Thaksin Sells His Manchester City Club To Abu Dhabi

[george]

Thaksin sells his Manchester City Club to Abu Dhabi

Fugitive prime minister Thaksin Shinawatra has sold Manchester City to the Abu Dhabi United Group for Development and Investment.

Arabianbusiness online reported that a deal with current owner Thaksin completed on Sunday evening.

The online said Thaksin has helped bankroll a number of big-money transfers in the past but, with his assets currently frozen as he awaits trial in Thailand, doubts have been cast over his long-term future at the club.

The Abu Dhabi United Group will be represented on the club's board by Dr Sulaiman Al Fahim, chief executive of Hydra Properties.

Thaksin will be an honourary president with no administrative power.

"Our goal is very simple - to make Manchester City the biggest clup in the Premier League, and to begin with, to finish in the top four this season."

ADUG will be represented on the new board of Manchester City by Hydra Properties CEO Dr Sulaiman Al Fahim

Al Fahim, who led negotiations, confirmed on Monday the deal had been struck. He said,"We will release details later, but this is a great event for both the club and Abu Dhabi.

"Our goal is very simple - to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season."

.Al Fahim stressed that the Group will solve all the club problems and clear any pending payments, and will comprehensively support the club by bringing in some of the best football players in the world.

It is understood that negotiations began three weeks ago, and were completed on Sunday night at Emirates Palace Hotel in Dubai.

-- The Nation 2008-09-01

[astral]

I just saw the headline on Sky News.

Confirmation here. http://www.arabianbusiness.com/529580-abu-...ster-city?ln=en

So where will he invest the money now???????????????????

[TAWP]

Let me be the first one to say LOL.

"Shit, they will do another Fit and proper-test, better get out while I still can get a good price!"

[LeungKen]

We appear to have several threads with this news George.

Here's one :-

http://www.thaivisa.com/forum/Thaksin-Comp...tml&st=1075

and here's another

http://www.thaivisa.com/forum/Arabs-Buy-Ma...in-t209853.html

Edited September 1, 2008 by LeungKen

[Boater]

and no one had seen this coming????

he has been planning to sell from Day One, i hear through a friend he has made a tasty little profit on this transaction .

[ratcatcher]

Well now, I suppose all the players at Manchester City home games will have to kneel and face Mecca rather than wai Frankie Shinawat.

[whatsoever]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

[Colonel_Mustard]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Things aren't always as they seem though

[Tony Clifton]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Don't forget his mighty 5 year plan.

Everything he touches...

[mrbojangles]

Personally i think it's fantastic news. Thaksin bought us out over a year ago, when nobody else was interested and paid all our debts off. He got us to the highest finish we have had ever, in the premier league and we're in the UEFA cup.

We've got some excellent players but to match the big boys, you gotta pay out big money. Thaksin realises that he wasn't going to un-freeze his money anytime soon and so decided to get out now rather than cling on and potentially take us in a downward spiral.

So thanks for what you did for the club Thaksin and so what if you made a tasty little earner out of it. That's the whole point of being in being in business, isn't it?

Now, gotta go. We're off to rule the football world

[Colonel_Mustard]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Don't forget his mighty 5 year plan.

Everything he touches...

Turns to gold

[davejonesbkk]

Is it me or is this the shortest time period for a premier league club being bought and then sold again? Any football stattos out there that can confirm this?

[mrtoad]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Yes, I'm upset that he has gone back on his word. It's so unlike him.

[marshbags]

Thaksin sells his Manchester City Club to Abu Dhabi

Fugitive prime minister Thaksin Shinawatra has sold Manchester City to the Abu Dhabi United Group for Development and Investment.

Arabianbusiness online reported that a deal with current owner Thaksin completed on Sunday evening.

The online said Thaksin has helped bankroll a number of big-money transfers in the past but, with his assets currently frozen as he awaits trial in Thailand, doubts have been cast over his long-term future at the club.

The Abu Dhabi United Group will be represented on the club's board by Dr Sulaiman Al Fahim, chief executive of Hydra Properties.

Thaksin will be an honourary president with no administrative power.

"Our goal is very simple - to make Manchester City the biggest clup in the Premier League, and to begin with, to finish in the top four this season."

