Arab group agrees Man City deal

 

Manchester City owner Thaksin Shinawatra has agreed to sell the club to a Middle East company.

 

Thaksin has signed a memorandum of understanding with Abu Dhabi United Group which would see the Arab company taking a majority stake in the club.

 

The deal would see Thaksin become honorary chairman of the club and retain a shareholding.

 

ADUG frontman Dr Sulaiman Al-Fahim has promised to turn City into a top-four club within three seasons.

 

Al-Fahim, who has made his fortune from property development, told BBC Sport: "I like to have a challenge and looked at Manchester City as a club where you can add a lot and make them into one of the top four clubs."

 

He also stated that the prospective new owners would back current manager Mark Hughes and add top players to City's squad.

 

"We will support him by bringing in the best players and it is his job to support them," Al-Fahim said.

 

"We really have deep pockets. By closing a deal with one of the players (on Monday) they can see we are serious in developing the club into one of the top four."

 

 

He added: "Our goal is to make this football club one of the best not just in England but also in the world. To reach that goal there is no limit.

 

"It is not about breaking records. It is about the players we need. I will not bring any players just for the fame. I will bring them if we need them."

 

ADUG claims the takeover deal was completed at the Abu Dhabi Emirates Palace Hotel on Sunday.

 

Dr Al-Fahim and Thaksin's adviser, Pairoj Piempongsant, were photographed posing with a City shirt and signing documents.

 

The ADUG statement claimed that the deal gave it "all management rights" over City, while Thaksin would become honorary president of the club "without any administrative responsibilities".

 

Dr Al-Fahim promised to "solve all the club problems" and "clear any pending payments" as well as "bringing the best football players in the world" to City.

 

The statement also said City would qualify for the Champions League in the 2009/10 season.

 

However, BBC Sport understands that ADUG has only signed a memorandum of understanding - essentially a gentleman's agreement - with City.

 

The Middle East company wants to completely buy out the club.

 

City added: "A period of due diligence for all parties, including the Football Association and Premier League has now been entered."

 

Former prime minister of Thailand Thaksin, who completed his takeover of City in July 2007, welcomed ADUG's involvement.

 

"I'm delighted to be building this new partnership with Abu Dhabi United, who share my vision for Manchester City to join the top tier of British football brands on an international stage," he said.

 

His ownership of the club has been constantly overshadowed by the problems he faces in his homeland.

 

A warrant was issued for his arrest last month after he failed to appear in court to face corruption charges.

 

His Thai assets, believed to be worth about £800m, have been frozen until the charges against him are resolved.

 

Former Man City chairman David Bernstein described the agreement as a "groundbreaking" moment for the club.

 

"I'm relieved as I've been concerned as to the direction of the club over the last 12 months," Bernstein told BBC Radio 5 Live.

 

"Many boards have fallen foul in the chase of Man Utd, but this is mega finance and maybe in a year we could be top five and chasing Champions League places."

Arabian might at Eastlands

 

By Simon Austin

 

Playing down expectations is clearly not part of the master plan for Manchester City's new Middle East owners.

 

As news of the deal was being digested, Abu Dhabi United Group (ADUG) was promising to make City "bigger than both Real Madrid and Manchester United" and planning January transfer moves for Cesc Fabregas and Cristiano Ronaldo.

 

So who exactly are City's new owners and can they turn their lofty ambitions into reality?

 

WHO IS THE FRONT MAN FOR ABU DHABI UNITED GROUP?

You have probably already seen the bearded face of Dr Sulaiman Al-Fahim and heard him promising to turn City into one of the biggest clubs in Europe.

 

 

Abu Dhabi United Group signed a deal to buy the club on Sunday

The US-educated Dr Sulaiman is the public face of ADUG and negotiated the deal with City's Thai owners.

 

Dr Sulaiman runs a successful property development company called Hydra Properties and is often described as the "Donald Trump of Abu Dhabi".

 

This description is due as much to his love of the limelight as his business acumen.

 

He has been photographed with Hollywood stars such as Demi Moore and Leonardo di Caprio and is even the star of the Adu Dhabi reality TV show "Hydra Executives", in which he plays the Simon Cowell role in finding the best budding property developer.

 

Amanda Staveley, who brokered the deal on behalf of current City owner Thaksin Shinawatra, is full of praise for Dr Sulaiman.

