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City face confusion over Thaksin bid

11/06/2007

Manchester City have asked for clarification from former Thai prime minister Thaksin Shinawatra after reports from his homeland claimed his assets had been frozen by the government.

Shinawatra, who attempted to buy control of Liverpool in 2004, is under investigation over allegations of corruption relating to his time in office.

The Eastlands outfit are understandably fearful that advanced negotiations over Shinawatra's proposed takeover of the club may be derailed should his £830 million fortune be permanently seized.

"The board notes the information emanating out of Thailand today in respect of Dr Shinawatra and the freezing of his assets," read a statement from the club.

"The board and its advisers are in discussion with Dr Shinawatra's advisers to confirm the implications of these developments in respect of their client's interest in potentially making an offer for the company."

Shinawatra has been allowed access to the club's accounts on the strength of a bid submitted last month.

However while his advisors assess the club's financial position and the former statesman's standing is established, City's summer rebuilding remains in limbo.

So far the only activity around the managerless squad has seen key defender Sylvain Distin and veteran midfielder Trevor Sinclair depart for Portsmouth and retirement respectively.

Former City player Ray Ranson dropped out of the running to takeover the club after his proposal received a lukewarm response from the board.

However it is believed that he secured the right to re-enter negotiations should Shinawatra fail to complete a deal and he may well find the board more receptive to his plans should that happen.

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