Thaksin Looking To Buy Manchester City For 6 Billion Baht

[Plus]

Marshbag's Looks like you are self appointed Judge and Jury, nice democratic principles you support, your no better than the military Junta you support..

Taking over a football club does not need a judge or a jury.

But Thaksin is free to sue if he is refused.

[jumnien]

"Most Thai,s are more than happy to have a temporary government in place and do not in any way question how they took on this role in the first instance. "

Yes, the poor little Thai peasants just love military coups that trample their rights and negate the results of free elections. That's why they are all signing up to support the beloved Army party in the next "election".

[Tony Clifton]

Marshbag's Looks like you are self appointed Judge and Jury, nice democratic principles you support, your no better than the military Junta you support..

Taking over a football club does not need a judge or a jury.

But Thaksin is free to sue if he is refused.

He may actually get sued by Man City in the end.

[chinthee]

Marshbag's Looks like you are self appointed Judge and Jury, nice democratic principles you support, your no better than the military Junta you support..

Taking over a football club does not need a judge or a jury.

But Thaksin is free to sue if he is refused.

He may actually get sued by Man City in the end.

This is an interesting thought. There might be a break-up fee clause in the contract with Man City. If he doesn't or can't proceed for any reasons not the fault of Man City, they may keep whatever they can get and sue him for damages to due lost opportunity to sell to another buyer. Hah. This could get better by the day.

[Plus]

There are conditions that would disqualify him from sitting on the board of directors. What exactly will happen is anybody's guess. He could be the owner without a say in how his club is run, he might be forced to sell (I can't imagine how).

It will be a real mess in any case.

There's no chance he won't screw it up.

[marshbags]

There are conditions that would disqualify him from sitting on the board of directors. What exactly will happen is anybody's guess. He could be the owner without a say in how his club is run, he might be forced to sell (I can't imagine how).

It will be a real mess in any case.

There's no chance he won't screw it up.

This is one of my concerns regarding the so called rule book relating to questionable deals all the way through the so called football institutions rules and regs.

Take so called contracts among the various sections of the footballing structure from the bottom up or top down.

When was the last time anyone witnessed the enforcement of such a document ???????????????

A recent example being Arsenals Henry, signed a new contract last year to last 4 years and because a director leaves he uses it as an excuse to renounce the agreement along with his phoney pledge to all connected to the club, not least the supporters.

Try explaining to young ones both at Arsenal in the above and eventually to the Man City supporters ect. when the predictable outcome eventually happens.

If i was an Arsenal supporter i,d be well and truly P****D Off as surely his loyalty is to the club

not the ex director but non the less he uses this as a legitimate reason to go to Barca.

What a disgrace and a let down for them.

As for Man City,s case once Thaksin was allowed to complete the / a so called take over.

Eventually it would fall into disrepute and as things are bound to go wrong, i,d really like to know how the f*** they are going to get out of it once papers are signed....because you can bet your last satang the footballing authorities will run a mile before engaging legal establishments to sort it out along with accepting accountability for it all and making sure all deals done in the future are upheld unless special circumstances apply.

That is of course going on past performances they ( Premier, league ect. ect. ) have displayed in commitment to justly doing the right thing, especially for those who matter most " the paying fans "

This is why they need to put the take over on hold now and allow the ongoing investigations to be completed.

They also need to be 100% sure Thakisn is using legitimately made funds via honest endeavours and not money laundering ill gotten gains.

They also need to be able to trace them as to, When, Where From and How he acquired them.

If he has nothing to hide then surely he will make available ALL the necessaries along with documents original in their content and not doctored for convenience.

The Honest / Dishonest intentions phrase comes to mind.

If he is found to be of the stature an honest establishment like the connected football associations should expect and of course the U.K government would endorse as such..........................

Then as they say in Thailand " UP TO YOU " but be very cautious IF the above is ever achievable.

marshbags

Edited June 28, 2007 by marshbags

[marshbags]

There are conditions that would disqualify him from sitting on the board of directors. What exactly will happen is anybody's guess. He could be the owner without a say in how his club is run, he might be forced to sell (I can't imagine how).

It will be a real mess in any case.

There's no chance he won't screw it up.

There are conditions that would disqualify him from sitting on the board of directors. What exactly will happen is anybody's guess. He could be the owner without a say in how his club is run, he might be forced to sell (I can't imagine how).

It will be a real mess in any case.

There's no chance he won't screw it up.

This is one of my concerns regarding the so called rule book relating to questionable deals all the way through the so called football institutions rules and regs.

Take so called contracts among the various sections of the footballing structure from the bottom up or top down.

When was the last time anyone witnessed the enforcement of such a document ???????????????

A recent example being Arsenals Henry, signed a new contract last year to last 4 years and because a director leaves he uses it as an excuse to renounce the agreement along with his phoney pledge to all connected to the club, not least the supporters.

Try explaining to young ones both at Arsenal in the above and eventually to the Man City supporters ect. when the predictable outcome eventually happens.

If i was an Arsenal supporter i,d be well and truly P****D Off as surely his loyalty is to the club

not the ex director but non the less he uses this as a legitimate reason to go to Barca.

What a disgrace and a let down for them.

