Manchester City’s controversial owner, the former Thailand Prime Minister Thaksin Shinawatra, may be looking to sell the team after just one year.
According to Ian Ladyman, Shinawatra “has spoken to an intermediary in the financial world over the past month about finding prospective buyers.” And he quoted “sources close to the situation” as saying that “two anonymous parties have been approached as Thaksin has investigated ways of selling the club he bought for £80 million [$160 million] last summer or bringing in fresh investors.”
Shinawatra, who was strongly condemned by Amnesty International for human rights abuses while head of the Thai government, is still facing corruption charges in Thailand, and the freezing of a reported $1.6 billion in assets has caused cash flow problems for City. Like all Premier League managers, City boss Mark Hughes needs funds for new players if he’s to have even half a hope of challenging for a top-six place in the Premier League.
A Manchester City spokesman said the story it was “not true” to say that Shinawatra was trying to sell Manchester City, or that he was looking for a buyer. “Since he bought the club a number of potential investors from his wide network of business associates have spoken to Dr Thaksin about investing in the club. These discussions have been nothing more than exploratory.”