Premier League - Abu Dhabi group to buy City

Eurosport - Tue, 02 Sep 07:26:00 2008

Prospective Manchester City owner Dr Sulaiman Al-Fahim believes only "formalities" remain before Abu Dhabi United Group can rubber-stamp their takeover of the Premier League club.

City of Manchester Stadium - 0

Al-Farim's group has agreed to acquire a majority stake in City, subject to due diligence, from Thaksin Shinawatra, who will remain on the club's board as a shareholder and honorary president.

Al-Farim confirmed that ADUG had also considered investing in City's Premier League rivals Arsenal, Newcastle and Liverpool before deciding to press ahead with a buy-out - thought to be worth around £150million - of the Eastlands outfit.

"It is really about formalities," Al-Farim, referring to the due diligence process, said.

"It is more about securing approval from the authorities in England, such as the Premier League.

"I don't foresee any problems with the club itself. I need to check my diary and come over to England as soon as possible so I can meet people from the Premier League.

"We were attracted to the Premier League itself, and Arsenal, Newcastle and Liverpool were also possibilities.

"We are very happy to become the new owners of Manchester City, one of the oldest clubs in England."

The Premier League has to give the takeover the go-ahead, and will carry out their standard fit and proper persons test of Al-Farim, who is a billionaire property developer.

Al-Farim will focus his efforts on putting together a new board at Eastlands, and he suggested that a former player, who enjoys a good rapport with the fans, could be appointed.

"We need to bring in several top board members over the next three or four months, and they will be able to help," he added.

"Thaksin Shinawatra will be a board member, and will still be a shareholder of the club.

"We also would like to bring in people who have a good knowledge of the English market, and maybe someone who the fans will appreciate. We have to be careful to bring in the right people."

Al-Farim said that he was unable to publicly reveal financial details of the takeover or the stake Shinawatra would retain in the club.

A statement released earlier in the day on behalf of ADUG said that Shinawatra would be "without any administrative responsibilities".

On Monday afternoon, the club stated that a "Memorandum of Understanding" had been signed with ADUG.

The statement from the club added: "A period of due diligence for all parties, including the FA Premier League has now been entered."

Thaksin has welcomed the investment and revealed his hope for "great things" from the new alliance.

"I am delighted to be building this new partnership with Abu Dhabi United, who share my vision for Manchester City to join the top tier of British football brands on an international stage," he said.

"With Mark Hughes at the helm and and some strong player signings the Club is very well positioned for this season and beyond.

"I look forward to this new partnership delivering great things for Manchester City fans."

Sporting Life / Eurosport

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  1. city or the blues have owned the record of the largest support network of any soccer team in england. the dubai group just need a couple of dough before they discard the blues back to there misery. like abramovich, they should watch out spending any money on men who wear blue. best of luck with the new purchasers. i heard salaries would be paid in dinars or dirhams. hahah

    From compaturist, on Tue 2 Sep 2:29PM

  2. At last after all these years City can compete in the transfer market with any other club. City have had too many dark days, now lets see good times come to the club and all the loyal supporters who have been there when times were hard. AL-FAHIM says he's keeping MARK HUGHES, let's hope so !! In Hughes, City have a young manager who knows the premiership and the type of player needed to bring success. Is this the start of something BIG. Let's hope so !!!

    From steveshawsteveshaw, on Tue 2 Sep 1:50PM

  3. city were in div 2 in 99 so dont start all the not fair on small clubs @#$%

    From BallsDeep, on Tue 2 Sep 12:57PM

  4. Kevin Bllod is right, it would be good to see more of the Premier League riches going to the lower league teams to make them all more viable - maybe a small slice of the football rights for the PL, say 5-10%, could be made available to the lower leagues and help them invest in their own up and coming young players. Personally I think the extra money coming into the PL and with it the foreign players is a good thing - if the talent was there among English players they would be in the PL teams in large numbers, but they don't. Until that changes you will continue to see many more foreign players in the league which without doubt makes it the best, most competitive, rich and exciting league in the world - foreign players and big money brings a dimension to English football which most others cannot match.

