Thaksin Completes Man City Buyout

[sbk]

It's really their own business, their reputation. Usually they would need to keep it clean to attract more investment, but maybe rules like transparency and good governance apply only to developing nations asking for aid. In the UK apparently everything goes.

They will eventually realise that the rules are there for a reason (if they don't close their doors to foreign tycoons on the run from the law).

Man City would be the first to see how Thaksin promises really work. He set a three year deadline for himself.

Probably as well as his promise to eliminate the traffic problem in Bangkok within 6 months when he was in the Cabinet

[hammered]

It's really their own business, their reputation. Usually they would need to keep it clean to attract more investment, but maybe rules like transparency and good governance apply only to developing nations asking for aid. In the UK apparently everything goes.

They will eventually realise that the rules are there for a reason (if they don't close their doors to foreign tycoons on the run from the law).

Man City would be the first to see how Thaksin promises really work. He set a three year deadline for himself.

Probably as well as his promise to eliminate the traffic problem in Bangkok within 6 months when he was in the Cabinet

What was the promise about no drugs in Thailand?

[Tony Clifton]

It's really their own business, their reputation. Usually they would need to keep it clean to attract more investment, but maybe rules like transparency and good governance apply only to developing nations asking for aid. In the UK apparently everything goes.

They will eventually realise that the rules are there for a reason (if they don't close their doors to foreign tycoons on the run from the law).

Man City would be the first to see how Thaksin promises really work. He set a three year deadline for himself.

Probably as well as his promise to eliminate the traffic problem in Bangkok within 6 months when he was in the Cabinet

Believe it or not, part of his plan was to use Sikorsky helicopters and a sling to remove broken down cars off the roads.

[A_Traveller]

Probably as well as his promise to eliminate the traffic problem in Bangkok within 6 months when he was in the Cabinet

Believe it or not, part of his plan was to use Sikorsky helicopters and a sling to remove broken down cars off the roads.

I recall that all that came of Deputy PM for Roads was the well publicised helicopter flights. Oh and the point that the then DPM was *issed at not getting Foreign Minister again, something that he waited to have his revenge for later.

Regards

[A_Traveller]

On the nett worth point, Thaksin was not worth anything like 2B USD in the early '90s. The group was realistically valued at less then 1B USD. However, if he was boasting about offshore funds which did not form part of asset declarations as Foreign Minister, Deputy Prime Minister and finally as Prime Minister, then he might well be guilty of a crime. However, making an assumption here, the going rate of the statute of limitations is 10 years so the FM & DPM are, I guess, moot.

It is interesting that in this 10 year mood, that there never was a detailed analysis, that I know of, how it was that Shin {in many peoples view a poorly run operation from a management perspective} had the 'wisdom' to hedge their USD exposure, allegedly in January 97. Given what we now know, from books and articles by the participants am I alone in wondering about exactly when Shin hedged and on the basis of what information?

Regards

[younghusband]

It's really their own business, their reputation. Usually they would need to keep it clean to attract more investment, but maybe rules like transparency and good governance apply only to developing nations asking for aid. In the UK apparently everything goes.

They will eventually realise that the rules are there for a reason (if they don't close their doors to foreign tycoons on the run from the law).

Man City would be the first to see how Thaksin promises really work. He set a three year deadline for himself.

Doesn't Thaksin have to pass a "fit and proper person" test now the transaction has gone through?

Still one has to stifle a giggle at Plus's comments on the UK.The UK has its faults but in any fairminded analysis (eg Transparency International's rankings), the UK is rated very high and Thailand very low in terms of honesty in business, good governance etc.Still the more obsessive anti-Thaksin faction would find morality problems at the Vatican if Thaksin took up residence there.The trouble is that living in an inward looking goldfish bowl distorts judgement.I think most of us accept Thaksin is not a very admirable man, but surely it's time to leave him be and focus on getting rid of this dreadful and incompetent junta.

[Mid]

but surely it's time to leave him be and focus on getting rid of this dreadful and incompetent junta.

even with the large dose of truth in the above ,

until someone is seen to settle their debit to society the cycle will repeat it's self .

