Thaksin Looking To Buy Manchester City For 6 Billion Baht

[sriracha john]

Fishing in the spotlight

In a wooden boat, a man with a square face is fishing using a worm covered with a Manchester City football club emblem as bait. Surrounding the worm, which is wearing a football boot, is a school of salivating fish wearing press tags and equipped with tape recorders, pens and a cameras.

“C’mon! Talk about me! Talk about me! Me! Me! Me!!!” the fisherman, who resembles former Thai Prime Minister Thaksin Shinawatra, yells at the fish, which are individually marked Thai Rath, Matichon, Daily News, The Nation and Bangkok Post – the names of Thailand's leading newspapers.

That’s The Nation’s editorial cartoonist Stephff’s take on the report of Thaksin’s £100mil (RM680mil) bid for English football club Manchester City.

Whether Stephff, a French cartoonist whose real name is Stephane Peray, is correct in his interpretation of the billionaire businessman’s motive, he is as spot on as a Liverpool football club penalty taker that the bid has hooked the Thai media.

On Wednesday, The Nation’s front-page headline screamed: “Thaksin ‘in box seat’ for football club.” It reported that the former Prime Minister, who was deposed last September in a coup, had emerged as the frontrunner in the takeover bid after being given Manchester City’s accounts on Monday.

That Wednesday night, at the Foreign Correspondents’ Club of Thailand clubhouse in Bangkok, among the topics of discussion was Thaksin’s foray into sports.

“Do you think that Thaksin’s bid for Manchester City is similar to his bid for Liverpool?” I asked a historian who had told me that Thaksin’s failed effort three years ago to buy Liverpool for £65mil (RM442mil) was to divert attention from his political woes.

The historian nodded, indicating that the Maine Road bid was a publicity stunt to put Thaksin back in the Thai centre spot. And he whispered: “I don’t know whether he has the money for it.”

“Why not?” I asked, as financial magazine Forbes has estimated Thaksin's worth at US$2.2bil (RM7.5bil).

“I believe most of his money is at home (in Thailand),” he responded, referring to the request by Thaksin's wife to the Thai government to take 400 million baht (RM41mil) abroad to finance the purchase of a property in England.

The other sport the billionaire is using as bait to get the media’s attention is golf. On Monday, Thaksin, who is living in exile in London, was elected president of the Professional Golf Association of Thailand (PGAT).

“Golf is the sport of executives who are now not happy with the way this government is running the country; while most Thais are crazy about English soccer,” advertising expert and political campaigner Seri Wongmonta said.

“By running both sports, he will have both local and international media exposure,” he said. “Thaksin is doing everything he can to take up media space to ensure the spotlight stays on him.”

Popular Campaign for Democracy secretary-general Suriyasai Katasila notes that “politicians and golf courses can’t be divided”.

“When Thaksin was PM, he made decisions about many projects on the golf course,” he said. “Golf or football, it's all linked to a network of politically influential groups.”

Noppadon Pattama, Thaksin’s legal adviser, insists the billionaire has hung up his “politics boots” and is now concentrating on sports and social matters.

Tonight, as Thais watch the Manchester City versus Manchester United English Premiership derby live on television, they can ponder what game Thaksin is playing.

- The Star (Malaysia)

[kmart]

Oh well, Manchester certainly needs someone tough on drugs...

[sriracha john]

Buying Man City is good _ at least for Thaksin

Buying Man City is not a bad idea. Although they have been overshadowed by their bitter-rivals Man U for most parts of their history, they are one of the biggest clubs in the Premier League. Their City of Manchester stadium is one of the newest and best stadiums in Britain. The state-of-the-art 48,000-seat stadium is on a 250-year lease from Manchester City Council. Whatever Thaksin's motivation to buy City is, he is gaining free publicity from the takeover bid at a time when he and his family could face punishment and lose huge fortunes. If he is successful, we might see him on TV week in week out watching his team in action. He would appear on TV without having to pay airtime fees. His last name Shinawatra is too difficult for foreigners to pronounce or write, some City fans have called him ''Mr Sinatra'' after the late legendary singer Frank Sinatra. Fittingly, one of Thaksin's favourite song is My Way, one of Sinatra's greatest hits. One City fan suggests that as Thaksin is living in England he should adopt an English name, say, Frank Shinawatra. Thaksin's associates can now legitimately call him nayok (which can mean prime minister or president of any association) as he is now president of the Thai Professional Golf Association. He could become president of the Northeastern Sugarcane Growers Association when its members elect their new boss later this year. If the CNS is afraid of the move, then they should assign their man to take the presidency of the Thai Golf Association which is the ruling body of Thai golf and appears more powerful than the Thai PGA.

