[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 3 July 2007, 08:35 GMT 09:35 UK
Thaksin close to Man City buy-out
Thaksin Shinawatra
Thaksin Shinawatra was ousted from power in a coup last year
Thaksin Shinawatra could complete his Manchester City takeover and install Sven-Goran Eriksson as boss on Wednesday, BBC Sport understands.

City officials are hopeful the former Thailand prime minister will have the 75% share of the club he needs to take control within the next 24 hours.

Former England coach Eriksson will then formally sign the three-year contract he has already agreed in principle.

Thaksin has currently bought up a 65.78% share in the Premiership club.

Earlier in June, he lodged an 81.6m takeover bid for City through his company UK Sports Investments.

The Eastlands board has backed the bid but there have been concerns about the source of the money, with Thaksin facing corruption charges in Thailand.

But the man who brokered the City deal has said "the money is clean".

On Sunday, Keith Harris, executive chairman of Seymour Pierce Investment Bank, said the money had been "legitimately and transparently transferred to the UK".

Thaksin will have to pass the Premier League's standard "fit and proper person" test before being able to complete the proposed takeover.

Thai prosecutors recently filed corruption charges against Thaksin.

They have also frozen his assets but Thaksin insisted this would have no effect on his takeover of the club and that the charges were politically motivated by the junta that replaced him.

The new shares are believed to be from broadcaster Sky as they are the only major shareholder remaining after Thaksin received a 55.9% stake following pledges from board members and former chairman Francis Lee.

He is now getting nearer to the 75% ownership mark where he can de-list the company and take it into private ownership.

Man City Q&A
21 Jun 07 |  Man City
Thaksin money 'clean' says Harris
24 Jun 07 |  Man City
Thaksin confirms Eriksson meeting
21 Jun 07 |  Man City
Thaksin lodges bid for Man City
21 Jun 07 |  Business
Thai ex-PM accused of corruption
21 Jun 07 |  Asia-Pacific
Thailand freezes Thaksin's assets
11 Jun 07 |  Asia-Pacific


The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Americas Africa Europe Middle East South Asia Asia Pacific