http://www.timesonline.co.uk/tol/sport/football/premier_league/manchester_city/article4510636.eceDoubts about the future of Thaksin Shinawatra at Manchester City grew last night when it emerged that John Wardle, the former chairman, was required to lend the club £2 million last month so that staff could be paid. Thaksin created more unwanted headlines yesterday when he arrived in London seeking political asylum, having refused to attend the start of a corruption trial in his native Thailand, but his fragile grip on affairs at City appears weaker than ever after the latest revelations surrounding his unstable regime.
Wardle, who preceded Thaksin as chairman, resigned from the board last month in despair at the way that the club was being run, but before doing so, he loaned City £2 million to ensure that staff would be paid. He has since been repaid in full, with all staff having received their wages, but the club’s apparent need to accept his offer of a short-term loan suggests that City’s financial position is even more parlous than recent revelations had suggested.
Thaksin won instant popularity among City’s supporters a year ago when, having bought the club, he immediately sanctioned £40 million-worth of new signings, such as Vedran Corluka, Martin Petrov and Elano, but it has now emerged that, with little of the money paid up front, the outstanding payments on those deals are restricting activity in the transfer market under Mark Hughes, the new manager. The £18 million deal to sign Jô, the Brazil forward, from CSKA Moscow earlier this summer was similarly structured and, in the meantime, Hughes has clashed with Paul Aldridge, the club’s new chief operating officer, over transfer policy.
Hughes and Aldridge are now working together to try to secure at least two signings before the transfer window closes on August 31, but there are serious and growing concerns about the cashflow situation at the club. For the past year, Thaksin has been working on the basis that he will be able to bankroll the club once he gets his hands on £800 million of his assets, which are frozen in Thailand, but, as the former Prime Minister continues his battle against the authorities in Bangkok, his prospects of gaining access to that money appear more remote than ever.