this is what happens
By: j | August 6th, 2008From the moment of Thaksin Shinawatra’s purchase, there were many who said the notion of it providing financial stability to the club was far from the truth.
Through the pre-season, while the charade of Ronaldinho and Andrei Arshavin acquisitions continued, that were in-truth financed by man-in-charge’s former employer to suit their long-term corporate maneuver, it became obviously the clubs working capital wasn’t even close to what some want to believe. With Thaksin Shinawatra’s £800m assets frozen in his homeland while he is fighting corruption charges, club cash flow is in a less than favourable position. This is likely to cause the fire-sale of Vedran Corluka to Tottenham, likely to be in the £7m range and other situations may arrise with younger talent. This is equally why the move to bring in Jô from CSKA was made because most of the price was back-end loaded on a longer deferred payment plan beyond one-year which is against regulations for clubs in England.
City has denied any financial issues in the past but now in-speaking with the BBC, a club spokesman admitted that there have been “exploratory” talks with potential investors. Whether City finds it’s “white knight” in the form of a new investor, reputedly a SWF or not, remains to be seen. Some blame must be shared by the Premier League for not doing its due diligence because right now, it looks like it’ll take a lot of work to hold this situation together.
I will be reporting further on this situation.
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Category: Team News
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