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Ex-Thai PM's bid for Man City 'close to collapse'

13/06/2007

A bid made by Thaksin Shinawatra, the former Thailand premier, for Manchester City football club is close to collapsing, according to reports.

The BBC has learned that Shinawatra's bank accounts worth £830 million have been frozen as part of an anti-corruption investigation.

And because this threatens his overseas assets, there are fears that he will be unable to go through with the deal.

While Shinawatra's lawyer is cautiously optimistic that the bid will go ahead, the BBC has been told that Man City's board is prepared for bad news and may pull the plug on the deal.

A statement issued by the board read: "The board and their advisers are in discussion with 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, who tried and failed to buy Liverpool FC in 2004, lives in exile in London after being deposed by a coup in Thailand in 2006.

At the end of May, former Man City player Ray Ranson dropped out of the running to take control of the club after his bid received an unenthusiastic response from the board.



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