As for Man Cities case once Thaksin was allowed to complete the a so called take over.

Eventually it would fall into disrepute and as things are bound to go wrong i,d really like to know how the f*** they are going to get out of it once paers are signed....because you can bet your last satang the footballing authorities will run a mile before engaging legal establishments to sort it out.

That is of course going on past performances they Premier, league ect. ect. have displayed in commitment to justly doing the right thing.

This is why they need to put the take over on hold now and allow the ongoing investigations to be completed.

They also need to be 100% sure Thakisn is using legitimately made funds via honest endeavours and not money laundering ill gotten gains.

They also need to be able to trace them to as, when were from and how he acquired them.

If he has nothing to hide then surely he will make available ALL the necessaries along with documents original in their content and not doctored for convenience.

The Honest / Dishonest intentions phrase comes to mind.

If he is found to be of the stature an honest establishment like the football associations should expect and of course the U.K government would endorse as such................................................

Then as they say in Thailand UP TO YOU but be very cautious if the above is ever achievable.

marshbags

[sriracha john]

Former Thai PM increases stake in Manchester City

LONDON — Former Thai prime minister Thaksin Shinawatra increased his stake in Manchester City to 65.78 per cent on Thursday.

The purchase of a further 9.88 per cent of shares edged Thaksin closer to the 75 per cent mark he needs to reach to delist the club and take it into private ownership.

The newly acquired shares are likely those of broadcaster BSkyB, the only major remaining shareholder.

City is set to name former England coach Sven-Goran Eriksson as manager once Thaksin completes his takeover, although Thailand's government is investigating the source of the funds that Thaksin is using.

Thaksin, who was ousted in a coup last September, made an 81.6-million-pound bid this month and the Premier League club recommended its shareholders accept it.

- Associated Press

[sriracha john]

Manchester City ask small shareholders to 'sell quickly'

Manchester City have appealed to the club's small shareholders not to hold up the appointment of Sven-Goran Eriksson by delaying selling to new Manchester City owner Thaksin Shinawatra.

The former Thailand prime minister has said he will not complete the signing of the former England coach until he has got the 75% of shares needed to take the club into private ownership.

And with Eriksson already having earmarked his transfer targets, the quicker City get the Swede into the job the better.

Eriksson has also just completed his compensation deal from the Football Association, so he is free to take another job.

Thaksin is now at the 70% mark, having mopped up the last two shareholdings of 3% - 1.7million shares - bought today.

The two holdings were of £900,000 and £800,000, and that leaves only small shareholders of 2% or less to agree to sell up.

In all there are 54 million City shares on the market, and all the major holders have now sold, with just the fans with 10s, 20s or a few hundred each still to agree.

Most shareholders received their formal acceptance documents from the club in the last 48 hours, with the deadline being July 17.

But City want the deal struck much quicker than that, so Eriksson can get to work. Time is not on City's side as they approach the new season and next week's return to pre-season training for their playing staff.

A City spokesman said: 'We would appeal to our fans now with small shareholdings to sell as quickly as possible.

'Thaksin is approaching the 70% mark now. Things have not been helped by the postal strike today which has delayed things, but he could reach 75% by early next week if things go well.

'If our fans want to see the pace towards a new future they want, then they need to get cracking and sell quickly to speed things along.'

- ESPN

[Tony Clifton]

You're gonna regret iiiit.

[sriracha john]

Thaksin's City bid in balance

Thaksin Shinawatra's takeover of Manchester City and the return of Sven-Goran Eriksson to English football remains in the balance as investigations continue into the money the former Thai prime minister is using to buy the club.

Unconfirmed reports in Thailand claimed that a "British law enforcement agency" had contacted Thailand's Anti-Money Laundering Office to ask what action they want taken on £150 million that Thaksin deposited in London banks after he was removed as prime minister in a military coup last September.

The Thai government has already frozen a number of Thaksin's bank accounts in Thailand that collectively contain £1.1 billion, and it is this £150 million that Thaksin is using to invest in football.

If there were moves to have his London bank accounts frozen, the takeover and Eriksson's return could be at risk, although the Thai government believe he has accounts in Switzerland.

The former England manager would only be interested in coming to Eastlands if it was accompanied by the transfer funds the takeover would generate, and his appointment will only be confirmed once Thaksin has the 75 per cent of Manchester City shares that would give him full control. That landmark is due to be passed by the middle of next week.

The law enforcement agency was not named in reports carried in newspapers, but money laundering would fall under the jurisdiction of the Serious Organised Crime Agency (SOCA). A British Embassy spokesman in Bangkok said information sharing between the two governments was usual, but added: "The existence of exchanges involving financial investigations must remain confidential."

Thaksin has been charged by the Thai government with false disclosure of assets, although no request has been made for his extradition. Thaksin denies all wrong-doing and insists the campaign against him is politically motivated.

This morning Thaksin has control of 70 per cent of Manchester City and merely needs to mop up the club's small shareholders, who own 9.2 per cent, to take him past the 75 per cent barrier.

With the players due to report for pre-season training next week without a manager in place, City yesterday appealed to those small shareholders to sell soon. A spokesman said: "If fans want to set the pace towards the future they want, they need to get cracking and sell quickly."

