Thaksin Sells His Manchester City Club To Abu Dhabi

[plachon]

Noticed this little tidbit today...

---

Thaksin Shinawatra bought City for £81.6 million.. Sold to Abu Dhabi for £210 million..

That would leave Thaksin with a profit of £281,235 PER DAY for the time he controlled the club.

---

Can say many things about the man, but he's a GREAT businessman!!

Yep, you don't become a billionaire for being a chump. Nong Oak did! He knew it was undervalued and he knew how to pump up the reputation and hype in order to offload it to a wealthier individual. You credit him with far more savvy than the man actually has. He screwed up badly with MCFC as far as the bigger goal of a return to Thailand a hero and Asian dominance went, mainly because of his incredible arrogance and utter greed. Thaksin may be a lot of things but he's no fool when it comes to big business. Disagree - he used to be alright at business in a crony capitalist, kill thy neighbour sort of way, but his biggest mistake was he thought he could take his style of biz to Thai politics and rule the world. He misjudged bady and will pay the price as a sad and bitter exile for the rest of his life. Probably die an early death like Napolean.

[sriracha john]

THAKSIN JETS STARS INTO CITY

MANCHESTER CITY have taken up the offer of outgoing owner Thaksin Shinawatra to use his private jet to fly their four South American stars back in time for Saturday’s match with Chelsea.

City’s new British-record signing Robinho and his fellow Brazilians Elano and Jo will board the flight in Rio de Janeiro today following the World Cup qualifier against Bolivia. And they will pick up Argentinian Pablo Zabaleta in Lima after his country’s qualifier against Peru.

City manager Mark Hughes said: “We could not have got the lads back in time on scheduled flights. I will make a judgment on what I see when they get back but there is a reasonable chance Robinho will be involved.”

- Daily Express (UK) / 2008-09-11

Edited September 12, 2008 by sriracha john

[sriracha john]

"Cause too mut my money is frozen"...

Thaksin - Why I sold City

Manchester City Chairman Thaksin Shinawatra says he is selling the club to help them move forward and compete at the highest level.

Beset with problems off the pitch, the former Thai Prime Minister agreed to sell out to the Abu Dhabi United Group on transfer deadline day. The mega-rich new owners then gave fans a glimpse of the future with Robinho's shock £32.5million British record move to City later the same day.

Shinawatra was at Eastlands to see the Blues lose 3-1 to Chelsea on Saturday and he told Sky Sports that he needed help to push the club on.

He told Sky Sports News: "I need someone that can really move the club forward." *and my specialty is moving things backwards*

"So during my difficulty, it is very difficult for me by myself to push the club forward because the competition is getting fiercer and fiercer and the players are getting more expensive so we need deeper and deeper pockets *and all I feel in the bottom of my pockets are frozen ice cubes*, an owner that really loves football and would like to push the club forward." *because truth be known, I don't love football for anything other than political propaganda I could milk from it and the pseudo-prestige it temporarily brought me*

- SkySports / 2008.09.13

Edited September 14, 2008 by sriracha john

[younghusband]

"Cause too mut my money is frozen"...

Thaksin - Why I sold City

Manchester City Chairman Thaksin Shinawatra says he is selling the club to help them move forward and compete at the highest level.

Beset with problems off the pitch, the former Thai Prime Minister agreed to sell out to the Abu Dhabi United Group on transfer deadline day. The mega-rich new owners then gave fans a glimpse of the future with Robinho's shock £32.5million British record move to City later the same day.

Shinawatra was at Eastlands to see the Blues lose 3-1 to Chelsea on Saturday and he told Sky Sports that he needed help to push the club on.

