Move Over Roman Abrahmovic. A group of Abu Dhabi investors agreed to buy Manchester City on Monday from Thaksin Shinawatra, the former Thai prime minister, in a deal that highlights the global interest in owning football clubs in the English Premier League.Within hours of the deal, the new owners displayed their ambition and deep pockets by signing Robinho, the Brazilian forward, from Real Madrid for a reported £32.5m. The player had been sought by Chelsea.
The deal is one of the most high-profile private deals to emerge from the United Arab Emirates’ capital, one of the richest cities in the world.
The Abu Dhabi government institution have gone on an extensive spending spree in recent years, recycling hundreds of billions of petrodollars on trophy assets and companies that it hopes will help diversify the oil-dependent economy. However previous investments have been restricted to UAE stocks and property.
A fan of Al Ain and Al Jazeera football clubs in the UAE, Mr Fahim declined to say who he supported in the Premier league prior to the deal. “I am now a massive Man City fan,” he said. Very Wise.
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