Premiership - Manchester City have accepted a £81.6 million takeover bid from former Thai Prime Minister Thaksin Shinawatra.

Thaksin's UK Sports Investments group confirmed to the Stock Exchange they had made an offer, one unanimously backed by City's board of directors.

They have recommeded shareholders to accept the proposal, which is subject to Thaksin passing the Premier League's fit and proper person test.

"I am delighted that the Board of Manchester City has recommended my bid for the Club and I look forward to continuing the excellent work of John Wardle and his team," said Thaksin.

"We share a determination to take the Club back to its rightful place at the highest level of competition in both the FA Premier League and European football."

Wardle added: "Following our significant progress over the last few years, this Offer provides an exciting opportunity to take Manchester City to the next stage of our development and deliver the on-field success we have all been striving for.

"I am delighted to have been asked to remain on the Board of the Club, together with Chief Executive Alistair Mackintosh, with whom I have enjoyed an excellent working relationship."

The move looks set to go ahead despite corruption charges being levelled against Thaksin in Thailand.

The telecoms tycoon is accused of wrongdoing in a purchase of land during his five years in office, before being ousted from power in a peaceful coup last September.

The Thai Supreme Court will decide on July 10 if they will hear the case.

Former England caoch Sven-Goran Eriksson is known to be Thaksin's first choice to manage the club, and the Swede is expected to be promised a £50 million transfer kitty to revamp the squad.

However, Eriksson's agent Athole Still denied on Wednesday the club have already been in contract talks with him.

City scored just 29 Premiership goals last season, the joint worst return of any side in the top flight. They have already lost key defender Sylvain Distin and midfielder Joey Barton this summer.

Alan Galley, chairman of the Manchester City Supporters Club, welcomed the Thaksin bid, told Sky Sports News: "The club's been drifting for a long, long time and we need to make progress.

"We've got nothing sorted out at the moment -- no pre-season, no nothing. Some of the players have left and there's nobody coming in... [but] we can see light at the end of the tunnel."

Galley was less sure about Eriksson's reception, saying: "He may not be a popular choice among the rank and file fans. It may be that he will have to get everything right first time."