Stories tagged with manchester
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Rumours Swirl Over Sale of Manchester City Football Club
After just one season as owner of Manchester City football team, Thai ex-prime minister Thaksin Shinawatra is rumoured to be looking to offload the club. His reasons for selling likely stem from the fact that the Thai government has frozen 800 million pounds of his assets.
The UK Daily Mail reported that Thaksin has contacted a well-connected financial intermediary in the past month about finding a buyer for the club. It appears that two unnamed parties have been contacted in the matter, but the UK Daily Mail admitted that Thaksin may just be testing the waters for a future sale.
Thaksin bought Manchester City FC for 80 million pounds a year ago, but since then the Thai courts have frozen assets of his worth some 800 million pounds pending the verdict in his trial for corruption during his time as prime minister. Thaksin may be willing to dump the football club to free up some cash.
Manchester City FC denied the rumours, stating “it is not true that Dr Thaksin Shinawatra is trying to sell Manchester City, nor that he is looking for a buyer.”
Posted by: Andrew on 12 Aug 2008, 12:49