Thaksin Looking To Buy Manchester City For 6 Billion Baht

[sriracha john]

ASC asked to probe Thaksin's Man City bid

Democrats want to know the cash source

The Democrat Party has called on the Assets Scrutiny Committee (ASC) to trace the money trail in deposed prime minister Thaksin Shinawatra's seven-billion-baht bid to buy English Premier League soccer club Manchester City. The party made the call after Mr Thaksin's legal adviser Noppadon Pattama confirmed that Mr Thaksin had already mounted a formal bid for the Premiership club. He said the ousted prime minister will seek Bank of Thailand permission to transfer money out of the country to buy the club and hoped that the central bank would not object to his move since the money is not being used for political or dishonest purposes. He said that Mr Thaksin was not trying to stir up trouble as suspected. The former prime minister is determined to contribute to the development of sports in Thailand, he said. Democrat deputy leader Alongkorn Ponlabutr said Mr Thaksin's takeover of the football club stood to doubly benefit Thailand. It would be beneficial to the development of football in Thailand, and at the same time offer the ASC the opportunity to investigate the remainder of the former prime minister's assets, believed to have been secretly stored in foreign banks, he said.

Continued here:

http://www.bangkokpost.com/News/20May2007_news08.php

=============

Interesting concept explored in the remaining article about how "the club would no longer belong to Mr Thaksin. It would then become the property of every Thai."

[sriracha john]

A Thai football fan walks past Manchester City t-shirt at a sports shop in Bangkok.

AFP

Man City bid going well, says Thaksin lawyer

BANGKOK - Ex-Thai premier Thaksin Shinawatra's bid for Manchester City is "going well" but nothing has yet been decided, his lawyer said Saturday, denying reports a deal had been struck.

"Thaksin has officially submitted his bid to buy the football club," Noppadon Pattama told AFP, confirming the offer for the first time.

"There is no any official conclusion yet at this moment, but everything is proceeding well," he said, adding that he had spoken to Thaksin earlier in the day.

"By the end of this month, everything will be clear."

He declined to give further details including the value of the offer, which is estimated at around 100 million pounds (197 million dollars).

Quoting sources close to Thaksin, Thailand's top-selling newspaper Thairath Saturday said he had struck a deal to buy the Premier League club for the same sum.

The report said the billionaire will name four close Thai associates as executive board members and has already mapped out management plans.

Siam Sport Daily also said Thaksin planned to take Thai goalkeeper Kosin Hathairattanakul to Manchester City.

Thaksin, 57, was ousted in September last year. Since then, he has remained in self-exile and currently lives in London.

While Thailand's ruling junta has blocked some foreign media coverage about Thaksin, his bid for Manchester City has been widely reported by the press here.

In 2004 Thaksin, an avid football fan, led a Thai consortium that tried to buy a 30 percent stake in Liverpool, angering fans who wanted to keep the team in British hands.

The bid eventually fell through, though Liverpool now has American owners.

According to official documents released after the September coup, Thaksin was worth 339 million dollars.

But that figure did not include almost two billion dollars earned from Thaksin's family stock sale. Public anger over the fact that no taxes were paid on that sale helped lead to his ouster.

Reports from Britain indicate Manchester City, a venerable club regarded as under-achieving, will not appoint a new coach until it is clear whether Thaksin's takeover will proceed.

- AFP

Edited May 20, 2007 by sriracha john

[sriracha john]

Conflicting reports now... saying the deal has already been done...and others saying it's still in the works.

Claudio Ranieri has the backing of Manchester City's new Thai owners.

Ranieri Given City Job

Thaksin Shinawatra has bought Manchester City for £100million and installed Claudio Ranieri as the new manager.

I can reveal that last Monday the former Thailand Prime Minister shook hands and verbally agreed the deal which will be formally announced to the London Stock Exchange in less than a fortnight.

Thaksin, who tried to buy Liverpool when he was still the Premier of Thailand, has already appointed Ranieri as well as three key members of his backroom advisers and board members.

One is Wikron Kum Pairoj, whose company Bann Chang Group have been sponsors of Everton. He is also the former Thai ambassador to Britain.

Ponjsak Raktapongpisak was one of the chief negotiators in the bid for Liverpool and Pairoj Piempongsaan will also sit on the board.

So far advanced are the negotiations that it has already been agreed that half of the £100m will be paid by the end of May.

A source close to Thaksin said, “Ranieri was Thaksin's personal choice and he has already given him the job at City.”

