Manchester City are seeking clarification of would-be buyer Thaksin Shinawatra's financial status after Thailand's anti-graft panel said it would freeze US$1.5 billion in assets held by the former Thai prime minister and his family.
The move has cast doubt on whether Thaksin will be able to proceed with his planned buyout of the English Premiership club.
In a statement, the City board confirmed that they were uncertain as to the implications of Monday's development.
Photo: AFP
"The board notes the information emanating out of Thailand today in respect of Dr Shinawatra and the freezing of his assets," a statement issued by the club read.
"The board and its advisers are in discussion with Dr Shinawatra's advisers to confirm the implications of these developments in respect of their client's interest in potentially making an offer for the company.
"These discussions and those between the company and other interested parties may or may not lead to an offer being made for the company," the statement said.
The assets frozen in Thailand are held in 21 accounts that hold the profits from the sale of Thaksin's Shin Corp telecom giant to Singapore's Temasek Holdings.
The committee also ordered a freeze on an unspecified number of personal accounts held by Thaksin and his wife Pojaman, citing evidence that Thaksin had broken the law.
Thaksin was ousted from power by the military last year and lives in exile in England.
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