- The Telegraph (UK)

[DenThai]

- The Telegraph (UK)

"The Daily Telegraph" if you will. Not to be confused with the more prestigious "Belfast Telegraph".

[Netfan]

Looks like the Man City board may learn "you dance with the devil...."

This question may have already come up, but- let's say the deal goes through and everything is fine. I would assume that with Eriksson named as manager and a few stars brought in Man City will be big on the EPL TV schedule. Will UBC (oops- True) decide (with no outside pressure, of course) that it's in the country's best interest to blackout Man City games here? Go to the "programming will return shortly" screen when the camera goes to Thakkie sitting in the owners box? Or just have the vasoline guy ready to block out his face?

[DenThai]

Looks like the Man City board may learn "you dance with the devil...."

This question may have already come up, but- let's say the deal goes through and everything is fine. I would assume that with Eriksson named as manager and a few stars brought in Man City will be big on the EPL TV schedule. Will UBC (oops- True) decide (with no outside pressure, of course) that it's in the country's best interest to blackout Man City games here? Go to the "programming will return shortly" screen when the camera goes to Thakkie sitting in the owners box? Or just have the vasoline guy ready to block out his face?

….and if he was smoking a cigarette it would give the censors apoplexy! (I suppose that will be illegal in football stadiums from tomorrow in England)

Dancing with the devil? I assume you referring to the disgraced Sven.

For Man City’s sake I hope the deal is allowed to go through, although I am sure the Thai government is doing it's damnedest to scupper it like feeding possibly false stories about a "British Agency" to the press. I guess that previously the fans would have provoked the board into refusing Thaksins takeover. But the Army dictatorship has given him credibility.

I trust in British fair play and believe the British Government will not allow any of Thaksin funds to be frozen until democracy is restored, even if credible evidence is presented identifying the money has been corruptly obtained.

[Plus]

As an owner of the business Thaksin will be subject to different regulations than contracted players. There are certain requirements for those sitting on the board, too.

It's not too difficult to imagine that Thai request for extradition might have some inconvenient legal repercussions. Brits could possibly detain him before releasing on bail, for example.

Also some shares in the company Thaksin is using to pay for Man City belong to a company registered in Thailand, leaving it vulnerable to being frozen. Difficult to predict what would happen if Thais come down heavily on this company under one pretext or another.

[DenThai]

As an owner of the business Thaksin will be subject to different regulations than contracted players. There are certain requirements for those sitting on the board, too.

It's not too difficult to imagine that Thai request for extradition might have some inconvenient legal repercussions. Brits could possibly detain him before releasing on bail, for example.

Also some shares in the company Thaksin is using to pay for Man City belong to a company registered in Thailand, leaving it vulnerable to being frozen. Difficult to predict what would happen if Thais come down heavily on this company under one pretext or another.

Thaksins company is registered in England so if a Thai court seizes shares in that company belonging to a Thai company it would have no effect on the UK company unless they had voting rights and a shareholders meeting was called to remove Thaksin or wind up the company. But he would have thought of all that. Above all else he is no fool.

Reportedly Thaksin is funding his purchase with cash and debt. Why use debt? Possibly to alleviate fears that if he used cash obtained from areas he is being investigated could risk a Thai court attmepting to seize Man City.

He may be using shares as collateral, I've no idea. It is inconceivable that his lenders and Man City board would not have taken into consideration the possibility of this collateral being seized or frozen. In any case it would only become an issue if Thaksin defaulted on loan repayments.

I have no doubt the delays in getting the board to accept the offer and Manchester City council approval was to sort out all these issues.

As for extradition. What is the chance of an English court ordering the extradition of an elected Prime Minister to a military dictatorship on a scale of zero to nil? After an election maybe but the judge would have to be presented with evidence of his crime that would be accepted as justifying commital by a magistrate if the crime had been committed in England, assuming his crimes would also be crimes in England. Because of his stature that effectively means a trial before the extradition judge and could drag on for years.

Edited June 30, 2007 by DenThai

[sriracha john]

- The Telegraph (UK)

"The Daily Telegraph" if you will. Not to be confused with the more prestigious "Belfast Telegraph".

my apologies... I just noticed a smaller heading on their site saying Daily Telegraph as they had simply used "Telegraph" in their main heading... which I didn't want to use as a stand alone so as to not be mistaken for an actual telegraph.

[sriracha john]

Man City’s Thai tycoon faces arrest

The former Thai prime minister who is poised to buy Manchester City football club could be extradited from Britain to face corruption charges in his home country. The Thai embassy in London has confirmed that a warrant will be issued for the arrest of Thaksin Shinawatra if he refuses to return to Thailand.

Thaksin, who was overthrown by a military coup in September, is understood to be only days away from taking control of the Premiership club in a deal valued at £81m. He is said to be lining up Sven-Goran Eriksson, the former England coach, as the club’s new manager.

Inquiries by The Sunday Times have established that the financing of the deal is far from straightforward. The main shareholder in the company buying Manchester City is an obscure Bangkok property firm that is said to be “controlled” by Thaksin and his family, although he has no significant stake in it.

