Manchester City give Thaksin bid the go-ahead

Manchester City said yesterday the Premier League club were backing an £81.6 million ($162.6 million) takeover bid led by ousted Thai Prime Minister Thaksin Shinawatra.

City said its board intended to recommend the bid from UK Sports Investments, a vehicle indirectly controlled by Thaksin and his son and daughter, Panthongtae and Pinthongta Shinawatra.

The move came hours after Thaksin, who has been based in London since being ousted in a bloodless coup in September, was formally charged with "official misconduct" over a property deal involving his wife.

Commenting on the board's response to his offer, Thaksin said in a statement: "We share a determination to take the club back to its rightful place at the highest level of competition in both the FA Premier League and European football.

"I am in no doubt of the responsibility associated with leading Manchester City and pledge to the fans, players and staff my utmost commitment to the future success of this great club."

The move also appeared to have the all-clear from officials in Thailand, where Army-appointed Prime Minister Surayud Chulanont told reporters: "Thaksin has a lot of money. Whatever investment he has made, that's his business."

Thaksin's spokesman Noppadon Pattama told a news conference in Bangkok: "He will use his family's money to buy the club. The money is legitimate, there is no concern. It is in a place where it can be made available."

A total of $1.5 billion in Thaksin family bank accounts were frozen by Thai authorities last week.

A successful bid is expected to see the appointment of former England coach Sven-Goran Eriksson as manager, taking over the vacancy after Stuart Pearce was sacked last month.

Sky Sports News reported that Thaksin told them in an interview yesterday that he had already held talks with Eriksson about the City job.

The Swede has been out of the game since stepping down after last year's World Cup, where England made a quarter-final exit on penalties to Portugal.

There was set to be a mixed response from fans of City, whose golden years spanned the late 1960s to the mid-1970s.

Alan Galley, chairman of the Manchester City Supporters Club, welcomed the Thaksin bid, telling Sky Sports News: "The club's been drifting for a long, long time and we need to make progress."

Galley was less sure about Eriksson's reception, saying: "He may not be a popular choice among the rank and file fans. It may be that he will have to get everything right first time."

Legal action

Yesterday's filing at Thailand's Supreme Court is the first formal legal action taken against Thaksin since the coup.

Judges are expected to rule on July 10 whether to proceed with the charges. If convicted, Thaksin could face up to 10 years in jail and a fine.

The £81.6 million price tag for City includes 40 pence each for the club's shares and £60 million of debt. UK Sports Investments currently controls around 56 per cent of the shares.