City under new ownership

City under new ownership

Manchester City are reported to have been taken over by the Abu Dhabi United Group for Development and Investment.

The new investors are believed to have sealed a deal at the weekend, following intensive negotiations with current City owner Dr Thaksin Shinawatra.

ADUG representative, Dr Sulaiman Al Fahim, told Arabian Business: "This is a great event for both the club and Abu Dhabi.

"Our goal is very simple, to make Manchester City the biggest club in the Premier League and to begin with, to finish in the top four this season.

"We will adopt marketing plans that reflect positively on the club and the company from investments in all sectors of television marketing and purchasing of the stars players, as well as development of infrastructure facilities at the club."

Former prime minister of Thailand Shinawatra's continued involvement with the Citizens had been called into question after his assets had been frozen in his homeland.

He had previously fled the country to avoid facing charges of corruption.