Dhabi United Group (ADUG) Buys Manchester City

Manchester City became the second Arab-owned football club in the English Premier League `EPL` Monday following its takeover by Abu Dhabi United Group Investment and Development `ADUG`. The new owners are expect Premier League clearance so they can buy the club outright, within hours.

ADUG claimed it completed the takeover of the north-west English club from controversial Thai owner Thaksin Shinawatra who is fleeing an arrest warrant while on bail over corruption charges in his home country.

Dr Sulaiman Al Fahim the 31-year-old behind the adventure has to wait for the due diligence test, otherwise known as the 'fit and proper person' check before the final piece of the jigsaw can be rubber-stamped. Other than that, City fans waking up this morning can think of their beloved club not just as a rich club but as the wealthiest club in the world.

Talking to the reputable and leading newspaper, Arabian Business, Dr Sulaiman Al Fahim explained that the consortium had dotted the 'I's' and crossed the 'T's', however it was up the EPL's governing body to sanction the takeover.

'It is really about formalities. It is more about securing approval from the authorities in England, such as the Premier League. I don't foresee any problems with the club itself. I need to check my diary and come over to England as soon as possible so I can meet people from the Premier League. We are very happy to become the new owners of Manchester City, one of the oldest clubs in England.'

The deal gave it "all management rights" over Manchester City, while the former Thai prime minister would become honorary president of the club "without any administrative responsibilities," it said.

The takeover comes after Egyptian businessman Mohammed al-Fayed became the first Arab owner of an EPL, when he bought London's oldest professional club, Fulham back in 1997.

The EPL has no restrictions on club ownership, with eight of the 20 clubs in foreign hands, although any director can be automatically disqualified if they are convicted of a listed offense.

Currently, three clubs are under American control, Manchester United, Liverpool and Aston Villa, followed by two under Russian ownership, Chelsea and Portsmouth.

Apart from Manchester City and Fulham, the other club in foreign hands is West Ham, owned by an Icelandic consortium headed by Eggert Magnusson.