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Abu Dhabi group "buy" Manchester City

Discussion in 'Sports' started by Kibunango, Sep 1, 2008.

  1. Kibunango

    Kibunango JF-Expert Member

    Sep 1, 2008
    Joined: Aug 29, 2006
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    Eurosport - Mon, 01 Sep 11:06:00 2008

    An Abu Dhabi business consortium have bought Manchester City from former Thai Prime Minister Thaksin Shinawatra, according to an Arabian Business website.

    The Abu Dhabi United Group for Development and Investment struck a deal on Sunday with Shinawatra, who will stay on as honorary president of City.

    A representative for the group, Dr Sulaiman Al Fahim, immediately set the ambitious goal of qualifying for the Champions League this season.

    "We will release details later, but this is a great event for both the club and Abu Dhabi," he said.

    "Our goal is very simple - to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season."

    The group is thought to have bought the club outright and written off any existing debts.

    City have spent lavishly this summer, signing Jo, Shaun Wright-Phillips, Vincent Kompany and Tal Ben Haim in big money deals.

    Shinawatra has been looking for new investment in the club, despite taking charge just over 12 months ago.

    He has helped bankroll a number of big-money transfers but, with his assets currently frozen as he awaits trial in Thailand, doubts have been cast over his long-term future at the club.