UAE ‘threatens to pull billions of investments from UK in rebellion against Man City ruling’

UAE ‘threatens to pull billions of investments from UK in rebellion against Man City ruling’ Emirati officials say the Premier League verdict will ‘have an influence on the bilateral relationship’ - Bookmark - CommentsGo to comments Become an Independent member to bookmark this article Already a member? Log in The United Arab Emirates has warned the Government it could cancel billions of pounds of investment in the UK over the Premier League’s Manchester City ruling, according to reports. Emirati officials said “the Premier League’s actions” would “have an influence on the bilateral state relationship”, Bloomberg reported. The Telegraph said the UAE is threatening to scrap billions of pounds of private investment for a hi-tech Silicon Valley-style hub between Oxford and Cambridge. The newspaper also reported that Man City chairman Khaldoon Al Mubarak met Jonathan Reynolds, the Business Secretary, in Downing Street two weeks before the Premier League announced its decision. On Thursday, Downing Street insisted the guilty verdict against City is “serious”, after Andy Burnham was accused of making a “frankly extraordinary” intervention in support of the football club’s owners. A No 10 spokesperson issued the statement after the Prime Minister said he would be “really concerned” to see the current owners sell up. Conservative shadow sport minister Louie French had accused Mr Burnham of “publicly backing the owners” amid a probe into the club’s funding over recent years, describing his comments as “frankly extraordinary”. The Liberal Democrats called on Burnham to publish all details of his meetings with Manchester City’s owners, the Abu Dhabi United Group (ADUG), and declare all hospitality he has accepted at the Etihad Stadium. Asked by the BBC earlier this week if he was worried about the current owners selling the club, Mr Burnham said: “I would be really concerned to lose them. “They’ve been such a huge partner in the building of modern Manchester. “Obviously, the building of Manchester City into the global force that it is.” Asked also if his dealings with the club would stand up to scrutiny, he said: “I do actually thank the City Football Group and the wider ownership for the money that they didn’t just put into the Etihad and the campus around it but also into the city – but yes, of course.” Downing Street was forced to issue two clarifications of his position on Thursday, with a spokesperson for the PM insisting the guilty verdict against Manchester City is “serious”. Former City and FA chairman David Bernstein said he was “concerned” about Mr Burnham’s comments and the issue was “something that politicians should be seen to be staying well away from”. City were found guilty of charges related to breaches of financial rules between 2009-10 and 2017-18. The Premier League said an independent commission found City arranged “sham” commercial deals with a number of its sponsors during the period, which were part of a disguised funding scheme, whereby those companies were required to pay only a portion of the relevant sponsorship fees. The commission found that the remainder was funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), which owned the club. Join our commenting forum Join thought-provoking conversations, follow other Independent readers and see their replies Comments