- By Harry Harris, Sunday Express (UK)

Edited May 20, 2007 by sriracha john

[sriracha john]

While Shinawatra and his financial advisers, Seymour Pierce, complete their due diligence process, there seem to be few among the City fans who are inclined to undertake a similar process of discovery on their potential benefactor. The telecommunications billionaire, ousted from political office by a military coup last year, has long lived with accusations about his business and political life - from allegations of corruption and cronyism to criticism of his record on human rights in Thailand. However, what they have focused on, is that he is reported to be worth close to £2bn.

"Generally football fans aren't interested in the political side of things, although maybe we should be. The British government has decided it's OK for him to live in this country and if it's OK for him to live here should we question whether he should be able to buy a football club or not? It's simplistic, but I think most fans would say if he wants to invest in a football club we would rather it was with us," admitted Kevin Parker, the secretary of the club's official supporters' club.

- Sunday Herald (UK)

[sriracha john]

More questions raised... does he already have the money outside of Thailand? Is it still in Thailand?

Thaksin seeks to withdraw accounts in Thailand for bidding

Thailand's former prime minister Thaksin Shinawatra will ask the Bank of Thailand (BOT) to permit him to withdraw an unspecified sum from the country so he can buy Manchester City Football Club, Thai local media reported on Sunday.

According to Thaksin's counsel Noppadon Pattama, Thaksin has bid for the club. The offer is estimated at around 100-million- pound (about 198 million U.S. dollars).

"What I can say now is we have rendered a bid for the team. We had to be silent because we had to follow stock regulations," Noppadon was quoted by Thai newspaper The Nation as saying.

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.

- Xinhua

[Plus]

I can reveal that last Monday the former Thailand Prime Minister shook hands and verbally agreed the deal which will be formally announced to the London Stock Exchange in less than a fortnight.

Shook hands Last Monday?

That leaves out one small technicality - the money. That obviously hasn't been discussed.

[Briggsy]

Spin spin spin Noppadol keeps talking Keep my name in the press Drag it out Smokescreen over smokescreen Hidden agendas - you bet Blah blah blah Keep the story running for as long as possible You couldn't buy publicity like this And it's not costing a penny When the house of cards is just about to fall down pull out at the last moment blaming the current authorities And you never know they might be daft enough to let me take the last of my dosh out of Thailand and out of their clutches Did I say keep talking?

[sriracha john]

Thaksin yet to apply for football funds

Former Prime Minister Thaksin Shinawatra has not yet submitted his proposal to take money out of the Kingdom for the purchase of Manchester City Football Club, according to a central bank director.

Bank of Thailand (BOT) director Suchart Sakkankosone, said once the proposal arrived at the central bank, an opinion would be sought from the Assets Examination Commission (AEC) as well as the Anti-Money Laundering Office (AMLO).

The AEC is in the process of prosecuting Thaksin on many charges that could lead to an assets foreclosure.

Suchart said if Thaksin took money out of the Kingdom for the purchase of the football club - but does not buy it - he is obliged to send the money back to the Kingdom as soon as possible or risk punishment under the Exchange Control Act.

The quick remittance rule is also enforced if he buys the club and then sells his stake.

Thaksin has reportedly submitted a formal bid to buy the football club for 100 million pounds.

- The Nation

[sriracha john]

BoT needs time to review Thaksin's request when it's made

The Bank of Thailand needs one month to consider whether former prime minister Thaksin Shinawatra can transfer money abroad to acquire the English Premier League football club Manchester City. Because several investigations were pending into activities during Mr Thaksin's administration, the central bank needed to consult other agencies, said Suchart Sakkankosone, director for Exchange Control and Credits Department. Among them are the Assets Scrutiny Committee and the Anti-Money Laundering Office. Mr Thaksin is conducting due diligence on purchasing Manchester City for an estimated seven billion baht ($200 million). ''The central bank needs to consult the two agencies first. If they think the transfer is all right, then we will consider the case,'' Mr Suchart said. However, he said the central bank had not yet received a formal request from the former prime minister.

Continued here:

http://www.bangkokpost.com/Business/22May2007_biz44.php

[sriracha john]

Thaksin hopes to seal Manchester City deal in June

BANGKOK - Former Thai Prime Minister Thaksin Shinawatra hopes to complete a takeover of English Premier League soccer club Manchester City in early June, his spokesman said on Friday.

"Everything is going smoothly," Thaksin's lawyer Noppadon Pattama told Reuters. "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 100 million pounds.

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

- Reuters

[Old Man River]

Thaksin seeks to withdraw accounts in Thailand for bidding

Thailand's former prime minister Thaksin Shinawatra will ask the Bank of Thailand (BOT) to permit him to withdraw an unspecified sum from the country so he can buy Manchester City Football Club, Thai local media reported on Sunday.

