Man City sale 'close to collapse'

His Thai bank accounts have been frozen by anti-corruption investigators and his overseas assets are under threat.

"He's in London having talks with his advisors who until now were satisfied that he had the funds," said BBC Five Live's Jonathan Legard.

"Clearly there exists serious doubts that he has the means to proceed."

Earlier in the day, Thaksin's lawyer Noppadon Pattama admitted the seizure of family bank accounts "could delay any investment" but claimed it would not affect plans to go through with the purchase.

But the BBC understands the City board had already braced themselves for bad news following the delays to the bid and may soon run out of patience.

Thaksin, 57, who was previously linked with a takeover of Liverpool, has spent much of his time in London since being ousted from power in a bloodless military coup last year.

He submitted a bid to buy Premiership side City last month and was then granted access to the club's accounts.

But the lack of any progress on the proposed deal has already led to the club missing out on former Chelsea boss Claudio Ranieri to fill their managerial vacancy.

He was tipped to take over from Stuart Pearce, who was sacked at the end of the 2006/7 campaign, but opted to join Serie A side Juventus instead.

Former City player Ray Ranson also expressed interest in buying the club but withdrew his offer at the end of May.

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