He told Sky Sports News: "I need someone that can really move the club forward." *and my specialty is moving things backwards*

"So during my difficulty, it is very difficult for me by myself to push the club forward because the competition is getting fiercer and fiercer and the players are getting more expensive so we need deeper and deeper pockets *and all I feel in the bottom of my pockets are frozen ice cubes*, an owner that really loves football and would like to push the club forward." *because truth be known, I don't love football for anything other than political propaganda I could milk from it and the pseudo-prestige it temporarily brought me*

- SkySports / 2008.09.13

I have probably even less interest in football than some American permanently hunched over his laptop, but surely Thaksin is correct in what he says.In the opinion of my football mad friends the sale of Man City to Abu Dhabi was a brilliant coup (if I may use that word.) They say Thaksin was the catalyst for propelling Man City to financial security and better signings.What is more if I understand the numbers correctly Thaksin showed himself to be a superb venture capitalist.

[sriracha john]

For some Brit whiling away his hours in an Internet cafe responding to others, just what exactly are the numbers?

Although indeed he is right in saying Thaksin is correct in that he doesn't have the funds to compete with people who aren't fugitives and have their assets frozen.

[younghusband]

For some Brit whiling away his hours in an Internet cafe responding to others, just what exactly are the numbers?

Although indeed he is right in saying Thaksin is correct in that he doesn't have the funds to compete with people who aren't fugitives and have their assets frozen.

The details of the deal were never released but press speculation is that the buyer paid Pnds 210 million and Thaksin's net profit was about Pnds 15 milllion.

Things I have never done in Thailand.

1.Been inside an internet cafe

2.Been to the Ploenchit Fair (too many unpleasant Birmingham -or similar- accents)

3.Visa run

4.Visited Pattaya (well not for fifteen years)

5.Been inside an "expat" pub

[MiG16]

let me remind everyone that just cos you have differing political opinions does not mean you need to resort to verbal wars with each other.

I think we should be able to maintain intellectual discussions and exchange (as well as debate), without the need for labelling people.

if you cant stop, then I will be forced to give you official warning. Some of you are already on high warning level, another one or 2 warnings would result in automatic ban. so do keep that in mind before you call people names or give anyone labels the next time. (as there may not be a next time for you)

[Plus]

Things I have never done in Thailand.

1.Been inside an internet cafe

2.Been to the Ploenchit Fair (too many unpleasant Birmingham -or similar- accents)

3.Visa run

4.Visited Pattaya (well not for fifteen years)

5.Been inside an "expat" pub

Are you a Mormon or something? I'm not being judgemental or anything, but all of these things happen to you if you simply live your life here - like Pattaya or a pub or Internet cafe, I mean, do you avoid them on purpose? Why? What's the big deal?

Just curious.

>>>>

I'm sure Arabs gave Thaksin something for his efforts, it wasn't a hostile takeover.

[younghusband]

Things I have never done in Thailand.

1.Been inside an internet cafe

2.Been to the Ploenchit Fair (too many unpleasant Birmingham -or similar- accents)

3.Visa run

4.Visited Pattaya (well not for fifteen years)

5.Been inside an "expat" pub

Are you a Mormon or something? I'm not being judgemental or anything, but all of these things happen to you if you simply live your life here - like Pattaya or a pub or Internet cafe, I mean, do you avoid them on purpose? Why? What's the big deal?

Just curious.

>>>>

Believe me I'm no Mormon! Anyway it was only a bit of Sunday morning playfulness.However maybe it's also just a question of getting older.I don't need to go to internet cafes given what PDAs can do.Pattaya depresses me but I freely accept that's more to do with the Brits there than anything else.Ditto English pubs in Bangkok, but there are plenty of other louche drinking holes I enjoy.

[mrbojangles]

but surely Thaksin is correct in what he says.In the opinion of my football mad friends the sale of Man City to Abu Dhabi was a brilliant coup (if I may use that word.) They say Thaksin was the catalyst for propelling Man City to financial security and better signings.What is more if I understand the numbers correctly Thaksin showed himself to be a superb venture capitalist.

I concur YH. Man City have had no money for years. Thaksin has us for a short while, we finish higher than we have for decades, we're in Europe and now we are the richest club in the world. No matter what you think about the guy, he's done good for City and himself to-boot.

[Heng]

That's it? That's not even a billion Baht. LOSER!

