City owners complete club buy-out
Latest news update:
Sheikh Mansour has become the sole owner of Manchester City after completing a 100 per cent buy-out at Eastlands.
The Premier League big spenders confirmed on Wednesday morning that Sheihk Mansour has bought out the remaining 10 per cent stake of shares held by former owner Thaksin Shinawatra, giving him full control of City.
Through the Abu Dhabi United Group, Sheikh Mansour gained control of City from Shinawatra last summer but the former Thailand Prime Minister had retained a share in the club until now.
A club statement said: "As a result of the transaction, Manchester City is now 100 per cent owned by his highness Sheikh Mansour."
Sheikh Mansour has already invested huge sums of money in the club, including sanctioning a British record £32.5million transfer fee for Robinho last season and spending in excess of £120million on new players this summer, and it is rumoured he is now keen to build a new training facility for City on land around the club's Eastlands stadium.