Embattled former Thai PM and Manchester City owner Thaksin Shinawatra has signed a memorandum of understanding with Abu Dhabi United Group (ADUG) which could lead to the Arab company acquiring a majority stake in the club.
According to ADUG the takeover was finalised on Sunday at the Abu Dhabi Emirates Palace Hotel, although the BBC has stressed that the deal is only a gentleman's agreement.
Even so, ADUG's head Dr Sulaiman Al-Fahim has already highlighted his aims for the coming season and beyond - and the ambitious scope of his plans will no doubt excite both City manager Mark Hughes and the club's fans.
In an interview with BBC Sport, Dr Al-Fahim pledged to "solve all the club problems", "clear any pending payments" and "bring the best football players in the world" to Eastlands.
He also said ADUG had "really deep pockets" - a statement backed up by an audacious bit for Manchester United target Dimitar Berbatov on transfer deadline day.
Dr Al-Fahim expects City to be an established top-four club within three seasons, and even pledged to ensure that the cub qualifies for the Champions League in the 2009/10 season.
Dr Shinawatra, meanwhile, has had his assets frozen in Thailand until charges of corruption filed against him in his native country have been answered.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
