Man City owner Thaksin fires Glazer barb

Shinawatra's £81.6m takeover yesterday cleared the Eastlands of £60m worth of debts and saw him secure 55.9 per cent of its shares.

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He is aiming to eventually gain 75 per cent of the shares and put in an immediate £50m for players.

Shinawatra believes that City are now in an even better position than United who are saddled with debts of around £500m following the unpopular takeover by the Glazer family in June 2005.

Shinawatra said: "In business if you have too much debt, you have to fund it with the operating income.

"That is not good for a club. To rid yourself of the debt is much better."

And the Thai insisted: "We will take this club back up the league. We will market it to make it as big in Asia as Manchester United or Liverpool. And I'm dreaming of a trophy in my first season here."

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