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| Version 4 | Version 5 |
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| Thaksin lodges bid for Man City | Thaksin lodges bid for Man City |
| (10 minutes later) | |
| Former Thai Prime Minister Thaksin Shinawatra has lodged an £81.6m formal takeover bid for Manchester City. | Former Thai Prime Minister Thaksin Shinawatra has lodged an £81.6m formal takeover bid for Manchester City. |
| The City board said it intended to back the bid from UK Sports Investments, a vehicle indirectly controlled by Mr Thaksin and his son and daughter. | The City board said it intended to back the bid from UK Sports Investments, a vehicle indirectly controlled by Mr Thaksin and his son and daughter. |
| But Mr Thaksin will have to pass the Premier League's standard "fit and proper person" test before being able to complete the proposed takeover. | But Mr Thaksin will have to pass the Premier League's standard "fit and proper person" test before being able to complete the proposed takeover. |
| Thai prosecutors have recently filed corruption charges against Mr Thaksin. | Thai prosecutors have recently filed corruption charges against Mr Thaksin. |
| Mr Thaksin's wife has also been named in the case, which involves allegations of wrongdoing in a land deal. | Mr Thaksin's wife has also been named in the case, which involves allegations of wrongdoing in a land deal. |
| Mr Thaksin's son and daughter, Panthongtae and Pintongta Shinawatra, are also major players in UK Sports Investments. | Mr Thaksin's son and daughter, Panthongtae and Pintongta Shinawatra, are also major players in UK Sports Investments. |
| Manchester City is the latest English football team to attract interest from foreign investors. | Manchester City is the latest English football team to attract interest from foreign investors. |
| If the takeover goes ahead it would mean eight Premiership clubs would be in foreign ownership, with City joining Aston Villa, Chelsea, Fulham, Liverpool, Manchester United, Portsmouth and West Ham. | If the takeover goes ahead it would mean eight Premiership clubs would be in foreign ownership, with City joining Aston Villa, Chelsea, Fulham, Liverpool, Manchester United, Portsmouth and West Ham. |
| 'Excellent work' | 'Excellent work' |
| The offer is 40p in cash for each Manchester City share, valuing the existing issued share capital of Manchester City at approximately £21.6m, together with net debt of approximately £60m. | The offer is 40p in cash for each Manchester City share, valuing the existing issued share capital of Manchester City at approximately £21.6m, together with net debt of approximately £60m. |
| "I am delighted that the Board of Manchester City has recommended my bid for the club and I look forward to continuing the excellent work of John Wardle and his team," said Mr Thaksin. | "I am delighted that the Board of Manchester City has recommended my bid for the club and I look forward to continuing the excellent work of John Wardle and his team," said Mr Thaksin. |
| "We share a determination to take the club back to its rightful place at the highest level of competition in both the FA Premier League and European football." | "We share a determination to take the club back to its rightful place at the highest level of competition in both the FA Premier League and European football." |
| John Wardle, chairman of Manchester City, added: "Following our significant progress over the last few years, this offer provides an exciting opportunity to take Manchester City to the next stage of our development and deliver the on-field success we have all been striving for." | John Wardle, chairman of Manchester City, added: "Following our significant progress over the last few years, this offer provides an exciting opportunity to take Manchester City to the next stage of our development and deliver the on-field success we have all been striving for." |
| Mr Wardle said he had been asked to remain on the board of the club, together with chief executive Alistair Mackintosh. | Mr Wardle said he had been asked to remain on the board of the club, together with chief executive Alistair Mackintosh. |
| On the playing field, former England coach Sven-Goran Eriksson is believed to be favourite for the role to succeed Stuart Pearce as manager. | On the playing field, former England coach Sven-Goran Eriksson is believed to be favourite for the role to succeed Stuart Pearce as manager. |
| Land deal | Land deal |
| In the background to the proposed takeover has remained the corruption charges that the former Thai PM has been facing. | In the background to the proposed takeover has remained the corruption charges that the former Thai PM has been facing. |
| Mr Thaksin has stayed away from Thailand since the coup which removed him from power last year. | Mr Thaksin has stayed away from Thailand since the coup which removed him from power last year. |
| Thai prosecutors have filed corruption charges accusing him of illegally helping his wife buy government-owned land at a bargain price four years ago. | Thai prosecutors have filed corruption charges accusing him of illegally helping his wife buy government-owned land at a bargain price four years ago. |
| The former Thai leader, who now lives mainly in London and was overthrown in a bloodless military coup last September, denies any wrongdoing. | The former Thai leader, who now lives mainly in London and was overthrown in a bloodless military coup last September, denies any wrongdoing. |
| The charges relate to the purchase of a plot of land in Bangkok by Mr Thaksin's wife Pojaman, for 772m baht ($24m; £12m). | The charges relate to the purchase of a plot of land in Bangkok by Mr Thaksin's wife Pojaman, for 772m baht ($24m; £12m). |
| The land, owned by a government agency, had earlier been valued at 2.1bn baht. | The land, owned by a government agency, had earlier been valued at 2.1bn baht. |
| Mr Thaksin is accused of illegally influencing the deal. | Mr Thaksin is accused of illegally influencing the deal. |
| The Supreme Court said it would decide on 10 July if it would hear the case. | The Supreme Court said it would decide on 10 July if it would hear the case. |