Press reports revealed that the UAE government has issued a warning to its counterpart, the United Kingdom, in light of potential sanctions against Manchester City due to its conviction for breaching financial regulations.
The Premier League had issued an official statement last Tuesday announcing Manchester City's conviction on 114 out of 115 charges related to breaches of financial rules between 2009 and 2018.
Manchester City appealed against the league's decision, as stated in an official announcement on Friday (Click here for details).
Meanwhile, press reports are circulating regarding the potential sanctions facing the club, which could range from a hefty fine or point deductions to relegation from the Premier League, or even exclusion from professional football.
Spanish newspaper "Marca," citing the specialized financial agency "Bloomberg," reported that the UAE government warned its UK counterpart that it might be forced to scale back its investments there depending on the severity of the sanctions imposed on Manchester City.
It clarified that Emirati officials alerted the British government that the penalty decided by the independent commission against Manchester City could negatively affect their willingness to make massive investments and commit to major projects in the United Kingdom.
It noted that, according to data, the UAE has invested more than £30 million in vital British sectors such as defense, science, and technology over the past five years, and that a summit between the two countries is scheduled for October.
An Abu Dhabi investment fund has owned Manchester City since 2008 until now.
On the other hand, dissatisfaction prevails among members of the British government regarding the UAE's stance on the major scandal involving Manchester City, as they believe the Arab side was aware of the violations committed by the club during the years mentioned in the charge sheet, yet insisted that Sky Blue's position was sound.