 

"He led negotiations and showed great determination and vision," she told BBC Sport. "He has pushed extremely hard to make sure this happened."

 

But although Dr Sulaiman is hugely independently wealthy, he is not the main man behind the extraordinary purchase of City.

 

 

SO WHO IS THE KEY FIGURE?

One of Thaksin's key aides, who was involved in negotiations with ADUG, told BBC Sport: "Although Dr Sulaiman is the face of the new owners, Sheikh Mansour is the main player."

 

Sheikh Mansour Bin Zayed Al Nahyan is a member of the royal family of Abu Dhabi, and his 19 brothers include the president and crown prince of the emirate.

 

He is married to Sheikha Manal bin Mohammed bin Rashid Al-Maktoum, daughter of Dubai's ruler Sheikh Mohammed bin Rashid Al-Maktoum.

 

The estimated wealth of the Al Nahyan family is an almost unimaginable $1 trillion (a thousand billion dollars) or more than £560bn.

 

Sheikh Mansour, a member of the federal cabinet in the United Arab Emirates and Minister of Presidential Affairs, is also politically influential.

 

And his love of sport has already led him to become chairman of Al Jazeera Football Club and the Emirates Horse Racing Authority.

 

 

HOW HAS SHEIKH MANSOUR MADE HIS MONEY?

The Abu Dhabi royal family's wealth comes from oil, which was discovered in the emirate in 1958.

 

Sheikh Mansour is chairman of First Gulf Bank and of the International Petroleum Investment Company.

 

With the oil price surging recently, his family's wealth has been increasing massively by the day. Every time the price of a barrel of oil rises by $1, it is estimated Abu Dhabi gains as much as $500m (£280m) a day.

 

 

HOW MUCH WILL CITY COST?

Staveley says the purchase price for the Premier League club is "around if not above" £200m.

 

She confirmed this would buy the Abu Dhabi Group a 90% stake in City, with Thaksin retaining 10%.

 

Anil Bhoyrul, who broke the story about the purchase for arabianbusiness.com, told BBC Sport: "£200m is nothing for the ADUG. Two days ago they announced a $60bn (£34bn) building project in Dubai."

 

 

WHY HAVE THEY CHOSEN TO BUY MAN CITY?

The senior City source said: "Sheikh Mansour wants to use City to help develop Abu Dhabi into the sporting capital of the Middle East."

 

There is intense rivalry to become the sports centre of the region, with Dubai, a smaller neighbour to Abu Dhabi, ahead in the race.

 

The International Cricket Council is based in Dubai, Tiger Woods' first golf course will be built there and its huge snow dome could host World Cup races.

 

Although Abu Dhabi is a stop for European Tour golf (like Dubai) and will be on Formula One's calendar next year, the ruling family is desperate to attract even more top-level sport.

 

This is part of a wider project to diversify the economy of the emirate and prepare it for the day when its oil reserves run out.

 

Cash is already siphoned off into sovereign wealth funds - government-controlled investment funds - to buy foreign assets. Recent purchases have included the Chrysler Building in New York and a 12% stake in Ferrari.

 

When the Arab investors decided they wanted to purchase a Premier League football club, Arsenal, Newcastle and Liverpool were also in their thoughts before they settled on City.

 

The Manchester club was the choice because Arsenal's major shareholders have collectively agreed not to sell to anybody in the near future, Newcastle were quoted at £400m and Liverpool were deemed poor value because of the need for a new stadium.

 

 

HOW DID THE DEAL COME ABOUT?

In July, Thaksin recruited Staveley, who runs a financial advisory company called PCP Capital Partners, to find fresh investors for the club.

 

Staveley said: "About three weeks ago an approach was made to Dr Thaksin (by ADUG).

 

"He had been receiving various approaches from other Gulf states and individuals who were keen to either acquire the club or go into partnership with him. His view was always to bring stability to the club and bring the best possible deal for the fans.

 

"Abu Dhabi have the right reputation in sport and a great track record of commercial sponsorship. He did not have to sell this club and he doesn't see it as selling out."

 

 

WHAT NOW?

So far, there is no legally-binding agreement between Thaksin and the ADUG.

