Manchester City set for major deadline-day signing after mystery Arab businessmen buy out Thaksin's share
By Sportsmail Reporter Last updated at 11:17 AM on 01st September 2008
Manchester City fans can expect a huge deadline-day signing after a United Arab Emirates-based business today claimed to have completed a takeover.
The Abu Dhabi United Group for Development and Investment claim to have bought out Thaksin Shinawatra's share in club - and will want to make an instant mark on the Barclays Premier League.
Group representative Dr Sulaiman Al Fahim told
www.arabianbusiness.com: "We will release details later, but this is a great event for both the club and Abu Dhabi.
"Our goal is very simple - to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season."
Former Thailand Prime Minister Shinawatra took charge at City in July 2007 but reports indicate he has now left the club.
Al Fahim said: "We will adopt marketing plans that reflect positively on the club and the company from investments in all sectors of television marketing and purchasing of the star players, as well as development of infrastructure facilities at the club."
Thaksin had big plans for the Blues when he took over 14 months ago but his hopes have been dashed amid legal wrangling in his own country which currently see ?1billion of his investments frozen.
The situation for Thaksin worsened further still recently when his wife, Pojaman, was sentenced to three years in prison on a variety of corruption charges, although she has since been released on bail.
Thaksin himself is facing similar charges but flew to England last month, on the day he was due to make a court appearance in Thailand.
He and his wife were due to return to their homeland in time to answer court in a separate property case.
Thaksin, who has always insisted the charges are politically motivated, said in a statement that he and his wife planned to stay in England "where democracy is more important".
Only in April, Thaksin claimed City would be a Champions League club in another year, and the apparent new owners, known as ADUG, share that ambition.
Thaksin offered to resign from the board at Eastlands in August, executive chairman Garry Cook revealed.
Cook said at the time: "Dr Thaksin is embarrassed about the indignity brought on all the entities - the club, the Premier League - he never intended this.
"Dr Thaksin has been really open about this. He has said to me, 'If you need me to resign from the football club as a director, because it would serve the needs of the Premier League, then I'm fine with that as long as that doesn't change any other thing'."
Cook also admitted Thaksin has financial constraints but denied it will be a major problem for City.
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