    From jacksoncb@..., on Tue 2 Sep 12:24PM

  5. hahaha tapsytaps talks absolute rubbish! does he realise what dic is! they are owned by one of the richest people on earth shiek mohammed! does he also know that he spends $10 million all the time on RACE HORSES! just imagine what he would spend on players! mohammed is the most important man in the UAE! some people eh!!!

    From knottjon, on Tue 2 Sep 11:04AM

  6. English Football just got better! If you a Man Utd, Arsenal, Chelsea or Liverpool fan.... well you just got another oposition to be worried about! Yeh with the financial backing anything is possible. If you dont spend it like Chelsea of course you could be challenging in two years time for the title! Money makes the football world go round!

    From faraazmia, on Tue 2 Sep 9:35AM

  7. Another club gone to the billoinaires. More foriegn players playing in the english league.I believe the time has come to restrict the number of non english nationals to five a team the other six having to be english.who knows we might start to bring up some talented english players and have a national squad again.Instead we moan that our english team is not good enough.You can not have it both ways

    From David B, on Tue 2 Sep 9:33AM

  8. I am an Arsenal fan and it's really good to see that another club is going to challenge the top four. With that takeover, Mark Hughes' warchest would almost beat the amount of cash given by Abramovich to Scolari in Chelsea. Let's see if they can try to beat the top four with their new signings plus their other prospective transfer targets. I hope that they will not imitate Tottenham's reputation as being a serious challenger to the top four (especially their rivals Arsenal) and yet be a big disappointment in the season despite the big name signings.

    From RV Culalic, on Tue 2 Sep 6:37AM

  9. will cuty fans feel the same when the the club moves to uae ???

    From jul, on Tue 2 Sep 4:13AM

  10. As a United fan, I'd just like to say Congrats to the blue half of the City; now we have the BEST and RICHEST clubs in the world; can only be good for football in Manchester. I hope City can finish second (to United).

    From optimus prime, on Tue 2 Sep 3:19AM

  11. blue mooooooooooooooooooooooooon come on city at last a chance the club deserves proud and from manchester

    From mojitodelmedio, on Tue 2 Sep 2:11AM

  12. english football is in danger

    From patrickluva, on Tue 2 Sep 2:06AM

  13. Richest club in the world!!!!!!!!

    From BallsDeep, on Tue 2 Sep 2:02AM

  14. delighted.40years a city fan,been to maine rd and eastlands,but this turn of events make us one, if not the richest club in the world,am so happy for the club and most importantly the supporters who even without what happen today are the best in the world.lets get right behind mark and the new owner's but let them know what this great club means to us.bluemoon.

    From bluemoon, on Tue 2 Sep 1:54AM

  15. HAHA UNITED

    From KYLE, on Tue 2 Sep 1:23AM

  16. more foreign money in the prem.very bad news for english game.the prem has sold its soul.any1 care about lower leagues any more.see examples of luton,rotherham,bournemouth getting hammered 4 being skint .not good.the 12million loss chelsea made on swp would make a massive difference,to chelski it means nothing

    From kevinblood@..., on Tue 2 Sep 12:30AM

  17. "jaykin"..Where did you TASTE, RONALDO's Grease Chummy?? "Annal-wise"??"Oral-wise" ??..
    ""BOTH"..?? AND..Go On..How Often..you LOVE IT??

    From Dean_ManU, on Tue 2 Sep 12:13AM

  18. "jaykin"..Where did you TASTE, RONALDO's Grease Chummy?? "Annal-wise"??"Oral-wise" ??..
    ""BOTH"..?? AND..Go On..How Often..you LOVE IT??

    From Dean_ManU, on Tue 2 Sep 12:12AM

  19. Re: KvBrock82 (No52) - How is stage 1 going in your view at the moment?

    From skylining08, on Mon 1 Sep 11:50PM

  20. turn your tele,s on @#$%s demi will wear the number nine shirt for utd not city. what a bunch of dead heads

    From kearn42@..., on Mon 1 Sep 11:37PM
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