Officials from the United Arab Emirates have warned the UK government of the potential withdrawal of billions in planned investments following the guilty verdict against Manchester City for financial breaches. This was reported by The Telegraph.
This diplomatic clash puts Prime Minister Andy Burnham in a tight spot, having previously expressed concern over a potential sale of the club by its Emirati owners.
It is reported that UAE officials are weighing up the option to pull out of a project aimed at creating a major tech hub between Oxford and Cambridge, intended to be the UK's answer to Silicon Valley.
Notably, Manchester City's chairman, Khaldoon Al Mubarak, met with Business Secretary Jonathan Reynolds just two weeks before the verdict was announced. While the government claims the meeting revolved around trade and defence issues, it's likely Al Mubarak was already aware of the impending decision from the independent commission.
Downing Street has already acknowledged that the verdict regarding City has negatively impacted UAE interest in significant investments within the UK economy and could seriously complicate relations between the two nations.