 

A memorandum of understanding - basically a gentlemen's agreement - that a deal would take place was signed on Sunday. The deal will now be subject to about 10 days of due diligence, when ADUG will look at the City books.

 

Dr Sulaiman is already promising that City will become one of the major forces in European football.

 

We are going to be the biggest club in the world, bigger than both Real Madrid and Manchester United

 

Dr Sulaiman Al-Fahim

"Our goal is to make this football club one of the best not just in England but also in the world," he told BBC Sport.

 

They have already beaten Chelsea to the signature of Brazilian star Robinho, by paying a British-record £32.5m transfer fee to Real Madrid.

 

The deal was brokered by Thaksin's right-hand man, Pairoj Piempongsant, from Abu Dhabi, and came as something of a surprise to Mark Hughes. City's boss played golf until 1800 BST on Monday before attending a charity dinner.

 

The prospective owners are promising to make even more of an impact in the January transfer window.

 

Speaking to arabianbusiness.com, Dr Sulaiman revealed he had set his sights on Manchester United superstar Cristiano Ronaldo, Arsenal maestro Cesc Fabregas and Liverpool striker Fernando Torres.

 

"Ronaldo has said he wants to play for the biggest club in the world, so we will see in January if he is serious," said Dr Sulaiman.

 

"Real Madrid were estimating his value at $160m (£90m) but for a player like that, to actually get him, will cost a lot more, I would think $240m (£134m).

 

"But why not? We are going to be the biggest club in the world, bigger than both Real Madrid and Manchester United."

 

Man City beat Chelsea to Robinho

 

Manchester City have beaten Chelsea to the signing of Brazilian forward Robinho from Real Madrid for a British record transfer fee of about £32.5m.

 

Chelsea had been chasing the 24-year-old but City have captured him on a four-year deal with a late bid.

 

"I am absolutely delighted to get the opportunity to work with such an incredible talent like Robinho," City boss Mark Hughes told the club website.

 

"This is a real statement of intent as to the ambitions of this club."

 

After missing out on Robinho, Chelsea issued a statement saying they were unable to agree a deal with Real as they were not prepared to pay the Spanish club's asking price.

 

City made the audacious attempt to sign Robinho on transfer deadline day after earlier agreeing to a takeover by the Abu Dhabi United Group.

 

Hughes added: "I have said that in order to compete with the best teams in the Premier League we have to be in the market for players of this calibre, and Robinho is undoubtedly one of the best players in the world.

 

Real Madid president Ramon Calderon said Robinho, who called a news conference on Sunday stating again his desire to leave the Bernabeu club, had broken down in tears as he pleaded for a move.

 

Robinho appears to have been unhappy with Real and their willingness to sell him to fund a failed move to sign Cristiano Ronaldo from Manchester United.

 

"We have sold Robinho for reasons of a human nature and for sporting reasons," Calderon told Spanish television station Veo.

 

"The fact that he has accepted an offer from Manchester City says that he is not going for sporting reasons.

 

"It's an important sum of money. It's not the objective of Real Madrid to sell players, neither do we need the money, but for reasons of human and sporting nature, it has been decided this is for the best.

 

"It's a decision agreed by all the coaching staff, who understand it is best for the player and for the club.

 

"(Coach Bernd) Schuster thought until yesterday that he could recover the player, but that has not been the case.

 

"Every time I have spoken with him he was very sad, crying and asking to leave Spain. Real Madrid are more important than any one player.

 

"He's a great kid, but badly advised."

 

Chelsea had been favourites to sign Robinho but Real apparently refused to sanction a switch for him to join them as they were upset at the Stamford Bridge club's conduct in the matter.

 

Robinho could now make his debut for City in their next league game, which is ironically against Chelsea on 13 September.

 

He joins up with fellow Brazilian Jo at City after he moved to the club from CSKA Moscow.

 

Robinho is a regular in the Brazil side and helped Santos win their first league title as an 18-year-old in 2002.

 

He drew comparisons with Brazilian legend Pele and joined Real from Santos in August 2005 after pressing for a move.

 

Robinho struggled in his first season but won the Spanish title under coach Fabio Capello in 2007.

 

A player with pace and trickery, he came into his own last season when he scored 11 goals in 32 outings to help Real to a second successive La Liga crown.

 

He was also top scorer with six goals when Brazil won the 2007 Copa America.

