City play down Thai takeover bid claims

Updated 12.14 Sat May 19 2007

Keywords: Manchester City, Premier League, football, sport, Thaksin Shinawatra

Manchester City officials are insisting that they remain in talks with 'a number' of different parties over a potential buyout.

Thaksin Shinawatra's lawyer, however, has claimed that the former Thai Prime Minister has made a formal bid to take over the City of Manchester club.

Thaksin Shinawatra's lawyer, however, has claimed that the former Thai Prime Minister has made a formal bid to take over Manchester City

Noppadon Pattama said: "What I can say now is we have tendered a bid for the team. We had to be silent because we had to follow the stock regulations as we are trying to buy a listed company.

Thaksin is reportedly ready to pay around £100 million for the club, but his lawyer would not confirm any figures, adding: "The deal is not formally or legally concluded yet."

Although talks between Thaksin and City are at an advanced stage - he was shown around the club's Carrington training complex on Monday - there has been no bid as yet.

Any offer would have to be lodged with the London Stock Exchange, although with due diligence almost complete Thaksin is expected to make a move in the next few days.

It is believed telecoms tycoon Thaksin wants former Chelsea boss Claudio Ranieri to succeed Stuart Pearce, who was sacked as manager earlier this week.