[Big A]

Toxin can buy an entire foreign football club, but foreigners in Thailand can't even own a blade of grass?

[hammered]

On the nett worth point, Thaksin was not worth anything like 2B USD in the early '90s. The group was realistically valued at less then 1B USD. However, if he was boasting about offshore funds which did not form part of asset declarations as Foreign Minister, Deputy Prime Minister and finally as Prime Minister, then he might well be guilty of a crime. However, making an assumption here, the going rate of the statute of limitations is 10 years so the FM & DPM are, I guess, moot.

It is interesting that in this 10 year mood, that there never was a detailed analysis, that I know of, how it was that Shin {in many peoples view a poorly run operation from a management perspective} had the 'wisdom' to hedge their USD exposure, allegedly in January 97. Given what we now know, from books and articles by the participants am I alone in wondering about exactly when Shin hedged and on the basis of what information?

Regards

I have heard many strange rumors concerning that period but think it best not to start discussing it on this board. It is more recent events that are pertinent now.

Enough to say the whole possibilty of the TRT venture became possible because of what happened then.

[Jersey_UK]

You have lost me there

I was saying it may (hopefully) be good for the youth of Thailand.

Whats posh spice got to do with anything

Are you mixing your red up with the blue

Mixing up red and blue??!!! - the horror!

I was perhaps trying to be a bit too subtle.........I was referring to the habit of football fans in the UK to make offensive chants against the opposition (and own chairman!)......and used the example of Posh as her husband was often questioned (by 50,000 chanting fans) as to whether she "took it up the ar#e"........and similar stuff

Now, I figure it will be a no brainer for similar chants (or worse, their is more scope!) to be made about Thailand, Thai women, Thaksin, Buddha and even Mr King..........because they will be offensive (albeit also often funny!) and will be regarded as "better" if drawing a reaction from anyone..........

Still, if someone comes to another country and buys a business without understanding the local culture thinking that everything will be ok simply "because I am rich" then IMO they deserve all they get!........I suspect that Mr T has not had too many dealings with "the Great British public" apart from those who want something from him.............

(Mods feel free to edit / delete any of this post!)

[Mobi]

City target Champions League spot

Mark Kleinman in Hong Kong, Sunday Telegraph

The new owner of Manchester City yesterday warned Sven-Goran Eriksson he would insist on being consulted about the Swede's transfer targets and suggested he expected the club to be challenging for a Champions League place within three years.

Thaksin Shinawatra, ousted as Thai prime minister in a military coup last autumn, will fly to London tomorrow to hold his first face-to-face talks with Eriksson since his £81.6 million takeover of City.

Shinawatra's UK Sports Investments vehicle, which declared the City takeover unconditional on Friday, now needs only a handful more shares to allow him to de-list the club from the Stock Exchange.

Speaking during a three-day visit to Hong Kong, the latest in a string of foreign owners of Premiership clubs said the City squad needed urgent strengthening ahead of the new campaign, which begins on Aug 11.

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Eriksson, who has vowed to restore City to the English footballing elite, has already been linked with the Middlesbrough forward Yakubu, Arsenal's Freddie Ljungberg and the former City winger Shaun Wright-Phillips. City are in desperate need of new signings to bolster a midfield shorn of the bite of Joey Barton and a forward line who last season registered the lowest goal tally in the history of the top flight.

However, the club's new owner distanced himself from talk of a £50 million transfer kitty for the former England coach, who is expected to earn about £3 million annually from his three-year deal.

"Money is not everything," said Shinawatra. "Wisdom comes first. It is difficult to do everything in the first year but within three years I expect to be right up there."

Although he said he expected to be consulted about transfer activity, Shinawatra said he would not interfere in the playing side of the club. "I will leave that to the professionals. He [Eriksson] is a very experienced coach who will be loved by the players," he said.

The former Thai leader may need to brush up his knowledge of his new plaything. Asked by The Sunday Telegraph to name as many of the current squad as possible, his answer began - and ended - with City's Chinese international midfielder, Sun Jihai.