Continued here:

http://www.bangkokpost.com/Sports/09May2007_sport26.php

[sriracha john]

Thai takeover leaves Pearce facing the bullet at Man City

FORMER Thailand prime minister Thaksin Shinawatra is on the brink of a £100million bid for Manchester City after studying the club's accounts - leaving boss Stuart Pearce facing the sack this summer.

Senior City officials are expecting a positive response from the billionaire Thai businessman this week when the due diligence process ends.

And that could lead to a summer takeover by Shinawatra who is desperate to become a Premiership club owner after failing with a bid to buy Liverpool two years ago.

But, while a potential deal would be good for success-starved City fans, a Thai takeover would leave struggling boss Pearce heading for the door with Shinawatra certain to ditch the Eastlands boss.

Pearce is already facing a tricky summer juggling his City duties with his role as England Under-21 boss in the European Championships in Holland with club officials still unhappy with the situation after a poor season.

Yet that scenario has raised concerns at the FA and Eastlands as City look to recruit in the summer.

- The People (UK)

[sriracha john]

Thaksin poised to buy Man City

The People newspaper reports that ousted prime minister Thaksin Shinwatra is "on the verge" of taking over Manchester City Football club for 100 million pounds (B6.8 billion). The Sunday Mirror said that Mr Thaksin was expected to pay 130 million pounds for the club "inside the next 10 days." If he does take over Man City, the ex-premier could be targetting manager Gerard Houllier. The Sunday Mirror said Mr Thaksin's plans include an approach to Lyon coach Houllier to replace Stuart Pearce.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=118732

[papaya9]

Thaksin's quite an insecure guy... Some of us are very deeply rooted in the superficial/material aspects of life.

[madog]

he has been lined up as stuart pearce`s replacement aswell

[sriracha john]

Thaksin on brink of 7 Billion Baht Man City takeover

Guardian Unlimited online reported that sacking of Stuart Pearce from Manchester City's manager will usher in a multi-million-pound revolution that will see the deposed Thaksin seized control of the club and a replacement manager appointed from abroad.

While Pearce was packing his belongings yesterday, Thaksin was secretly visiting the stadium for the first time and has made it clear he does not want to appoint another British manager.

Thaksin's takeover bid has progressed more quickly than had been anticipated and there could be an official announcement about the next stage of the process within 48 hours.

G้rard Houllier, the former Liverpool manager now in charge of Lyon, will be among those considered to replace Pearce, along with the PSV manager, Ronald Koeman, and the former Chelsea manager Claudio Ranieri. Sven-Goran Eriksson, however, has already been discounted.

Guardian reported it is clear that Thaksin, who was on Monday given a VIP tour of the City of Manchester Stadium, and his international team of advisers were consulted about Pearce's sacking in advance.

City's chief executive, Alistair Mackintosh, and the chairman, John Wardle, had decided several weeks ago that Pearce would have to go. Thaksin, who will retain Mackintosh in his present position, took advice from his English representatives and agreed.

Pearce was informed in a lunchtime meeting with Mackintosh and Wardle on Monday but he had been aware the news was coming for several days. His intention is to get another job as quickly as possible, ideally in the south to be nearer his family home, but his reputation has been tarnished after an arduous season in which City finished only four points above the relegation zone.

Thaksin, currently in a period of due diligence, has a personal fortune estimated at around 2 billion pounds and will make significant funds available for new players, possibly as much as 50 million pounds. If everything goes according to plan, his financial muscle could also be critical in terms of hiring a manager who would normally be seen as out of the club's scope, in terms of both money and ambition.

