Date Set For Man City Takeover By Adug
The formal takeover of Premier League club Manchester City by the Abu Dhabi United Group will be completed on Tuesday 23rd September.
The group, backed by Sheikh Mansour bin Zayed al Nahyan, will buy City from UK Sports Investments Ltd, which was led by former Thai PM Thaksin Shinawatra.
Thaksin, who will remain honorary president.
Sheikh Mansour announced that close friend Khaldoon Al Mubarak would become the club’s chairman.
Given the financial muscle of ADUG, a host of star names have already been linked with a move to Eastlands since the Middle East company announced its intentions to buy the club, splashing a British record fee of £32.5m to secure Robinho on transfer deadline day.
Sheikh Mansour admitted his investment in the Premier League club was a personal venture rather than a state project and pledged his long-term commitment to City.
‘In cold business terms, Premiership football is one of the best entertainment products in the world and we see this as a sound business investment. That being said, we understand that we need to put money in to get the club to where we believe it can be and where we think you the fans want it to be.
‘I am also a long-term investor and that is probably more important to the club and to the fans because it means we are here for the long haul and that we will act always in the best interests of the club and all of its stakeholders, but especially the fans.’