I'm sure there are plenty of whingers on TV who'll make that in fewer than a hundred lifetimes.

Because we follow rules and pay taxes maybe?

Didn't have anyone in mind, but if the shoe fits...

[Plus]

I concur YH. Man City have had no money for years. Thaksin has us for a short while, we finish higher than we have for decades, we're in Europe and now we are the richest club in the world. No matter what you think about the guy, he's done good for City and himself to-boot.

Yeah, it sounds too good to be true.

The arab guy sounds a lot more stable than Thaksin, you've got nothing to worry about at the moment, nothing at all. Except those darn Abramovich boys who are still a class above.

[permanent_disorder]

Things I have never done in Thailand.

1.Been inside an internet cafe

2.Been to the Ploenchit Fair (too many unpleasant Birmingham -or similar- accents)

3.Visa run

4.Visited Pattaya (well not for fifteen years)

5.Been inside an "expat" pub

Are you a Mormon or something? I'm not being judgemental or anything, but all of these things happen to you if you simply live your life here - like Pattaya or a pub or Internet cafe, I mean, do you avoid them on purpose? Why? What's the big deal?

Just curious.

it's a odd list of 1.-5., right? but if you look and read carefully, you will see that these words from younghusband are nothing else than a witty reply to another remark of questionable quality. why you edit this out?

you should rethink your question "Are you a Mormon or something?" and maybe find another addressee to ask them

[LaoPo]

I concur YH. Man City have had no money for years. Thaksin has us for a short while, we finish higher than we have for decades, we're in Europe and now we are the richest club in the world. No matter what you think about the guy, he's done good for City and himself to-boot.

Yeah, it sounds too good to be true.

The arab guy sounds a lot more stable than Thaksin, you've got nothing to worry about at the moment, nothing at all. Except those darn Abramovich boys who are still a class above.

Oh, absolutely !

If you're born in a tent on a piece of hot sand and one day someone tells you there's oil down under where you normally <deleted>.....I'll bet you're more stable

Few people remember but it was just some 40 years ago that oil was found in the hot desert in the UAE...look at them now. Speaking about being lucky.

LaoPo

[johnnyk]

Noticed this little tidbit today...

---

Thaksin Shinawatra bought City for £81.6 million.. Sold to Abu Dhabi for £210 million..

That would leave Thaksin with a profit of £281,235 PER DAY for the time he controlled the club.

---

Can say many things about the man, but he's a GREAT businessman!!

1. the deal isn't finalized yet but he will probably make a nice profit.

2. however, he bought at a much higher GBP price than it's now.

3. a lot of money was invested since he bought the club (new players, higher salaries etc.)

One needs to see the real books but I'm afraid, we won't be able to.

LaoPo

I suspect its the old financial spin-dryer ploy.

[MiG16]

Im warning everyone one more time, keep the personal attack out of it

Id hate to close this thread. look at my avatar and you should get a clue why.

so play nice. or dont play at all.

remember this is still about football. remember 'fair play'.

be respectful.

[mrbojangles]

I concur YH. Man City have had no money for years. Thaksin has us for a short while, we finish higher than we have for decades, we're in Europe and now we are the richest club in the world. No matter what you think about the guy, he's done good for City and himself to-boot.

Yeah, it sounds too good to be true.

The arab guy sounds a lot more stable than Thaksin, you've got nothing to worry about at the moment, nothing at all. Except those darn Abramovich boys who are still a class above.

Your'e absolutely right. Chelsea are still a class above but apart from one player who didn't even meet his city team mates until the day before the match, we haven't started spending the Abu Dhabi big money yet.

[mrbojangles]

From the official Man City website:-

Club takeover update

Following the announcement on 1st September 2008, relating to the potential investment in Manchester City Football Club Ltd by Sheikh Mansour bin Zayed al Nahyan and his group, the Club is delighted to confirm that the process of due diligence has now been concluded by all appropriate parties.

