Abu Dhabi United Group

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The Abu Dhabi United Group for Development and Investment (ADUG), مجموعة أبوظبي الاتحاد للتنمية والاستثمار,' is a United Arab Emirates (UAE) private equity company owned by Sheikh Mansour bin Zayed Al Nahyan,[1] member of the Abu Dhabi Royal Family and Minister of Presidential Affairs for the UAE.[2][3] The Group was formed as the investment vehicle for the takeover of Manchester City Football Club in 2008.

It was initially thought that Abu Dhabi United Group was a part of Abu Dhabi Investment Authority, a sovereign wealth fund owned by Abu Dhabi. But Abu Dhabi United Group had denied connection to the government of Abu Dhabi.[4] In 2011, Manchester City qualified for the Champions League and won the FA Cup. In 2012, the club won the Premier League, their first league title for forty-four years.

The Group was founded in the summer of 2008, as Sheikh Mansour looked to take over Manchester City Football Club from the former Prime Minister of Thailand Thaksin Shinawatra[5] and completed the deal on 1 September 2008.[6]

The US-educated Sulaiman Al-Fahim was the public face of ADUG during the initial phase of the takeover and is often described as the "Donald Trump of Abu Dhabi".[7] The takeover was completed on 23 September 2008.[8] It was reported that the hierarchy were unhappy with some of Al Fahim's unrealistic statements and he was later relieved of public duties which was given to Khaldoon Al Mubarak who has been chairman of Manchester City since 2008.

ADUG also have an extensive property portfolio in the United Arab Emirates and abroad.[9] Aside from Manchester City F.C., ADUG have amassed investments totalling nearly £1 billion in Manchester, mainly in property and higher education sectors.[10][11][12] Masdar and Mubadala Developments, sister investment vehicles of Abu Dhabi managed by Manchester City chairman Khaldoon Al Mubarak also holds numerous investments which are linked to ADUG.[13]

See also[edit]

References[edit]

  1. ^ "Company Overview of Abu Dhabi United Group for Development and Investment". Bloomberg Businessweek. Retrieved 2012-06-27. 
  2. ^ Randall, Colin (9 September 2008). "Mansour to replace Man City directors". TheNational.ae. Archived from the original on 13 September 2008. Retrieved 2008-10-01. 
  3. ^ "UAE Federal e-Government Portal - Ministry of Presidential Affairs". government.ae. Archived from the original on 4 June 2008. Retrieved 1 October 2008. 
  4. ^ "Manchester City's new owners put national pride before profit". Guardian Media Group. 1 September 2008. Archived from the original on 28 October 2008. Retrieved 11 November 2008. 
  5. ^ "Manchester City's new owners put national pride before profit". The Guardian. 1 September 2008. Retrieved 2011-09-05. 
  6. ^ "Manchester City Takeover". ArabianBusiness.com. 2 September 2008. Retrieved 2 September.  Check date values in: |accessdate= (help)[dead link]
  7. ^ "Arabian might at Eastlands". BBC Sport. 2 September 2008. Archived from the original on 18 September 2008. Retrieved 1 October 2008. 
  8. ^ "Hughes to hold City owner talks". bbc.co.uk. 11 November 2008. Retrieved 11 November 2008. 
  9. ^ "Manchester City owner buys St Regis hotel on Saadiyat Island from TDIC". The National. 4 December 2014. Retrieved 2015-03-10. 
  10. ^ "Abu Dhabi United Group financing Manchester homes". BBC News. 24 June 2014. Retrieved 2015-03-10. 
  11. ^ "Major new partnership will deliver thousands of Manchester homes". Manchester City Council. 24 June 2014. Retrieved 2015-03-10. 
  12. ^ "COMMENT: Why is Abu Dhabi investing so much in Manchester?". Daily Express. 25 November 2014. Retrieved 2015-03-10. 
  13. ^ "3000 room student village to be developed at The University of Manchester". University of Manchester. 18 December 2014. Retrieved 2015-03-10.