Reaction To Recent Takeover Developments
The news over the last 24 hours that Thaksin Shinawatra has been charged in his home country on five counts of corruption, and had financial assets in Thailand frozen, indicates that the proposed takeover is now in jeopardy of failing. We understand that the deal has just a 50/50 chance of going ahead and that decisions will be made in the next 24 hours with Shinawatra still trying to obtain the full financing.
When Manchester City announced on 7 December 2006 that the board were in talks with potential investors, little did anyone realise that six months on the outcome would look like failure from a single bidder. This is hugely disappointing for all concerned, not least the fans and individual shareholders who believed we would be able to attract investment as a number of other premiership clubs have done.
Obviously until an announcement by either Shinawatra to go ahead with his bid, or the Manchester City board to withdraw from negotiations, there is no clear picture as to what the next steps will be. Either way, Manchester City needs to press on with appointing a manager and addressing the immediate matters of squad building and the season ahead.
We strongly believe that success on and off the pitch requires our Club, the shareholders, the community and most importantly the supporters to pull together as one. The Manchester City Supporters Trust will actively support any investor who shares those views and wants to play their part in a successful all inclusive long term partnership.
The Manchester City Supporters Trust must make it very clear that it does not support any current or past bidder for Manchester City Plc. When, or if, a formal bid is made, is the time to assess the suitability of a bidder and their long term plans for our Club.
Whatever may happen we continue to strongly believe and encourage shareholders and supporters, who want to play an active and positive part in the future of our Club, to stand up and be counted. Participating does not have to be via the Supporters Trust, it can be via the magnificent supporters clubs or other worthy supporters groups. The most important thing to remember, is that the key to future success lies in the hands of the supporters and shareholders and their active/ positive participation.
posted by Manchester City Supporters' Trust @ 9:57 pm
6 comments
"YOUR CITY. YOUR TRUST."
6 Comments:
If Shiniwatra has the finance, I pray that City reach an agreement (monies can pass much later) which will enablethem to get te manager we need.
Agree very much about the need for supporters to come to the rescue of the club.
It's us against the World. like it was in div 2.
Whatever happens, I will be at COMS next season
I'm not a Man City fan, but it strikes me that it is imperative that the Board seizes the initiative and appoints a high calibre manager within the next week or so.
This is regardless of the eventual outcome of the Thai takeover bid. If the bid is succesful, the club will have a top class manager already installed for the new season and additional money for him to spend.
If the Thai bid collapses, then the club is far more likely to attract other investors if they already have a quality manager in place.
If the Board fails to act promptly now and doesn;t appont a quality manager, then the likelihood is that Man City will have a poor start to the season. That will make them a far less attractive proposition for other investors in the future and drastically reduce any bid that might be forthcoming.
The Board have a duty to the long suffering fans of the club to act decisively and positively.
Good luck to you Man City fans for the forthcoming season, you deserve it.
We are standing on the outside looking in, conflicting reports are everywhere.
The board have played a poor hand so far perhaps restricted by Frank in what he approved to release.
Its clearly time to put up or shut up.
It was obvious some time back his assets were going to be frozen reading the financial press.
Guess this senario will be concluded within days and hopefully some thought has gone into a plan B though I doubt it.
This boards track record has been boom and bust through Keegan and Pearce, take a middle ground guy's pay top dollar for a manager not a player and let him sort the team out.
40 years watching and this cult club never cease to amaze me, it's all part and parcel of life rich tapestry for the Best Team in All the Land and All the World, hang on to your hats it's going to be a bumpy ride in.
Only our club would court such disaster!
I firmly now believe in the Old Gypsy Curse inflicted at Maine Road, I hoped it would be lifted when we moved to Eastlands. No such luck.
Haven't we also got a couple of sets of Yanks waiting in the wings?
Blah blah...pull together...blah blah...standup and be counted....blah
You are wrong. There is no point in supporting the people who got us into this mess.
With no manager and half a squad it is already too late to prepare for next season. Support will mean you assume partial responsibility for what must now follow.
I suggest you declare no confidence in the board and approach David Bernstein for help and advice on how to make a Supporters Trust a reality within the next few months.
Sunday Times Business Section
June 17-06-07
"At least £150 million apparently has been sitting in escrow accounts in the name of Seymour Pierce Thaskins financial advisers to prove he had the ability to finance the deal"
Well he had to have part of a stash somewhere but leaves me as confused as ever, draw a line with this guy City, put up or shut.
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