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...... buy out Team Singapore!
Royal billions just a start for Manchester City
David Robertson
Business Correspondent
Manchester City’s prospective new owners have said that money will be no object in the pursuit of top honours, but exactly how much cash will the club have at their disposal — hundreds of millions, billions or even trillions of dollars?
Having billionaire owners is no guarantee that a football club are about to go on a spending spree, as Newcastle United and Arsenal have discovered, but City’s new backers do not appear to be the frugal type. Dr Sulaiman al-Fahim, the front man for the takeover of City, is an extremely rich man, but his wealth barely registers next to that of the consortium’s principal backer, Sheikh Mansour bin Zayed al-Nahyan.
The al-Nahyans rule Abu Dhabi, an oil-rich state that is part of the United Arab Emirates. Sheikh Mansour’s half-brother is the Emir (and President of the UAE) and his full brother is the Crown Prince, which means that City’s prospective new owner is a member of one of the richest families in the world.
Sheikh Mansour’s exact wealth is hard to establish because the distinction between the al-Nahyan family’s assets and those of Abu Dhabi is fuzzy. As absolute rulers of the state, the family effectively owns its oil revenues and its two sovereign wealth funds. Financial institutions in London estimate that the Abu Dhabi Investment Authority has assets of $700 billion (about £395 billion) and Mubadala, the fund that bought 5 per cent of Ferrari, is valued at between $10 billion and $20 billion.
In total, the al-Nahyans are likely to have more than $1 trillion at their disposal, but Sheikh Mansour will not be allowed to spend that on football players. Rather, the purchase of City is a personal hobby and will come out of his bank account, although it is impossible to know how much is in it. According to Arab experts in the Gulf, Sheikh Mansour’s wealth is likely to range from $5 billion to $50 billion, but his affluence is only part of the story because the club’s acquisition by royalty will open numerous other business opportunities.
The purchase of City will be a source of pride for Abu Dhabi and businesses there will want a connection with the club. Additional advertising, sponsorship and television rights from the Middle East will help to fill City’s coffers. For example, a company such as Etihad, Abu Dhabi’s national airline, may be willing to pay top dollar for shirt and stadium sponsorship as part of its neighbourhood rivalry with Emirates, Dubai’s airline and Arsenal’s principal sponsor.
As Manchester United have found, international revenues can be just as important as an owner with deep pockets. After all, the love of a billionaire owner can wane, but a fan base is for ever.
Royal billions just a start for Manchester City
David Robertson
Business Correspondent
Manchester City’s prospective new owners have said that money will be no object in the pursuit of top honours, but exactly how much cash will the club have at their disposal — hundreds of millions, billions or even trillions of dollars?
Having billionaire owners is no guarantee that a football club are about to go on a spending spree, as Newcastle United and Arsenal have discovered, but City’s new backers do not appear to be the frugal type. Dr Sulaiman al-Fahim, the front man for the takeover of City, is an extremely rich man, but his wealth barely registers next to that of the consortium’s principal backer, Sheikh Mansour bin Zayed al-Nahyan.
The al-Nahyans rule Abu Dhabi, an oil-rich state that is part of the United Arab Emirates. Sheikh Mansour’s half-brother is the Emir (and President of the UAE) and his full brother is the Crown Prince, which means that City’s prospective new owner is a member of one of the richest families in the world.
Sheikh Mansour’s exact wealth is hard to establish because the distinction between the al-Nahyan family’s assets and those of Abu Dhabi is fuzzy. As absolute rulers of the state, the family effectively owns its oil revenues and its two sovereign wealth funds. Financial institutions in London estimate that the Abu Dhabi Investment Authority has assets of $700 billion (about £395 billion) and Mubadala, the fund that bought 5 per cent of Ferrari, is valued at between $10 billion and $20 billion.
In total, the al-Nahyans are likely to have more than $1 trillion at their disposal, but Sheikh Mansour will not be allowed to spend that on football players. Rather, the purchase of City is a personal hobby and will come out of his bank account, although it is impossible to know how much is in it. According to Arab experts in the Gulf, Sheikh Mansour’s wealth is likely to range from $5 billion to $50 billion, but his affluence is only part of the story because the club’s acquisition by royalty will open numerous other business opportunities.
The purchase of City will be a source of pride for Abu Dhabi and businesses there will want a connection with the club. Additional advertising, sponsorship and television rights from the Middle East will help to fill City’s coffers. For example, a company such as Etihad, Abu Dhabi’s national airline, may be willing to pay top dollar for shirt and stadium sponsorship as part of its neighbourhood rivalry with Emirates, Dubai’s airline and Arsenal’s principal sponsor.
As Manchester United have found, international revenues can be just as important as an owner with deep pockets. After all, the love of a billionaire owner can wane, but a fan base is for ever.