Edited September 2, 200816 yr by Sunnyz

RIP football.

 

This really is the beginning of the end for sensible football.

RIP football.

 

This really is the beginning of the end for sensible football.

 

Agreed. I know loads of people see it as a good thing, but I doubt in 2 years time they'll be seeing it as a good thing. Man City are basically owned by a country now - they've got silly amounts to spend. Great for splitting up the Top 4 for the moment, but all it'll do is create the gap even bigger, especially if Liverpool get taken over by DIC.

...... especially if Liverpool get taken over by DIC.

 

Which on Radio 5 Live tonight according to inside information from "more than a couple of very reliable sources" is "nearer than you think".

 

RIP Football.

Which on Radio 5 Live tonight according to inside information from "more than a couple of very reliable sources" is "nearer than you think".

 

RIP Football.

 

Yeah, all the ITKs on the forums are saying it's true too and both of them are willing to sell now as they're not gonna be making any money. If DIC takes over Liverpool then it's gonna become stupid. Both clubs will be owned by countries pretty much, and instead of club vs club, it'll be more like country vs country. As much as it's good for the clubs, for football in general it's $h!t.

Yeah, all the ITKs on the forums are saying it's true too and both of them are willing to sell now as they're not gonna be making any money. If DIC takes over Liverpool then it's gonna become stupid. Both clubs will be owned by countries pretty much, and instead of club vs club, it'll be more like country vs country. As much as it's good for the clubs, for football in general it's $h!t.

 

Taking my Liverpool FC supporters shirt off, I agree it will be a disaster for English football, competition and most importantly the England national team.

Surely it's about something is done about this now as it's just getting pathetic! FIFA needs to bring in rules to stop this from getting anymore out of hand! :( Transfer and wage restrictions for a start and maybe something similar to the 6+5 rule.

 

Don't let football go down this road, Blatter and Plattini COULD actually do something positive here but I'm not holding my breath.

Surely it's about something is done about this now as it's just getting pathetic! FIFA needs to bring in rules to stop this from getting anymore out of hand! :( Transfer and wage restrictions for a start and maybe something similar to the 6+5 rule.

 

Don't let football go down this road, Blatter and Plattini COULD actually do something positive here but I'm not holding my breath.

 

I think it's gone too far now personally. There's no way FIFA, UEFA, the FA or anyone can block any rich foreigners from buying clubs, because there's already owners in charge. Premier League football is going down a bad bad road. Man City are just gonna be like Chelsea were a few years ago - they decide to pick off all of the smaller teams best players, especially British talent i'm thinking. Football's not a sport anymore, it's a business. As much as it's good for PL football and stuff, the reality is we've got a cry-baby of a player playing football in our league for 6 million euros a year. Absolutely ludacris really.

 

Just read this interview,

 

http://uk.eurosport.yahoo.com/02092008/58/premier-league-ronaldo-next-ambitious-city.html

 

Dr Sulaiman Al-Fahim, the owner-elect of Manchester City, will make a record breaking bid for Cristiano Ronaldo in January.

 

Al-Fahim and the Abu Dhabi United Group (ADUG) are plotting to follow up the sensational capture of Robinho on transfer deadline day with the signing of Manchester United's prize asset once the transfer window re-opens next year.

 

"Ronaldo has said he wants to play for the biggest club in the world, so we will see in January if he is serious," Al-Fahim told Arabian Business magazine.

 

"Real Madrid were estimating his value at $160 million but for a player like that, to actually get him, will cost a lot more, I would think $240 million (£134.3m).

 

"But why not? We are going to be the biggest club in the world, bigger than both Real Madrid and Manchester United."

 

During the interview, conducted moments after ADUG and City signed a Memorandum of Understanding for the change of ownership, Al-Fahim also outlined his ambition to bring Liverpool's Fernando Torres and Arsenal's Cesc Fabregas to Eastlands.

 

He added: "We're not just going to spend money on anyone, but if we can get the biggest players in the world, and of course if the manager wants them, then we will get them."

 

Al-Fahim expects his group's takeover of City to have the same impact as Roman Abramovich's buy-out of Chelsea five years ago.

 

Chelsea have won the Premier League title twice, lifted the FA Cup once and reached the final of the UEFA Champions League since Russian Abramovich burst onto the scene at Stamford Bridge in 2003.

