Key facts
- UAE officials have reportedly warned the UK government of potential cancellation of investments.
- The warning follows an independent commission's guilty verdict against Manchester City for financial rule breaches.
- Emirati officials stated the Premier League's actions would influence bilateral state relations.
- The UAE is reportedly threatening to withdraw a multi-billion pound investment into an Oxbridge tech hub.
- Manchester City was found guilty of 114 Premier League financial rule breaches between 2009 and 2018.
- The commission described the club's activities as a 'sham' and witnesses as 'dishonest'.
The United Arab Emirates has reportedly warned the UK government that it could cancel significant investments following an independent commission's guilty verdict against Manchester City for breaches of financial rules. Emirati officials indicated that the Premier League's actions would influence the bilateral state relationship, according to Bloomberg.
The Telegraph reported that the UAE is threatening to withdraw a multi-billion pound investment into a Silicon Valley-style Oxbridge tech hub.
The Premier League brought 115 charges against Manchester City for financial rule breaches between 2009 and 2018. An independent commission upheld 114 of these charges in September, describing the club's activities as a "sham" multiple times and its witnesses as "dishonest."
Manchester City chair Khaldoon Al Mubarak met with Jonathan Reynolds, the UK business secretary, two weeks before the Premier League announced its decision, according to The Telegraph.
Downing Street stated that the guilty verdict against City was "serious." Prime Minister Rishi Sunak also expressed concern about the current owners selling the club. Andy Burnham, Mayor of Greater Manchester, said he would be "really concerned to lose them," citing their partnership in building modern Manchester and Manchester City into a global force.
The Premier League stated that the commission found City arranged "sham" commercial deals with sponsors, with the remainder of the fees funded by Abu Dhabi United Group Investment + Development Ltd (ADUG), the club's owner. Manchester City has lodged an appeal, calling the ruling "unsafe" and containing "clear material errors of law, principle and fact."