The property firm is understood to have received millions from the sale of Thaksin’s Shin Corporation – a transaction that is under investigation for potential breaches of the law.

The Thai authorities have indicated that they wish to know whether the money being used in the Manchester City takeover came from the proceeds of alleged criminal activity.

“If that is the case, the ownership of the football club must be questioned,” said Sunai Manomai-udom, head of the Thai justice ministry’s department of special investigations.

Thaksin, a 57-year-old billionaire, claims the investigations into his and his family’s financial affairs are without foundation and politically motivated. Many of his assets in Thailand have been frozen.

But his business dealings and chequered political record have caused concern in Britain. David Taylor, a Labour MP, raised the issue in the Commons last week. “If he passes the test that he is a fit and proper person to own a football club, then the Premier League’s rules must be too lax,” said Taylor. “He’s a flaky foreign financier.”

A former policeman, Thaksin built Shin Corporation into a giant conglomerate by exploiting a monopoly in the Thai mobile phone market. He used his wealth to bankroll his rise to political power as a populist “friend of the poor” taking over as prime minister in 2001.

His five-year premiership was often brutal – more than 2,500 people were shot dead by plain clothes policemen as part of a “war on drugs”. After the 2004 Muslim insurgency his security forces waged a reprisal “dirty war” that left almost 100 unarmed captives dead.

It was the sale of the Shin Corporation to a Singapore government company that led to a wave of patriotic indignation which ended with a bloodless coup.

He fled to London and took up residence in a Mayfair flat. Thaksin previously attempted to buy Fulham football club and made a failed bid for Liverpool.

The Manchester City bid has proved far more concrete. The club, which does not own its ground, is valued relatively cheaply at about £21m, the same price Chelsea paid for its former player Shaun Wright-Phillips.

Two weeks ago Thaksin’s newly created company UK Sports Investments (UKSIL) reached agreement with the Manchester City board to buy 55% of its shares and set about purchasing the extra 20% needed to take the club into private ownership. This weekend it effectively has 66% of the shares and is expected to pick up the remainder this week.

The takeover, however, coincides with increasing legal activity in Thailand. The country’s attorney-general has filed the first criminal charges against the former premier and his wife in a corruption case over a land deal.

Separately, investigators have issued a summons to the couple to return home to answer charges of violating Thailand’s securities and exchange act. They are alleged to have concealed their ownership of assets – a serious offence as it is a possible indicator of tax evasion or money laundering.

They have now been given a deadline to return by July 26 or face arrest and possible extradition. Thaksin’s lawyers say he will not return until after December’s democratic elections. He has been warned that his life could be in danger.

Thaksin’s company will take on the club’s £60m debt (hence the total deal value of £81m) and is to pay off £20m of it immediately. To cover the initial purchase cost UKSIL has borrowed £40m from its British holding company. But where did this money originate from?

Documents show that Thaksin only has a £5,700 stake in the UKSIL holding company which will effectively own Manchester City. By contrast his son Panthongtae and daughter Pintongta each own £280,000 of shares in the holding company.

The largest stake is owned by Pramaisuri property company, a business registered in Bangkok. On June 20 – after a number of Thaksin’s Thai-based assets had been frozen – the company bought a £25m stake in UKSIL. It is likely that this injection of cash was to facilitate the football club purchase.

Documents produced by UKSIL’s financial advisers say that Pramaisuri is controlled by Thaksin and his “immediate family”. The question of how Thaksin exerts that control, however, is a mystery as the document also states that Thaksin “now holds no significant stakes in any company”.

A spokesman for Thaksin could not elucidate further last week. “That is a question to which I don’t have an answer,” he said.

It has also emerged that Pramaisuri was one of many Thaksin-connected companies which received money from the Shin Corporation sale. The Thai assets scrutiny committee has been attempting to identify and freeze earnings from the sale pending an investigation into potential breaches of the law.

The UKSIL spokesman said it was able to use the £25m because it had been sitting in a British bank client account after being “routed” out of Thailand before the asset freeze.

He said the key transactions had been scrutinised by Seymour Pierce, its UK investment banker, which had taken legal advice in Thailand to ensure everything was above board.

- Times Online (UK)

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

The murky waters of Thaksin's finances....

[sriracha john]

* wrong thread

Edited July 1, 2007 by sriracha john

[marshbags]

Man City’s Thai tycoon faces arrest

The former Thai prime minister who is poised to buy Manchester City football club could be extradited from Britain to face corruption charges in his home country. The Thai embassy in London has confirmed that a warrant will be issued for the arrest of Thaksin Shinawatra if he refuses to return to Thailand.

Thaksin, who was overthrown by a military coup in September, is understood to be only days away from taking control of the Premiership club in a deal valued at £81m. He is said to be lining up Sven-Goran Eriksson, the former England coach, as the club’s new manager.

Inquiries by The Sunday Times have established that the financing of the deal is far from straightforward. The main shareholder in the company buying Manchester City is an obscure Bangkok property firm that is said to be “controlled” by Thaksin and his family, although he has no significant stake in it.

The property firm is understood to have received millions from the sale of Thaksin’s Shin Corporation – a transaction that is under investigation for potential breaches of the law.