Addressing concerns that his takeover of the Eastlands club was not a popular choice with City supporters, Shinawatra insisted that he had had a positive reaction from fans.

"They want someone to take the club forward. They have been sleeping for 31 years without a trophy," he said. "The fans are already calling me 'Frank' because they pronounce 'Shinawatra' as 'Sinatra'."

Shinawatra dismissed concerns about his relations with the Thai military government, which has demanded he return to Thailand to face corruption charges. "When the time is right, I will definitely go back," he said. "It is my home and I love my country."

He insisted he would attend City's home friendly against Valencia on Aug 4, when he intends to introduce fans to aspects of their new owner's domestic culture. "I will be bringing some Thai [music] artists and giving the supporters Thai food," he said.

Shinawatra also said he would be at West Ham for City's first game of the Premiership season and rejected suggestions that he could fail the Premier League's standard 'fit and proper persons' test, applied to the owners of all English clubs.

His justification for expecting to pass the test may, however, provoke wry smiles. Shinawatra suggested that an award from the FIFA president, Sepp Blatter, for supporting football in Thailand was sufficient vindication of his credentials.

"I played a lot of football as a schoolboy and when I owned a cable-TV business I bought the Premiership and FA Cup rights," he added.

Hm.. Some typical 'Sinatra' type quotes here.....

[DeputyDawg]

Will be funny to see what the new sponsor will be

Yes... Thais reckon existing sponsor 'Thomas Cook' is unlucky afterall 'cook' in Thai means 'prison'!!

Incidentally when I met Thaksin in 1998, he claimed to have US$1bn of assets overseas, so I think that finding a couple of US$100m to finance City should hardly have been a problem...

Can I be your friend?

[DeputyDawg]

He insisted he would attend City's home friendly against Valencia on Aug 4, when he intends to introduce fans to aspects of their new owner's domestic culture. "I will be bringing some Thai [music] artists and giving the supporters Thai food," he said.

Manchester gets some culture LOL

[meemiathai]

He insisted he would attend City's home friendly against Valencia on Aug 4, when he intends to introduce fans to aspects of their new owner's domestic culture. "I will be bringing some Thai [music] artists and giving the supporters Thai food," he said.

Manchester gets some culture LOL

No worries. The brits certainly are no xenophobic people. We'll see.

[kmart]

He insisted he would attend City's home friendly against Valencia on Aug 4, when he intends to introduce fans to aspects of their new owner's domestic culture. "I will be bringing some Thai [music] artists and giving the supporters Thai food," he said.

Manchester gets some culture LOL

Manchester needs someone with a proven track record of being "tough on drugs" though.

[Tony Clifton]

Being a new football fan, I do not yet have a favorite Premier League team and never will if he is considered a fit and proper person. Plenty of other leagues to watch.

Edited July 8, 2007 by Tony Clifton

[Plus]

Doesn't Thaksin have to pass a "fit and proper person" test now the transaction has gone through?

Yes, though apparently what is left is not a test but rather a friendly chat about his new responsibilities towards the team and the fans.

Still one has to stifle a giggle at Plus's comments on the UK.The UK has its faults but in any fairminded analysis (eg Transparency International's rankings), the UK is rated very high and Thailand very low in terms of honesty in business, good governance etc.

Giggle all you want, I can give you at least half a dozen articles about questionable Premier League and FA business pracitices, and some local ones, too - taking notes on how that business works there. People are watching.

What is the basis of your denial when there's such a widespead concern over this issue? Admit it - this time they screwed up (relatively speaking). There's no shame in accepting your own country's faults - it's actually a sign of greatness. There's an ongoing discussion in the Nation on what "great" in Great Britain stands for, btw.

Still the more obsessive anti-Thaksin faction would find morality problems at the Vatican if Thaksin took up residence there.The trouble is that living in an inward looking goldfish bowl distorts judgement.I think most of us accept Thaksin is not a very admirable man, but surely it's time to leave him be and focus on getting rid of this dreadful and incompetent junta.

