£55m housing loan to Manchester City owner investigated, made while Burnham was mayor
Loan from housing fund examined
In 2017, three firms ultimately controlled by Sheikh Mansour bin Zayed al-Nahyan received £55m in loans. Mansour is Manchester City’s owner and the United Arab Emirates’ vice-president and deputy prime minister.
The loans came from a fund operated by the Greater Manchester combined authority during Burnham’s time as mayor. Councillors in Greater Manchester have said they intend to investigate loans to property companies made during that period.
Burnham’s remarks drew scrutiny
Burnham, formerly Greater Manchester’s mayor, faced accusations of siding with the Abu Dhabi owners after Manchester City was found guilty of a nine-year breach of financial rules. The club was found to have boosted its income by £900m.
Broader questions over transparency
The prime minister has faced weeks of scrutiny over links to Manchester City’s wealthy owners. A review of the fund and the loans could bring further questions for Burnham. The prime minister has promised “full transparency” as scrutiny continues.
Key points
- Councillors plan to investigate a £55m loan linked to Manchester City owner Sheikh Mansour.
- Three companies ultimately controlled by Mansour received loans in 2017.
- The funding came from a Greater Manchester authority fund while Burnham was mayor.
- Manchester City was found guilty of a nine-year financial-rules breach involving £900m in income.