Abu Dhabi United Group buys Manchester City Premier League club

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Manchester City's owner-in-waiting Dr Sulaiman Al Fahim expects his Abu Dhabi United Group (ADUG) to be given the green light for their takeover of the Premier League club imminently.

Al Fahim has agreed to acquire a majority stake in City, subject to due diligence, from former Thai prime minister Thaksin Shinawatra, who will remain on the club's board as a shareholder and honorary president.
He confirmed that ADUG had also considered investing in Arsenal, Newcastle and Liverpool before pressing ahead with the City buy-out.
The new team has already made an impression in the transfer market by beating Chelsea to the signature of Brazilian forward Robinho from Real Madrid for a British record transfer fee of about $61.6 million.
Regarding the takeover, Al Fahim added: "It is really about formalities. It is more about securing approval from the authorities in England, such as the Premier League.
"I don't foresee any problems with the club itself. I need to check my diary and come over to England as soon as possible so I can meet people from the Premier League.
"We were attracted to the Premier League itself, and Arsenal, Newcastle and Liverpool were also possibilities.
"We are very happy to become the new owners of Manchester City, one of the oldest clubs in England."
The Premier League has to give the takeover the go-ahead and will carry out their standard fit and proper persons test of Al Fahim, a billionaire property developer.
Al Fahim will focus his efforts on putting together a new board at Eastlands, and he suggested that a former player, who enjoys a good rapport with the fans, could be appointed.
"We need to bring in several top board members over the next three or four months, and they will be able to help," he said.
"Thaksin Shinawatra will be a board member, and will still be a shareholder of the club.
"We also would like to bring in people who have a good knowledge of the English market, and maybe someone who the fans will appreciate. We have to be careful to bring in the right people."
Al Fahim said that he was unable to publicly reveal financial details of the takeover or the stake Shinawatra would retain in the club, but a statement released on Monday on behalf of ADUG said that the Thai would be "without any administrative responsibilities".

Mabrooooook Abu Dhabi, Hope they get them for playing here sometimes

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XDoha's picture

They bought the talented Brazilian Robiniho for 42$ million, and they fail to buy Nestle Roy from Real Madrid,,

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XDoha earned 101 points so far.
Thu, 04/09/2008 - 09:08

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