Ousted Thai PM in bid for Man City

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LONDON, England -- Thailand's ousted prime minister Thaksin Shinawatra launched a formal takeover bid for English Premier League club Manchester City on Thursday.

City's board are recommending that the 81.6 million pounds ($162.5 million) bid, lodged by Thaksin's takeover vehicle, UK Sports Investments, be accepted.

The board's acceptance of his offer and with it their near 56 per cent share of the company gives Thaksin effective control of Manchester City.

Earlier on Thursday, Thaksin, who was deposed last September, had formal charges of corruption filed against him and his wife Pojaman by the Thailand Supreme Court.The case centers on allegations of wrongdoing in a land deal.

Thai authorities have already frozen $1.5B of Thakin's assets, but last week his lawyer Noppadon Pattama said that the former premier still had enough money to buy City.

"I am delighted that the board of Manchester City has recommended my bid for the club, " Thaksin said in a joint statement with the club released on Thursday.

"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."

The formal offer comes after weeks of speculation and will see City chairman John Wardle remain on the board if Thaksin takes control while Alistair Mackintosh will stay as chief executive.

"Significant progress"

Wardle said: "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."

It is not the first time Thaksin has been associated with a Premier League club, having been linked with a deal to take control of Merseyside giants Liverpool while still in charge of his football-mad country.

But before the City takeover is completed, Thaksin may have to face a 'fit and proper person' test.

Premier League spokesman Dan Johnson told BBC Radio Five Live: "We have a fit and proper person test which is based on objective criteria, there is a schedule of offences which does also reflect any offences that someone has been prosecuted for overseas as well.

"It is a tricky one because he hasn't been prosecuted of anything yet, and also we are a football competition.

"We sit in a hierarchy of regulation and if the DTI (Department of Trade and Industry), the Government, say this guy is okay to come in and purchase UK companies then that is really where we've got to be starting."

If Thaksin's bid is cleared, one of the first tasks of the new City regime will be to find a replacement for sacked manager Stuart Pearce.

Former England manager Sven-Goran Eriksson has been linked with the job, but on Wednesday his agent denied there had been a formal approach.

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