However, the Thai's approach does not come without baggage. Human rights campaigners accused Thaksin's administration of various offences, especially in relation to a hardline anti-drugs campaign. The pressure group Human Rights Watch claims this led to more than 2,500 extra-judicial killings in Thailand in 2003.

The following year Thaksin launched a bid to buy Liverpool but the deal collapsed amid suspicions about his motives and funding. Eight months ago he was overthrown by a military junta and warned against returning to Thailand. He owns several properties, including one near London.

If the deal is closed it will put City on a financial level that has seemed unimaginable during the Pearce era. The former England captain has had to work to a tight budget since replacing Kevin Keegan in March 2005 and his lack of success in the transfer market - most notably, the 6 million pounds Georgios Samaras - was key to his departure. Pearce, quite simply, was not trusted to spend Thaksin's money.

The club needs strengthening in defence, midfield and particularly attack, having not scored at home since January 1. They are resigned to losing Sylvain Distin on a free transfer this summer. Joey Barton will be another one to leave, though City have postponed a disciplinary hearing into Barton's training-ground attack on Ousmane Dabo that was due to be held today. The club intend to announce several more departures today.

- The Nation

[helicoptor]

Pearce Sacked - Official

Manchester City can confirm that the Club has terminated the contract of Manager Stuart Pearce with immediate effect.

Chief Executive Alistair Mackintosh said: “The Board of Directors would like to thank Stuart for his hard work and service during his six years here at Manchester City and wish him well for the future.”

[gummy]

It may well be an unusual business undertaking for Thaksin. After all his business's have been built on utilising "friends in high places" initially, then modifying the laws to benefit his holdings not forgetting of course the "other business incentives" offered to his "business colleagues". Plus of course his overwhelming desire to make money which is paramount in any of his transactions.

It is hard to imagine how Thaksin envisages making money out of Man City by increasing it's worth when he will be dealing with very strict rules on how he can and can not operate a football club - or are they? However, given the pride of many shareholders in their club what does the real Man City supporters think about selling out to Thaksin ?

[sriracha john]

Manchester City to wait on Thaksin before appointing new boss

Manchester City are unlikely to appoint a successor to Stuart Pearce as manager until it is clear whether or not Thaksin Shinawatra's proposed takeover of the Premiership club is to proceed.

Pearce was sacked on Monday, 24 hours after a dismal 2006-07 campaign ended in defeat by Tottenham and with the club just four points above the relegation zone.

Paul Jewell, who left Wigan on Monday, was immediately linked with the vacancy, but it appears unlikely that he will make an immediate return to football having announced that he needs a break from the stress of managing a Premiership club.

There was also speculation that City could make an 11th-hour bid to secure the services of former Bolton manager Sam Allardyce, who was expected to be unveiled as Newcastle's new manager on Tuesday.

But neither the Jewell or Allardyce options were thought to be acceptable to Thaksin, the former Thai Prime Minister whose financial advisors are currently examining the City books with a view to a takeover.

Thaksin reportedly favours the appointment of someone with a European profile with the likes PSV Eindhoven manager Ronald Koeman, Lyon boss Gerrard Houllier and former Chelsea manager Claudio Ranieri among the names touted as possible managers if the City of Manchester stadium comes under Thai control.

Pearce was given his marching orders after two years in charge as a result of a dismal run in which City had failed to score at home since January 1. After winning a reprieve from the sack in March, his fate was sealed when City lost three of their last four matches.

- AFP

[Humphrey Bear]

Have any of you got personal opinions on this possible takeover, or is it just that you like posting press cuttings from all the know-nothings that have been busy earning (?) their crust out of a rumour?

As a West Ham supporter, I must express my grave misgivings that. if Toxin is allowed to influence the Premiership by buying Man City, there is a possibility of corruption and double dealing creeping in to the game.

And has anyone explained to him that Manchester has TWO separate football teams?

[phuketsiam]

And has anyone explained to him that Manchester has TWO separate football teams?

