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Pattaya Daily News

17 May 2007 :: 09:05:07 am 7300


BANGKOK, May 16 - The Bank of Thailand (BoT) has not as yet been asked by former prime minister Thaksin Shinawatra to release six billion baht in cash in his possession out of Thailand to buy an English Premier League football club, Manchester City, according to a senior bank official.
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Suchart Sakkankosone, director of the central bank’s exchange control and credits department said there had been no requests for money transfers by Mr. Thaksin or his family at present. The BoT official added that the matter may be considered a normal business investment and that the funds, if requested, may be legally allowed to go overseas.

Mr. Suchart said he could not comment further, even if requests for such money transfers had been filed with the central bank. Nevertheless, the Bank of Thailand would certainly take such possibilities into account under existing rules and regulations, as well as consider the truthful purposes of such a huge money transfer, he added.

Under BoT rules, an individual may transfer a maximum of US$500,000, while a corporate entity may transfer a maximum of US$10 million out of the country in one year. Over US$800 million had been transferred out of Thailand last year, Mr. Suchart disclosed. According to an English tabloid newspaper, The Sun, Mr. Thaksin, who has remained in self-exile and currently stays in London following last year’s military coup, planned to buy Manchester City soccer club for 108 million British pounds (US$215 million).

In 2004, Mr. Thaksin had fruitlessly attempted to buy a 30 per cent stake in the Liverpool soccer club which was eventually purchased by an American firm instead.

Man City have mystery foreign boss lined up

Manchester City have settled on naming a foreign coach currently tied to another club as Stuart Pearce’s replacement.

The Independent says it is understood the foreign coach has not yet finished his own domestic season and wants to wait until his league is over before breaking the news.

Thaksin Shinawatra, the former Thailand prime minister, and his advisers have taken control of the appointment process along with Keith Harris, the football-finance expert. Thaksin’s £130m takeover of the club is regarded as inevitable and even the current City administration is being kept in the dark as to who the manager will be.

The reason for the delay rules out the possibility of City going for a Dutch coach, such as Louis van Gaal or Ronald Koeman, because the domestic season in the Netherlands has already finished. However, the league programmes in Spain, France, Italy and Germany are still not completed, which means Gerard Houllier and Claudio Ranieri could be realistic targets. The manager in question has been described as “one of the best available” by sources close to the prospective owners

Reporter : Methawee   Photo : Internet   Category : Sports News

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