According to Thaksin's counsel Noppadon Pattama, Thaksin has bid for the club. The offer is estimated at around 100-million- pound (about 198 million U.S. dollars).

There is still a lot that isn't publicly known about this transaction, not the least is how much of the purchase price does Thaksin want transferred out of Thailand?

Assuredly, none of the amount needed for the purchase could come from the SHIN sale to Temasek, because the proceeds of the SHIN sale went to the owners of the SHIN shares (Thaksin's adult kids and other family members). Since he had no ownership nor control in SHIN at the time of the sale (as per his comments made internationally), he would have no ownership nor control over the proceeds after the SHIN sale. I would imagine the AEC is watching this closely.

[chanchao]

> There is still a lot that isn't publicly known about this transaction, not the least is how

> much of the purchase price does Thaksin want transferred out of Thailand?

Why should anyone care? It's his money, he can do with it whatever he wants.

[sriracha john]

RANIERI THAI-ED TO CITY

CLAUDIO RANIERI has said 'yes' to becoming Manchester City's next manager - if Thai billionaire Thaksin Shinawatra takes control.

The quirky Italian, dubbed the Tinkerman, has told the group behind the Far East bid that he will quit Parma to head for the Premiership in the next fortnight.

And the former Chelsea chief has even discussed names of potential targets with Thaksin and his team of advisers ahead of a quick move into Eastlands.

Thaksin is trying to close a deal to buy City, who want the deal to be closed in the next two weeks after almost a month of talks.

However, City take the Thais so seriously that they have put their own plans to find Stuart Pearce's replacement on hold - which may actually help, as some of their candidates still have big games to play.

Dutchman Louis van Gaal will decide on his future after AZ Alkmaar play Ajax for a place in the Champions League today.

- The People (UK)

[sriracha john]

Ranieri holds Thaksin talks - report

CLAUDIO Ranieri held talks with Thaksin Shinawatra's representatives in London on Tuesday, according to a report.

Ranieri has denied any contact with City, although significantly not with the Thai consortium who are now pulling the strings ahead of the potential takeover. The Daily Mail report that Ranieri has been in London holding talks with that group.

The ex-Chelsea boss - out of contract next month - would have no problem staying in Italy but said: "My future has yet to be decided."

Parma president Tommaso Ghirardi said: "He is tempted by the idea of going to England but we will try to keep him."

- Manchester Evening News

[ratcatcher]

http://www.nationmultimedia.com/2007/06/04...es_30035975.php

From Nation latest headline:

Manchester City wants to see "colour of Thaksin's money" : UK media

England's Manchester City Football Club plans to go ahead and appoint a new manager as ousted premier Thaksin Shinawatra continue to drag his foot on filing a bid to take over the club.

London-based Sunday Mirror online reported the club's chairman John Wardle wanted to "colour of Thaksin's money within a fortnight or he may be forced to scrap his plans to sell."

Wardle may make Graeme Souness manager amid fears that Thaksin's 90 million pounds takeover bid has hit the wall.

The Mirror reported that the former Thai Prime Minister's accountants have been looking at City's books for weeks as part of a due diligence process. But no formal bid has been made - nor is one expected this week.

Alarm signals are sounding as the exiled prime minister's attempt begins to look similar to his doomed plans to move into Anfield.

City feared that the new season is kicking off in just over two months and the club has become a rudderless ship.

It has no no manager following the sacking of Stuart Pearce, and while other clubs are doing their summer shopping, City are caught in a void.

The Mirror said Claudio Ranieri, who was ready to become manager if Thaksin was successful, is now certain to take over at Juventus instead.

Wardle is now preparing to remain in control and former Liverpool, Blackburn and Newcastle boss Souness is on stand-by.

Conned again boys?

Does Thaksin have the balls?

Edited June 4, 2007 by ratcatcher

[John K]

Apparently they are slowly learning not to take what Thaksin says on face value.

[ratcatcher]

Well if I don't get to buy the damned team, maybe they'll let me play?

[ratcatcher]

Edited June 4, 2007 by ratcatcher

[sriracha john]

City turmoil as Ranieri opts for Juve

The former Thai prime minister Thaksin Shinawatra saw his immediate plans for Manchester City thrown into disarray last night when his first-choice candidate to replace Stuart Pearce as manager, Claudio Ranieri, was confirmed as the new coach of Juventus.

Thaksin had identified the former Chelsea manager as his first appointment when the anticipated £90m takeover of City is completed and had outlined contract details and his transfer budget to Ranieri over talks in London last Tuesday. Two days later the Italian resigned as coach of Parma, whom he saved from relegation on the final day of the season, and professed his desire to return to English football after a three-year absence. Yet last night he signed a three-year contract with Juventus after the promoted club had failed to coax World Cup-winning manager Marcello Lippi out of retirement.

