By Kieran Maguire

10th Jan, 2022 | 6:00pm

Kieran Maguire: Man City's oil money is drying up as new Abu Dhabi deal struck

The owners of Man City are looking to diversify their income streams as they are aware that oil is a “wasting resource”.

That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the City’s latest commercial deal.

The club announced last Thursday (6 January) that they had signed up with Abu Dhabi-based Masdar as their new renewable energy partner.

In an accompanying statement, City claimed they want to “play [their] part in delivering a sustainable future.”

City owner Sheikh Mansour is chairman of Abu Dhabi’s Supreme Petroleum Council and his family have earned billions in the fossil fuel industry.

But Maguire claims that is no surprise to see City’s oil-rich overlords explore alternative avenues.

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“I think City are looking for complementary partners rather than substitute partners,” he told Football Insider‘s Adam Williams.

“I think they would have received more criticism if they went with a petro partner.

“What we are seeing from a lot of organisations in the Middle East is a desire to diversify.

“They are fully aware that carbon fuel is a wasting resource. There is a limited supply.

“Alternative energy is, therefore, something I imagine they will be very happy to engage with.”

City also announced a deal with UAE-based luxury hotel brand Emirates Palace last week.

The Premier League champions scooped more than £246m in commercial income over the last recorded financial year.

In other news, ex-Premier League referee hails “terrific” decision as controversial Gabriel Jesus footage emerges from Man City.