Sheikh Mansour buys final 10% of City shares

The club have announced that Sheikh Mansour has purchased the 10% of the club’s shares that were owned by Worldwide Investments Limited. This was a company indirectly owned by Thaksin Shinawatra and his family. The 10% had previously gone to Worldwide Investments Limited at the time Sheikh Mansour took over.

David Conn writes in The Guardian:

After the takeover Thaksin was widely reported to have retained his interest in the remaining 10% of shares, and appointed as his nominees his long-term associate Jack Srisumrid, a Thai businessman, and the Greek shipping tycoon Victor Restis. Srisumrid, 38, became a City director in August 2007 shortly after Thaksin bought the club. Restis, 41, based in Athens, was appointed to the City board after Mansour’s takeover but is understood to have been a representative of the 10% holding, not of Mansour’s 90%. Both Srisumrid and Restis resigned as directors of City last Friday.

Sheikh Mansour is now the sole owner of the club. Good.