Finance guru: Man City owners fighting battle they will ‘never win’ amid £1bn reveal
The Man City owners will “never win” their battle in the court of public opinion when it comes to their non-footballing impact on the region.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the latest controversy surrounding the ultra-rich Abu Dhabi ownership group.
The Guardian reported last Thursday (21 July) that Manchester City Council sold land in New Islington and Ancoats to the group as part of the 2014 Manchester Life scheme for £1billion, well below market value.
But no affordable housing was built on the sites and analysts from Sheffield University have queried the deal’s transparency.
The report also claims that City’s owners have paid just 4p on each £100 of revenue and moved once publicly owned assets to Jersey, a notable tax haven.
But the owners have also been credited with a great deal of regenerative work in the area and opinion will always be split on their local impact, insists Plumley.
“It’s bound to taint the legacy slightly,” he told Football Insider’s Adam Williams.
“But it cuts both ways. A lot of people are up in arms about it and a lot of people think it’s quite positive because that area is a nice space now. You will never win this battle on social media.
“With context, it shows that a lot of these takeovers transcend football. There are more things at play that need to be considered.
“We have seen them invest both in football and in the surrounding area in Manchester. Now, we’re beginning to hear similar noises from Newcastle. So, the motives aren’t exclusive to football.”
In other news, pundit predicts Marc Cucurella could hand in transfer request after journalist’s Man City update.