Citeh Accepts £81m takeover bid by Thaksin Shinawatra
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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 weÂ’ve all been striving for.
"I'm delighted to have been asked to remain on the board together with our chief executive Alistair Mackintosh. IÂ’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. -
Weren't his assets frozen?
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no worries wif such an owner , man city will b playing against crystal palace soonOriginally posted by Slipshade:Weren't his assets frozen?
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Sven holds Thaksin talks
Prospective Manchester City owner Thaksin Shinawatra has spoken to Sven Goran Eriksson regarding the manager's job.
Shinawatra is closing in on his takeover of the Premier League club after having an £81.6million offer accepted by the City board.
Among his first tasks upon completion of the deal will be to appoint a managerial successor to Stuart Pearce, who left at the end of last season.
Several names have been linked with the post, but former England coach Eriksson has been strongly tipped to take on the role in recent days.
Eriksson's agent Athole Still claimed on Wednesday that no meeting had taken place between the Swede and the former Thailand Prime Minister.
But Shinawatra has told Sky Sports News that he met with the ex-Lazio coach last week, with a view to possibly becoming City's next boss.
Shinawatra also revealed his hope that he will be able to name the club's new manager by the end of next week. -
wad the hell does he know abt football other than kicking the ball through the posts is a goal
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bye bye shitty(city)
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lol? 81 mil? haha thats how much Ronaldo is worth right?
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Thaksin aims to surpass United
Thaksin Shinawatra is hoping Manchester City can surpass the popularity of local rivals United in Asia.
The former Thailand Prime Minister has agreed an £81.6million deal with the City board to buy the Premier League club.
Having seen United dominate the Far East market, Shinawatra wants City to be in a position to compete with their neighbours.
"The Asian people, especially in Thailand and China, they like football very much," Shinawatra told Sky Sports News.
"They watch almost every Premier League match that is telecast live and my takeover will mean even more for the Asians to be watching more of the teams, especially Manchester City.
"We have a Chinese player in Sun Jihai in the team and Manchester City has to do more marketing in Asia, which in the past we have done very little.
"That is what my plan is going to be."
Regarding the prospects of being as popular as the reigning champions, Shinawatra added: "Yes (we can be as popular), in Asia especially.
"I think many Asian people know the club very well, but we still need to do more on the marketing and also the academy.
"I would like to set up an academy in different regions of the world, starting in Asia. I'd like an academy in China, an academy in Thailand or an academy in the Middle East."
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Originally posted by omgukilledkenny:
[b]Thaksin aims to surpass United
Thaksin Shinawatra is hoping Manchester City can surpass the popularity of local rivals United in Asia.
The former Thailand Prime Minister has agreed an £81.6million deal with the City board to buy the Premier League club.
Having seen United dominate the Far East market, Shinawatra wants City to be in a position to compete with their neighbours.
"The Asian people, especially in Thailand and China, they like football very much," Shinawatra told Sky Sports News.
"They watch almost every Premier League match that is telecast live and my takeover will mean even more for the Asians to be watching more of the teams, especially Manchester City.
"We have a Chinese player in Sun Jihai in the team and Manchester City has to do more marketing in Asia, which in the past we have done very little.
"That is what my plan is going to be."
Regarding the prospects of being as popular as the reigning champions, Shinawatra added: "Yes (we can be as popular), in Asia especially.
"I think many Asian people know the club very well, but we still need to do more on the marketing and also the academy.
"I would like to set up an academy in different regions of the world, starting in Asia. I'd like an academy in China, an academy in Thailand or an academy in the Middle East." [/b] Ambitious -
Originally posted by omgukilledkenny:
typo sia!! shud b
Shinawatra added: "Yes (we can be as popular), in Asia especially.
[/b]
Shinawatra added:"Yes (we can be as popular) , in Asia only -
Use singaporeans money buy one knn!
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rich people keep most of their money overseas.Originally posted by Slipshade:Weren't his assets frozen? -
Originally posted by omgukilledkenny:
i think all this frozen asserts against him has gone to his head.. he's lost it big time i think... "aims to surpass United'? he meant west ham united right?
[b]Thaksin aims to surpass United
Thaksin Shinawatra is hoping Manchester City can surpass the popularity of local rivals United in Asia.
The former Thailand Prime Minister has agreed an £81.6million deal with the City board to buy the Premier League club.
Having seen United dominate the Far East market, Shinawatra wants City to be in a position to compete with their neighbours.
"The Asian people, especially in Thailand and China, they like football very much," Shinawatra told Sky Sports News.
"They watch almost every Premier League match that is telecast live and my takeover will mean even more for the Asians to be watching more of the teams, especially Manchester City.
"We have a Chinese player in Sun Jihai in the team and Manchester City has to do more marketing in Asia, which in the past we have done very little.
"That is what my plan is going to be."
Regarding the prospects of being as popular as the reigning champions, Shinawatra added: "Yes (we can be as popular), in Asia especially.
"I think many Asian people know the club very well, but we still need to do more on the marketing and also the academy.
"I would like to set up an academy in different regions of the world, starting in Asia. I'd like an academy in China, an academy in Thailand or an academy in the Middle East." [/b]
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If he can run Thailand so well... i believe it's easy for him to run Man City well too.... thai are so stupid to throw him out.. their business market is so much better under thaksin.. sighz..
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Sven weighs up City offer
Sven Goran Eriksson's agent says the Swede is considering Manchester City's offer to take charge at Eastlands.
The former England boss is Thaksin Shinawatra's number one choice to succeed Stuart Pearce at City.
City's new majority shareholder Shinawatra is keen to make a quick appointment as he looks to fund a major rebuilding plan at the club.
Eriksson's Swedish advisor, Lars Sternmarker says the 59-year-old is weighing up City's proposal and that the ex-Lazio coach will make a decision on his future soon after he returns from a break in his homeland.
"Nothing is finalised at the moment," Sternmarker told Sportbladet.
"I have spoken to Sven and there are a few things to consider. We are in a place where we are having dialogue.
"We are going to celebrate midsummer and then we will see what happens.
"I am happy to comment when something has been finalised but at this moment nothing has been finalised."
Meanwhile, Eriksson's English representative Athole Still has cleared up the confusion regarding City's approach for the manager.
Still said earlier this week he was not aware of any contact from City and the agent is disappointed that Shinawatra and his advisor Keith Harris cut him out of negotiations.
"I didn't know anything," Still told Sportbladet.
"I have said all this because I have been on vacation and not known anything.
"I have always been honest.
"Shinawatra's advisor Keith Harris contacted Sven directly due to the delicate matter of the case.
"I am very disappointed. I can understand why they did it like they did due to the confidentiality, but they should have contacted me first.
"Everything is sorted out amicably. There will certainly be further negotiations and then I will be present." -
Soon we'll see Kiatisuk at City and Surachai as coach.
And their jersey sponsor will be Chang Beer.
Cheers.
CK