Wednesday, May 02, 2007

Something Doesn't Smell Right

Again, if this guy is going to actually shell out $259M for Man City, where is the money going to come from? The money quote from this Forbes article:
Thai newspapers speculated as to how Thaksin had managed to gather sufficient overseas financial resources to finance the purchase while his assets at home are endangered due to charges of tax evasion and money laundering. His wife was recently seeking official approval to send 400 million Thai baht [$12.3M] to finance the purchase of a property in England.

Thaksin’s plan to buy Liverpool depended on heavy financing from the Thai government, which would certainly be unavailable under the current circumstances. Financial terms of his bid for Manchester City are sure to be scrutinized closely back at home.

What Game Is Thaksin Playing? [Forbes]


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