By Elsa Baxter
Sheikh buys the club's remaining 10% of shares, taking his ownership to 100%.
Sheikh Mansour Bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, has total control of Manchester City after buying the remaining 10 percent of shares previously not under his control, it was announced on Wednesday.
The Premiership League club announced the purchase of the shares for an “undisclosed sum” by Sheikh Mansour on Tuesday night, according to a statement on the club's website.
"As a result of the transaction, Manchester City is now 100 percent owned by his highness Sheikh Mansour," the statement said.
Since he took over the English Premier League club last year, Sheikh Mansour has spent more than $320m on new players and other investments, the UK daily paper reported.
He has pledged to turn the under achieving club into a title-winning side.
He bought the club from the former Prime Minister of Thailand, Thaksin Shinawatra, for about $400m in September last year through Abu Dhabi United Group for Development and Investment, sources close to the club said at the time.
According to the report in the Guardian, Shinawatra retained his interest in the remaining 10 percent of the vlub's shares, and appointed the Thai businessman Jack Srisumrid and the Greek shipping tycoon Victor Restis as his nominees.
Srisumrid and Restis resigned as directors of Manchester City last Friday.For all the latest sports news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Great News! Every blue must feel they have won the lottery since the Sheikh has taken over!
ManU, Chelsea, Liverpool & Arsenal will always be in the top of the table!!
Man U will diminish and die when Ferguson dies, Chelsea hmmm maybe they will be there, Liverpool will NEVER achieve any premiership glory other than winning the odd cup here or there (Benitez is useless as a manager, much better suited to being a waiter) and Arsenal, lol did you see how City demolished them 2 weeks ago? obviously not! Manchester City WILL be the greatest Club in the World, you may deny and disagree but it is a certainty, the Sheikh doesnt do things by halves as you well know! We will rule the world and you will ALL bow down to the greatness of Manchester City!
city will never win anything decent! now and then they may win a trophy and what city fans & Sheikh dont understand is u CANT buy trophys. plus let me know when they do the treble. DREAM on city fans
City - very much like Chelsea will not amount to great things. United, although having spent a lot on players, have had that winning foundation for many years now and have built on it. Give it 10 - maybe 15 years and possibly....just maybe, City COULD become one of the greats...but we'll see how bored Sheikh Mansour gets when he doesn't see returns on his 'investment'. The problem you have, Gazinio, is that you don't have a team of world beaters. You've bought some very good talent...without doubt, but how will they perform after 60+ games in all championships and they're expected to put in another 90+ minutes on the big screen in front of 90,000 booing fans in Europe? Your strike force, whilst enviable, are a bunch of selfish individuals quite clearly only there for the money and not the football. Robinho is a joker and a poor excuse for a footballer. Adebayor, not words necessary. Tevez, he's been sold a right one by his agent - i did despise him up until the derby but can see now that he had no idea what was going on. Bellamy, good but vollotile. Santa Cruz, hmm, what anyone sees in him i've no idea. Anyone else worth mentioning? Probably not. But, all the best. All you have to do now is buy your own ground and you'll be a proper football team.
YES you can look at all the top clubs! As long as you buy te best you get the best no matter what shirt they wear. How many real Brits are playing in the MU, Chelsea etc. This is one of the few sport where you CAN buy throphy's as long as yur pockets are deep enough. You want a fair game go back to the rulles that 90% of players have to be local.
More is the money,more is the number of Trophies!!!!!!!!! Thank God,Bill gates and Ambanies are not much interested!!!Else the trophy would lie with dem foreva!!!! Please every1 be Practical!
How much have Chelsea ploughed into the game and how much have they got out? Not a great deal. More money does NOT equal more trophies. It takes so much more - for one - you don't want a meddling owner such as Abramovich. And Christian, Foster, O'Shea, Evans, Ferdinand, Neville, Scholes, Fletcher, Gibson, Carrick, Giggs, Rooney, Owen, Welbeck (to name but a few for MUFC). We could make a full team out of that lot - a dman good one too. I don't see what you're getting at?
Shesha, the fools are the glory seeking fans that suddenly decide to be a supporter based on current success, then get very bored when they don't win. I've supported United since I was born. Many many others have too. I was born with a shirt on. I don't support them for their money, for their players or for their wonderfully gifted manager. I support my local team (well, not any more) I just happen to be very privileged that over my relatively short lifetime i've experienced nothing but success. Anyone thinking of jumping on this city bandwagon...well, more fool you.
Great news yet again, loving every minute of this.