Thaksin Completes Man City Buyout

[chachachacha]

I'm not sure I have any particular concerns, I'm just saying that Man City buyout saga gives bad example in terms of transparency and good governance. Should I be concerned about it?

If Thaksin finally buys a club he can apply for permanent residency there and enjoy lots of rights, particularly protection from prosecution from Thailand. Clever way to get out of legal troubles. Talk about legalised money laundering. People are watching. Not you and me, probably, but those who might need to legalise and protect their money.

Should I be concerned? It's not my reputation, you know.

Even if he became a British citizen it would not be that he had any right to be free of prosecution from Thailand?

es - he could clai it was politically motivated like the Russian Billionaire but just the fact he is PR ow whatever in the UK does not afford him any more rights than I would if Thailand wanted to extradite me.

I can assure you all that if he stays in a euoropean country then he is protected by euorpean human rights laws.Which protect every indiviual from any threat to there person.ie-torture death or in human treatment.With the reports on thailands treatment of prisoners supported by amnesty international year in year out then there is no way he will get extridited.

Edited July 10, 2007 by chachachacha

[Tony Clifton]

I'm not sure I have any particular concerns, I'm just saying that Man City buyout saga gives bad example in terms of transparency and good governance. Should I be concerned about it?

If Thaksin finally buys a club he can apply for permanent residency there and enjoy lots of rights, particularly protection from prosecution from Thailand. Clever way to get out of legal troubles. Talk about legalised money laundering. People are watching. Not you and me, probably, but those who might need to legalise and protect their money.

Should I be concerned? It's not my reputation, you know.

Even if he became a British citizen it would not be that he had any right to be free of prosecution from Thailand?

es - he could clai it was politically motivated like the Russian Billionaire but just the fact he is PR ow whatever in the UK does not afford him any more rights than I would if Thailand wanted to extradite me.

I can assure you all that if he stays in a euoropean country then he is protected by euorpean human rights laws.Which protect every indiviual from any threat to there person.ie-torture death or in human treatment.With the reports on thailands treatment of prisoners supported by amnesty international year in year out then there is no way he will get extridited.

Torture? Death? Come oooon.

Election commissioners were released after 3 days for ruining an election. Samak, Sonthi L. relreased within 24 hours. Banned TRT members still politically active. Unless he thinks people are still murdered and disappearing as happened under his rule. The wife and kids never even saw their movements at home and abroad being restricted. Only his diplomatic passport was revoked.

"They decided not to return now," Mr Noppadon said.

He added that the court's decision to accept the lawsuit is only part of what is expected to be a lengthy judicial process and stressed that the ousted Premier and his wife remain innocent until proven guilty.

http://www.bangkokpost.net/breaking_news/b...s.php?id=120043

So, how exactly will they ever prove their innocence while avoiding Thailand and it's courts, playing football manager or unnecessarily using hospital services by faking illness.

He feels safe in London but the money trail will betray him in the near future. Still waiting for him to get pinched out of China for holding politically motivated meetings.

[Plus]

I didn't make up that residency argument in his defence. I believe there are difference in legal rights of people applying for visas and people permanently residing in the UK. Visa application forms have criminal records fields in them to fill out, don't they?

EPL might not the most corrupt league in Europe but it is certainly the most visible. Italians punished Juventus and AC Milan, that made them look clean, and when they won the World Cup people have forgotten about scandals. Germany had its own match fixing scandal not long time ago, and actions were taken. In Thailand no one noticed.

Nothing good ever happens in EPL, even just for pulicity's sake. All the news coming out of there are a PR nightmare.

Right now two questionble deals are going on, one is Thaksin's Man City takeover, another is Man U signing Tevez from West Ham (they themselves aqcuired him illegaly a year ago).

To be fair EPL is not just a business - it's an industry with hundreds of powerful players, that means there's no one ultimately responsible for the overall bad image. FA is hopeles and new sports minister has been in the job less than two weeks.

[sriracha john]

Thaksin's football deal could be in trouble, say UK media

Former premier Thaksin Shinawatra's takeover of the Manchester City football club could be affected after the Supreme Court has agreed to hear corruption charges against him, the British media reported on Tuesday.

BBC's Jonathan Head in Bangkok reported a conviction in Thailand could affect Thaksin even if he stays in exile.

