Thursday, June 21, 2007

Wide of the mark Manchester Evening News gets it wrong again...

The MEN has once again got it's facts wrong concerning a big football story. Yesterday the paper claimed that the much talked about Manchester City takeover would amount to a £120m offer for the club. Today that offer has materialised and Shaksin Sinawatra's offer of just over £81m has been accepted by City.

The offer price includes £61m to pay off the clubs debts, meaning that the clubs shares were worth just over £20m.

It is not known at this stage if the offer price amounts to a total buyout, it has to be doubtful, but even if the offer acquires Wardle and Makin's major shareholding, the clubs total shareholding would only amount to around £40m which is still some £20m less that the £120m which the MEN has been quoting.

Some City fans are now asking about the supposed £120m offer, because the lowly £20m figure makes their club look small. In perspective Wayne Rooney alone cost more than that.

This is the same newspaper that told United fans that David Beckham was staying put at United... and more recently the MEN published a story claiming that United had never lost an FA Cup final after securing the league title, which again is incorrect.

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