Oil, Gas and Investment in The Premiership

The English Football Premiership news last weekend and to the end of the transfer window on Monday night, had nothing to do with football. The Premiership is the new battlefield for the oil rich billionaires.

Abu Dhabi United agreed to buy Manchester City from Thaksin Shinawatra, the former Thai prime minister and within hours of the deal, the new owners had snatched Robinho, the Brazilian forward, from Real Madrid from under Chelseas nose, for a record fee of over £30 million. Chelsea, of course is owned by Roman Abrahmovic, the Russian oil billionaire, who bought the best and acheived Premiership success in his second year as Chairman. Well done Roman. Its been done before by millionaires (Blackburn Rovers and JJB Sports Chairman Jack Walker) but money does not always produce a team, good looking football or success.

At this time Manchester City fans will just be happy with 'financial stability' and at least a trophy. Noel Gallagher, Oasis songwriter and reknowned City fan revelled in the fact that every time a Utd fan fills their car with petrol, they will be supporting the City Transfer fund ! A successful year for City in the past has been one where they have beaten Man Utd. Maybe, if the interest in this new investment is sustained, Manchester City will be the new Chelsea, threatening Utd in the Premiership and in the Champions League. Roman abramovich is not always in attendance at Chelsea games these days and perhaps this lack of interest is reflected in the results; second in every competition last season.

In their haste to show their committment to their investment t Abu Dhabi Utd almost succeeded in stealing Dimitar Berbatov from under Manchester United's nose. Relieved but worried Man Utd fans mumbled something about cash not buying class or history. Deep down they must be worried. How can the US owners, the Glazer family, compete with the massive financial surpluses of the fast-growing, oil exporting investors from the Middle East. and Russia?

Diversification of Abu Dhabi business interests from property in the Emirates to football in England is dabbling, with the sums of cash involved being small change. But I doubt Manchester City was 'their team' last season, and hope they take care with an institution which is so dear to so many.