 

City have not won a trophy since picking up the League Cup in 1976, but Al-Fahim believes the funds available to manager Mark Hughes should ensure the wait for silverware will soon come to an end.

 

Asked how ADUG's takeover of City would compare with Abramovich's Chelsea buy-out, Al-Fahim told PA Sport: "I think it will be the same. We would like to see Manchester City fighting for trophies in every tournament.

 

"We don't just want Manchester City to be challenging for trophies in England, but also in the Champions League. We want them to be in for every trophy available."

 

City, who finished ninth in the Premier League last season, will take a potential glimpse into the future when they face Chelsea in their next league clash at Eastlands a week on Sunday.

 

And they will do so with Robinho in their ranks after the Brazilian's move to Eastlands in a British record deal.

 

The 24-year-old had been expected to move to Chelsea but the Blues refused to meet the 40 million euro asking price.

 

Al-Fahim will try to attend that game, and he is keen to travel to England to hold talks with the club and the Premier League in the coming days so the details of the transaction can be clarified and ironed out.

 

In a statement released yesterday, ADUG said the aim would be for City to compete in the Champions League in the 2009-10 campaign - a feat that would require a top-four finish this season.

 

However, although the club have started the season in promising form and currently sit third in the table after three games, Al-Fahim appeared to acknowledge the real hunt for trophies would begin next season.

 

"A place in the Champions League is quite a jump from last season, but we are ready to sit down with the manager, find out the players he would like, and bring the right players into the club," Al-Fahim added.

 

"This season we would like to be a lot better than last season, and we are eager for trophies next season."

 

Al-Fahim is also keen to explore possible new revenue streams for the club, ensuring City will not have to solely rely on the funds made available by ADUG.

 

"Our message to the fans would be we promise we are here to sustain the club and make Manchester City competitive for trophies at the highest level," said Al-Fahim.

 

"We would also like to bring in extra revenues by introducing new marketing ideas.

 

"Looking at the club, they have a lot of fans, they are loyal fans, and there is the opportunity to grow there. They also have a lot of history. It was all very attractive to us.

 

"I think the one thing that has been missing was the right person to provide the right investment."

 

Al-Fahim said that he plans to meet Hughes and talk over future transfer targets.

 

"I will come to the UK in a few days to meet the manager Mark (Hughes)," he said.

 

"We will sit down with him and see what it is he needs now."

 

Confirming that the bid to sign Bulgarian striker Dimitar Berbatov from Tottenham ahead of city rivals United was a serious one, he added: "That was genuine. It was very close but we couldn't get him, we were unlucky."

 

Of the takeover he said: "It might take a month, it depends on the final approval of the authorities."

 

There was an interview with this guy too, and he was saying that they'd be challenging for the title very soon, then the interviewer responded "yeah maybe in 5 years or so" and then the guy just laughed in his face. Now I seriously doubt that Man City will buy Ronaldo, Fabregas or Torres (they'll but bids in though) but it outlines their intentions. I don't see how anyone can think this is good for football. It's just ruining it.

this is worse than chelsea

because it's happening in manchester grrr

Didn't everyone have this 'RIP football' reaction though when Chelsea got took over though? I reckon once Man City start spending more money it will be the Big three of Man united, Man city and Chelsea and Arsenal and Liverpool will struggle to keep up.

Chelsea though seemed to have some sense of a limit with transfers though. Man City are talking about spending 540 million and buying 18 players worth 30 million each which is just stupid.

Didn't everyone have this 'RIP football' reaction though when Chelsea got took over though? I reckon once Man City start spending more money it will be the Big three of Man united, Man city and Chelsea and Arsenal and Liverpool will struggle to keep up.

 

This is on a much worse scale though. They've been at the club a matter of days and they're already talking up about making bids to players that aren't even their players! Is an absolute disgrace. The owners want all these players and want Man City to be successful, so that it can bring more attention to their country, that's the only reason they're interested in the club. It makes a mockery of football in what they're talking about bidding for Ronaldo... it's discusting infact. The world record at the moment is for Zidane, and Ronaldo isn't even HALF they player Zidane was and they're talking about smashing the world record by treble what it already is... wtf? has the world gone crazy? Obviously it has.

 

If DIC get Liverpool it'll only be the same too, albeit on a much smaller level.