Good point, he probably thinks he's buying Manu

[chanchao]

As a life-long City supporter I'd greatly welcome having Dr. Thaksin owning the club. Thaksin has an excellent track record for appointing capable people at the right places; CEO style management. If indeed someone like Gerrard Houllier would become manager and he gets some spending money then bright times are ahead for us.

As for murky dealings... Seems to me he'd feel right at home in such an environment.. He'll take to it like a duck to water. After all, football is not the most transparent of industries to be in.

[Plus]

THAKSIN BUYING MANCHESTER CITY?

Where will the money come from?

Is Thaksin Shinawatra for real this time as it emerges that he is on a brink of taking over Manchester City Football Club?

The price tag for Manchester City is about 100 million pounds sterling, or Bt7 billion. You may want to know from where he will dig his hand in to get the money.

Yes, he has the money. But from where will he get it because his assets are believed to be hidden everywhere?

A few months ago, Thaksin and his wife Pojaman Shinawatra had a difficult time moving Bt400 million out of Thailand. They would like to buy a luxury home in London. The Bank of Thailand froze Khunying Pojaman's request to transfer Bt400 million out of the country for a month. Afterward, it flashed the green light for her to do so.

Central bank regulation requires you to seek its approval first before you may transfer more than US$10 million out of the country to buy properties. If the amount is below US$10 million, any commercial bank can simply process the transfer according to your wish.

But if you want to invest in a business worth more than US$50 million, you also need central bank's approval. If the amount is less, a commercial bank can go ahead to process the deal on your behalf.

Now Thaksin will need to withdraw 100 million pounds from his wealth to purchase Manchester City. Will he ask the central bank's permission for him to move Bt7 billion out to complete this business deal? Will the central bank allow him to do so?

Nobody knows Thaksin's and Pojaman's real net worth. More than a year ago, it was rumoured that they had about US$3 billion (about Bt140 billion). After selling 49 per cent of Shin Corp to Temasek Holdings of Singapore last year, the two collected Bt73.3 billion in cash.

This huge amount of money is still parked in the Thai banks inside the country. The central bank has been keeping a watchful eye on Thaksin's and Pojaman's money.

Thaksin has been very conscious of risk management. He sold out Shin Corp in order to get hold on the cash. If his political fortune were to turn wrong, he would hold on the cash rather than the stocks or the other immovable assets.

Another question that has not got adequate attention is whether Thaksin has also been keeping his wealth in the overseas bank accounts? In his asset declaration, he never said he had overseas assets. He only admitted about it after the Shin Corp transaction.

When the Shin Corp deal took place in January 2006, it became public knowledge that he had also had assets in Ample Rich Investments, incorporated in the British Virgins Island.

But it was an open secret in the financial markets about Thaksin's relationship with Ample Rich Investments. Ample Rich held about 10 per cent of Shin Corp stocks worth about Bt16 billion. But then Thaksin claimed that he transferred his interests in Ample Rich to his son Panthongtae well before he entered politics in 2001. So went his perfect script.

After the 1997 baht float, several rich Thais money in the offshore accounts. Korn Chatikavanij of the Democrat Party has called for an investigation into whether Thaksin had kept his assets in the offshore accounts without proper declaration.

For it emerges that there were Win Mark and other secret funds subscribing to the stocks of SC Assets, a property arm of the Shinawatra family, as if they had acted on behalf of the major shareholders.

So how much Thaksin and Pojaman are keeping their wealth in Thailand? Our guess is that it would be probably more than Bt100 billion, with Bt73 billion at least in cash. Any amount beyond this must be kept in overseas bank accounts or other forms of assets.

So Thaksin can use his money in Thailand or in theory his money in offshore accounts to pay Bt7 billion for Manchester City. Now if his request to transfer Bt7 billion out of Thailand reaches Tarisa Watanagase, the Bank of Thailand governor, we'll be curious to know how she would respond.

MR Pridiyathorn Devakula, Tarisa's predecessor, grumbled when he heard that Thaksin would like to raise domestic funds about three years ago to acquire a 30 per cent stake in the Liverpool Football Club for around 70 million pounds. Pridiyathorn would not allow this transaction to take place. Football club is a highrisk high return business.