The Thai authorities have indicated that they wish to know whether the money being used in the Manchester City takeover came from the proceeds of alleged criminal activity.

“If that is the case, the ownership of the football club must be questioned,” said Sunai Manomai-udom, head of the Thai justice ministry’s department of special investigations.

Thaksin, a 57-year-old billionaire, claims the investigations into his and his family’s financial affairs are without foundation and politically motivated. Many of his assets in Thailand have been frozen.

But his business dealings and chequered political record have caused concern in Britain. David Taylor, a Labour MP, raised the issue in the Commons last week. “If he passes the test that he is a fit and proper person to own a football club, then the Premier League’s rules must be too lax,” said Taylor. “He’s a flaky foreign financier.”

A former policeman, Thaksin built Shin Corporation into a giant conglomerate by exploiting a monopoly in the Thai mobile phone market. He used his wealth to bankroll his rise to political power as a populist “friend of the poor” taking over as prime minister in 2001.

His five-year premiership was often brutal – more than 2,500 people were shot dead by plain clothes policemen as part of a “war on drugs”. After the 2004 Muslim insurgency his security forces waged a reprisal “dirty war” that left almost 100 unarmed captives dead.

It was the sale of the Shin Corporation to a Singapore government company that led to a wave of patriotic indignation which ended with a bloodless coup.

He fled to London and took up residence in a Mayfair flat. Thaksin previously attempted to buy Fulham football club and made a failed bid for Liverpool.

The Manchester City bid has proved far more concrete. The club, which does not own its ground, is valued relatively cheaply at about £21m, the same price Chelsea paid for its former player Shaun Wright-Phillips.

Two weeks ago Thaksin’s newly created company UK Sports Investments (UKSIL) reached agreement with the Manchester City board to buy 55% of its shares and set about purchasing the extra 20% needed to take the club into private ownership. This weekend it effectively has 66% of the shares and is expected to pick up the remainder this week.

The takeover, however, coincides with increasing legal activity in Thailand. The country’s attorney-general has filed the first criminal charges against the former premier and his wife in a corruption case over a land deal.

Separately, investigators have issued a summons to the couple to return home to answer charges of violating Thailand’s securities and exchange act. They are alleged to have concealed their ownership of assets – a serious offence as it is a possible indicator of tax evasion or money laundering.

They have now been given a deadline to return by July 26 or face arrest and possible extradition. Thaksin’s lawyers say he will not return until after December’s democratic elections. He has been warned that his life could be in danger.

Thaksin’s company will take on the club’s £60m debt (hence the total deal value of £81m) and is to pay off £20m of it immediately. To cover the initial purchase cost UKSIL has borrowed £40m from its British holding company. But where did this money originate from?

Documents show that Thaksin only has a £5,700 stake in the UKSIL holding company which will effectively own Manchester City. By contrast his son Panthongtae and daughter Pintongta each own £280,000 of shares in the holding company.

The largest stake is owned by Pramaisuri property company, a business registered in Bangkok. On June 20 – after a number of Thaksin’s Thai-based assets had been frozen – the company bought a £25m stake in UKSIL. It is likely that this injection of cash was to facilitate the football club purchase.

Documents produced by UKSIL’s financial advisers say that Pramaisuri is controlled by Thaksin and his “immediate family”. The question of how Thaksin exerts that control, however, is a mystery as the document also states that Thaksin “now holds no significant stakes in any company”.

A spokesman for Thaksin could not elucidate further last week. “That is a question to which I don’t have an answer,” he said.

It has also emerged that Pramaisuri was one of many Thaksin-connected companies which received money from the Shin Corporation sale. The Thai assets scrutiny committee has been attempting to identify and freeze earnings from the sale pending an investigation into potential breaches of the law.

The UKSIL spokesman said it was able to use the £25m because it had been sitting in a British bank client account after being “routed” out of Thailand before the asset freeze.

He said the key transactions had been scrutinised by Seymour Pierce, its UK investment banker, which had taken legal advice in Thailand to ensure everything was above board.

- Times Online (UK)

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

The murky waters of Thaksin's finances....

Considering the reputation of the mans ethics both on the financial front and for me more importantly his human rights records.

Not alledged either for anyone who lives there and has an insight into what has been happening and is familair with the last 5 years of TRT rule.

I find the silent reactions of the football associations deafening and distaseful to say the least.

It is so simple for them to have already made investigations / enquiries as to the Honest / Dishonest actions and questionable ethics that are not becoming of a director owner of one of the premier leagues clubs.

His continual and repetitive " false pretences " are the only thing you can depend on.

Shame on all of them for allowing him this platform to further his self rewarding antics.

I reckon it will come back big time to kick him in the teeth and him finishing up with the sort of negative publicity his worst fears could not ever have imagined.

marshbags

Edited July 1, 2007 by marshbags

[sriracha john]

Thaksin hits back at Thai government over claims of corruption

Manchester City's prospective new owner, Thaksin Shinawatra, has responded to recent attention from the Thai government and its agencies. The former prime minister is furious at what he sees as an ongoing attempt to discredit him and his family.

