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Thaksin Sells His Manchester City Club To Abu Dhabi

george

By george
in Thailand News

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Briggsy Diamond Member

Briggsy

Posted
Posted

According to the BBC, there has only been the signing of a memorandum of understanding and the sale has not yet gone through. These memorandums of understanding have become all the vogue in the last few years over here. They sound great to the media but actually commit the parties legally to nothing.

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LaoPo Star Member

LaoPo

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Posted
All major shareholders of companies, worldwide, are bound to strict rules by the boards of the various Stock Exchanges. The SET in BKK would probably have no different rules.

It means that if Tony Clifton (example :D ) is a major shareholder of a Stock listed company, he is by law forbidden to inform the media about important changes which could influence the listed stock.

I can understand the non-disclosure requirement, but is a stock market rule that states an owner of a company must lie to cover-up a sale? :o

There is a less-than-subtle difference.

Unfortunately SR & Tony...it happens EVERY SINGLE DAY, worldwide, that CEO's and/or owners indeed lie because they're forced to because of the very strict rules. It's also understandable, because IF they would say a company is up for sale (for instance) BEFORE it's finalized, or that they're buying another company, the shares would either skyrocket or dive deep.

One day they say yes, the next day they deny and the day after a press release comes out or shareholders meeting is called.

It's quite "normal" to deny or lie in the corporate world.

Aren't governments the same ? :D

LaoPo

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sriracha john Star Member

sriracha john

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Posted
All major shareholders of companies, worldwide, are bound to strict rules by the boards of the various Stock Exchanges. The SET in BKK would probably have no different rules.

It means that if Tony Clifton (example :D ) is a major shareholder of a Stock listed company, he is by law forbidden to inform the media about important changes which could influence the listed stock.

I can understand the non-disclosure requirement, but is a stock market rule that states an owner of a company must lie to cover-up a sale? :o

There is a less-than-subtle difference.

Unfortunately SR & Tony...it happens EVERY SINGLE DAY, worldwide, that CEO's and/or owners indeed lie because they're forced to because of the very strict rules. It's also understandable, because IF they would say a company is up for sale (for instance) BEFORE it's finalized, or that they're buying another company, the shares would either skyrocket or dive deep.

One day they say yes, the next day they deny and the day after a press release comes out or shareholders meeting is called.

It's quite "normal" to deny or lie in the corporate world.

Aren't governments the same ? :D

LaoPo

How about if he says nothing at all.... aka non-disclosure?

But to come out and blatantly lie.... that's different.

It is, however, the norm for the him as a lying, cheating, murderer. It helps explain his success in the corporate world as he excels at that talent.

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marshbags Platinum Member

marshbags

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Posted (edited)
On a more serious note, city fans now think they are going to challenge Utd and Chelsea :D

We've just signed Robinho from Real Madrid. I'd say that shows what intent these guys have. :D

£32.5 million investment, speaks volumes on what sort of future Thaksin has at the club.........hopefully for the integrity of the club and it,s board members,

Zero.

If not then any intergrity that they start to build up vis the new owners who, listening to the spokeman / owner, is a distant mile from that of the infamous, undesirable, past owner, will be lost.

Also there is a matter of the fit and proper non test that has as yet to be sorted out regarding why he passed it based on his infamous history and background.

It wil not go away until it has been addressed, selling or otherwise, it will keep coming back with a vengeance until it has been put to bed in a transparent way that satisfies all ninety odd clubs that are bound by laws, within football.

Man City should be remembered for it,s old traditions and history instead of for having dubious connections with this scum.

The complete severing of ties is the only effective way of clearing the decks, otherwise it,s more of the same instead of a new beginning :o

marshbags :D

Edited by marshbags
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Tony Clifton Platinum Member

Tony Clifton

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Posted (edited)
Funny how some posters think Thaksin manages his money the same way they do. *Gotta sell the football club to keep up on my mortgage payments.*

:o

On the other hand, none of us are suspected of MASSIVE money laundering.

I withdraw regularly from all my accounts without fear of Interpol tapping on my shoulder. :D

Edited by Tony Clifton
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ace Silver Member

ace

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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???????????????????

My question is, will he be granted asylum in the UK?

Question is: DOES HE STILL NEED ASYLUM IN THE UK? :o

That's a great point. Laundry's all done now, will he move on? Actually I doubt it. London is the place for dodgy billionaires.

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Heng Star Member

Heng

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Funny how some posters think Thaksin manages his money the same way they do. *Gotta sell the football club to keep up on my mortgage payments.*

:o

On the other hand, none of us are suspected of MASSIVE money laundering.

I withdraw regularly from all my accounts without fear of Interpol tapping on my shoulder. :D

I think most of the bad guys have long concluded that if Interpol are some of the best of what the good guys have to offer, there's not much to worry about.

The point is, Thaksin's financial management policies are likely more intricate with more redudancies built in than say... a typical "expat internet entrepreneur" in the LOS selling shirts and wallets on eBay, hoping that their Paypal account won't get frozen.

:D

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TAWP Star Member

TAWP

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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'.

Last time I checked, the American style of football was being played in a fair number of other countries around the world, and U.S. pro teams have been playing well-received exhibition games in various places. Just give it a bit more time...and the virus will spread... The only ODD thing is why anyone would prefer soccer over American football in the first place... :o

American football is called American football outside the US, while 'soccer' is called football in the rest of the world outside the US.

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

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Samuian Platinum Member

Samuian

Posted
Posted

O.K. what about the taxes now - capital gains tax - would he be eligible for tax exemption as a foreign investor or as a unfairly treated ousted, impoverished prime minister of a third world country?

