Thaksin's Takeover Of Man City

[Mobi]

From today's Daily telegraph:

City fans silent over Human Rights wrongs

Eastern promise: Manchester City are big in Bangkok

By the start of next week advisers for Thaksin Shinawatra will complete their examination of Manchester City's books and formally table a £100 million bid for the club.

With a rival offer from City's former full-back Ray Ranson kicked into touch by chairman John Wardle early on, and an unnamed American consortium failing to materialise, the ousted Thai Prime Minister's offer has become the clear frontrunner.

The Thai businessman and politician was at City's Eastlands home earlier this week for talks on the deal and to discuss plans for who should take over from Stuart Pearce as manager following his sacking on Monday.

With so many foreign investors piling into the Premiership over the last three years, fans have become increasingly numb to the prospect of being run by wealthy businessmen from overseas.

But the lack of dissent from City supporters over Thaksin's bid for control of Manchester City is surprising when one considers the outcry which accompanied his abortive attempt to buy into Liverpool three years ago.

Then, human rights groups and supporters united to express their concern at the prospect of one of English football's most revered institutions being part owned by a political leader who had been criticised by the United Nations over Thailand's crackdown on drug dealers and Muslim insurgents in the south of the country.

Since then the political landscape in Thailand has been completely transformed with Thaksin ousted in a military coup last September. He is living in self-imposed exile in Kensington, London, while leaders of the junta have launched criminal proceedings against his wife over a land deal in 2003 which he could also be implicated in.

Members of his family have also been investigated in Thailand over the sale of Thaksin's telecommunications firm, Shin Corp, to Temasek Holdings, an arm of the Singapore Government, in January 2006 in a deal worth $1.88 billion (about £910 million).

The sale attracted criticism because Thaksin's family did not pay tax on the deal. The controversy played a major part in his ousting as Prime Minister last year.

Thaksin's lawyer, Noppadol Pattama, said the corruption allegations were "politically motivated", that he denies them and that if he is charged he will return voluntarily to answer questioning. According to sources in Thailand, however, if he were to return he would risk being arrested.

Whatever the truth about his business dealings, sources in Thailand are questioning his reasons for buying Manchester City. As with his previous attempts to buy Liverpool and Fulham, some are claiming it is little more than a publicity stunt.

With the Premiership hugely popular in Thailand, English football could be seen by Thaksin as a way of boosting his popularity and profile back home.

His attempt to buy 30 per cent of Liverpool in a £65 million deal in 2004 descended into a fiasco as he failed to come up with the money needed to complete the deal.

Despite being a billionaire, he at first attempted to use Thai taxpayers' funds before switching to the country's national lottery. When that led to criticism at home he promised private backing before the deal eventually collapsed in farce.

Thaksin's financial advisers, Seymour Pierce, say it is different this time around. It is understood he has already lodged proof of funds with the investment bank.Seymour Pierce chairman Keith Harris, the respected banker who helped broker Randy Lerner's takeover at Aston Villa and Eggert Magnusson's successful bid for West Ham, says he wouldn't risk his reputation on the City deal if he felt Thaksin was not serious.

"We have done a lot of background checking on this guy," said Harris. "We are satisfied with what we have found out."

Thaksin's supporters point to the health reforms and economic prosperity his government delivered during his five and a half years as Prime Minister.

The 58-year-old former policeman now claims he has "washed his hands of politics". His lawyer Noppadol added: "He is a genuine sportsman. He loves sport and there is no other motivation for him in this deal."

Despite that, it is widely believed in Thailand that he will seek a return to power at the first available opportunity.

"This is a guy who doesn't quit," said Thitinan Pongsudhirak, professor of political science at Bangkok's Chulalongkorn University. "It's not in his nature.

"This is a win-win situation for him. It allows him to stay in the limelight, make news headlines and remain connected to his support base.

"Manchester City under Thaksin will be Thailand's new team. It's going to be a new focal point, it's going to allow him to get a lot of political mileage and score points at home."

But human rights groups believe City fans should be concerned at the prospect of their club being owned by a man who oversaw the deaths of 2,500 small-time amphetamine dealers in a 'war on drugs' in 2003.

Brad Adams, Asian director of Human Rights Watch, said: "If I was a Manchester City fan I would be very afraid of where this all might lead. Supporters have to ask themselves the question: do they want a serving Prime Minister with this sort of background and record running their club?"

City fans, meanwhile, seem unconcerned. Supporters' club spokesman Kevin Parker said: "If you could hand pick who you wanted to invest in your football club, he wouldn't be top of your list. But we desperately need investment in the team."

I'll believe it when Man City see the colour of his money.

what say you?

[TAWP]

http://www.thaivisa.com/forum/index.php?showtopic=117362

[Prakanong]

I am with you Mobi - when they see the colour of his money I will believe it.

Reports in some press say he was consulted on the sacking of Pearce and he approved - he supposedely wants a foreign manager.

He is also talking loudly about requiring a 50 million GBP transfer fund available.

Well if he puts up his money it will be fun to see how he plays with the big boys and not just as a big boy in a smalll pond as before.

