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Football, financials and film - where next for the Gulf's petrodollars?

For organisations which supposedly shy away from publicity, the Gulf government funds have been making some high-profile investments of late. Football club takeovers, bank bailouts and film financing - where will they pop up next?

For those in the dark, Abu Dhabi United Group recently made a swoop for Manchester City for the princely sum of 210m (perhaps they targeted the wrong Manchester team). This follows on from Dubai International Capital's courting of Liverpool FC earlier this year.

The Abu Dhabi government is also venturing into Hollywood (and, indeed, Bollywood), which could see it financing up to seven films a year.

And let's not forget the sovereign wealth funds' stakes in some of the bigger US banks, such as Citi and Merrill Lynch.

So, are we likely to see increasingly quirky investments from governments flush with cash? And what, in your considered opinion, are they likely to be? Your thoughts please...

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AUTHOReFinancialCareers UK Insider Comment
  • Jo
    John
    19 September 2008

    As a Man City fan, I can say: Go City!

  • Pa
    Paul E Becke
    11 September 2008

    Having just returned from the Middle East it is my humble observation that all these Petrodollars are actually being shrewdly spent in there own geographical location as I believe they are fed up of bailing out Western business organisations. They realise that $150 or even $100 oil will not last for ever and need to invest for the future generations of there people.

  • Pa
    Paul
    11 September 2008

    Ice cream company?

  • Hi
    Hitz
    11 September 2008

    The thing to remember is that these quirky investments are the play things of rich individuals disguised as smart institutional investments. Manchester City will start to resemble a Fantasy Football team soon because the new owners have very deep pockets

  • Ja
    James
    11 September 2008

    The real question is what calibre of films are they going to finance? Godzilla 2? Star Wars Seven? Or, god forbid, another Jaws...

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