Shinawatra launches £81.6m City bid

Former Thai prime minister Thaksin Shinawatra has moved a step closer to taking control of Manchester City.

Shinawatra today lodged a formal £81.6m bid for the club after weeks of negotiations.

City’s board have recommended to shareholders that the offer should be accepted.

Should Shinawatra go on and see his plans come to fruition his first task will be to appoint a new manager.

Former England coach Sven-Goran Eriksson is believed to be in the running to succeed Stuart Pearce, who was dismissed at the end of the season after a disappointing campaign.