The United Arab Emirates are reportedly threatening to pull billions of pounds in potential investment for the Oxford-Cambridge corridor project after Manchester City were found guilty by an independent commission.
UAE Officials Linked to City Ownership
City's owner, Sheikh Mansour, is the UAE's deputy prime minister and vice president, with his brother, Mohamed bin Zayed Al Nahyan (MBZ), being the incumbent. City chair Khaldoon Al Mubarak is the chief executive and managing director of one of Abu Dhabi's sovereign wealth funds, Mubadala, which Mansour also chairs.
Al Mubarak is the public face of their ownership. He released a letter in response to media reporting last Friday.
Guilty Verdict and Appeal
City have since been found guilty of all charges related to serious breaches of the Premier League's financial rules over a nine-season period. However, the club have appealed against the commission's decision, claiming it "contains clear material errors, of law, principle and fact and is unsafe".
Threat to Investment
The Telegraph now reports that the UAE are warning Prime Minister Andy Burnham about retaliation for the guilty verdict. The former government minister, Lord Stockwood, is said to have sent a letter to Al Mubarak in February, inviting Mubadala officials to visit their hi-tech hub scheme between Cambridge and Oxford.