As a result of the conclusion of negotiations and all related contracts, the purchase of the football club from UK Sports Investments Ltd (UKSIL) has been finalised and the formal change of ownership of the football club will take place on Tuesday 23rd September 2008 and a further statement will be issued in due course.

Speaking of the sale of the football club, outgoing Club Chairman, Dr Thaksin Shinawatra said,

“I have thoroughly enjoyed my time with Manchester City and watching the team progress in such a short space of time.

“When I bought Manchester City the club had been languishing in the bottom half of the Premier League and had an uncertain future.

“We invested in new talent and management and have been delighted by the success that has brought to the club.

“The supporters of Manchester City have been wonderful to me. They have made my family and I welcome and we have enjoyed meeting them enormously. They are passionate about their football club and deserve success.

“My financial position has changed in the last 15 months and I thus felt it was in the best interests of everyone associated with the club that I hand over the reins to new owners who share similar ambitions and visions to my own for Manchester City.

“I look forward to attending as many matches as I can and watching the new owners build on the platform we have established in the last 15 months.

“Finally may I thank the City Council for their support to the Club and also to the staff of Manchester City for all their hard work and dedication, I wish them all continued success for the future.

“Last but not least, may I thank H. H. Sheikh Mansour for his kind support to Manchester City and to my family during my difficult time which will never be forgotten.”

[Plus]

Thrashing Portsmouth was an icing on the cake.

[mrbojangles]

Thrashing Portsmouth was an icing on the cake.

Yes Plus, it was a happy day at Middle-Eastlands yesterday

[AlKing]

I suppose this is a Win-Win happy ending story for everyone. The ManCity fan, Thaksin, the Sheikh, Thai people, etc (apart from Portsmonth).

Edited September 22, 2008 by AlKing

[sriracha john]

Here's good motivation to sell up quickly...

Shinawatra jumped first

Premier League sources have confirmed that Thaksin Shinawatra was told a conviction in his native Thailand would see him disqualified as a director of Manchester City shortly before he sold up to the Abu Dhabi United Group.

Thaksin's wife, Pojaman, was convicted of tax evasion two months ago and sentenced to three years in prison.

Shinawatra has himself been on trial for corruption since July and a senior source at the league confirmed there had been secret talks with him about the fit-and-proper-persons test.

It is understood he feared his wife's fate might presage his own conviction.

Meanwhile, Paul Tyrrell has quit as City's Director of Communications, receiving a reported £100,000 pay-off.

- Guardian / 2008-10-10

[AlKing]

I believe Thaksin is smart to get out of Man City. This timing was also perfect and make big bucks for himself. If he was to sell today, he probably will only get half of what he paid for. The world economic is in crisis. Even country (Iceland) is at the verge of bankrupt.

[marshbags]

Im warning everyone one more time, keep the personal attack out of it

Id hate to close this thread. look at my avatar and you should get a clue why.

so play nice. or dont play at all.

remember this is still about football. remember 'fair play'.

be respectful.

1) The heading suggests that this is about Thaksin selling Man City and invites all observations relating to it,

If it is indeed meant to be about football comments only, ??? then it should have been posted in the forum dedicated to it.

George wisely posted it in the Thai News section and as such is open to comments relating to subject matter in general terms and should therefore allow non footballing comments of a nature that compliments and considers to the TRUE motives of Thaksin.

These are nothing what so ever to do with football and more about his motives and a non implimentation of a fit and proper requirement based on his reputation and reputation ect. ect. and all the baggage that follows it.

To think that so called respected members of the Man City football section can blatantly dismiss the vile reputation of this evil individual and worse still seemingly gloat about the good he did for all and sundry is beyond belief, especially when you consider some of the evil inhumane acts he is justly credited with.

Guilty by self implication and word of mouth and publicity seeking while he held the office as commander in chief, so let,s not go down the road of innocent till proven guily, everyone knows he is and more importantly those who wish to keep going on about the connection of this thug to the club know it also.

Shame on all who choose to do so in the name of football and conveniently choose to stay in denial.