His recent acquisition of the British football club is still subject to the British Football Association's "fit and proper person" test, which specifically bars people convicted of corruption, even in a foreign court, the BBC correspondent added.

The British media also played up the news of Thaksin being summoned by the Supreme Court to appear before the court to enter a plea on corruption charges.

Right after the court's order, websites of leading British media such as BBC, The Guardian, The Telegraph and The Sun reported that Thaksin's football deal was likely in a serious trouble due to his corruption charges and his assets frozen in Thailand.

A Guardian headline read: "Thaksin ordered to face corruption charges in Thailand."

Just as Thaksin appeared to be within days of closing a 81.6 million pound deal to buy the football club, Thailand's highest court for the first time ordered him to answer accusations surrounding a multi-million pound land deal, it reported.

A headline in The Telegraph website said "Thaksin ordered back to Thailand". It reported that Thaksin must return to Thailand to appear in court to face corruption charges.

The Sun said Thaksin could face prison sentence. It said a panel of Supreme Court judges agreed to proceed with charges described as "misconduct of a government official and violation of a ban on state officials being party to transactions involving public interests".

If found guilty the ex-Thai prime minister could face up to 10 years in prison, according to chief prosecutor Seksan Bangsomboon.

Thaksin and his wife Pojaman will be expected to appear before the Supreme Court on August 14 to enter a plea on corruption charges relating to the purchase of Ratchadaphisek land in 2003.

The court's Criminal Tribunal for Political Office Holders set the date following its decision on Tuesday to hear the case.

- The Nation

[Martin]

A football club seems to be but a ball in another game!

[peterpanner]

Manchester City. Hahaha. I can't have a Ferrari, I'll buy a Lada.

[Prakanong]

I'm not sure I have any particular concerns, I'm just saying that Man City buyout saga gives bad example in terms of transparency and good governance. Should I be concerned about it?

If Thaksin finally buys a club he can apply for permanent residency there and enjoy lots of rights, particularly protection from prosecution from Thailand. Clever way to get out of legal troubles. Talk about legalised money laundering. People are watching. Not you and me, probably, but those who might need to legalise and protect their money.

Should I be concerned? It's not my reputation, you know.

Even if he became a British citizen it would not be that he had any right to be free of prosecution from Thailand?

es - he could clai it was politically motivated like the Russian Billionaire but just the fact he is PR ow whatever in the UK does not afford him any more rights than I would if Thailand wanted to extradite me.

I can assure you all that if he stays in a euoropean country then he is protected by euorpean human rights laws.Which protect every indiviual from any threat to there person.ie-torture death or in human treatment.With the reports on thailands treatment of prisoners supported by amnesty international year in year out then there is no way he will get extridited.

Sorry but that argument has been tried before by some Thai banking guy in the UK - he went back. This guy even complained about th conditions in the British prison system he was being held in and had a Thai Minister fly out to back him up in a private capacity which was pecukliar since it was the Thai govt anted him.

Therefore you can not assure me of anything - precedent says it is possible to go back!

"If" Thailand wanted to extradite Thaksin he may well try to us the not getting a fair trial argument or politically motivated justification but the conditions in a Thai jail would not be a factor.

It might be somewhere else like Belgium though where they raisde money for that guy who murdered his girlfriend and ran to escape justice.

[cyborg22]

I do not think this looks good for the Thai govt...The can not even figure out where the money came from...

On the other hand, can and will Thaksin open his books and prove how all that money found it's way abroad?

All i can say is the day thaksin is brought to book is the day man city will win the cup final,

Enough said

[John K]

So what is the pre-game score now? Two people or sources of purchase money that was declared clean by the sellers now tied to dirty money? I think that indigestion may become or spread to a headache soon. Amazingly this is just the first waltz with the devil, I can’t wait until they get to the tango.

Perhaps we should be debating how the Thai government will be handling their new football team.

Edited July 11, 2007 by John K

[Mobi]

Excuse me that if this has been suggested before, but isn't it at least possible that Thaksin has other motives, other than keeping his name alive in the media by buying Man City.

Given that the money used to buy the club is probably tainted, maybe our beloved ex leader sees the purchase of an English football club as a good way to launder his dirty money. When all is said and done, Man City is a premiership club with a lot of history, and such clubs are increasingly becoming the target of foreign billionaires.

