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City takeover agreed - reports
http://www.skysports.com/story/0,19528,11661_4078332,00.html

Abu Dhabi United Group invest in Premier League club

Manchester City have been taken over by the Abu Dhabi United Group for Development and Investment, according to reports.

The website for Arabian Business claims that a deal with current owner Thaksin Shinawatra was completed on Sunday evening.

The former Thai prime minister has been looking for new investment in the club, despite taking charge just over 12 months ago.

Shinawatra has helped bankroll a number of big-money transfers in the past but, with his assets currently frozen as he awaits trial in Thailand, doubts have been cast over his long-term future at the club.

Details

The Abu Dhabi United Group will be represented on the club's board by Dr Sulaiman Al Fahim, chief executive of Hydra Properties.

Fahim said: "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
 

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I've just read this on the BBC ticker. Looks like Sky Sports are ahead of the game.

There have been rumours flying around about Thaksin selling for a while but they seemed to have kept this deal pretty quiet. Looks like City could become serious rivals in the years ahead.
 

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Would you believe that Corluka has left just when things were starting to look promising for City?

They've got new rich owner who have to be saner than the old rich owner. I mean nobody could be more loony than Shinawatra.


Also how does Ramos plan to keep Corluka and Hutton on the same team?
 

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Whats with the repeated posts?!? Yeah i've heard, i dont think Manchester City attracts big players, because theres only one team in Manchester! And thats United!
 

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Interesting turn of events. With Financial backing, potentially even greater than Chelsea...they're gonna turn into serious contenders for a Top 4 in the coming seasons, probably along with Tottenham.
How wonderful it'd be, to see Liverpool fall, and let their misery and misfortune compound.



It is the Red Flag that Rules Manchester, so they better not be getting any silly Ideas of thinking they're gonna change that.


As for them hi-jacking Berbatov, they must be dreaming. He wants to join Man Utd. He wants Champion's League football. Only at Man Utd is he going to be able to finally win some major trophies, that quality players like him deserve.
 

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Discussion Starter #8
City confirm takeover agreement
http://www.teamtalk.com/football/story/0,16368,2483_4078819,00.html

Manchester City have confirmed they have reached an agreement to be taken over by the Abu Dhabi United Group for Development and Investment.

The deal has been agreed between Al-Fahim and City's owner Thaksin Shinawatra, with Dr Khalid Kadfour Al-Muhairy, the head of the Emirates Group for advocate and legal consultants also involved in the negotiations, the statement confirmed.

No financial details were initially revealed in the statement, which was released by Samir Al-Neel, media and public relations manager at Hydra Properties.

Al-Fahim is chief executive of Hydra Properties.

"The investment services and development in Abu Dhabi, has successfully completed the huge takeover of the English club (Manchester City), one of the most prominent and oldest English clubs," the statement read.

The statement added that Shinawatra will retain a role as "honorary president of the club without any administrative responsibilities".

The statement from Hydra added that the deal was signed at Abu Dhabi Emirates Palace Hotel, and the deal was considered a "massive achievement for the Emirate of Abu Dhabi".

It continued: "By engaging into sport's investment, Abu Dhabi United Group for Development and Investment aims to reinforce Abu Dhabi's position as a capital of both sport and economic (development), through...supporting the Emirate's sports and attracting the world's attention to UAE through this purchase of one of the oldest English clubs.

"The company believes this step will open new horizons for the talented and gifted nationals...to develop their skills."

Al-Fahim said: "We in Abu Dhabi United Company for Development and Investment keen deep concern for ways to provide support and care for various sports activities to help build and develop a new generation...which represents the real wealth and the future of this nation and the cornerstone for building the future of our civilisation."

The statement also said that Al-Fahim had pledged to "solve all the club problems and clear any pending payments, and will comprehensively support the club by bringing the best football players in the world" to Eastlands.

Success in the Premier League, but also "European and world level" would be the aim, with "the qualification of Manchester City to the European Champions League (for) next season 2009-10" also highlighted in the statement.

Al-Fahim added: "We will adopt marketing plans that reflect positively on the club and the company."

City later reported that the deal is moving towards completion.

In a statement, the club said: "Manchester City can confirm that a Memorandum of Understanding has been signed between the Abu Dhabi United Group (ADUG) and Manchester City Football Club.

"A period of due diligence for all parties, including the FA Premier League has now been entered.

"A further statement will be released by the club in due course."

City executive chairman Garry Cook also told the Manchester Evening News: "It is no secret we have been seeking strategic partnerships for some time but at this stage we cannot say much more for legal reasons."
 

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I just heard these guys have 10 times more than Abrahmovic :eek:
Thats a disgusting amount of money.
And why today of all days? Berbatov was certainly coming to United till
these chumps piped up :rolleyes:
 
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