Manchester City’s billionaire owner will help fund the - TopicsExpress

Manchester City’s billionaire owner will help fund the redevelopment of Real Madrid’s Bernabeu stadium after a company he heads struck a £350million investment deal with the European champions. Sheikh Mansour is chairman of International Petroleum Investment Company (IPIC), which uses Abu Dhabi’s wealth to fund projects around the world. Those now include the renovation of the iconic ground over the next three years after the confirmation of a ‘long-term strategic partnership’ with Real. But Sheik Mansour’s role will not infringe on UEFA’s rules over club ownership because the deal does not mean the Abu Dhabi royal family will hold a stake in Real. Instead, in return for the cash Real will promote the emirate globally.

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