It is possible that Thaksin hopes to hold onto the club for a year or so, and then sell it on - hopefully at a profit to one of these dreamers. He must know that he might have a problem getting approved as a 'fit and proper person' and even if he does, he might subsequently get disqualified as he becomes more and more embroiled in criminal court cases back in Thailand. He is canny enough to know he can never make an operating profit out of such a venture, and he is starting to duck and dive about his previous promises to make a large pot of money available to buy new players.

So to him it could be a 'win win' situation. Loads of publicity to keep his name alive, and eventually sell on, launder his money, and maybe even turn a capital profit on the deal. Even if he sells on at a loss, he ends up with 'clean' money.

And don't forget - now he owns and controls the club, he can sell to anyone he chooses - he doesn't need the approval of anyone - which will make selling it a much easier task than they have at most clubs -like Arsenal, for example, where shareholders and chairmen have to be consulted.

Edited July 11, 2007 by Mobi

[Prakanong]

Excuse me that if this has been suggested before, but isn't it at least possible that Thaksin has other motives, other than keeping his name alive in the media by buying Man City.

Given that the money used to buy the club is probably tainted, maybe our beloved ex leader sees the purchase of an English football club as a good way to launder his dirty money. When all is said and done, Man City is a premiership club with a lot of history, and such clubs are increasingly becoming the target of foreign billionaires.

It is possible that Thaksin hopes to hold onto the club for a year or so, and then sell it on - hopefully at a profit to one of these dreamers. He must know that he might have a problem getting approved as a 'fit and proper person' and even if he does, he might subsequently get disqualified as he becomes more and more embroiled in criminal court cases back in Thailand. He is canny enough to know he can never make an operating profit out of such a venture, and he is starting to duck and dive about his previous promises to make a large pot of money available to buy new players.

So to him it could be a 'win win' situation. Loads of publicity to keep his name alive, and eventually sell on, launder his money, and maybe even turn a capital profit on the deal. Even if he sells on at a loss, he ends up with 'clean' money.

Exactly - it could be multiple motives.

If the team does well his investment may grow plus he will be looked upon favourably by a good portion of the Thai populace - after all he would have went to the home of football, the richest league in the world and competed there - how many other Thai's compete on a visible world stage?

Then as you so rightly point out the money the EPL is attracting now and its popularity may mean he can seel the club at a profit while cleaning any money he has invested.

More commentators are talling of him being a spent force in Thai politics now - maybe this is his way of ensuring his family have some large ssets while waiting for the inevitable watershed in Thai politics and society which will come sooner or later?

As for Man City - another sleeping giant - we seem to have a lot of them!

Thaksin even if he had it would never put the mone in to buy the Premiership - it cost Abronovich a lot more than it cost Walker remember and its inflation all the way now due to the money flowing in from Rupert at the top to the club owners further down.

[John K]

I agree with the multiple motive idea. I suspect at first it was to keep his name in the media, but after the TRT was dissolved it became more serious and is some sort of an anchor. I can’t see all the angles in how this ties into money laundering as that is far from my area of expertise. However knowing Thaksin I am sure he has viewed that as the objective even a few years ago when he was after another team. It is a bit like the A10 Warthog, they built the plane around the gun.

[Prakanong]

"I agree with the multiple motive idea. I suspect at first it was to keep his name in the media, but after the TRT was dissolved it became more serious and is some sort of an anchor. I can’t see all the angles in how this ties into money laundering as that is far from my area of expertise."

Bloody hel_l we seem to be agreeing for once ;-)

The laundering thing may be related to where the money came from - is it ofshore money never declared. Maybe not black money in being totally ilegal but in a grey area in Thail law and putting in in and out of the UK in such a public fashion might make it whiter than white???

Sorry but money laundering was not a specialist subject ;-)

As for his old attempt to buy Liverpool - I see that as his limelight motive rather than fiscal - after all it was th Thai people not Thaksin who were to own it (Might not have been a bad idea now it has been sold) - it would have raised Thai Consumer Confidence more than 33% and 24% increases in military spending ;-)

All those 10% skims of the generals of military contracts are not raising spending

Edited July 11, 2007 by Prakanong

[hammered]

I do not think this looks good for the Thai govt...The can not even figure out where the money came from...

