Manchester City is now completely owned by Sheik Mansour, a member of the Abu Dhabi royal family, the club has confirmed.
“Manchester City can confirm that a transaction involving 10 percent of the shares of Manchester City Football Club Limited has been completed,” a statement on the club’s Web site said Wednesday.
The 10 percent of shares, previously owned by Worldwide Investments Limited, was transferred to ADUG, the company of Sheik Mansour bin Zayed Al Nahyan, for an undisclosed sum.
“As a result of the transaction, Manchester City Football Club is now 100 percent owned by His Highness Sheik Mansour,” the statement continued.
Since taking control of the club last September, Mansour’s wealth has transformed the fortunes of the underachieving club. City spent more than £120 million on new players in the close-season in an effort to break into the Premier League’s top four and qualify for the Champions League.