Despite denial Shinawatra could sell Manchester City

Despite the improvement owner Thaksin Shinawatra has brought to English Manchester City, recent reports suggested that the club may be changing hands.

However, City officials have denied the reports. "It is not true to say Thaksin Shinawatra is selling Manchester City," said a club spokesman.

Shinawatra, currently involved in corruption charges in Thailand, was subject to an EUR 1.2 billion asset freeze, creating a possibility that he will be forced to either sell the club or start hunting for new financial support. It appears that the current owner has already spoken to potential investors.

At least three groups based in the Middle East and India have been approached by an intermediary with a brief to find the money to catapult City into the Premier League top four, the Manchester Evening News reported.

Since taking his place at Manchester, Shinawatra has secured almost GBP 70 million worth of transfers and decreased the club’s debt level by GBP 50 million.

In addition to the disarray surrounding Manchester, Shinawatra has also been battling family trouble, after his wife was declared guilty of a multi-million dollar tax evasion last month.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.