Ranieri's decision to stay in Italy heightens the sense of inertia around City, who sacked Pearce a day after the final league game of the season to clear the path for Thaksin's arrival but are yet to receive a formal bid from his Thai consortium one month after negotiations began. Still without a manager and unable to move in the transfer market, they have lost centre-half Sylvain Distin on a free transfer to Portsmouth and could accept a £5.5m offer to sell Joey Barton to Newcastle today, while the need to sign a goalscorer is pressing.

Indeed, Ranieri pointed to the drawn out takeover saga as a factor in his decision. "It was difficult to say no to the big project at Manchester City," he said, "but the team have not taken over yet and I cannot wait for one week more."

Yet despite concerns of creating a rudderless ship ­ even City's pre-season plans have not been confirmed so far ­ sources close to Thaksin and the club chairman, John Wardle, last night indicated there is no immediate concern over the delays in the takeover and the loss of their leading managerial target.

The Thais are studying the club's books and are adamant an official bid will be forthcoming once the due diligence process is complete. Club sources are also confident the takeover will proceed within the next few weeks and are unperturbed at being inactive in the transfer market this early in the close season, although that assessment will change if the club remain managerless and still in need of reinforcements by July.

Last night City confirmed they are in advanced discussions with interested parties "which may or may not lead to an offer being made for the company".

City's prospective new owners also indicated a European coach remains their objective. While Ranieri was their No 1 choice, the Thais have a shortlist that includes the former Liverpool manager Gérard Houllier, Ruud Gullit and Seville's sought-after Juande Ramos. Houllier is now the bookmakers' 11-4 favourite but other candidates, such as Derby's Billy Davies, may come into the reckoning.

Ranieri replaces Didier Deschamps, who left the club by mutual consent last week, having steered the Old Lady to the Serie B title.

- The Independent (UK)

[sriracha john]

Thaksin still top Manchester City suitor

Manchester City have moved closer to a takeover, with the club revealing they are in advanced discussions with interested parties, the British media reported today. Former prime minister Thaksin Shinawatra is favourite to take control of the Premiership side. And the club will on Tuesday morning release a statement to the Stock Exchange, which reads: "The board of Manchester City can confirm we are now in advanced discussions with interested parties that may or may not lead to an offer being made for the company." Advisors for Shinawatra have insisted the process will not be halted by a ruling in Bangkok that he had been involved in electoral malpractice - a verdict which prevents him taking up any political role for five years.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=119226

[sriracha john]

Manchester City in advance discussion with interested "parties"

Manchester City are in "advanced discussions" that could lead to an offer being made for the club

City are to release a statement to the Stock Exchange on Tuesday, stating that talks held with "interested parties may or may not lead to an offer," BBC reported Tuesday.

Ex-Thailand Prime Minister Thaksin Shinawatra is reported to have lodged a formal bid for the club. And the Premiership outfit has also been linked with a buy-out from American investors.

But former City player Ray Ranson is understood to have withdrawn his bid to buy the club.

City's statement comes on the day that Claudio Ranieri - strongly linked with the managerial vacancy at the club - was appointed boss of Italian side Juventus.

Ranieri was thought to be the favoured choice of Thaksin and the two men met in London last Wednesday - but the delay over the takeover led the Italian to opt for Juve.

"It was difficult to say no to the big project at Manchester City - but the team have not been taken over yet and for me I cannot wait for one week more," said Ranieri.

Thaksin's lawyer Noppadon Pattama said in May: "Thaksin has officially submitted his bid to buy the football club.

"There is not any official conclusion yet at this moment, but everything is proceeding well. By the end of this month, everything will be clear."

But the issue has dragged on, with paperwork now being handled by Thaksin's lawyers.

City chairman John Wardle, who along with business partner David Makin has a 29% stake on the club, is thought to be supportive of Thaksin's interest.

Wardle is thought to have a cut-off date after which he believes it will no longer be in the club's short-term interests to further delay signing new players but it is not thought to be imminent.

AFP reported that Noppadon yesterday remained tight-lipped on Tuesday on a report that a deal was close.

Noppadon said the deal was proceeding "well" but declined to comment on the report.

"So far I learn that the deal is proceeding well. (But) I can't give any details on this issue. Thaksin instructed me not to talk about this matter unless it's final," Noppadon told AFP.

"I think when the deal is concluded, we will have a press conference here," he said without elaborating further.

- The Nation

[Plus]

They can advance their discussions until City wins Champions League, it won't help a bit if money is not there.

