Loading ...Aug 12 2008
Tkashin is Manchester City’s Anchor
I have been commenting less-and-less on the Premiership over the last week as I start to focus on my preseason previews (which will go up on American Soccer Reader over the next four days), but Tkashin Shinawatra’s weekend troubles transcend any editorial time line and threaten to send last season’s feel-good story into the Championship.
I was not high on Citeh’s chances for this season before Shinawatra failed to return to Thailand this weekend. Manchester City’s owner, who is now seeking asylum in England after missing a court date in his homeland (where he is to go on trial on corruption charges), has also been threatened by the Premier League, whose leaders have hinted they will not hesitate to evoke its “fit and proper persons” standard in removing Shinawatra from control. With his £1 billion in assets (which were bankrolling the club) frozen in Thailand, action by the Premier League would add an organizational turmoil to the financial chaos that’s eminent.
Come the January transfer window, Citeh could be in full sell-off mode, with transfer fees the only way to balance the books without Shinawatra’s bank account. Even before that happens, Citeh profiles as a team that will have trouble improving on ninth given improvements from Tottenham and Newcastle. Player-for-player, the club looks more Middlesbrough than Aston Villa. If there were forced to sell players like Stephen Ireland, the subject of rumors in the wake of this weekend’s news, they will look more Bolton than Everton.
Tkashin Shinawatra can’t sell the team and he has no assets with which to maintain it. He is an albatross. He will be the anchor around the neck of a team that may now threaten relegation. It was not so long ago the Blues were below the top flight. One season after taking six of six points from the eventual league champions (Manchester United), Citeh could be the saddest story of 2008-09.
That, of course, is the pessimistic view. City could be fine, be a mid-table club, and put all of this speculation behind them. But they were not that great of a club before this came up. It won’t take much to completely sink them.
Quotes
“As always, we will take advice from the Home Office and the Foreign Office. We are not experts in law in every country, so it is wise to speak with the people who are.” - Richard Scudamore, chief executive, Premier League
“Of course, if we feel the rule has been breached, we will invoke it.” - Scudamore
“It is quite a complex matter and can’t just make a judgement on the spot but clearly we have a club owner who has not yet been found guilty of any offence. However, it is an evolving situation and we will look at it.” - Scudamore
“Dr Thaksin will be making no statements in London while the judicial process remains active and he is not going to get involved in conversations about Manchester City.” - Manchester City
“What has happened to me and my family and my close relations has resulted from efforts to get rid of me from politics.” - Shinawatra, former Thailand prime minister
“These are my political enemies. They don’t care about the rule of law, facts or internationally recognised due process.” - Shinawatra
“City’s future is not in jeopardy.” - Garry Cook, executive chairman, Manchester City FC
“In the short term, it is business as usual. We don’t rely on Dr Thaksin’s money.” - Cook
“When Mark Hughes makes a decision we go through the normal process, which can include banks, finance, or a whole bunch of different things just like any other club.” - Cook
“We have to establish the status of his return to England and where that leaves him as regards to the legal process in Thailand.” - Scudamore
“I must apologise again for deciding to come to live in England. If I am fortunate enough I will return and die on Thai soil, just like other Thais.” - Shinawatra, statement to Thai courts
“It is not true to say Thaksin Shinawatra is selling Manchester City.” - Manchester City spokesman
“He spoke with Garry Cook this morning and those were the sentiments he echoed in very strong terms.” - Manchester City
“Until he can clear himself of all of the cases against him - there are three pending and the possibility of more - the chances are that money will remain frozen.” - Jonathan Head, BBC South East Asia Correspondent
“He could be tied up in court for many, many months and won’t be able to get his hands on that cash while that goes on.” - Head
“What we don’t know is how much money Shinawatra has outside Thailand. Some estimates say as much as £200m or £300m. We don’t really know how liquid he is at the moment and how much he needs that £800m unfrozen.” - Head
“The owner is looking for parties to come in and invest if they are the right people, and for the right areas of the business. But there is no intention to sell the club.” - Mark Hughes, manager, Manchester City
Links
League to decide City’s future
City concern as Thaksin misses court date
Tkashin may face FA investigation
Tkashin issue will not destablize City: club official
Cook plays down Tkashin fears
Tkashin committed to City vision
Shinawatra commited to City
Tkashin developments no danger to Man City’s future-Cook
Man City boss calms Tkashin fears
Tkashin vows to stay at Man City
Man City owner Tkashin ‘not selling’
Tkashin not selling Man City
Tkashin not selling - Man City
Tkashin not selling up
Hughes denies that Tkashin’s hand has been forced
Premier League monitor Tkashin situation
Tkashin’s fast exit compunds City’s on-pitch troubles
EPL monitoring Man City’s on-the-lamb Tkashin
League ready to submit Tkashin to second fit and proper test
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