MANCHESTER CITY NOW HAS NEW OWNERS "ARABIAN INVESTMENT GROUP" [KRAZILY INSANE]
Krazily Insane said
11:16 09/01 2008
MANCHESTER CITY have hit the jackpot today after being taken over by an Arabian investment group.
The Abu Dhabi United Group for Development and Investment (ABUG) have moved in at Eastlands.
A £200million deal was agreed last night between the former owner Thaksin Shinawatra and ADUG.
The new owners will be represented on the board by Hydra Properties chief executive Dr Sulaiman Al Fahim.
And he has already told boss Mark Hughes that big things are now expected in the blue half of Manchester.
Al Fahim said: We will release details later but this is a great event for both the club and Abu Dhabi.
"Our goal is very simple to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season.
We will adopt marketing plans that reflect positively on the club and the company from investments in all sectors of television marketing and purchasing of the star players, as well as development of infrastructure facilities at the club.
A City statement added: Manchester City can confirm that a Memorandum of Understanding has been signed between the Abu Dhabi United Group (ADUG) and Manchester City Football Club.
A period of due diligence for all parties, including the FA Premier League has now been entered. A further statement will be released by the club in due course.
City's future under former Thailand prime minister Shinawatra, who will stay on as honorary president, appeared uncertain as he struggling to stump to cash.
But Al Fahim claims the new owners will clear any of the club's debts as well as bringing in top talent.
Shinawatra had big plans for the Blues when he took over 14 months ago but his hopes have been dashed amid legal wrangling in his own country with millions of his investments frozen.
The situation worsened further still recently when his wife Pojaman was sentenced to three years in prison on a variety of corruption charges, although she has since been released on bail.
Shinawatra himself is facing similar charges but flew to England last month on the day he was due to make a court appearance in Thailand.
He and his wife were due to return to their homeland in time to answer court in a separate property case.
Shinawatra, who has always insisted the charges are politically motivated, said that they planned to stay in England where democracy is more important.
MANCHESTER CITY have hit the jackpot today after being taken over by an Arabian investment group.
The Abu Dhabi United Group for Development and Investment (ABUG) have moved in at Eastlands.
A £200million deal was agreed last night between the former owner Thaksin Shinawatra and ADUG.
The new owners will be represented on the board by Hydra Properties chief executive Dr Sulaiman Al Fahim.
And he has already told boss Mark Hughes that big things are now expected in the blue half of Manchester.
Al Fahim said: We will release details later but this is a great event for both the club and Abu Dhabi.
"Our goal is very simple to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season.
We will adopt marketing plans that reflect positively on the club and the company from investments in all sectors of television marketing and purchasing of the star players, as well as development of infrastructure facilities at the club.
A City statement added: Manchester City can confirm that a Memorandum of Understanding has been signed between the Abu Dhabi United Group (ADUG) and Manchester City Football Club.
A period of due diligence for all parties, including the FA Premier League has now been entered. A further statement will be released by the club in due course.
City's future under former Thailand prime minister Shinawatra, who will stay on as honorary president, appeared uncertain as he struggling to stump to cash.
But Al Fahim claims the new owners will clear any of the club's debts as well as bringing in top talent.
Shinawatra had big plans for the Blues when he took over 14 months ago but his hopes have been dashed amid legal wrangling in his own country with millions of his investments frozen.
The situation worsened further still recently when his wife Pojaman was sentenced to three years in prison on a variety of corruption charges, although she has since been released on bail.
Shinawatra himself is facing similar charges but flew to England last month on the day he was due to make a court appearance in Thailand.
He and his wife were due to return to their homeland in time to answer court in a separate property case.
Shinawatra, who has always insisted the charges are politically motivated, said that they planned to stay in England where democracy is more important.