To remind you in case some have forgotten THE EJK,s and the SOUTHERN EXTERMINATING OF INNOCENT VICTIMS will do for starters.

Each was overseen and encouraged and approved by this unethical, not fit to own a club, previous owner, now billions to the richer "£&*^%£"£*"£*&^$%

Not forgetting of course those at the club he should not have been allowed to own who are openly boasting about the gains that was made by his questionable presence.

Finally, i would like to think this post is not seen as questioning the mod status, far from it, i would just like to remind participating posters of what this thread and his ownership is all about to the majority of our members.

It is not about football and it,s as simple as that.

Footballing observations should be also posted in the relevant thread in my humble opinion........................surely to god.

Obscene and inhumane don,t even begin to describe some of the stuff that,s been posted here.

This is a Thai News Thread and should be open to everyone who has a comment to make.

Thaksin warrants and deserves no less and that,s a fact

Thank you George for allowing and facilitating this important/ open debate.

I,d also like to think this thread will be allowed to stay open and all comments allowed to be posted accordingly as is respectfully acknowledged in all threads regarding relevant comments.

So long as they are respectable of course.

marshbags

Edited October 14, 2008 by marshbags

[sriracha john]

Geez....

I guess marshbags is back to posting.... :D

a great post... welcome back...

on the matter of Thakky and Man C...

I see news today that he and his daughter Pinthongta, and his son Panthongtae, and his sister Yingluck have now all quit being on the Board of Directors. I'm sure the fans will all hate to see this brood of misfits leave.

But I do note that he will continue to hold his 10-percenter financial interest, so he still remains tied to the city and club in that regard.

here's a link on it:

http://www.independent.co.uk/sport/footbal...ard-960289.html

Edited October 14, 2008 by sriracha john

[plachon]

Geez....

I guess marshbags is back to posting....

a great post... welcome back...

on the matter of Thakky and Man C...

I see news today that he and his daughter Pinthongta, and his son Panthongtae, and his sister Yingluck have now all quit being on the Board of Directors. I'm sure the fans will all hate to see this brood of misfits leave.

But I do note that he will continue to hold his 10-percenter financial interest, so he still remains tied to the city and club in that regard.

here's a link on it:

http://www.independent.co.uk/sport/footbal...ard-960289.html

Yes, well said Marshbags and welcome back.

And what a terrible day for MCFC to lose such a talented bunch of true-blue football fans off their Board. I should expect there to be much wailing and gnashing of teeth amongst the fans for having to say, "adios" "sawasdee khrap" to the Sinatra clan they took to their hearts so warmly at the free Mai concert and khaopat feast they laid on just over a year ago. Which some posters were convinced was given with typical nam jai of Thaksin for the unwashed masses. Don't see them jumping up and defending the family quite so vociferously these days, which may be progress along this Toxic learning curve.

[marshbags]

Thanks for your kind observations S.J. and Plachon

I landed at Manchester airport on the 3rd of last month (Sept. ) and got the usual free copy of the Manchester Evening Post just to see if there was any reference to the Thaksin / Man. City scenario.

I was pleasantly surprised by what i found as one of the reporters was running an article that day in relation to it all.

He was giving Thaksin a right going over, similar in tone to what many of the more principled members of our forum have been voicing since day one on this vulgar action re. his being allowed to become owner of the club.

By all accounts, the reporter is not alone and many supporters, along with local residents are very upset and offended, to say the least on what took place and then the selling on of the club to the present owners at such a profit.

I assumed from what has been posted over the last year that it was considered, ( practically ) a totally approved purchase.

Well it was not from what was written and if any of our members live in the U.K. they would be well aware of this situation.

I cannot understand why it was allowed to be the case that it met with the approval of the majority of the supporters along with all the controversial baggage that went with it.

As individuals we all have a right to express our opinions and thoughts, but for me, i feel those in opposition have been given a great disservice by what has or has not been said.

The board who allowed the sale did not come off favourably either and got a right slagging off also.