ADUG will be represented on the new board of Manchester City by Hydra Properties CEO Dr Sulaiman Al Fahim

Al Fahim, who led negotiations, confirmed on Monday the deal had been struck. He said,"We will release details later, but this is a great event for both the club and Abu Dhabi.

"Our goal is very simple - to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season."

.Al Fahim stressed that the Group will solve all the club problems and clear any pending payments, and will comprehensively support the club by bringing in some of the best football players in the world.

It is understood that negotiations began three weeks ago, and were completed on Sunday night at Emirates Palace Hotel in Dubai.

-- The Nation 2008-09-01

I took the following from the now closed thread that i posted, i didn,t see the new thread but anyway this allows me continuity :-

It is with pleasure that the above seems to have been confirmed.

I don,t know to much about the new owners other than to say thank you for buying the club and ridding it of this very undesirable EX owner weho has done nothing IMHO apart from take the club and it,s supporters into disrepute.

I would like to think that the Executive chairman will now make some sort of statement to reconcile not only the Man City fans, but football fans the world over who still cannot understand why he would seemingly ignore and be in complete denial of the evil B*S*A*D.

Perhaps it was connected to the ongoing talks sale of his ownership, but if i may humbly suggest the E.C. would have been better served saying nothing rather than seemingly saying / suggesting his reputation was clean.

Anyway perhaps soon this infamous link to your famous club and you can get back to the business of being recognised as a football club, rather than a political tool for you know who.

Congratulations Man City and all who love the club, you are it,s real fans.

May i say you are well rid of the B*S*A*D and shortly we can hopefully seperate the dubious connection that has dragged you all down to his level.

I was trying to edit it for my usual spelling bollo,s and say a few words of encouragement to B.J.

I couldn,t and now understand why.

Well done and now you can get back to posting about the important issues at the club FOOTBALL ( well most of the time anyway )

marshbags

P.S.

No further comment other than wanting to leave things in the future and end on a happy note.

Edited September 1, 2008 by marshbags

[Colonel_Mustard]

He'll still be our honorary club president.

[Kerryd]

Even Exiled former Politicos need cash to maintain their lavish lifestyles while on the lam from criminal charges in their homelands. With much of his (known) assets frozen, and his proxy government on the verge of collapse (or overthrow), he had to do something. Hard to support a family on the run with whatever revenue he recieves from the FC.

My question now is, does he have to pay tax on the sale ?

If so, to who, the UK or Thailand ?

Or has he figured a way to squirrel out of that (again) ?

It's not likely he is in a position to change UK laws to allow him to avoid taxes as he did in Thailand.

What is the UK's position regarding the earnings of foreign fugitives (especially those that haven't been granted political asylum) ?

[Mosha]

Thaksin, pay, and taxes. On the same page

[Tony Clifton]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Yes, I'm upset that he has gone back on his word. It's so unlike him.

Sold shin for a couple billion and denied the sale two days before, insisting he was going to Singapore for shopping with the family.

Repeat scenario in U.K.

Some are turning the Mancherster City sale into some sort of victory when they were fooled to begin with.

This shows his demand for political asylum and image are more important than City fans and all the lies he fooled them with, let's not forget the help of the League.

Edited September 1, 2008 by Tony Clifton

[Tony Clifton]

Even Exiled former Politicos need cash to maintain their lavish lifestyles while on the lam from criminal charges in their homelands. With much of his (known) assets frozen, and his proxy government on the verge of collapse (or overthrow), he had to do something. Hard to support a family on the run with whatever revenue he recieves from the FC.

My question now is, does he have to pay tax on the sale ?

If so, to who, the UK or Thailand ?

Or has he figured a way to squirrel out of that (again) ?

It's not likely he is in a position to change UK laws to allow him to avoid taxes as he did in Thailand.

What is the UK's position regarding the earnings of foreign fugitives (especially those that haven't been granted political asylum) ?

Very intersting questions!

[mrbojangles]

May i say you are well rid of the B*S*A*D and shortly we can hopefully seperate the dubious connection that has dragged you all down to his level.

As Colonel Mustard as mentioned, I believe he is staying on as Honourary Club President.

and say a few words of encouragement to B.J.