Thaksin's lawyers said yesterday that charges had been laid against members of the Assets Examination Committee (AEC) by Thaksin and his wife, Pojaman Shinawatra. The committee was set up to look into allegations of corruption by Thaksin and his government. He has claimed his innocence but the accusations have overshadowed his bid to take control at City.

Thaksin could secure the necessary 75 per cent of the shareholding at City this week which would allow him to de-list the company. It would also enable him to appoint a new manager with Sven Goran Eriksson expected to agree a three-year deal.

Thaksin has become increasingly irritated by allegations of wrong-doing in Thailand and seeing his assets frozen. In a statement, his lawyers said: "The sole purpose of the AEC is to sabotage any action by Dr Thaksin Shinawatra. Various actions taken by the AEC were illegal, unfair and against the principle of the rule of law.

"Therefore, Dr Thaksin Shinawatra and his family have no alternative but to take all necessary legal actions to protect himself and his family's reputation and prestige."

- The Independent (UK)

[sriracha john]

City calm about Thaksin extradition threat

Manchester City inisted yesterday that they had complete faith in Thaksin Shinwatra as the club’s new owner announced that he was preparing to sue the Thai Government over what he perceives to be its persistent attempts to discredit him.

Sven-Göran Eriksson, the former England head coach, is expected to be unveiled as manager this week as Thaksin moves closer to owning 75 per cent of the shares, which woulds allow him to take the club off the Stock Exchange. Yet the former Thai Prime Minister’s £81.6 million takeover continues to be dogged by political rumblings in his homeland.

The Thai embassy in London confirmed over the weekend that a warrant will be issued for the arrest of Thaksin, who has had assets of almost £1.3 billion frozen by the Assets Examination Committee, if he refuses to return to Thailand to face corruption charges.

Thaksin and his wife, Pojaman, are alleged to have acted improperly over a land deal four years ago and, in a separate case, stand accused of violating Thailand’s securities and exchange act by concealing assets. They have been ordered to return by July 26 or face arrest and the possibility of extradition.

But Thaksin’s lawyers insist that he will not return until after democratic elections in December and in a statement yesterday revealed their client’s intention to sue the military junta that ousted him from office last September.

The UK and Thailand have had an extradition agreement in place since 1911 and, under Part 2 of the Extradition Act 2003, the Thai embassy in London could seek the help and advice of the Home Office if Thaksin refuses to return to his homeland.

A club source said: “We’re unconcerned about what is being said. We’re looking forward to appointing the new manager and preparing for the season ahead.”

- Times Online

[Plus]

It is inconceivable that his lenders and Man City board would not have taken into consideration the possibility of this collateral being seized or frozen. In any case it would only become an issue if Thaksin defaulted on loan repayments.

This is exactly what has been going on:

Manchester City inisted yesterday that they had complete faith in Thaksin Shinwatra as the club’s new owner announced that he was preparing to sue the Thai Government over what he perceives to be its persistent attempts to discredit him.

And it's not IF Thaksin defaulted, it's WHEN.

What are the chances of that Pramaisiri accounts getting frozen in connection with Shin sale - Thaksin's kids haven't paid their taxes yet, have they? What are the chances of Thai authorities asking Brits to freeze their accounts in the UK on tax evasion charges?

BUT, as I said in another related thread, Thais shouldn't concern themselves with the fate of Manchester City football club. If they have complete faith that Thaksin, with his accounts frozen and arrest warrants issued, will repay all his debts (only half is paid in cash now) on time, it's their right.

>>>>>>>

It's not so much the extradition iteself but rather ensuing restrictions on Thaksin freedom of movement and conduct business that matter more.

[sriracha john]

City saga exposes moral bankruptcy of English football

Thaksin Shinawatra's proposed takeover of Man City has left a dark stain on English football and those who run it

The sheer moral bankruptcy of top-level English football has been horribly exposed by the saga of Thaksin Shinawatra, the former Prime Minister of Thailand, and his proposed takeover of Manchester City.

It seemed on the brink of conclusion - despite revelations of his regime's sinister record - until at the last moment Thailand’s authorities contacted our own, demanding to know whether the money being used to take control of City came from the proceeds of alleged criminal activity. ”If that is the case,” said Sunai Manomaiudom, director-general of the Thai Justice Department of Special Investigation, “the ownership of the football club must be questioned."

This would inevitably mean, were such malfeasance proved, that the Thai Government would demand Shinawatra’s extradition. The Thai police have already frozen £1.1 billion of his assets. But he seems substantially able with funds removed from Thailand to implement his takeover.

It would be ironic if Shinawatra were prevented from acquiring City solely on the basis of alleged financial corruption. For his regime's utter disregard of human rights, as shown by Amnesty International, makes sheer nonsense of the Premier League's demand that any would-be owner of an English club should be “a fit and proper person”.

Yet despite such appalling revelations, we have not heard publically a word in opposition from the chief executive of the Premiership, Richard Scudamore, the chief executive of the FA, Brian Barwick, nor from Richard Caborn, while he was still Minister for Sport.

When the Premiership was formed in an unholy alliance between the FA and the senior clubs of the Football League, I nicknamed it “The Greed Is Good League”, but never did I envisage such a shameless display of greed and cynicism as we are seeing now.

