Sheikh Mansour bin Zayed Al Nahyan – owner of Manchester City – is closing in on becoming the new owner of The Telegraph and Spectator, according to reports.
The 53-year-old is widely renowned for his financial interests in sport, however his business portfolio reaches the world of fuel, property, and existing worldwide media outlets beyond traditional print news.
Sheikh Mansour has been the owner of Manchester City since 2008, while his interests and investment in the club has developed into a global brand through the ownership and growth of the City Football Group portfolio.
Following on from his ownership of Abu Dhabi Media Investment Corporation – which partnered with British Sky Broadcasting to establish Sky News Arabia, the latest development has seen Sheikh Mansour involved in the takeover of two of Britain’s print and digital media outlets.
As relayed by Prolific North, UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan could be about to become the new owner of both The Telegraph and The Spectator.
Abu Dhabi-backed investment fund RedBird IMI said on Monday that it had “reached an agreement to provide a package of loans to the Barclay family allowing them to pay off their debt to Lloyds Bank in full and bring the Telegraph and Spectator out of receivership.”
RedBird IMI is a joint venture between US fund RedBird Capital Partners and Sheikh Mansour’s International Media Investments (IMI).
With regards to The Telegraph deal, RedBird IMI said it will provide a £600 million loan, secured against the Telegraph and Spectator, and “a loan of a similar amount secured against other Barclay family businesses and commercial interests,” as relayed by Prolific North’s report.
RedBird IMI would then have an option to convert the loan secured against the Telegraph and Spectator into equity. It said it “intends to exercise this option at an early opportunity.”
Sheikh Mansour has been in attendance at Manchester City matches on two occassions since his takeover of the club from Thaksin Shinawatra in 2008; a home clash against Liverpool in 2010, and the 2023 UEFA Champions League final in Istanbul last season.
Mansour’s investment and guidance of the reigning Premier League champions has seen them reap the highest of footballing rewards, claiming multiple English top-flight titles, domestic cups, and the European Cup against Inter to complete a historic Treble last season.
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