If the investment in Liverpool melted down, who would assume the responsibility for this deal, which would also involve public money?

But the Manchester City deal, which is impending, involves only Thaksin's money. Still, it is interesting to know how Tarisa would approach this deal.

Thaksin and Khunying Pojaman can't have good night sleeps insofar as the local authorities are going after them for the irregular deals they left behind - from the Ratchada land deal, the questionable stock transfer, the CTX deal, the Ample Rich deal, to other undisclosed overseas transaction deals.

On the other hand, Thaksin might only want to use the Manchester City deal to help his publicity stunt, calling for the world's attention to his plight as he has been ousted from power through a military coup.

All of this riddle should unfold over the coming weeks.

by Political Desk

http://nationmultimedia.com/2007/05/15/hea...es_30034270.php

My personal opinion is that Premier League Clubs are good for foreign investment, everyone is buying now - Americans, Russians, Arabs. Who cares about the long term effects? Not me, really, I live in Thailand.

When they turn passion into business I'll simply stop watching.

[sriracha john]

Manchester City 'waiting on Thaksin'

Manchester City Football Club, which fired manager Stuart Pearce on Tuesday, now seems likely to wait before appointing a successor. The club seems likely to wait until it is clear whether or not Thaksin Shinawatra’s proposed takeover of the Premiership club is to proceed, the British press are reporting as of Wednesday morning. Mr Thaksin reportedly favours the appointment of someone with a European profile with the likes PSV Eindhoven manager Ronald Koeman, Lyon boss Gerrard Houllier and former Chelsea manager Claudio Ranieri among the names touted as possible managers if the City of Manchester Stadium comes under Thai control, the newspapers report. The Jewell option was thought to be not acceptable to Thaksin, the former Thai Prime Minister whose financial advisors are currently examining the City books with a view to a takeover.

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=118768

[MiG16]

When they turn passion into business I'll simply stop watching.

sorry but most big clubs already do that. and yes including my beloved Arsenal. all the merchandise? not to mention the ones targeted at kids? all the yearly change of kits?

amongst other things.....

anyhow...not seen MrBoJangle's opinion on this

read somewhere that Thanksin will make his official offer this Friday, and rumour has it that part of the offer will include making a large sum available for buying new players.....

[sriracha john]

Thai central bank could block Manchester City purchase

Bangkok: A bid by former Thai premier Thaksin Shinawatra to purchase Britain's Manchester City football club could be blocked by Thailand's central bank, media reports said Wednesday.

According to Bank of Thailand (BoT) regulations, Thai citizens wishing to take out more than $50 million for investments abroad must seek prior approval from the central bank, and it is questionable whether it will grant it if Thaksin makes a serious offer to Manchester City.

"Thaksin has to prove that purchasing Manchester City is a rational deal that is beneficial to the country," an anonymous financial source told The Nation newspaper.

The price tag for Manchester City is about 100 million pounds ($200 million), which is well within Thaksin's means.

Thaksin's family fortune, earned off investments in Thailand's flourishing telecommunications sector that blossomed during his five years as premier, has been estimated at $3 billion, but it is unclear how much of that has been socked away overseas.

Thaksin, who was toppled by a military coup Sep 19 last year, is currently living in London where he owns several properties and his eldest daughter is attending university.

In 2005, when he was still prime minister, Thaksin tried to raise 70 million pounds ($140 million) in public funds to buy a 30 percent stake in the Liverpool Football Club but the deal was nixed by the central bank on the ground that football is a high-risk business.

Thais are avid fans of European football, but the Thai team is not up to international standards.

It is unclear whether Thaksin is serious about the Manchester City purchase or is just manipulating the media to gain free publicity.

The Guardian reported that the former premier was given a VIP tour of the City of Manchester Stadium Monday and was consulted on the recent sacking of the club's manager Stuart Pearce.

- IANS

[gummy]

For an investment of this size, and assuming it is not already in England, or indeed assuming that the legal purchase will be transacted in the UK, then the BOE/Commercial Banks will require to be satisfied where these significant funds are from in order to comply with anti-money laundering requirements.

