Thaksin to meet the FA as Thai investigation looms

Thaksin Shinawatra, making a bid for English Manchester City, will be called in by Football Association officials to let him know about the responsibilities of club ownership.

With accusations of corruption and an investigation surrounding the former Thai prime minister, the FA is concerned about Thaksin's baggage.

Thaksin had GBP 1.1 billion in assets frozen by the current Thai government, though that has not hindered his attempt to take over Manchester City. The prime minister moved GBP 150 million into a British bank account a few weeks before his bid for Manchester City became public.

Thailand finance minister Chalongphob Sussangkarn said there was a 'mystery' over how Thaksin has funded his bid for City.

Keith Harris, the executive chairman of Seymour Pierce Investment Bank who brokered Thaksin's GBP 81.6 million bid, backed the former leader, saying the money involved in the deal is clean.

The FA has regulations that can ban people from being involved in the upper-echelon of the league for any character issues, including crimes such fraud and tax evasion.

The association must decide whether the group that toppled Thaksin would be neutral when it comes to judging any corruption issues. Despite Harris' vows, Thai authorities also are investigating whether Thaksin legitimately obtained the money for the takeover.

The process of meeting with prospective buyers is not new. FA chief executive Brian Barwick also met with Malcolm Glazer and his sons when they made theiur bid on Manchester United two years ago. Hr recently held meetings with Aston Villa owner Randy Lerner when he bought into the club, and Liverpool's Tom Hicks and George Gillett.

"Barwick has made a point of meeting with several of the foreign businessmen who have bought into English clubs over the last couple of years," an FA spokesman said. "The purpose of the meetings is to make them aware of the traditions of those clubs, and their importance to their fans and local communities. He will be looking to do the same with Thaksin Shinawatra."

But with the cloud that has surrounded Thaksin, this could be much more than a welcome-to-the-league meeting.

When Thaksin was prime minister, he was required by law to declare all his assets and, Chalongphob said, foreign assets were not declared.

Despite Harris' word, Thai authorities are skeptical about the source of the money.

"I am sure Thailand's Asset Examination Commission will look at the source of these funds and try to see whether they are legal funds that were taken out or by other means," Chalongphob said. "If the deal for City goes ahead and the money paid they will try to look at it. We don't know yet how he is going to finance it. We won't know until the deal is finalised."

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