Manchester City's owner Thaksin Shinawatra has agreed to sell the English premier football league club to a Middle East company.
The former Thai prime minister has signed a memorandum of understanding with Abu Dhabi United Group that would see the Arab company take a majority stake in the club.
The head of the company Dr Sulaiman al-Fahim says they want to turn Manchester City into a top-four club within three seasons, and they have very deep pockets.
City's arch rivals Manchester United last month signed a marketing deal with a Saudi Arabian telecommunications firm.