So assuming, from a UK perspective, that they are satisfied, and hence allow the transaction, it must then indicate that those fund are indeed from a legitimate source. Thus would that not be proof to the Thai authorities that indeed these funds were in fact previously undeclared irrespective of the offshore vehicle used in the respective transactions to enable said funds to be accrued?

[sriracha john]

Does Thaksin have foreign bank accounts?

The Bank of Thailand says the ex-premier has not made any request to transfer the 7.34 billion baht he will need if he is serious about buying the Manchester City Football Club. Under Thai law, the central bank must approve any money transfer exceeding 50 million dollars to overseas. But a senior official said the bank had not received any such request from Mr Thaksin or his family. Mr Thaksin could bypass the central bank procedure if he had accounts abroad, the official said. Mr Thaksin, an avid football fan, has made a 108 million pound (7.34 billion baht; $215 million) offer to buy the Premiership club, according to British newspaper The Sun. According to official documents released after the September coup, Thaksin was worth $339 million.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=118777

[sriracha john]

City fans still silent over Human Rights wrongs

By the start of next week advisers for Thaksin Shinawatra will complete their examination of Manchester City's books and formally table a £100 million bid for the club.

With a rival offer from City's former full-back Ray Ranson kicked into touch by chairman John Wardle early on, and an unnamed American consortium failing to materialise, the ousted Thai Prime Minister's offer has become the clear frontrunner.

The Thai businessman and politician was at City's Eastlands home earlier this week for talks on the deal and to discuss plans for who should take over from Stuart Pearce as manager following his sacking on Monday.

With so many foreign investors piling into the Premiership over the last three years, fans have become increasingly numb to the prospect of being run by wealthy businessmen from overseas.

But the lack of dissent from City supporters over Thaksin's bid for control of Manchester City is surprising when one considers the outcry which accompanied his abortive attempt to buy into Liverpool three years ago.

Then, human rights groups and supporters united to express their concern at the prospect of one of English football's most revered institutions being part owned by a political leader who had been criticised by the United Nations over Thailand's crackdown on drug dealers and Muslim insurgents in the south of the country.

Since then the political landscape in Thailand has been completely transformed with Thaksin ousted in a military coup last September. He is living in self-imposed exile in Kensington, London, while leaders of the junta have launched criminal proceedings against his wife over a land deal in 2003 which he could also be implicated in.

Members of his family have also been investigated in Thailand over the sale of Thaksin's telecommunications firm, Shin Corp, to Temasek Holdings, an arm of the Singapore Government, in January 2006 in a deal worth $1.88 billion (about £910 million).

The sale attracted criticism because Thaksin's family did not pay tax on the deal. The controversy played a major part in his ousting as Prime Minister last year.

Whatever the truth about his business dealings, sources in Thailand are questioning his reasons for buying Manchester City. As with his previous attempts to buy Liverpool and Fulham, some are claiming it is little more than a publicity stunt.

With the Premiership hugely popular in Thailand, English football could be seen by Thaksin as a way of boosting his popularity and profile back home.

His attempt to buy 30 per cent of Liverpool in a £65 million deal in 2004 descended into a fiasco as he failed to come up with the money needed to complete the deal.

Despite being a billionaire, he at first attempted to use Thai taxpayers' funds before switching to the country's national lottery. When that led to criticism at home he promised private backing before the deal eventually collapsed in farce.

Thaksin's financial advisers, Seymour Pierce, say it is different this time around. It is understood he has already lodged proof of funds with the investment bank.

Seymour Pierce chairman Keith Harris, the respected banker who helped broker Randy Lerner's takeover at Aston Villa and Eggert Magnusson's successful bid for West Ham, says he wouldn't risk his reputation on the City deal if he felt Thaksin was not serious.

"We have done a lot of background checking on this guy," said Harris. "We are satisfied with what we have found out."

The 58-year-old former policeman now claims he has "washed his hands of politics". His lawyer Noppadol added: "He is a genuine sportsman. He loves sport and there is no other motivation for him in this deal."