I think he bought for 80 mill and sold at 150 mill. read it somewhere...(sorry)

:o:D :D

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konangrit Gold Member

konangrit

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He paid £81.6m, and reportedly will sell it for £200m. He invested at least £30m in players, and probably cleared debts etc, but he should have still made a tidy profit from this deal.

From reading football forums, most Man City fans are really happy today, the new owners are even richer than Abramovich, and seem more than willing to match his spending.

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konangrit Gold Member

konangrit

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From reading football forums, most Man City fans are really happy today

You bet your tiny cotton socks we're happy :o

the new owners are even richer than Abramovich, and seem more than willing to match his spending.

I've read that they are about 10 times richer.

Meanwhile I'll be dreaming that someone 10 times poorer than Abramovich buys my club whilst listening to the first round of the Johnson Paint Trophy later tonight ... :D

Edited by konangrit
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LaoPo Star Member

LaoPo

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Posted
The fans are happy?

They probably will be:

Arab billionaire Dr Sulaiman al-Fahim pledges £540million for Manchester City players

By Paul Byrne 2/09/2008

The man behind yesterday's sensational takeover of Manchester City has given manager Mark Hughes just three years to win the Champions League.

But billionaire Dr Sulaiman al-Fahim - frontman for a mega-rich Middle East business group - will hand over an astonishing £540million to bring the world's top stars to the under-achieving Premier League club to help achieve the quest.

Sulaiman said in an exclusive interview that he wants to buy 18 new players - at a cost of £30million each.

He added: "I need to meet the manager but the best players in the world average £30million. We need a minimum of 18 players at that level.

"Without that you can't win the Champions League."

Hughes (right) admitted he was "stunned and excited" by news of English football's latest big takeover.

And within hours of agreeing the deal the club was trying to hijack Dimitar Berbatov's £30million move from Spurs to deadly rivals Manchester United.

Sulaiman went on: "Our goal is very simple - to make Manchester City the biggest club in the Premier League.

"We have to spend to get the world's best players . The club has everything it needs except really good players. It has good players but not excellent players who can really compete at the top.

"To compete with Chelsea, Manchester United and Arsenal, you need good support from the board to finance players and support the manager. For this season our aim is to change the club's image and be in the top four. We want to win the Champions League in the near future.

"We have to give that trophy to the fans. I'm hungry for success. I am very excited. It is my dream for our group to own a club like City."

post-13995-1220363912_thumb.jpg

Sulaiman, a 31-year-old married father of three and property tycoon, plans to watch his first game at the City of Manchester Stadium when big-spending Chelsea visit on September 13. He added: "I hope the team play well on that day."

The takeover was greeted with delight by City fans. Kevin Parker, of the official supporters' club, said: "Teams are looking for investors with deep pockets and it appears they have deep pockets.

"In the past 30 years we haven't had any success and we're desperate to win a trophy."

Sulaiman heads the Abu Dhabi United Group for Development and Investment, which has agreed to buy City for £150million from controversial chairman Thaksin Shinawatra. Backed by the Abu Dhabi royal family, the consortium is thought to be worth £120billion.

Sulaiman said: "The UK has the best league in the world and the idea is that Abu Dhabi would like to position itself as a sports and cultural hub."

Ex-Thai prime minister Shinawatra, 59, sold the club just 14 months after taking charge.

He bought City for £80million, but plans to pump in millions more were foiled when almost £1billion of assets were frozen in Thailand. Together with his wife Potjaman, 51, who is on bail after being sentenced to jail for tax fraud, he is in exile in London.

The freezing of his assets has caused City cash huge flow problems in recent weeks.

Now Shinawatra is poised to step down as chairman and take a role as honorary president.

Money will not be a problem for the new owners, based in the United Arab Emirates, which is the world's fifth-largest oil exporter.

Flamboyant Sulaiman will sit on City's board under the deal, which was agreed on Sunday.

The chief of Hydra Properties enjoys the company of film stars such as Demi Moore and Leonardo DiCaprio and has been described as the Arab world's answer to Donald Trump. He also hosts a reality TV show.

---Mirror Sport

LaoPo

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jfchandler Ruby Member

jfchandler

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Hoping everyone remembers here.... it's your price-jacked petro dollars that are going to fund both the purchase and reported financial windfall/investment for the team. Glad the Abu Dhabi folks are finding something useful to do with the money that they and the rest of OPEC are draining every day from the world's coffers.

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LaoPo Star Member

LaoPo

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The man behind yesterday's sensational takeover of Manchester City has given manager Mark Hughes just three years to win the Champions League.

:o

One nutter replaced by another....

:D What's becoming of you SJ....? :D

The goal he gave to Mark Hughes might be indeed very ambitious but I suggest you do a bit of research on Dr Sulaiman al-Fahim and I don't think the man is a nutter, far from that, and I'm not even a fan of any Arab but one has to remain fair and you're not behaving fair.

Sorry to say so.

I'm happy for the Manchester United fans and that's what counts.

LaoPo

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mrbojangles Star Member

mrbojangles

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Posted
The man behind yesterday's sensational takeover of Manchester City has given manager Mark Hughes just three years to win the Champions League.

:o

One nutter replaced by another....

:D What's becoming of you SJ....? :D

The goal he gave to Mark Hughes might be indeed very ambitious but I suggest you do a bit of research on Dr Sulaiman al-Fahim and I don't think the man is a nutter, far from that, and I'm not even a fan of any Arab but one has to remain fair and you're not behaving fair.

Sorry to say so.

I'm happy for the Manchester United fans and that's what counts.

LaoPo

Although i concur with the rest of your post LaoPo. Why are you happy for the Man United fans?

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