Out of all assurances by Thaksin and his lawyers not one mentions the source of funds and when they will be available.

Thai Central Bank can deliberate the matter for a few months, at its own pace - and City will have to start new season with nothing, not even a manager, assuming the funds will be eventually released.

[sriracha john]

Thaksin Manchester City bid likely next week

Thaksin Shinawatra is expected to make a formal bid for control of Manchester City next week, the British media reported this morning. But the reports say that the former Thai PM will need all his persuasive charm to install Juande Ramos as manager after it emerged that the Spaniard is in negotiations to extend his contract at Sevilla. Mr Thaksin suffered a serious setback in his managerial pursuit this week when first choice Claudio Ranieri joined Juventus, citing delays in the takeover as a factor in his decision to reject City's advances, according to The Independent's article. Mr Thaksin's team, however, had drawn up an alternative shortlist of candidates prior to Ranieri's move and remain confident of making an appointment before the squad reports back for pre-season training in the first week of July.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=119250

[Colonel_Mustard]

They can advance their discussions until City wins Champions League, it won't help a bit if money is not there.

Out of all assurances by Thaksin and his lawyers not one mentions the source of funds and when they will be available.

Thai Central Bank can deliberate the matter for a few months, at its own pace - and City will have to start new season with nothing, not even a manager, assuming the funds will be eventually released.

According to much earlier reports, the required funds are already in the UK and that was a condition prior to due dilligence taking place.

[sriracha john]

Has that been definitively established? I did a review of the reports and didn't see that clearly mentioned that the billions are already in the UK.

[sriracha john]

CITY MAYHEM

MANCHESTER CITY are in chaos after Claudio Ranieri snubbed them for Juventus and would-be owner Thaksin Shinawatra ran into a big takeover snag.

Ranieri accepted a one-year offer at Juve when he was put under pressure to accept as the Italians threatened to appoint former England manager Sven Goran Eriksson.

The former Chelsea chief had originally given Shinawatra a one-week deadline to buy City and make him manager - or he would join Juve.

It is a devastating setback for City, who had let Shinawatra and his team open talks with a manager before they had even closed the deal to move into the club.

He has been in negotiations for City for almost a month. His offer suits chairman John Wardle and leading shareholder Dave Makin, but some of the club's financial backers are unconvinced.

The former policeman and Thai Prime Minister has also vowed to spend around £50 million on new players.

But manager-less City may yet be left in turmoil as rival clubs make appointments and snap up players.

Desperate to quell growing unrest among fans, the club said last night: "The Board is in advanced discussions with interested parties" - which suggests not just Shinawatra is looking into buying the club.

Sevilla coach Juande Ramos has emerged as a favourite to be boss.

- The Mirror (UK)

[Colonel_Mustard]

Has that been definitively established? I did a review of the reports and didn't see that clearly mentioned that the billions are already in the UK.

It came from a source close to the current City board. Not sure if I have seen it on here but it has been reported and discussed on City forums. Not definitive but a pretty reliable source.

[carnival1200]

Same old tactics as before to get popular and stay afloat with the media. I'm sure the taxi drivers will appreciate.

Before selling to Thaksin, they should consult with Temasek and see the possible mess awaiting them after the sale...

Good point!  If it is proven that the money used for the purchase was from ilgoten gains then the Uk could find itself put on Thailands a

is of evil.

We could be invaded and have MC forceably moved to BKK

[jayjayjayjay]

They can advance their discussions until City wins Champions League, it won't help a bit if money is not there.

Out of all assurances by Thaksin and his lawyers not one mentions the source of funds and when they will be available.

Thai Central Bank can deliberate the matter for a few months, at its own pace - and City will have to start new season with nothing, not even a manager, assuming the funds will be eventually released.

According to much earlier reports, the required funds are already in the UK and that was a condition prior to due dilligence taking place.

Bottom line is Thaksin is no idiot when it comes to a business deal, either, he has the funds easily available to him out of reach of the Thai Central Bank (the CNS etc) authorities, or, the whole deal is a publicity stunt, which we know is possible. I believe the first is more likely, I don't think the Termsak deal was paid for onshore, thus he still has USD 2 billion sitting in the British Virgin Islands...

[sriracha john]

Manchester City gives Thaksin deadline

England's Premier League Manchester City are giving ousted prime minister Thaksin Shinawatra 48 hours to close the deal to take over the club - or the big sale is off.

London-based Mirror online reported that Thaksin is trying to clear the final hurdle to buy the club but time will run out Friday night.

Man City have been in talks with Thaksin for over a month.

Thaksin has to find around 30million pounds to pay off the debt to one of the companies who have lent money to City.

- The Nation