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Sheikh 'Mancity' Flexes Financial Muscle Again

Sheikh 'Mancity' Flexes Financial Muscle Again

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Following the recent investments of New York`s Chrysler Building, a stake in Ferrari and the acquisition of MCFC, His Highness Sheikh Mansour this week invested more than £5 billion in Barclays bank.

This means he now has a 16.3% stake in Great Britain's second-biggest bank.

The 38 year old brother of the ruler of Abu Dhabi has an estimated family fortune of about £555 billion to buy foreign assets with and that wealth shows no signs of waning in a world where oil is king.

The general rule of thumb is that every time the price of oil goes up by approximately $1, then Abu Dhabi rakes in as much as $500 million plus per day. Stunning.

The chairman of Al Jazeera Football Club and the Emirates Horse Racing Authority with a bachelors degree in political science has given us another reminder this week of the financial clout he has at his disposal.

Thus far under Sheikh 'Mancity's' ownership, City have signed the brilliant Robinho and the solid Pablo Zabaleta then paid off all outstanding debts.

Next in line for purchase is The City of Manchester Stadium which is likely to be expanded in size.

No wonder united's Chief Executive David Gill, following up on the recent repeated press conference discussions about City by Sir Taggart, has himself started debating with the media what will happen at Sportcity in January.

Clearly the rags are rattled. But like it or not, developments at Eastlands over the coming months are increasingly likely to transform the Premier League landscape. Mark "Bluesy" Hughes will be flying down to Abu Dhabi in a fortnight to discuss January's transfer targets for starters.

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Click here to join in the debate on the club forum.

Writer:Johnny Baguette
Date:Saturday November 1 2008
Time: 12:36PM

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Comments

0
and you can take that to the bank !!!
lincolnblue
01/11/2008 12:44:00
0
Scary the amount of money he has. As we all know though, the cash is only one piece of the City jigsaw. Definately exciting times though!
oliverblue
01/11/2008 12:45:00
0
I have a gut feeling that we will see unprecedented January transfer signings unless City's form rapidly stabilises in the form of consistent wins. I type unprecedented because most top clubs will not release their prize assets mid season unless the money is massive. Furthermore, City need to still be in European and PL contention to lure those prize assets, but that's another defensive story!
Johnny Baguette
01/11/2008 12:58:00
0
Do you see us still knocking on the PL door in January JB?
oliverblue
01/11/2008 13:25:00
0
(Tongue in cheek)... I think the Royal Abu Dhabi family intend taking over the world. With £555billion in the bank I guess they do what ever they want. Good luck I say!!
Tudor
01/11/2008 13:32:00
0
If the team get a head of steam going, I see no reason why we can't be thereabouts at Christmas ob. Back to back wins can see you move mountains. For example we are only 5 points off relegation in 8th place. Gulp!
Johnny Baguette
01/11/2008 13:50:00
0
Apparently, the new ownership and the billions (and the promise/threat of new signings in January) failed to spark City into a decent winning streak. Can't even beat Boro...
Old Mother Hell
01/11/2008 14:29:00
0
I don't mean to be negative and pessimistic. It's just that the frustration is unbearable...especially with all these billions...
Old Mother Hell
01/11/2008 14:30:00
0
City is still very much a team in transition, omh. The ADUG takeover only went through at the end of the summer window so there was little time to make an impact. In many respects, i'm glad it worked out as it did because the manager and the chairm
Johnny Baguette
01/11/2008 16:10:00
0
...an (excuse me) now have a better idea of exactly how our squad functions. Looking at the league table this evening, it's clear there is a lot of work to be done.
Johnny Baguette
01/11/2008 16:11:00
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