I don't believe that is correct. ADUG, now Newton Investments, is a private company owned 100% by Sheikh Mansour. As far as I'm aware it was a vehicle specifically set up to purchase City and manage all subsequent investments in the area. It's not a sovereign wealth fund or private vehicle for the Abu Dhabi royal family.
It's always maintained that it's completely separate from the state. Der Spiegel tried to create a link between ADUG and the state by saying that state monies were paid to ADUG for sponsorships but we know the truth, which is that state central funds were paid to Etihad.
Your point about constitutional and absolute monarchies isn't relevant, as both sets of monarchs, and their families, own personal property. It's not the property of the state regardless of the type of monarchy.
I really can't help you if you fail to see the difference between our constitutional Monarch's personal wealth and the all encompassing executive, legislative and fiscal power of an absolute monarchy.
As I stated in a subsequent post, the funds to purchase City did not come from the sovereign wealth fund but from ADUG now Newton Investment, but read your post back and you'll see where the dilemma exists.
The Sovereign wealth fund is controlled by the Abu Dhabi royal family on behalf on the citizens of the UAE, but the power to invest these funds does not flow from a popular mandate, the royal family have that power because the UAE is an absolute monarchy.
Sheikh Mansour is a member of that absolute monarchy by dint of blood line, he's the President's brother, and one of the very important governmental roles he has is that he is chairman of the only sovereign wealth fund in the UAE, the Emirates Investment Authority.
As we know the Sheikh did not use the Emirates Investment authority to purchase City, he used ADUG, now Newton Investment, to do that.
Our critics will say, and with some justification, that as the Emirati royal family are the only show in town, with the monopoly of all political power and in control of the real wealth of the nation, oil, the fact that the Sheikh used ADUG and not Mubadala to purchase City is an insignificant contrivance, a fig leaf separation between personal investment and state investment, a separation that does not exist, as the source of that wealth is the same for Newton Investment as it is for Mubdala, It's the same pot, just a different scoop taken by the same man.
This is from the City Website...
CFG is majority owned by Newton Investment and Development LLC, with significant minority shareholdings held by Silver Lake (14.54%) and China Media Capital (CMC) Consortium (8.24%). From 23rd September 2008 until December 2015, City Football Group was wholly owned by ADUG, a private investment and development company belonging to His Highness Sheikh Mansour bin Zayed Al Nahyan. From 25 July 2021, CFG’s ultimate parent undertaking is Newton Investment and Development LLC, a company registered in Abu Dhabi and also wholly owned by His Highness Sheikh Mansour bin Zayed Al Nahyan.
The above won't cut any ice with our detractors, for them it's all the same with sprinkles on top.
My criticism of your letter regarding points of fact is really a complete waste of time. The Guardian, WSC, Tabas and the hateful eight would just laugh in your face were you to present it to them in person. The distinction between sovereign wealth fund money and personnel investment money, when the money comes from the same source, and is controlled by the same man and his extended family, is no real distinction at all and to pretend otherwise makes us look foolish.
We need to stop playing by their rules and adopt an entirely different stance on this.