Manchester City Council made £3m from City owners' developments

Summarised from BBC Manchester's report · Updated 13 Oct, 08:19 · Archive

Manchester City Council has received almost £3m from a deal to share profits from developments built by Manchester City's owners.

Manchester City Council has received almost £3m from a deal to share in the 'super-profits' from developments built on its land by Manchester City's owners. The agreement, struck in 2014, meant the council would receive payments if the profits made by Abu Dhabi United Group (ADUG) on schemes in Ancoats and New Islington exceeded a certain level.

The council said it expected another payment soon and that the regeneration had been worth £1.25bn to the city. However, Prof Adam Leaver, co-author of a 2022 University of Sheffield report into the council's relationship with ADUG, said commercial secrecy around the arrangements meant it was hard to know if the council got the best value it could.

Read the report

• What Manchester's 'super-profit' deal with City owners has paid out so farManchester City Council has made almost £3m from the "super-profits" of Man City-linked developments.BBC Manchester · 13 Oct, 06:12

In this story: Manchester City Council · Abu Dhabi United Group · Sheikh Mansour bin Zayed Al Nahyan · Manchester · Ancoats · New Islington

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