In the '80s and '90s, Manchester City Football Club was not one of the Premier League's top teams. Their 1976 League Cup victory stands as one of the most recent expressions of their competitive potential. However, business transactions behind-the-scenes often dictate much of what transpires on the field. Manchester City was not blessed with the necessary capital to spend on the best players in the past.
In September 2008, these fortunes have significantly changed; Abu Dhabi United Group purchased the team in a late Sunday evening deal. Now owned by this private equity firm from United Arab Emirates, Manchester City has emerged as the richest football club in the world. With this new financial backing, the team sought great players, with impressive bids submitted to secure top talent. Expensive transfers brought players like Gareth Barry, Robinho, and Carlos Tevez to the club.
The excitement of a winning sports club will no doubt prove very fiscally rewarding for Manchester in coming years. Manchester hotels will burst with tourists and sports fans who want to see this team in action. Pubs and restaurants near the City of Manchester Stadium will boom. The value of property in the area will also rise due to the the additional potential for commerce. Healthy tourism is great for the long term viability of a city.
While Manchester already has a known reputation as a great city to start a business, this new-found tourist attraction will encourage accelerated growth. Tourism revenue often represents the flow of new money into a city. This steady flow of money will fill the coffers of the pubs and hotels Manchester City fans frequent.
For those who are interested in experiencing the wealthiest football club in the world, now is the best time to plan a trip to Manchester. While this trend is still new, it will remain affordable to stay in Manchester hotels near the stadium. More tourism will mean fewer vacancies. As time passes, it will become more difficult to book the hotels Manchester hosts.
Manchester residents will all benefit from the football excitement. Nothing better promotes economic growth in a city than a winning football club. Wealthy owners will be able to bring in the quality players that this team needs in order to remain a winning dynasty. Manchester City's new position as the richest football club in the world will be great for the city's future.
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