22 Sep 2008

City take over completed

5:43 am on 22 September 2008

Manchester City's takeover by an Abu-Dhabi based company has moved closer to completion after the English Premier League club announced that the process of due diligence had been concluded.

A statement says the formal change of ownership of the club will take place on Wednesday.

The new owners will be Abu Dhabi United Group for Development and Investment.

Outgoing chairman Thaksin Shinawatra says when he bought Manchester City the club had been languishing in the bottom half of the Premier League and had an uncertain future.

He says they invested in new talent and management and have been delighted by the success that has brought to the club.