The CV of one particular board member was an eye opener, Jack the lad doesn,t come near to describing his activities.

Perhaps it was a case of being economical with the reality or not being in touch with these sort of supporters ect.

Then again perhaps the reporter was intent on committing his paper to mega court appearances and litigation for slanderous reporting. Thai Puyai style

There reaction on learning that Thaksin managed to make a mega profit out of the selling of his controversial ownership, along with possible back handers to the retiring board members for their negotiated approval are yet to surface.

Those people who like to put Dr in front of this vile individuals surname with a possible intention of giving him some sort of obscene creditability are beyond belief IMHO

Little do they know that it is abbreviated / short for Dictatorial ruler, which in his case is very pertinent, it is also the only title he has ever earned in his life, without having to pay a satang.......... and indeed making mega Baht to do so, Amazing in it

marshbags

P.S.

IMHO i reckon there is still some mileage left in this thread, especially when the glamour of having genuine multi millionares now in place and spending accordingly.

I hope it stays open and within the T. News Thread to allow free and honest debate on it all.

Come the inquest on this tasteless, unfit to own transaction, i reckon it will build up to a mega one, again.

Edited October 15, 2008 by marshbags

[AlKing]

Making deals to earm miilions is what Thaksin do for breakfast. He did it all the time hence he is a billionaire. He saw an under-valued FC, buy it up, and later sells for a large profit. I do not see anything commercially wrong with that. We do it all the time, in a smaller scale, in the stock market.

However I disagree with this moral, and his constant advocate on how much he love football is not right. But the bottom line is, this is not a crime.

[sriracha john]

Making deals to earm miilions is what Thaksin do for breakfast. He did it all the time hence he is a billionaire. He saw an under-valued FC, buy it up, and later sells for a large profit. I do not see anything commercially wrong with that.

Using and abusing people is what Thaksin does for breakfast. He did it all the time, hence he's an asshol_e. He saw an opportunity to exploit Thai players for publicity and political leverage and he did so. I see plenty wrong with that...

A foursome of fired personnel....

City terminate trio's contracts

The future of the three Thai players at Manchester City is now clear - the English Premiership club have terminated their contracts. Jimmy Haewsanti, marketing manager of Manchester City (Thailand), confirmed yesterday that City had terminated their contracts with Thailand internationals Suree Sukha, Teerasil Dangda, and Kiatprawut Saiwaew. "It is officially confirmed that the trio's contracts have been terminated," Jimmy said. "We tried our best but failed to get work permits for them." He said City had tried to find a new club for them in the Middle East, but no teams were interested in them. The three signed three-year contracts with then City coach Sven-Goran Eriksson in Bangkok in November last year when former prime minister Thaksin Shinawatra was the club's owner. Critics believed the move was politically motivated as it was just weeks before the December general election. The trio each reportedly earned around 300,000 baht a month from the English club. However, the Thai press earlier reported that the "contracts" were actually "agreements" so the club do not have to pay them compensation.

Continued here:

http://www.bangkokpost.com/161008_Sports/1...008_sport28.php

[plachon]

300,000 baht a month?!!!!!!

For doing what exactly?? As I understood it, they weren't paid at all during their first few months in UK, and had to beg, borrow, steal to even feed themselves.

When it was obvious they couldn't make MCFC B Team, they were carted off to Zurich Grasshoppers, where presumably the work permit issue didn't apply and they could get the odd game of footie, but not sure if it was with the A team or not?

I don't want to put these guys down (as they were just pawns for Toxin) and realise they had the shit end of the stick, but this does seem a bit OTT for their worth as footballers, even in the grossly overpaid world of soccer. Perhaps it was just another Toxin-scam and they were on double (or even triple?) contracts, one to MCFC (one to ZH) and a third to Toxin and his shady minions, who were the real beneficaries of that 300 k/month, with the players seeing only a small fraction of the dosh. I mean, Toxin is not famous for giving money away is he (unless there is a guaranteed return for himself of course)?