Amnesty International declares it “has received credible reports of police ill-treating and torturing suspects in pre-trial detentions to extract confessions", plus “widespread abuses in the administration of justice” with detainees beaten to death or tortured with hot coals.

Thaksin has been accused of imposing “a climate of impunity that allows human rights violations to continue”. Amnesty International is also concerned over the killing or disappearance of 16 political opponents from 2001 to 2004, especially the disappearance of a leading Muslim lawyer, Somchai Neelaphaijit, who had been defending five Muslim separatists.

In the southern provinces of Thailand, where Malay Muslims are in a majority, martial law was declared and 500 Muslims killed in one year. A campaign against drug dealers resulted in the deaths of an estimated 2,500 people suspected of trading in amphetamines. The list goes on and on. In 2001, Amnesty reported “increased reports of ill treatment and killings” of hill tribe people who face “discrimination with regard to education, health care and other basic rights”.

For his part, Shinawatra insists that all such charges are without foundation and politically motivated by the regime that has followed his overthrow in the military coup.

Shinawatra says he is "taking legal action" against the Assets Examination Committee in Thailand set up by the military junta that removed him from office. Significantly, he does not seem to have taken "legal action" against the appalling accusations made against his regime by Amnesty International.

Perhaps this would be an early opportunity for the new Government Sports Minister, Gerry Sutcliffe, to give a lead and an example.

Supremely oblivious of all this, or simply so anxious to grasp Shinawatra’s money that they apparently could not care less about it, City last week actually issued an appeal to those lesser shareholders who have yet to transfer their shares to do so as quickly as possible, thus enabling Shinawatra to take total control of the club.

Shinawatra and his wife have now been ordered by Thai investigators to come home to face charges of violating Thailand’s securities and exchange act. They are accused of the serious offence of hiding ownership of assets that could indicate tax evasion or money laundering. They must return to Thailand by July 26 or face arrest and possible extradition, but his lawyers insist he won’t go back until after December’s democratic elections. Whether he would do so then is surely problematical.

As things stand, City themselves are impugned of reckless disregard for the moral aspects of their proposed deal, while the Premiership, the FA and the Minister for Sport are notionally little better than accessories after the fact. They can only hope that the takeover never takes place.

In the meantime, there is a dark stain over English football and those who run it. Greed seems good indeed. And money not only talks but shouts to the sky, deafening all other considerations.

- Brian Glanville, Times Online

Edited July 2, 2007 by sriracha john

[sriracha john]

Eriksson's City arrival imminent

Thaksin Shinawatra hopes to have officially installed Sven Goran Eriksson as Manchester City manager in time for the club's first day of pre-season training tomorrow.

The former Thai prime minister has reached agreement for 70 per cent of the club's shares following his £81.6m takeover attempt and now requires only an extra five per cent to take City off the Stock Exchange and for Eriksson to commit to the lucrative three-year contract he agreed in principle last week. The former England manager, lured on the promise of a £2.5m-a-year salary plus bonuses and a £50m transfer fund, wanted the club's ownership secure before making his high-profile return.

All of City's major shareholders have given irrevocable undertakings to accept Thaksin's 40p per share offer and, following last week's appeal by the club for remaining shareholders to follow suit and not delay the process any longer, he is expected to be in a position to delist the company and unveil Eriksson in the next 48 hours.

The Swede's first task, with assistant Roland Andersson responsible for most of the coaching upon his arrival, will be to address City's goal shortage last season by lodging official bids for several proven Premiership strikers. Bolton's former City forward Nicolas Anelka is among the targets and retains widespread support within the club two years after his exit, while Middlesbrough forward Aiyegbeni Yakubu is another viable candidate.

- The Independent (UK)

[sriracha john]

Thaksin In Race Against Time

Prospective Manchester City owner Thaksin Shinawatra is running out of time in his bid to install a new manager before the players return to training on Wednesday.

Former England coach Sven-Goran Eriksson is expected to take charge and seal a three-year deal at Eastlands but only when Thaksin has secured a 75% stake in the club.

At the moment he is slightly short of the mark at which he can de-list the company. With only small shareholders left to buy up, his takeover bid was expected to have gathered momentum by now. Instead, the pace has slowed and City supporters have posted their concerns on fan websites.

However, the former Thai prime minister will not have been helped by the one-day postal strike last Friday.

In an ideal world, Thaksin was looking for the new manager - Eriksson is his preferred choice - and the squad to enjoy a full pre-season together. That may yet happen but the clock is ticking down rapidly and City have yet to confirm their pre-season schedule.

Eriksson has already sounded out Sweden number two Roland Andersson to be his assistant and apparently drawn up a list of transfer targets. The need to strengthen their attacking options is clear. City scored only 10 goals in 19 home Barclays Premier League games last season - a record low for the top flight.

- EuroSport

[hammered]

City saga exposes moral bankruptcy of English football

Thaksin Shinawatra's proposed takeover of Man City has left a dark stain on English football and those who run it

The sheer moral bankruptcy of top-level English football has been horribly exposed by the saga of Thaksin Shinawatra, the former Prime Minister of Thailand, and his proposed takeover of Manchester City.

