It won't have been a key thread in the CAS appeal in itself, as Stefan says. But it may give us some context, something which was sorely lacking in the emails published in Der Spiegel. It could well be a pointer to who paid the additional money.
My grounds for saying that it doesn't refer to Sheikh Mansour on the balance of probabilities are that:
- Other emails refer to 'ADUG', so why not in this one if that's what Pearce meant?
- There's no other emails we've seen where Sheikh Mansour is referred to by name (although that doesn't mean there aren't any). It was ADUG in the ones published, or 'ADUG shareholder'.
- I even doubt whether Sheikh Mansour has the day-to-day involvement in ADUG that would require him to make that decision.
- We know Etihad and its sponsorship of City was funded by the Executive Council, which is chaired by MBZ just a couple of years earlier.
- We know the protocol is that the use of 'His Highness' without any preceding qualification (I.e. when it's clear which member of the royal family it's referring to) appears to be reserved for MBZ. And Pearce would certainly have known that. It would be second nature to him.