Abu Dhabi seals deal to buy Manchester City

DONE DEAL: ADUG's man on the City board Dr Sulaiman Al Fahim, right, with Manchester City advisor Pairoj Piempongsant.

Premier League football club Manchester City has been taken over by the Abu Dhabi United Group for Development and Investment (ABUG), Arabian Business can reveal.

The deal was struck late on Sunday night between the club’s former owner Dr Thaksin Shinawatra, former Prime Minister of Thailand, and ADUG.

And the new owners wasted no time in sanctioning a last-minute bid to sign Spurs striker Dimitar Berbatov before the close of the transfer window which Spurs have reportedly accepted.

The Bulgaria international has been a target for Premier League champions Manchester United throughout the summer, but City's new owners have stepped in with an audacious last-minute move.

City's offer for Berbatov is reported to be in excess of $58 million and would set a new British transfer record.

ADUG will be represented on the new board of Manchester City by Hydra Properties CEO Dr Sulaiman Al Fahim.

Al Fahim, who led negotiations, confirmed on Monday the deal had been struck. He told Arabian Business: “We will release details later, but this is a great event for both the club and Abu Dhabi.

"Our goal is very simple – to make Manchester City the biggest club in the Premier League, and to begin with, to finish in the top four this season.”

Al Fahim stressed that the Group will solve all the club problems and clear any pending payments, and will comprehensively support the club by bringing in some of the best football players in the world.

Manchester City’s future has been uncertain following legal problems faced in Thailand by Shinawatra, who will stay on as honorary president of the club without any administrative responsibilities.

It is understood that negotiations began three weeks ago, and were completed on Sunday night at Emirates Palace Hotel in Dubai.

The deal was signed in the presence of Al Fahim, a member of the Group board and the successful architect of the deal, Shinawatra and Dr Khalid Kadfour Al-Muhairy, the head of the Emirates Group for advocate and legal consultants.

After sealing the deal for one of England's best known and oldest clubs, ABUG hope it will reinforce Abu Dhabi's position as a capital of both sport and economics.

Al Fahim said: "We in Abu Dhabi United Company for Development and Investment are keen to develop ways to provide support and care for various sports activities to help build and develop a new generation of young State, which represents the real wealth and the future of this nation and the cornerstone for building the future of our civilisation.

"As embodied in our mission to open new horizons in all kinds of sports, it will enable them to enjoy healthy body and mind, thanks to the lessons we have learned from the wise leadership in Abu Dhabi."

He added: "We will adopt marketing plans that reflect positively on the club and the company from investments in all sectors of television marketing and purchasing of the stars players, as well as development of infrastructure facilities at the club."

The deal is a huge coup for Al Fahim. Through Hydra Properties he is already involved in several sports sponsorship deals, and is building a new football academy in Abu Dhabi with Italian soccer giants Inter Milan.

Manchester City was founded in 1880 under the name of "Marx Sent" (St. Marks), which was changed to "Pedro" (Ardwick AFC) in 1887. The current name was taken on in 1894.

The club has won the English League Championship twice, the FA Cup four times, the League Cup twice and the European Cup Winners Cup once.

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

manchester city football club
Posted by anthony pring, oldham, england on Wednesday 3 September 2008 at 18:53 UAE time

i have been a supporter of man.city approaching 60 years,this week has been a roller coaster ride with the fantastic news of my club. am i dreaming? thankyou to all concerned.

manchester city
Posted by mrs b, manchester, united kingdom on Monday 1 September 2008 at 17:47 UAE time


i just want to say you have made me a very happy wife and mother today on our wedding anniversary ! they have not stopped smiling all day. it is a good day for the city of manchester football team !!!!

..would this guarantee..
Posted by kaptain, Dubai, United Arab Emirates on Monday 1 September 2008 at 15:59 UAE time


..would this guarantee the UAE's own team to cement it's place somewhere in the League of World Champions?

It's highly doubtful..

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM