City cool Shinawatra rumours

06 August 2008 03:24
Manchester City have moved quickly to refute reports suggesting owner Thaksin Shinawatra is looking to sell the club. However, the Premier League side have admitted that the former Thai prime minister has had "exploratory" discussions with possible investors. "It isn't true to say Thaksin Shinawatra is selling Manchester City," said a club spokesman. "He spoke with (executive chairman) Garry Cook this morning and those were the sentiments he echoed in very strong terms." It has been reported that at least three groups in the Middle East and India have been approached by an intermediary to pump money in to the club. Shinawatra is currently facing corruption charges in his homeland and still has £800m of his assets frozen. A club source was reported in the Manchester Evening News as saying: "Nothing surprises me anymore. "The issue is frozen money and whether any of it can be used on team rebuilding. Not many of the deals that have happened over the last 12 months involve British players because those fees have to be paid within a year."

Source: ESA