PL charge City for alleged breaches of financial rules

Dribble said:
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I think you're getting a little mixed up & already know the answer which you've looked up because you mentioned Europe & Africa first? \0/

It was the UAE's intention to attract inward investment opportunities to their global investment portfolio to be managed alongside its sovereign wealth fund, underpinned by its oil wealth, as a way of diversifying away from its oil based economy.

This is partly what attracted Sheikh Mansour to buy a PL Footbal Club.

In the 90s/2000s Abu Dhabi realised the need to diversify, so they chose financial, banking & investment portfolio management as a way to attract inward investors, to whom they'd offer a full suite of financial services which they'd manage, underpinned by UK Law.

They were struggling to attract that inward investment regardless of the vast amounts of monies they paid marketing & advertising firms to promote them as a safe, credible, responsible investment opportiny for individuals, corporate entities & governments who could attain generous returns on their investments. A Switzerland in the Desert if you wish.

Circa 2007, the idea was floated to Abu Dhabi to prove their global finance capabilities by buying a sports franchise & turning it into a massive business success, which would not only prove how business savvy they were, but promote Abu Dhabi as a credible place to entrust with global investment funds in the process.

Roman Abramovich was cited as an example of someone who was relatively unknown until he bought Chelsea & turned them into a global football superpower.

Convinced, financial fixer Amanda Staveley was appointed to find a suitable PL Club, & the search began with Arsenal, moved onto Newcastle, then Everton & ended up at Manchester City who Sheikh Mansour purchased to achieve this aim.

It proved to be a masterstroke, which succeeded beyond all expectations. I recall a report on how pleasantly surprised Abu Dhabi were when they attended a major global finance convention, where most in attendance were fascinated by the Manchester City story, & subsequent events first & investment opportunities second.

Manchester City essentially put Abu Dhabi on the global finance map as somewhere to safely invest your money, which would be expertly managed, giving fantastic ROI's. Being part of an investment consortium who bailed out Barclays after the global crash of 2008, further enhanced our business savvy status.

The pimple you keep picking at is the UAE's inward investment offerings to invest in UAE specific projects? The answer's not specifically or limited to, & after our last exchange I don't wish to get embroiled in more nitpicking of irrelevant minutiae, whilst you completely ignore the bigger picture.

I'm pretty sure you've already swotted up on the following, but here they are again for citation purposes. Knock yourself out. ¯⁠\⁠_⁠(⁠⊙⁠_⁠ʖ⁠⊙⁠)⁠_⁠/⁠¯

https://www.eia.gov.ae/

https://www.adgm.com/setting-up/investment-banking/overview

https://www.theguardian.com/business/2009/jan/25/amanda-staveley-barclays-manchester-city

https://www.independent.co.uk/news/...s-probed-over-ps7bn-arab-bailout-7982699.html
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:)
 
Dribble said:
The Saudis are desperately trying to bring in sweeping reforms, but it's seriously difficult to do when surrounded by religious enemies who want you dead, & the constant wars that keep erupting around them.

The current conflict in Palestine, & the US/UK attacks on Yemen in response to Yemeni piracy & them attacking US/UK warships are a case in point. Things are never straightforward when religion is thrown into the mix. \0/
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When we were first taken over I read an article by a Canadian journalist that talked about the issue of modernisation in the Middle East and the push back from the religious right over there.
The article was mostly about Formula 1, as I think it was around that time that they had the first Abu Dhabi Grand Prix, but City were mentioned in passing as part of the various international sports that were being invested in by Middle Eastern owners.
The gist of the article was saying the reason that there was more and more investment in things like sport and entertainment was partly to promote the region to the wider world but mostly to allow the population of these countries to have some access and view into the wider world.
It talked about how most of the leaders of these countries were western educated and they could see that the particular brand of religious extremism popular in that part of the world isn't going to allow them to become a tourist destination easily and would eventually hold them back in their financial diversification efforts.
The trouble they have is that the Imam's still have lots of power and cultural sway over the populace but if it becomes easier for people to see and meet other cultures from around the world then that would erode the power that the religious leaders have, kind of in the same way that the most racist people you meet live in areas with very few non-white people, it's easy to vilify and be scared of what you don't know or understand.
I've no idea how it's working out for them or even how true it is but it seems to link in with what you have said about Saudi Arabia. It was certainly more interesting and nuanced than the various articles about sportswashing or whatever else the UK press were screeching about at the time.
 
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