GMCA Investigates £55 Million Loan to Manchester City Owner

The Greater Manchester Combined Authority (GMCA) is investigating a £55 million loan granted in 2017 to three companies controlled by Sheikh Mansour bin Zayed al-Nahyan, the owner of Manchester City. The funds were part of a housing initiative for the Manchester Life development, which originally aimed to create 6,000 homes.

The probe follows allegations that former Greater Manchester mayor Andy Burnham met with the club's owners at the Etihad Stadium shortly before the loans were approved. This meeting was previously absent from public records. John Leech, a Liberal Democrat councillor and chair of the GMCA's overview and scrutiny committee, questioned the necessity of providing public funds to one of the wealthiest families in the world.

While the GMCA confirms the loans were repaid in full and the broader fund has since created 11,000 homes, the authority has not disclosed the specific eligibility criteria used for the Abu Dhabi-linked companies or the interest rates applied to the loan.