The blue side of Manchester could be in for a massive cash injection after a UAE group signed a memorandum of understanding with the soccer club.
According to FourFourTwo.com, the Abu Dhabi United Group for Development and Investment aims to make Manchester City the biggest club in the Premiership within four years.
The company is buying the club from the disgraced former Thai prime minister Thaksin Shinawatra, who will remain as an honorary director.
This looks to be another example of how the UAE capital is trying to diversify its investments as well as build its international standing. The likes of Saadiyat Island, which will be home to branches of the Louvre and the Guggenheim museums, will enhance its cultural reputation, while adding Manchester City to its investments, which also include the likes of Citibank, will give it some sporting credibility. The AD company has promised to buy players but only time will tell if it can deliver on its promise to make City a soccer powerhouse.
Update: Almost as a statement of intent, City have set a British transfer record by signing the Brazilian forward Robinho from Real Madrid for £32.5m (€39.8m, $58m, Dh213m).by