English soccer club Manchester City is on the verge of an $160m takeover by the former Prime Minister of Thailand.
After weeks of speculation Thaksin Shinawatra has lodged an official bid to take over the club which has for so long lived in the shadow of its city neighbour – Manchester United.
Shinawatra, currently facing corruptions charges in Thailand, has the support of the City board. The former Prime Minister is pursuing the bid through his UK Sports Investments vehicle.
Officials in Thailand have also frozen his assets, although he insists it will have no impact on his takeover plans.
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