On the other hand, can and will Thaksin open his books and prove how all that money found it's way abroad?

All i can say is the day thaksin is brought to book is the day man city will win the cup final,

Enough said

nice one

[Mid]

Thaksin addresses Man City players

July 10, 2007

New Manchester City owner Thaksin Shinawatra met with the players yesterday.

Thaksin visited the club to outline to the players his vision for the future and remind Sven-Goran Eriksson, the new manager, that the funds are in place with which to mount a belated, if aggressive, summer spending spree.

Tribalfootball.com

Edited July 11, 2007 by Mid

[Plus]

There's no way Man City will make any profits for Thaksin.

The club is valued only at 21 mil pounds and that's what he will be able to sell it for, in that range anyway. Don't forget that he paid 80 mil to include debts and new players - those extra 60 mil will never be recovered.

Very few EPL clubs are profitable, as a business investment they are hard sell. People buy them as playtoys, like Abramovich or Arabs. Glazier does not count as he bought the most profitable club ever - Man U, and I think he won't hesitate to sell if it doesn't turn profits soon.

As a business European soccer is no match to American sports - there's very limited profit making potential as there are no advertising breaks during the game. They can't make money off the tickets, TV rights are set equally for everyone, the only potentially growing income is sponsorship.

[Mobi]

There's no way Man City will make any profits for Thaksin.

The club is valued only at 21 mil pounds and that's what he will be able to sell it for, in that range anyway. Don't forget that he paid 80 mil to include debts and new players - those extra 60 mil will never be recovered.

Very few EPL clubs are profitable, as a business investment they are hard sell. People buy them as playtoys, like Abramovich or Arabs. Glazier does not count as he bought the most profitable club ever - Man U, and I think he won't hesitate to sell if it doesn't turn profits soon.

As a business European soccer is no match to American sports - there's very limited profit making potential as there are no advertising breaks during the game. They can't make money off the tickets, TV rights are set equally for everyone, the only potentially growing income is sponsorship.

Yes, I mentioned this in another thread. Thaksin has only parted with 22 million, not 82 million. His company has assumed debts of 60 million, much if it being long term debentures, which do not have to be repaid any time soon. Of course, Thaksin's buying vehicle is a limited company, so if it happens to go broke, Thaksin will not be personally liable for the debts. (Look at the situation at Leeds if you are in any doubt as to how this works).

All this doesn't mean that Man City cannot make an OPERATING PROFIT, although this is doubtful, certainly in the short term - unless they make a profit on the buying and selling of players, and as they are currently in buying mode, that is extremely unlikely.

But as Plus has said, Thaksin could sell the club for anything over 22 Million, and turn a capital profit. (The buyer would also have to assume the debts of 6o million.)

It will be interesting to see what Thaksin does with this club over the coming months.

[John K]

Thaksin charge raises concerns about foreign ownership

The Premier League's "fit and proper person" test for club owners was under political attack on Tuesday night after Thaksin Shinawatra, the Manchester City owner and former Thai prime minister, was summoned home to answer corruption charges, The Guardian online reported.

Hugh Robertson, the Conservative shadow sports minister, said fans would be unable to understand how Thaksin could be a suitable owner of City.

"Once formal charges have been laid it is difficult for the layman to understand how any fugitive from international justice facing corruption charges could be a fit and proper person to own a football club," said Robertson.

The Londonbased the Guardian quoted Robertson as saying developments at Manchester City and concerns about foreign ownership of leading clubs meant that it might be necessary for the Premier League to look again at the effectiveness of the fit and proper person test.

The new sports minister, Gerry Sutcliffe, would not be drawn on Tuesday to comment on specific cases but said the government was not complacent about foreign takeovers.

"I want the tradition of football to be respected," he said. "We are dealing with companies governed by the rules of the stock market and company law."

Thaksin arrived at the City of Manchester Stadium on Wednesday and spent 20 minutes talking to the players after successfully completing his ฃ81.6m takeover.

His arrival in Manchester coincided with a decision by the supreme court in Thailand that they would hear corruption allegations against him, reported the Guardian.

City's new manager, SvenGoran Eriksson, meanwhile, has returned to Italy to make his first major signing. The club is close to confirming the arrival of Reggina striker Rolando Bianchi.