You can focus on it in appropriate threads, this one is called "Man City buyout". And if you read this thread again you'll see that no one gives a ###### whether Thaksin can buy a club or not. I haven't seen any frustrated posts by so called anti-Thaksing brigage (if it actually exists). People are just commenting on the topic, in a detached manner. Leave them be.

[Jai Dee]

Abhisit describes Dr Thaksin's election as head of Golf Association amusing

Democrat Party Leader Abhisit Vejjajiva (อภิสิทธิ์ เวชชาชีวะ) said ousted prime minister Thaksin Shinawatra's election as president of the Professional Golf Association of Thailand (PGAT) was a joke. Mr Abhisit also questioned the originality of the cash to fund Dr Thaksin's purchase of Manchester City.

Mr Abhisit urged the National Counter Corruption Commission and Bank of Thailand must investigate into the originality of the cash to fund the football team. However he views that the deposed premier should return to Thaiand to defend himself in court following an order from the Assets Examination Committee (AEC) filed lawsuits against him.

Source: Thai National News Bureau Public Relations Department - 09 July 2007

[younghusband]

Doesn't Thaksin have to pass a "fit and proper person" test now the transaction has gone through?

Yes, though apparently what is left is not a test but rather a friendly chat about his new responsibilities towards the team and the fans.

Still one has to stifle a giggle at Plus's comments on the UK.The UK has its faults but in any fairminded analysis (eg Transparency International's rankings), the UK is rated very high and Thailand very low in terms of honesty in business, good governance etc.

Giggle all you want, I can give you at least half a dozen articles about questionable Premier League and FA business pracitices, and some local ones, too - taking notes on how that business works there. People are watching.

What is the basis of your denial when there's such a widespead concern over this issue? Admit it - this time they screwed up (relatively speaking). There's no shame in accepting your own country's faults - it's actually a sign of greatness. There's an ongoing discussion in the Nation on what "great" in Great Britain stands for, btw.

Still the more obsessive anti-Thaksin faction would find morality problems at the Vatican if Thaksin took up residence there.The trouble is that living in an inward looking goldfish bowl distorts judgement.I think most of us accept Thaksin is not a very admirable man, but surely it's time to leave him be and focus on getting rid of this dreadful and incompetent junta.

You can focus on it in appropriate threads, this one is called "Man City buyout". And if you read this thread again you'll see that no one gives a ###### whether Thaksin can buy a club or not. I haven't seen any frustrated posts by so called anti-Thaksing brigage (if it actually exists). People are just commenting on the topic, in a detached manner. Leave them be.

I'm not quite sure what I meant to be in denial over.I've already pointed out that Britain has its faults.It's difficult to focus on your concerns because you veer wildly between criticism of the UK standards of governance, transparency etc and then come on a little priggishly if discussion strays from the fine details of the Man City purchase.Anyway, trying to be positive, I note your endorsement of comments in a detached manner.Long may that continue.

However my comment remains relevant.We live in a goldfish bowl and our concerns aren't really shared to the same degree by the world outside.

[Plus]

I'm not sure I have any particular concerns, I'm just saying that Man City buyout saga gives bad example in terms of transparency and good governance. Should I be concerned about it?

If Thaksin finally buys a club he can apply for permanent residency there and enjoy lots of rights, particularly protection from prosecution from Thailand. Clever way to get out of legal troubles. Talk about legalised money laundering. People are watching. Not you and me, probably, but those who might need to legalise and protect their money.

Should I be concerned? It's not my reputation, you know.

[John K]

Graft busters freeze more assets of Thaksin's associates and family

Assets Examination Committee freezes more assets of ousted PM's associates and family, including of Pramai Suri Co, Ltd that involved in taking over England's Manchester City.

The freezing of Bt1.9 billion came after the meeting of the committee on Monday.

The amount consisted of Bt800 million of Pramai Suri, Bt100 million of Somporn Associates and cashier cheques of Bt600 million of Thaksin's son; Panthongtae Shinawatra.

Pramai Suri Co, Ltd is part of Thaksin's consortium that took over Manchester City.

The first signs of indigestion appear in the sellers stomach.