It seemed on the brink of conclusion - despite revelations of his regime's sinister record - until at the last moment Thailand’s authorities contacted our own, demanding to know whether the money being used to take control of City came from the proceeds of alleged criminal activity. ”If that is the case,” said Sunai Manomaiudom, director-general of the Thai Justice Department of Special Investigation, “the ownership of the football club must be questioned."

This would inevitably mean, were such malfeasance proved, that the Thai Government would demand Shinawatra’s extradition. The Thai police have already frozen £1.1 billion of his assets. But he seems substantially able with funds removed from Thailand to implement his takeover.

It would be ironic if Shinawatra were prevented from acquiring City solely on the basis of alleged financial corruption. For his regime's utter disregard of human rights, as shown by Amnesty International, makes sheer nonsense of the Premier League's demand that any would-be owner of an English club should be “a fit and proper person”.

Yet despite such appalling revelations, we have not heard publically a word in opposition from the chief executive of the Premiership, Richard Scudamore, the chief executive of the FA, Brian Barwick, nor from Richard Caborn, while he was still Minister for Sport.

When the Premiership was formed in an unholy alliance between the FA and the senior clubs of the Football League, I nicknamed it “The Greed Is Good League”, but never did I envisage such a shameless display of greed and cynicism as we are seeing now.

Amnesty International declares it “has received credible reports of police ill-treating and torturing suspects in pre-trial detentions to extract confessions", plus “widespread abuses in the administration of justice” with detainees beaten to death or tortured with hot coals.

Thaksin has been accused of imposing “a climate of impunity that allows human rights violations to continue”. Amnesty International is also concerned over the killing or disappearance of 16 political opponents from 2001 to 2004, especially the disappearance of a leading Muslim lawyer, Somchai Neelaphaijit, who had been defending five Muslim separatists.

In the southern provinces of Thailand, where Malay Muslims are in a majority, martial law was declared and 500 Muslims killed in one year. A campaign against drug dealers resulted in the deaths of an estimated 2,500 people suspected of trading in amphetamines. The list goes on and on. In 2001, Amnesty reported “increased reports of ill treatment and killings” of hill tribe people who face “discrimination with regard to education, health care and other basic rights”.

For his part, Shinawatra insists that all such charges are without foundation and politically motivated by the regime that has followed his overthrow in the military coup.

Shinawatra says he is "taking legal action" against the Assets Examination Committee in Thailand set up by the military junta that removed him from office. Significantly, he does not seem to have taken "legal action" against the appalling accusations made against his regime by Amnesty International.

Perhaps this would be an early opportunity for the new Government Sports Minister, Gerry Sutcliffe, to give a lead and an example.

Supremely oblivious of all this, or simply so anxious to grasp Shinawatra’s money that they apparently could not care less about it, City last week actually issued an appeal to those lesser shareholders who have yet to transfer their shares to do so as quickly as possible, thus enabling Shinawatra to take total control of the club.

Shinawatra and his wife have now been ordered by Thai investigators to come home to face charges of violating Thailand’s securities and exchange act. They are accused of the serious offence of hiding ownership of assets that could indicate tax evasion or money laundering. They must return to Thailand by July 26 or face arrest and possible extradition, but his lawyers insist he won’t go back until after December’s democratic elections. Whether he would do so then is surely problematical.

As things stand, City themselves are impugned of reckless disregard for the moral aspects of their proposed deal, while the Premiership, the FA and the Minister for Sport are notionally little better than accessories after the fact. They can only hope that the takeover never takes place.

In the meantime, there is a dark stain over English football and those who run it. Greed seems good indeed. And money not only talks but shouts to the sky, deafening all other considerations.

- Brian Glanville, Times Online

An excellent article. It is good to see the British journos looking into this murky deal. It is even better to see Mr. Thaksins human rights record given an airing.

[Plus]

BBC has already publisehd the list of Premier League ins and outs for the next season as most clubs have settled their squads. Six players have left Manchester City so far with no one coming yet.

[mrbojangles]

BBC has already publisehd the list of Premier League ins and outs for the next season as most clubs have settled their squads. Six players have left Manchester City so far with no one coming yet.

Tell me about it At the moment i think we are 4/1 on going down this year.

From "not a happy life long City sufferer supporter"

[sriracha john]

No Thaksin drama at Man City

Manchester City inisted yesterday that they had complete faith in Thaksin Shinwatra as the new owner of the football club, which is on the verge of hiring former England coach Sven-Goran Eriksson as team manager. Eriksson took a step closer to signing on as Man City leader after arriving in the city for talks with the club. The Swede is the top target of new owner-in-waiting the former Thai PM Thaksin Shinawatra. And that possibility seems to be growing by the day with Eriksson's arrival at the City of Manchester Stadium on Tuesday night. "We will see tomorrow (Wednesday). I would prefer to speak tomorrow," said Eriksson. With pre-season training starting Wednesday, Eriksson is expected to meet the players before being formally unveiled as the club's new manager this week. Thaksin will take control of the club when his share-holding reaches 75 percent but the process has been slow. He has steadily moved towards the required figure, with only minor shareholders still to sell.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=119896