Thaksin buys up more City shares

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Thaksin's company UK Sports Investments Ltd has purchased a further 5,343, 622 shares (9.88%) in the club.

The shares are believed to be from broadcasting giants Sky as they are the only major shareholder remaining after Thaksin received a 55.9% stake following pledges from board members and former chairman Francis Lee.

He now has a 65.78% interest in City and is edging closer to the 75% mark where he can de-list the company and take them into private ownership.

The prospect of a new era at City is beginning to gather pace. The first deadline for shareholders to decide is on July 17 at 1pm. However they have a maximum of 60 days to make up their minds.

But the remaining small shareholders may feel obliged to give an early decision so that Thaksin and the new manager can get down to business.

Whether that will be before the players return to training next Wednesday remains to be seen.

It is understood Eriksson has started to identify his transfer targets - there will be a £50million kitty - even though he is yet to sign a three-year contract.

An Eriksson deal is expected to be confirmed when Thaksin has secured 75% of the club shares.