Date: 9th August 2008 at 5:49pm
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Manchester City FC are thought to be in financial strife with mounting debts and no one available to pay the bills.

With club owner Thaksin Shinawatra considering political asylum what will happen to OUR club, we call Manchester City.

City has already dismissed suggestions Dr T is looking for a buyer. However, a spokesperson made no secret of the fact there has been contact with a number of potential investors.

The biggest problem City face is that the club still owes money for the eight players signed by City’s former manager, Sven Goran Eriksson, last summer.

The headline investment was around the £45m mark, the initial outlay was understood to be a much more modest £15m.

Fans are now hearing that Croatian defender Vedran Corluka is on the verge of signing for Tottenham for a mere £5m, well short of what City originally paid for the 22-year-old defender, but why?

It appears money earmarked for new players has had to be diverted away to pay for the day-to-day running of the club, something manager Mark Hughes is known to be furious about.

The next few weeks and months are vital for the club. Should Thaksin Shinawatra be found by the Football Association and Premier League not to be a fit and proper person to own an English club all hell with reek around Eastlands and the footballing world for years to come?

Watch this space – if you dare!