Manchester City concerned as Thaksin's assets seized

English Manchester City may have to look elsewhere for a new buyer when the seemingly inevitable happened – former Thai Prime Minister Thaksin Shinawatra had his assets frozen by the government he once ran.

The announcement by the Thais that Thaksin's asset flow has been stopped could hurt his takeover attempt of Manchester City. The club's lawyers have asked for written assurances that he still can muster the cash for the GBP 90 million price tag.

Those who know the prime minister swore that the frozen assets would not stop him from buying Manchester City. But, as he has gone through due diligence with the club, club officials are concerned that Thaksin won't be able to reach assets of GBP 1.4 billion.

The Assets Examination Committee (AEC) stated that if he were found to have made money illegally his assets would be seized. Thaksin has 60 days to appeal.

Thaksin was ousted as prime minister in a bloodless coup last year. Human rights groups had demonized his reign as oppressive.

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