Manchester City owner Thaksin Shinawatra is seeking outside investment.

The People says Shinawatra hopes to raise £80MILLION by selling a fraction of his club.

In the latest twist at crisis-hit Eastlands, the former Thai leader has instructed financial firms around the world to find him a partner willing to take between a 10 and 15 per cent stake.

Brokers Axiom Partners, for example, are looking for takers in the U.S.

Shinawatra does not want to give up power at City but the freezing of his assets has caused major problems while he fights corruption charges.

City executive chairman Garry Cook and Shinawatra's advisers are looking everywhere to raise money.

But as one would-be investor said: "The package values Manchester City at over £500million, which makes no sense at all."