Eriksson, whose managerial career includes spells at four Italian clubs, has beaten off interest from Juventus and Napoli to secure Bianchi, although City last night gave a guarded response to claims from Pasquale Foti, the Reggina president, that the two clubs had a preliminary agreement for a fee of ฃ8.7m for the 24yearold.

"We have not agreed a fee with Reggina yet," said a City spokesman. "He is a player who does interest us, but no fee has been agreed."

Source: The Nation

It is beginning to sound like having face is a requirement

[sriracha john]

THAKSIN: I'M HERE TO STAY

Thaksin Shinawatra has reassured Sven-Goran Eriksson that he will be in the directors’ box for Manchester City’s opening fixtures of the season rather than a courtroom in Thailand.

City’s new owner met Eriksson for the first time since his appointment as manager at the club’s Carrington training ground on the day he and his wife were ordered back to their home country to face corruption charges.

As Eriksson prepared to pay Italian club Reggina over £8 million of Shinawatra’s vast fortune to make striker Rolando Bianchi his first signing, City’s wealthy new owner was embroiled in fresh controversy.

Thailand’s supreme court has set August 14 as the first hearing for Shinawatra to face charges of corruption, conflict of interest and dereliction of duty for personal gain in a land deal.

The former Thai prime minister has protested he is innocent of all charges, but is steadfastly refusing to return to the Far East while the military junta that ousted him is still in power because he fears he will not be given a fair trial.

His Bangkok attorney, Noppadol Pattama, said: “I fear that my client will not get a fair trial because the judicial

system in Thailand has been interfered with by some powerful groups – and I also fear for his safety.”

Shinawatra says the constant raft of accusations and charges levelled against him are part of a concerted smear campaign by the military generals who have tried to dismantle his business and political empires. After the bloodless coup last year, the government set up the Assets Examination Committee, a team of graft investigators, and the 2003 land deal is one of many cases they have examined.

His mounting problems at home did not appear to worry Shinawatra yesterday as he met new boss Eriksson, the City players and the training-ground staff to outline his vision for the future of the club and assure them he will be very much a “hands-on” owner. *hahahahahaha.... good luck Man City....hope you guys are up for it....*

Eriksson has already insisted he is “not concerned” about the allegations faced by City’s new owner and is just concentrating on signing the new players he needs to guide the club into the Premier League’s top six.

The first of those could be hotshot Bianchi. His agent will arrive today to discuss a deal with Eriksson as City played down claims from Reggina that an £8.8 million fee had already been agreed.

Reggina president Pasquale Foti said: “We have reached a preliminary agreement with Manchester City for the

permanent transfer of Roland Bianchi in an £8.8 million transfer deal. It will be completed by Wednesday.” City say that is premature, but did confirm their strong interest in the player.

After confirming compatriots Hans Backe and Tord Grip as his backroom lieutenants, Eriksson is now taking the City squad to Sweden as they step up their preparations for the new season.

Following their opening pre-season friendly at Doncaster on Saturday, they will play Orgryte on Wednesday before facing Carlstad United three days later. They then return to Britain to open Shrewsbury’s new stadium on August 1.

Shinawatra has promised to be present when City officially launch their new era with a home tie against as yet unnamed European opposition at the City of Manchester Stadium on August 4.

- Daily Express

Edited July 11, 2007 by sriracha john

[mrbojangles]

There's no way Man City will make any profits for Thaksin.

Can't agree with that Plus.

City are currently the 17th world's richest football club, in terms of income. Source:- http://news.bbc.co.uk/1/hi/business/4716174.stm

So with current income of £60.9m (we don't even get into Europe, so that is an additional money maker) and the fact that in the past we haven't been very PR savvy in promoting ourselves and merchandising. With the right business brain at the helm there is a chance.

No matter what our personal views are of Thaksin, you can't deny he has a brain for making money.

Let's see shall we.

[howtoescape]

Have to disagree with those saying the premier league doesnt make its chairman money.

Freddie Shepherd and The Halls at Newcastle have made 10s of millions, in wages and profits for selling.

The Man U board who sold to the Glazers made 100s millions.

Alan Sugars just sold his share of Spurs for a fortune.

Liverpool Chairman who has just sold at a profit.

Deadly Doug at Villa made a killing.

Wimbledon chairman Sam Hamman made money and bought Cardiff

Ken Bates sold Chelsea made a fortune now is intent on destroying Leeds.

