Mubadala boss poised to take helm at Man City

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Mubadala CEO Khaldoon Al Mubarak is to be appointed chairman of Manchester City Football Club, Arabian Business can reveal.

Al Mubarak has been running the Abu Dhabi government-owned investment and development firm for the past two years – a company with investments in 57 different companies.

It has assets of $10 billion under management, including an 8.1 percent stake in microchip manufacturer AMD and a five percent stake in Italian luxury car maker Ferrari.

He is expected take charge of the Premier League club in the next two weeks.

Al Mubarak will be one of only two board members appointed by Sheikh Mansour, who took over the club in a $420 million deal two weeks ago.

The other is expected to be the Sheikh’s PR representative, Simon Pearce.

Hydra Properties CEO Dr Sulaiman Al Fahim, who brokered the deal, is expected to work on developing the site around the club but not be involved in its management.

“Dr Sulaiman has put this brilliant deal together, but it was never planned for him to run the club once the deal is done – that was made clear in the statement put out at the time of the takeover,” said a source.

Beginning his career at the Abu Dhabi National Oil Company, Al Mubarak held a number of positions at UAE Offsets Group before assuming his current portfolio of responsibilities.

He holds a degree in Economics and Finance from Tufts University, Boston, US.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Brand slam

Brand slam

Gulf blue chips are now closely associated with most of the world...

Why Gulf money can't buy World Cup 2014 spot

Why Gulf money can't buy World Cup 2014 spot

Region's teams will miss out on Brazil 2014 due to managerial...

2
Ready for kick-off

Ready for kick-off

Andy Gray and Richard Keys are two of the best known faces in...

Most Discussed