Although our stances are wide apart politically, i thank ye for your kind words Marshbags

[lazeeboy]

like him or hate him he seems to know how to make money

[mrtoad]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Yes, I'm upset that he has gone back on his word. It's so unlike him.

Sold shin for a couple billion and denied the sale two days before, insisting he was going to Singapore for shopping with the family.

Repeat scenario in U.K.

Some are turning the Mancherster City sale into some sort of victory when they were fooled to begin with.

Irony Tony, surely you picked up on it?

[sriracha john]

This article is only 5 days old, I hope it's not too late to get this one posted to show his determination and commitment.

Thaksin's 10-Year Plan

Garry Cook, the executive chairman of Manchester City, has insisted that owner Thaksin Shinawatra is in for the long haul and will not be selling the club.

City's boardroom has been in disarray over the last few weeks, with the vast majority of the problems stemming from the precariousness of Thaksin's position.

The former Prime Minister of Thailand has had his assets frozen after fleeing corruption charges in his homeland, thus rendering his £800million fortune useless for the time being.

Recent reports claimed that Thaksin, who took control at Eastlands in July 2007, had offered to relinquish his directorial duties in light of the controversy that has dogged his short reign.

But Cook insisted Thaksin is determined to make his City adventure a success and has a number of long-term plans in mind.

"When these things get thrown at you, you actually try that much harder," Cook said in The Independent. "He [Thaksin] is even more adamant now, because this is his love, and he wants to show people he is really committed.

"I asked the question as well as everyone else: 'Is the club for sale?' and he is quite adamant this club is not for sale and he is here for the long haul.

"I asked 'why did you buy it?'.

He said he bought it because there is a 10-year plan."

- Goal.com / Aug. 26, 2008

[jfchandler]

Hahahahahahaha... I am laughing here... As an American...I care nothing about soccer...(aka European football)...

But the fact that Thaksin has sold M.C. at least suggests to me that the current Thai government/court's efforts at freezing his assets in connection with the various court cases have had some impact... And... that's a heartening thing to hear. Now, hopefully, PPP notwithstanding, the various court cases will follow thru to their conclusions, and the assets be seized or not, depending on the outcomes of the verdicts.

It would be nice to see justice done...for a change.

[sriracha john]

he has been planning to sell from Day One

if that's the case, then perhaps his announcement of a 10 Year Plan a scant 5 days ago was just "an honest mistake" ???

[sriracha john]

Surely this can't be true. Mr Thaksin made a full catigorical and somewhat indignant denial that he was even thinking of selling only a week ago

Don't forget his mighty 5 year plan.

Everything he touches...

He doubled that to 10

[TAWP]

Hahahahahahaha... I am laughing here... As an American...I care nothing about soccer...(aka European football)...

But the fact that Thaksin has sold M.C. at least suggests to me that the current Thai government/court's efforts at freezing his assets in connection with the various court cases have had some impact... And... that's a heartening thing to hear. Now, hopefully, PPP notwithstanding, the various court cases will follow thru to their conclusions, and the assets be seized or not, depending on the outcomes of the verdicts.

It would be nice to see justice done...for a change.

That would be '[world] football, apart from one odd country'.

[mrbojangles]

This article is only 5 days old, I hope it's not too late to get this one posted to show his determination and commitment.

John, let it lie will ya. You'll be having an heart attack if you carry on trying to hound the man.

That article is all about what Crook said, that Thaksin had said etc. etc.

It seems as part of the deal he insisted on being able to stay on as Hourary Club President, so he's staying for a while. With his current financial situation, it is even clear to a non-limbed, blind man, trying to read braille, that selling, is in the best interests of the club Either that, or you end up bankrupt, like Leeds did and falling two divisions.

[DP25]

No surprise. The only reason he bought the team in the first place was as a publicity stunt after he was overthrown in the coup.

[Tony Clifton]

What's next up for sale, the house?

Somehow thinking he just may drop seeking asylum in the UK and head over to live with his new Saudi business partners. Maybe there's a link with Noppadon recently mentioning the Foreign Ministry was looking forward to solving the Saudi jewel case. The sale was probably in the works when Noppadol made the comment.

Edited September 1, 2008 by Tony Clifton