City has recommended my bid for the club and I look forward to continuing the excellent work of [City chairman] John Wardle and his team," Thaksin said. "We share a determination to take the club back to its rightful place at the highest level of competition in both the FA Premier League and European football. I am in no doubt of the responsibility associated with leading Manchester City and pledge to the fans, players and staff my utmost commitment to the future success of this great club."

Aside from the takeover cash, supporters and shareholders have been told there will be a substantial war chest for transfer funds in an attempt to transform the club's recent mediocre fortunes on the pitch. About 50 million (Bt3.2 billion) is likely to be available in the transfer kitty - with former England coach, Sven-Goran Eriksson one of the favourites to take over as manager.

The Nation

It`s amazing how many foreign owners are coming into the Premiership - mostly Americans though.

The thing with the amount of money being put in is that much of that will just go toward paying off debts. City has been in debt for a number of years, so will there really be much left over for new investment?

Thaksin: Freeze won't affect Man City deal

Says he took cash out of Thailand 'a long time ago with permission'

Ousted Prime Minister Thaksin Shinawatra assured Manchester City fans the freeze on his assets would not affect his deal for the football club's takeover, saying the funds he had set aside to buy the club had the blessing of the Thai authorities.

"Don't worry: the money that we plan to use to work with Manchester City I got permission to bring from Thailand a long time ago," Thaksin said in an interview with the Manchester Evening News website.

"Bringing that money out of Thailand had been planned several months before this thing happened. In addition, I have friends all over the world I can ask for credit from until I get the justice system to unfreeze my money."

A total of Bt57.8 billion of his and his family's assets in Thailand was frozen by orders of the Assets Examination Committee on June 11.

In his latest assets declaration on November 14 to the National Counter Corruption Commission, Thaksin reported his bank accounts held Bt509 million. His wife, Khunying Pojaman, reported her bank accounts held Bt3.48 billion.

But while City fans were relieved the club would now be able to move on after weeks of delay in takeover talks, many remain concerned that the new owner's troubles in his home country may disrupt the club.

Thaksin said: "Please tell the fans that the events in Thailand are not happening in a democratic way. I was a democratically elected leader ousted by a military dictator. Now everything in Thailand is under a military dictatorship. It will be back to normal when democracy returns to Thailand in December. I hope that justice will prevail after that, but everything they do is politically motivated.

"The money I have is money that the whole family earned over more than 20 years by working hard. They said that I have made that money through corruption. That is ridiculous."

The exiled leader is facing a corruption probe and allegations of human-rights abuse in Thailand, where as prime minister he initiated a war on drugs in which 2,500 people died.

He insists he is innocent of charges laid against him by political opponents among the current military leadership and is confident he will eventually be cleared.

Thaksin, who fled to Britain last year after being deposed in a military coup, had his ฃ81.6-million (Bt5.6-billion) offer for the English club accepted on Thursday.

This came hours after prosecutors in Thailand laid formal criminal-corruption charges against him on the Ratchadaphisek land deal in 2003.

Thaksin told Sky Sports television he had to pass the test of being a "fit and proper person" to own a club organised by the Premier League, which runs English football's top division.

"I passed a test in the taking-over process," he said.

"I had gone through so many questions. I think this is a very good system that I really like, even if I had to go through such a long process."

"It should have been finished two or three weeks ago, but I still like the system," he told the broadcaster.

Thaksin said he wanted City fans to call him "Mr Sinatra", a corrupted version of his surname, because it would be easier for them to pronounce than "Shinawatra".

"I understand people have difficulty pronouncing my surname. So just call me Sinatra," Thaksin told the British media. "They [the City fans] can shout 'Sinatra' to call me at the stadium. I don't care as long as they treat me as one of them," he said.

According to the Manchester Evening News Thaksin, 57, a former policeman who made his fortune in telecommunications, became the first foreign owner in City's 127-year history as he completed the takeover yesterday.

Thaksin, who first became interested in buying City last December, admitted the process had taken longer than even he had expected.

But having acquired 55 per cent of the club's shares, a figure he expects to rise to 75 per cent during the next month, he is now concentrating his energies on making Sven-Goran Eriksson City's next manager.

He confirmed that he and his advisers had been in talks with former England coach Eriksson but that no final decision had been reached.

If he accepts, it will make Eriksson the highest-paid boss in City's history on an annual salary of 2m. However, Blackburn boss Mark Hughes and Sevilla's Juan de Ramos remain on the short list if he turns the Blues down.

Thaksin is expected to spend up to ฃ50m on new players. He added: "If necessary it may cost 50m, it may cost 30m or it may cost ฃ20m. I will leave recruitment to my advisers, but I know we need two strikers, two midfielders and maybe some others.

"When you want effectiveness you drive for the target, and that is my style. strong leadership, not dictatorship."

Thaksin followed City's fortunes closely on television last season but said he would attend every game in person next season if he remained in the United Kingdom.

"If I stay in the UK, I will attend every match," he said. "If not, I will attend every game I can. I think we have the room to improve the club, because we can bring in a new coach and new players. They have a good team, and we can add more strikers and midfielders to create a better team."

He added: "The club's lease on the City of Manchester Stadium is for 250 years. I said I will do the contract extension myself in the next life!"

The Nation