Former Thai Prime Minister Thaksin Shinawatra is still keen to buy Manchester City, despite an order to freeze his assets in Thailand, his lawyer has confirmed.
“We are still pursuing the deal,” lawyer Noppadon Pattama told Reuters. “We hope the seller will appreciate the recent development in Thailand and realise that Dr Thaksin is willing to cooperate with them fully.”
Thailand’s government told Thai banks on Tuesday to freeze 21 bank accounts with assets worth 52.9 billion baht (approx £750m) held by Thaksin and his family.
The announcement by the Asset Examination Committee (AEC), set up after September’s coup against Thaksin, followed months of investigations into alleged corruption during his period in office.
The AEC said in a statement it had come to the conclusion that “Thaksin and his cronies had been corrupt and committed wrongdoings”.
Noppadon said the asset freeze might affect how the takeover, estimated by Thai newspapers at £100m, is financed.
“In light of the decision by the AEC to freeze his assets, we might have to re-adjust the situation regarding the funds. But we hope that the deal will be successful,” he said.
The Premiership club told the London Stock Exchange on Monday they were in talks with Thaksin’s advisers to “confirm the implications of these developments in respect of their client’s interest in potentially making an offer for the company”.