[younghusband]

I'm not sure I have any particular concerns, I'm just saying that Man City buyout saga gives bad example in terms of transparency and good governance. Should I be concerned about it?

If Thaksin finally buys a club he can apply for permanent residency there and enjoy lots of rights, particularly protection from prosecution from Thailand. Clever way to get out of legal troubles. Talk about legalised money laundering. People are watching. Not you and me, probably, but those who might need to legalise and protect their money.

Should I be concerned? It's not my reputation, you know.

No I don't think you should be concerned: it's simply not very important or interesting.

Incidentally you are misinformed on what additional security the purchase of Man City gives Thaksin.If he is considered by the British courts to have a prima facie case to answer in Thailand it makes no difference whether he is a permanent resident or not.However realistically this will have to await Thailand's return to democracy before being taken forward.As I have pointed out before he would be on the plane from Heathrow very shortly if Thailand pressed the issue of the drugs war murders.I expect this to happen as the Thais sometimes say" in the afternoon of my next life"

[Tony Clifton]

The drug war murder charges will be served for dessert.

[younghusband]

The drug war murder charges will be served for dessert.

Yeah, right.

It's like charging Hitler (a comparison the anti-Thaksinistas frequently like to make, so I am indulging their historical illiteracy) assuming he hypothetically survived the war, with tax evasion as the main misdemeanour..and then almost as an afterthought mentioning the holocaust.

Edited July 9, 2007 by younghusband

[Tony Clifton]

It won't be done under this government.

[the gent]

Sometimes you really do wonder about the stupidity of English football.

A money laundering fugitive buys a club and appoints as manager a hapless incompetent whose unscrupulous venality is only matched by his patron's. The only factor missing from this equation of moral turpitude is Terry Venables' appointment as club auditor.

Fit and proper? Luckily, it's the English FA responsible for this assessment and since they have long been devoid of anything remotely approaching integrity it looks like poor old Man City is doomed to get its wish.

Leeds all the way..........

[John K]

Money laundering, certainly seems that way.

Fugitive, well not yet he still has time to comply. I have not seen any arrest warrants yet.

Guilt by association.... yes that will come as soon as the first arrest warrant is issued.

Does anyone want to take a guess as what the sports casters will be saying during game time.

“Manchester city owned by the fugitive Thaksin Shinawatra is about to play Liverpool...”

That will go down real easy I am sure.

Thaksin may discover it is more dangerous in the UK. He does have a way of making friends you know.

Edited July 10, 2007 by John K

[Prakanong]

I'm not sure I have any particular concerns, I'm just saying that Man City buyout saga gives bad example in terms of transparency and good governance. Should I be concerned about it?

If Thaksin finally buys a club he can apply for permanent residency there and enjoy lots of rights, particularly protection from prosecution from Thailand. Clever way to get out of legal troubles. Talk about legalised money laundering. People are watching. Not you and me, probably, but those who might need to legalise and protect their money.

Should I be concerned? It's not my reputation, you know.

Even if he became a British citizen it would not be that he had any right to be free of prosecution from Thailand?

es - he could clai it was politically motivated like the Russian Billionaire but just the fact he is PR ow whatever in the UK does not afford him any more rights than I would if Thailand wanted to extradite me.

[Prakanong]

Being a new football fan, I do not yet have a favorite Premier League team and never will if he is considered a fit and proper person. Plenty of other leagues to watch.

Tony - I think you will find the EPL spotless when put side by side with most others.

Yes there is a dirty element sneaking in as it will with all the money flowing around the system due to the success of the EPL after old Rupert decided this was the way to get market share for BSkyB.

Just think - the breaking of the print unions in the 80's allowed Rupert to make massive prfits in the peper industry to fund the losses at Sky initially till market share was built up through the footie franchise.

What was the first rights payment? 70 mill to 370 mill to 700+ mill to 1 billion plus??

This will attract all the sharks and given FIFA and other governing bodies are so corrupt the EPL looks like the clean cut boy

[the gent]

Prakanong,

How on earth could you possibly be that naive?

Quite breathtaking really.

Presumably you are unaware of the agent system and the term ' bung '.