I could go on.

The new premier league deal makes each club 30 million pound a year more then last year, the bigger clubs will soon be selling there overseas TV rights individually. Real and Barca negotiate there TV deals seperately if any of the top 6 were to do this theyd be extremely profitable.

Besides if your a Billionare there isnt that much you can spend this much money on and the boost to your ego owning a football club must be masssive.

[Plus]

There's no way Man City will make any profits for Thaksin.

Can't agree with that Plus.

City are currently the 17th world's richest football club, in terms of income. Source:- http://news.bbc.co.uk/1/hi/business/4716174.stm

So with current income of £60.9m (we don't even get into Europe, so that is an additional money maker) and the fact that in the past we haven't been very PR savvy in promoting ourselves and merchandising. With the right business brain at the helm there is a chance.

No matter what our personal views are of Thaksin, you can't deny he has a brain for making money.

Let's see shall we.

Important point - in terms of income - also from that BBC article: "...concentrates solely on day-to-day income from football business such as ticket sales, merchandising and broadcast revenues.

As a consequence, Chelsea came fifth in the table with income of £149m despite making a record £140m loss last season."

Man City had some 20 mil in debts, 10 mil taken against this year's TV revenues. The club has been losing money for while, isn't it? For Thaksin to recoup his 80 mil investment in three years is impossible.

Here are some other stats:

"Operating profits in the Premier League fell for the first time since

1999/00 to £138m (down 15%) and the number of Premier

League clubs reporting operating losses increased from two in

2004/05 (Chelsea and Fulham) to four in 2005/06 (Aston Villa,

Charlton Athletic, Chelsea and Fulham)."

"The number of Premier League clubs that reported pre-tax profits

fell from 14 in 2004/05 to nine in 2005/06."

http://72.14.235.104/search?q=cache:T7XxZG...t=clnk&cd=2

EPL is the biggest and most profitable European League but investing in American sports make much more sense if one is after the money. Arabs or Russians are not investors looking for profit, and neither is Thaksin, I believe.

Oh, and Thaksin's business acumen is grossly overestimated. He made his money in the nineties having secured very favourable concession terms when the market practically didn't exist. He wasn't at the helm when his company, AIS, fought with the real competition from Telenor (Norway) and Orange, he provided [illegal] political cover, not business skills.

There's also a list of either failing or non-descript companies he started when he diversified in other business areas - a property firm, a personal loan firm, a TV station, and a budget airline. Most of his businesses are under investigation now for either illegaly modifying contracts or concealing shareholding structures and what not. TV station's license has been withdrawn already, for illegally amending the contract, the case started way before the coup.

The grandest fiasco of them all was his business gift to the coutntry - the Elite Card.

If Man City fans believe that this enterpreneur will make them a bunch of money - it's their right, it's their dream, I don't want to soil the moment, really.

Edited July 11, 2007 by Plus

[sriracha john]

Funds freeze won't stop Thai PM's Manchester City bid: Lawyer

BANGKOK - The latest move by Thai graft investigators to freeze more of ousted premier Thaksin Shinawatra's assets will not affect his purchase of Manchester City football club, his lawyer said Tuesday.

Noppadon Pattama said that the 162.6 million-dollar takeover bid was almost complete, and a recent funds freeze by the Assets Examination Committee (AEC) would not scupper the deal.

"It is not affected, the deal is almost complete," Pattama, Thaksin's spokesman in Thailand, told reporters, repeating past statements that the money being used to buy the English Premier League club was "clean and legal."

The AEC on Monday froze 25 million dollars in accounts belonging the Pramaisuri Property Company, which is run by Thaksin's relatives. British newspapers have reported that Pramaisuri holds a key stake in UK Sports Investments (UKSIL), the Britain-based company Thaksin set up to buy Manchester City.

The Thai tycoon, who has lived in exile in London since the putsch, announced on Friday that he had acquired 74.03 percent of Manchester City's shares and declared his takeover offer unconditional.

Although Thaksin has won over the board, he must still pass a standard "fit and proper person" test required by the Premier League.

The AEC last month blocked more than 1.5 billion dollars of Thaksin's assets as part of ongoing anti-corruption investigations into the ousted leader.

