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Thaksin, Ex-Thai Premier, to Bid for Manchester City (Update1)
By Grant Clark
May 21 (Bloomberg) -- Thaksin Shinawatra will make a formal bid for Manchester City ``in the next few days,'' his lawyer said today, as the exiled former Thai Prime Minister seeks to become the eighth foreign owner of a Premiership soccer team.
Thaksin and former City player Ray Ranson are vying for control of the northern England team that last won a trophy 31 years ago. Ranson submitted a revised takeover proposal in April after City's board dismissed his initial plan.
Investors are tapping into the worldwide appeal of the richest soccer league, which is set to share record broadcasting revenue of 2.7 billion pounds ($5.3 billion) over the next three years. Thaksin will bid 100 million pounds, Thailand's Nation newspaper reported yesterday. Noppadol Pattama, his lawyer, declined to discuss terms. City, whose stock has doubled in the past six months, has a market value of 24.3 million pounds.
``The formal bid will be made in the next few days and we hope to get a decision by the end of the month,'' Noppadol said in a telephone interview from London.
Manchester City officials and the club's public relations adviser weren't available to comment.
Thaksin, a 58-year-old billionaire, first tried to buy a club three years ago when he led a bid for 30 percent of Liverpool. He has been based in London since a Thai military coup overthrew him Sept. 19 and may return to Thailand if summoned to court to answer charges, interim Prime Minister Surayud Chulanont said May 16.
`Not Proved'
Thaksin, his family and some former cabinet members face a series of probes initiated by the junta over alleged violations in project approvals, share sales and other transactions. England's Football Association has criteria for owning clubs or becoming a director that bar, for instance, convicted frauds.
``The charge hasn't been proved,'' Noppadol said.
Thaksin will seek central bank approval to withdraw the money to purchase City, the Nation reported. Noppadol said Thaksin will be able to access his accounts in Thailand.
``There's no problems with the funds,'' Noppadol added. ``We'll be able to comply with Thai and English law.''
City finished 14th in the Premiership this month, 47 points behind champion Manchester United, and dismissed manager Stuart Pearce a day later. Newspapers have reported that Thaksin may bring in Claudio Ranieri or Louis van Gaal to replace Pearce and give the new manager 50 million pounds to spend on players.
U.K. newspapers reported in February that U.S. billionaires were also interested in buying the club that grew from the St. Mark's football team established in 1880. The stock was unchanged today at 45 pence.
Thaksin, Ex-Thai Premier, to Bid for Manchester City (Update1)
By Grant Clark
May 21 (Bloomberg) -- Thaksin Shinawatra will make a formal bid for Manchester City ``in the next few days,'' his lawyer said today, as the exiled former Thai Prime Minister seeks to become the eighth foreign owner of a Premiership soccer team.
Thaksin and former City player Ray Ranson are vying for control of the northern England team that last won a trophy 31 years ago. Ranson submitted a revised takeover proposal in April after City's board dismissed his initial plan.
Investors are tapping into the worldwide appeal of the richest soccer league, which is set to share record broadcasting revenue of 2.7 billion pounds ($5.3 billion) over the next three years. Thaksin will bid 100 million pounds, Thailand's Nation newspaper reported yesterday. Noppadol Pattama, his lawyer, declined to discuss terms. City, whose stock has doubled in the past six months, has a market value of 24.3 million pounds.
``The formal bid will be made in the next few days and we hope to get a decision by the end of the month,'' Noppadol said in a telephone interview from London.
Manchester City officials and the club's public relations adviser weren't available to comment.
Thaksin, a 58-year-old billionaire, first tried to buy a club three years ago when he led a bid for 30 percent of Liverpool. He has been based in London since a Thai military coup overthrew him Sept. 19 and may return to Thailand if summoned to court to answer charges, interim Prime Minister Surayud Chulanont said May 16.
`Not Proved'
Thaksin, his family and some former cabinet members face a series of probes initiated by the junta over alleged violations in project approvals, share sales and other transactions. England's Football Association has criteria for owning clubs or becoming a director that bar, for instance, convicted frauds.
``The charge hasn't been proved,'' Noppadol said.
Thaksin will seek central bank approval to withdraw the money to purchase City, the Nation reported. Noppadol said Thaksin will be able to access his accounts in Thailand.
``There's no problems with the funds,'' Noppadol added. ``We'll be able to comply with Thai and English law.''
City finished 14th in the Premiership this month, 47 points behind champion Manchester United, and dismissed manager Stuart Pearce a day later. Newspapers have reported that Thaksin may bring in Claudio Ranieri or Louis van Gaal to replace Pearce and give the new manager 50 million pounds to spend on players.
U.K. newspapers reported in February that U.S. billionaires were also interested in buying the club that grew from the St. Mark's football team established in 1880. The stock was unchanged today at 45 pence.
its just banter from daveduke ,hes ok for a red and he does go to the games even though he gets paid to watch the red scum as a stretcher bearer 
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