[lazeeboy]

I am with you Mobi - when they see the colour of his money I will believe it.

Reports in some press say he was consulted on the sacking of Pearce and he approved - he supposedely wants a foreign manager.

He is also talking loudly about requiring a 50 million GBP transfer fund available.

Well if he puts up his money it will be fun to see how he plays with the big boys and not just as a big boy in a smalll pond as before.

true or not ,he has the money to own a football club .he will find it a lot harder to corrupt things over there,nobody will roll over and do what he wants .going on his past the f.a. will keep a close eye on his movement .

[Heng]

Yeah nothing like the clean uncorrupted world of professional sports team ownership. How will he possibly fit in?

[Prakanong]

I am with you Mobi - when they see the colour of his money I will believe it.

Reports in some press say he was consulted on the sacking of Pearce and he approved - he supposedely wants a foreign manager.

He is also talking loudly about requiring a 50 million GBP transfer fund available.

Well if he puts up his money it will be fun to see how he plays with the big boys and not just as a big boy in a smalll pond as before.

true or not ,he has the money to own a football club .he will find it a lot harder to corrupt things over there,nobody will roll over and do what he wants .going on his past the f.a. will keep a close eye on his movement .

No doubt he has the money but given the history with the Livrpool debacle when it looked like it was going to be his money before the people of Thailand ere going to buy it (said wryly) I will beleive it when he transfrs the money into the current owners bank account and puts up the extra money for players.

I alludedto nobody rolling over for him as there are bigger boys in the game but even if it is harder to corrupt our football does need a clean up - so much money involved and all the cowboys circle around.

[Mobi]

Yeah nothing like the clean uncorrupted world of professional sports team ownership. How will he possibly fit in?

In many ways I hope he succeeds in his takeover attempts.

It will be very interesting watching him play his 'games' with the 'big boys' of the premier league. Perhaps he will fit in perfectly

I still find it quite unlikely that he will ever shell out the dosh - I'm still inclined to believe it's just a political ploy to keep his name in the papers. Even the Thai Football correspondent in the Post wrote an article recently, saying how unlikely it was for a Chinese/Thai business man like Thaksin to 'throw money away' on a notoriously money losing business like football.

We shall see - maybe he's got money to burn

BTW did you know the city fans are calling him 'Sinatra'? (An ageing mafioso-sponsored thug who likes to do things his way .)

[Heng]

Yeah nothing like the clean uncorrupted world of professional sports team ownership. How will he possibly fit in?

BTW did you know the city fans are calling him 'Sinatra'? (An ageing mafioso-sponsored thug who likes to do things his way .)

BTW did you know that Sinatra doesn't do anything his own way any more?

[Robski]

I don't suppose The Inland Revenue will investigate the source of his money, once it is invested into Man City it will become legitimate.

[gummy]

I don't suppose The Inland Revenue will investigate the source of his money, once it is invested into Man City it will become legitimate.

For an investment of this size, and assuming it is not already in England, or indeed assuming that the legal purchase will be transacted in the UK, then the BOE/Commercial Banks will require to be satisfied where these significant funds are from in order to comply with anti-money laundering requirements.

So assuming, from a UK perspective, that they are satisfied, and hence allow the transaction, it must then indicate that those fund are indeed from a legitimate source. I should think that this would prove to the Thai authorities that indeed these funds were in fact previously undeclared to them?

[Prakanong]

I don't suppose The Inland Revenue will investigate the source of his money, once it is invested into Man City it will become legitimate.

For an investment of this size, and assuming it is not already in England, or indeed assuming that the legal purchase will be transacted in the UK, then the BOE/Commercial Banks will require to be satisfied where these significant funds are from in order to comply with anti-money laundering requirements.

So assuming, from a UK perspective, that they are satisfied, and hence allow the transaction, it must then indicate that those fund are indeed from a legitimate source. I should think that this would prove to the Thai authorities that indeed these funds were in fact previously undeclared to them?

There is speculation in todays Straits Times that the BOT would not allow him to take the money out if its in Thailand - they could declare it "Not in Thailands interest"

If the money is outside Thailand then I can not see any probs - Temasek money is clean ;-)

[gummy]

I don't suppose The Inland Revenue will investigate the source of his money, once it is invested into Man City it will become legitimate.

For an investment of this size, and assuming it is not already in England, or indeed assuming that the legal purchase will be transacted in the UK, then the BOE/Commercial Banks will require to be satisfied where these significant funds are from in order to comply with anti-money laundering requirements.

So assuming, from a UK perspective, that they are satisfied, and hence allow the transaction, it must then indicate that those fund are indeed from a legitimate source. I should think that this would prove to the Thai authorities that indeed these funds were in fact previously undeclared to them?

There is speculation in todays Straits Times that the BOT would not allow him to take the money out if its in Thailand - they could declare it "Not in Thailands interest"

If the money is outside Thailand then I can not see any probs - Temasek money is clean ;-)

Of course their money is OK, it is the issue of Thaksin,s family not paying tax on it, and hence, if proven, defrauding Thailand of funds that may eventually lead to the potential international request for sequestration of his/family's assets if not paid. Only then could this have an impact on Man City