- AFP

[mrbojangles]

Important point - in terms of income - also from that BBC article: "...concentrates solely on day-to-day income from football business such as ticket sales, merchandising and broadcast revenues.

As a consequence, Chelsea came fifth in the table with income of £149m despite making a record £140m loss last season."

Man City had some 20 mil in debts, 10 mil taken against this year's TV revenues. The club has been losing money for while, isn't it? For Thaksin to recoup his 80 mil investment in three years is impossible.

Some good points there Plus and i did mention it was income. However, we have been run pretty badly and that is why Makin etc wanted to sell. They knew they couldn't take the club any further. In addition to last years income, the money has gone up considerably this season from TV rights (by about £30m I believe). We'll have to see if he can increase it and more importantly, use it wisely.

I don't want to soil the moment, really.

Too late

[mrtoad]

If reports are corect in the Bangkok Post, which isn't the most reliable, Man City are interested in signing the Thai national goalkeeper.

Interesting times ahead. Will Thaksin be able to run it without interfering?

[sriracha john]

If reports are corect in the Bangkok Post, which isn't the most reliable, Man City are interested in signing the Thai national goalkeeper.

Interesting times ahead. Will Thaksin be able to run it without interfering?

I thought he alluded to his dictatorial style of ownership earlier....

His mounting problems at home did not appear to worry Shinawatra yesterday as he met new boss Eriksson, the City players and the training-ground staff to outline his vision for the future of the club and assure them he will be very much a “hands-on” owner. *hahahahahaha.... good luck Man City....hope you guys are up for it....*

[Prakanong]

Two things

First is Thaksin has not really operated in a free for all open market against sharp lawyers, agents and other businessmen who have made money on a wordl stage. He has been a bit protected in Thailand and his bits outside Thailand have a bit of the Chinese Guanxi about them

He might just sink - will be interesting to see how he fares though.

Second - I do not think anyone mentioned the massive super-casino that was to be built all around the Man City ground - that would have been an attraction for him biz wise

Well Gordon Brown true to his Scottish Presbetyrian roots has just but the mockers on that multi-billion GBP investment.

[sriracha john]

British MPs had raised concerns about Thaksin meeting the Premier League's "fit and proper person" requirement for club owners after he was summoned back to Thailand to answer corruption charges. But Thaksin's lawyer Noppadon Pattama insisted that this would not be a problem for Thaksin since British authorities have to wait until the final court verdict on the charges.

"The deal is about a big amount of money. Thaksin has carefully consulted with his family," Noppadon said.

However he failed to clarify when exactly Thaksin had taken the money being used for the deal out of Thailand. Noppoadon said only that it was clean money that was taken out legally.

"If the money were illegal, the seller would not sell. In England, they are strict about money laundering," he said.

Noppadon said all relevant details and documents would be released on Thaksin's website, www.truethaksin.com, once the deal is completed.

- The Nation

===================================================================

Interestingly enough, when one goes to the site... they discover that the truth from Thaksin is... just like the website, very much, :

Under Developement

[Tony Clifton]

Ain't much truth on truethaksin.com as the whole page is blank.

[younghusband]

Two things

First is Thaksin has not really operated in a free for all open market against sharp lawyers, agents and other businessmen who have made money on a wordl stage. He has been a bit protected in Thailand and his bits outside Thailand have a bit of the Chinese Guanxi about them

He might just sink - will be interesting to see how he fares though.

Second - I do not think anyone mentioned the massive super-casino that was to be built all around the Man City ground - that would have been an attraction for him biz wise

Well Gordon Brown true to his Scottish Presbetyrian roots has just but the mockers on that multi-billion GBP investment.

Interesting post.My gut instinct (though I couldn't care less about English soccer) is that his Man City initiative will end in tears for him and the likely demise of the Casino initiative -which I didn't know about - may be the clincher.

Nevertheless although Thaksin got his start by flogging main frames to a captive audience, the police department - he actually is a very savvy businessman in some ways and way ahead of the crowd given the poor quality of business leaders in Thailand.Generally I would agree that the Sino-Thai business elite is incapable of operating successfully in a competitive world, and prefers the comfort of a quasi monopolistic domestic Thailand market to competing internationally.This partly explains why they joined up with feudal and old power interests under Prem to block Thaksin's globalization efforts, though these were patchy and self serving.

Edited July 13, 2007 by Totster