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.

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."