Manchester City owner completes buy-out of club

23 September 2009 | By Adam Fraser

Contract summary

Length of contract: n/a
Annualised value: n/a
Overall value: US$30 million

The last hint of Thaksin Shinawatra's involvement in Manchester City has been erased, with the news that Sheikh Mansour bin Zayed al-Nahyan of the Abu Dhabi ruling family has bought the 10 per cent of Manchester City not previously under his control.

Though it was unclear what involvement former owner Shinawatra had in the shares, it has been widely reported that they were controlled in his interests by his long-term associate Jack Srisumrid, a Thai businessman, and the Greek shipping tycoon Victor Restis. Both men resigned as directors of the club last week. Mansour is now the sole owner of the club.

"As a result of the transaction, Manchester City is now 100 per cent owned by his highness Sheikh Mansour," said a statement for the club. The figure paid for the shares was not disclosed, but is believed to be in the region of US$30 million.

Thaksin, meanwhile, is still believed by many to be involved in Sulaiman Al-Fahim's takeover of Portsmouth, though all parties continue to deny the association.

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