UAE may cancel UK investments after Manchester City guilty verdict

The United Arab Emirates may cancel major investments in the UK after an independent commission’s verdict in the Manchester City case. Emirati officials said the Premier League’s actions would affect bilateral relations, Bloomberg reported.

The Telegraph said a multibillion-pound investment in an Oxbridge technology hub was at risk. The newspaper also reported that Manchester City chairman Khaldoon Al Mubarak met Business Secretary Jonathan Reynolds in Downing Street two weeks before the Premier League announced its decision.

Commission upheld 114 charges

The Premier League brought 115 charges against the club over alleged financial-rule breaches between 2009 and 2018. In September, an independent commission upheld 114 of the 115 charges, describing some commercial deals as “sham” arrangements and calling the club’s witnesses “dishonest.”

The commission said the club had arranged sham deals with several sponsors as part of a disguised funding scheme. The sponsors paid only part of the relevant fees, while the remainder was funded by Abu Dhabi United Group Investment & Development Ltd, the club’s owner.

Manchester City appeals ruling

Manchester City lodged an appeal. The club said the commission’s ruling contained material errors of law, principle and fact and was therefore unsafe.

The club maintained its innocence and said it had submitted “a comprehensive body of irrefutable evidence” supporting all of its positions.

UK government responds

Downing Street described the verdict as serious after criticism of Greater Manchester Mayor Andy Burnham. Earlier, Burnham told the BBC he would be “really concerned” if the club’s current owners sold it, calling them a major partner in the development of modern Manchester.

Conservative shadow sport minister Louie French accused the prime minister of publicly backing the club’s owners and described his comments as “frankly extraordinary.”