Despite that, it is widely believed in Thailand that he will seek a return to power at the first available opportunity.

"This is a guy who doesn't quit," said Thitinan Pongsudhirak, professor of political science at Bangkok's Chulalongkorn University. "It's not in his nature."

"This is a win-win situation for him. It allows him to stay in the limelight, make news headlines and remain connected to his support base."

"Manchester City under Thaksin will be Thailand's new team. It's going to be a new focal point, it's going to allow him to get a lot of political mileage and score points at home."

But human rights groups believe City fans should be concerned at the prospect of their club being owned by a man who oversaw the deaths of 2,500 small-time amphetamine dealers in a 'war on drugs' in 2003.

Brad Adams, Asian director of Human Rights Watch, said: "If I was a Manchester City fan I would be very afraid of where this all might lead. Supporters have to ask themselves the question: do they want a ex-Prime Minister with this sort of background and record running their club?"

City fans, meanwhile, seem unconcerned. Supporters' club spokesman Kevin Parker said: "If you could hand pick who you wanted to invest in your football club, he wouldn't be top of your list. But we desperately need investment in the team."

- The Telegraph (UK)

[sriracha john]

Thais see Thaksin seeking spotlight with Man City

BANGKOK - A nation that adores its coverage of English football, Thais are sceptical of deposed premier Thaksin Shinawatra's reported bid to buy Manchester City, seeing it as a ploy to stay in the spotlight.

Thaksin, who was ousted by the military in a September coup, is reportedly poised to take over the Premiership club, with Britain's Sun newspaper saying his offer was worth 108 million pounds (215 million dollars).

But even in self-imposed exile the 57-year-old cuts a divisive figure, and on the streets of Bangkok some people say they see his takeover bid as a stunt to keep his profile high back home.

While the ruling junta has blocked some foreign media coverage about the ousted premier, his reported bid for Manchester City -- which has battled for survival in the Premiership -- has been widely covered by the press.

"This is Thaksin's publicity campaign to keep himself in the public spotlight all the time," said Oranan Paweewan, a 33-year-old office worker.

"He knows Thais are crazy about football. He wants to boost his popularity through the football deal," she said.

Sribenja Semmeesook, a 32-year-old public relation consultant, said the Manchester deal was Thaksin's

"strategy" to get more attention.

"The reported deal was his strategy to seek public attention and remind Thais, especially among the poor, not to forget him," she said.

Thiraphong Meakmaha, a 48-year-old business man, agreed. "He wants to be popular again among Thai people," he said. Thiraphong also said he suspected Thaksin, a self-made billionaire, of trying to "show off his worthiness" to Thais by launching the football deal.

- AFP

[phuketsiam]

I can't believe they only just worked out Thaksin the tax dodger has money abroad, the whole AIS sale was done via offshore companies to avoid paying tax, did everyone think he was using Thai banks. And I love the bit about him loving sport, yeah right when he wanted to use other peoples money to buy Liverpool he could only name 2 players, I think my 6 yo daughter knows more than that, Thaksin loves a few things, himself, face and money, as Man City will find out to their detriment, but I hope they don't

[jayjayjayjay]

Does Thaksin have foreign bank accounts?

The Bank of Thailand says the ex-premier has not made any request to transfer the 7.34 billion baht he will need if he is serious about buying the Manchester City Football Club. Under Thai law, the central bank must approve any money transfer exceeding 50 million dollars to overseas. But a senior official said the bank had not received any such request from Mr Thaksin or his family. Mr Thaksin could bypass the central bank procedure if he had accounts abroad, the official said. Mr Thaksin, an avid football fan, has made a 108 million pound (7.34 billion baht; $215 million) offer to buy the Premiership club, according to British newspaper The Sun. According to official documents released after the September coup, Thaksin was worth $339 million.

Good on him!!!!!!!! Sorry but I don't agree with the masses. Anyone that puts themselves into polictics is open to defensless criticism, rather a stupid thing to do. Buy the bl**dy football team.

I am sure he kept a large part of the funds from Termsak offshore, didn't notice a significant adjustment in the dollar baht at the time of the sale, $2 billion being brought in by Termsak surely would have caused a oneday significant movement on the baht that would have been reported.

