Manchester City purchased by Middle Eastern consortium

Posted on Monday, September 1st, 2008 at 5:52 pm and is filed under News.

Manchester City is on the verge of being sold to a consortium of middle-eastern businessmen.

The club is set to change hands from former Thai prime minister Thaksin Shinawatra to the Abu Dhabi United Group for Development and Investment.

The Abu Dhabi United Group for Development and Investment is the second middle eastern business group to show interest in purchasing a Premiership club, with the Abu Dhabi based Dubai International Capital reportedly trying to buy out majority shareholders in Liverpool.

According to a Manchester City spokesman, the deal between Shinawatra and the Abu Dhabi United Group for Development and Investment has already been made, subject to the ratification of a memorandum of understanding.

A period of due diligence for all parties, including the FA Premier League has now been entered,” Manchester City announced on their website.

According to club insiders the new owners are expected to be hard taskmasters, and Manchester City coach Mark Hughes will be expected to break through into the top tier of the Premiership, whilst also securing a place in next season Champions League.