Thaksin made his money as corrupt as anyone else doing business in Thailand for the last 20 years, he just did it smarter and better than the rest of us... (jealous, yes). So, IMHO go for it, buy Man U City, stuff up these military mongrels running this country and bury meglomaniac Sonthi L in a hole so deep the only thing we will hear is the odd earth tremor as hot putrid air rushes to the surface!!!!!! ...........

[Plus]

If Thaksin has stashed his money abroad, UK brokers will have no objections, but it's illegal under Thai laws - he has never reported any overseas assets.

It will be like admitting that he lied on his asset declaration - does he want Thais to know that?

Most likely he'll use nominees so that money looks like not his.

>>>

Mig, I know it's a big business already, but not as bad as NBA/NHL strikes a few years back. That's when I lost all interest in them.

[bkkandrew]

When this story first broke, it was reported that, as a condition of opening the books for due dilligence, Taxsin lodged the funds in full with an investment bank in London, so from it can be assumed that the funds are already in the UK...

[Briggsy]

He's sure spinning this one out. How long can he keep stringing everyone along without actually putting his money where his mouth is.

[sriracha john]

Thaksin makes formal bid for Man City

Officials at the Premier League club insist they remain in talks with "a number" of different parties, but Thaksin Shinawatra's lawyer Noppadon Pattama claims the former prime minister has made a formal bid to take over the City of Manchester club. "What I can say now is we have tendered a bid for the team," Mr Noppadon said. "The bid was made a few days ago but we still don't know the final outcome of the deal." Several Thai-language newspapers reported on Saturday that a 100-million pound (7 billion baht or $198 million) deal had already been reached, but Mr Noppadon said this was premature. "The deal is not formally or legally concluded yet," he said. Local media have become obsessed over how Mr Thaksin intends to pay for Manchester City if he wins the bid. Any withdrawal from Thailand banks of more than $50 million would require the approval of the central bank. The wealth of the former premier has been estimated by Forbes magazine and others at around $3 billion, including at least some in the name of his wife and children.

Continued here:

http://www.bangkokpost.com/topstories/tops...s.php?id=118849

[sriracha john]

The Nation

[sriracha john]

FOOTBALL-CLUB PURCHASE

Thaksin seeks BOT blessings for 6.8 Billion Baht deal

Ex-PM's lawyer says move is not political; Man City says other bidders also in the fray

Former prime minister Thaksin Shinawatra will ask the Bank of Thailand to permit him to withdraw an unspecified sum from the country so he can buy Manchester City Football Club.

According to Thaksin's counsel Noppadon Pattama, Thaksin has bid for the club. The offer is estimated at around 100 million pounds (Bt6.8 billion).

Club officials said City remained in talks with "a number" of different parties over a potential buy-out.

"What I can say now is we have tendered a bid for the team. We had to be silent because we had to follow stock regulations," Noppadon said.

Offers for listed companies must be lodged with the London Stock Exchange.

Noppadon said the central bank was expected to give the green light because "the money would be used for a good cause".

"The money isn't going to be used for any political purpose, and news of the bid to buy the club isn't politically motivated," he said.

Noppadon also said Thaksin wants to help promote sports in Thailand via the take-over of Manchester City.

Democrat Party leader Abhisit Vejjajiva said the central bank had to handle Thaksin's request with transparency.

"And if there is no money taken out we have to examine the source of funds used if he buys the club," he said.

Assets Examination Committee member Khunying Jaruvan Maintaka suggested Abhisit file a complaint with the committee or the Comptroller-General to allow an investigation of the City bid and its source of funds.

The net worth of Thaksin and his family is estimated to be around US$3 billion.

In January 2006, his family sold off the majority stake of Shin Corp to Temasek Group of Singapore in a tax-free Bt70-billion-plus transaction, triggering a widespread protest and leading to the coup on Sept 19, 2006.

Criminal, tax evasion, abuse of power and other charges have been filed against Thaksin and his family members, with the first criminal case due to be heard by the court in July this year.

- The Nation