Sunday, September 5, 2010

More bits and pieces on the Sportcity development

The time of an announcement concerning the proposed leisure destination at Sportcity is nearing. It must surely come ahead of the search for a partner to take the leisure destination idea forward, scheduled to begin in October, as discussed in an earlier addition to this blog.

And the stadium development is now in the news, too: this morning's News of the World had a story on the stadium development. Neil Ashton claims, as Subterranean Homesick Blue (under the guise of Dyed Petya) has already suggested on the Bluemoon message board, that the club is looking to a capacity of 75,000 or so with a view to being the venue for a 2018 World Cup semi final if the event takes place in England. Meanwhile, James Ducker of The Times suggested last week that the land earmarked for a new training facility in West Openshaw now comprises 80 acres: the figure previously confirmed by the club publicly was 59 acres (no link as the article is behind a pay wall). Assuming Ducker is right, this is extremely interesting.

I may well return to these matters in the future, but meanwhile the continuing progress of events has led me to muse a little further on the development generally.



In particular, I want to focus on three particular areas:

1. POTENTIAL PARTNER FOR LEISURE DESTINATION

In terms of the partner for the leisure destination, the evidence seems to point to an Abu Dhabi property developer called Mubadala Development Company. It's not owned by Sheikh Mansour but one of the other royals; however, the CEO is a familiar face, as you'll see here. I'd suggest that this connection could be very telling.

Elsewhere on that site, there are details of their expertise in the real estate and hospitality sector. There's also a news item with details of a JV with MGM Mirage to develop the MGM Grand leisure complex in Abu Dhabi as well as work together on other projects worldwide when they come up. My guess is that there's a reasonable chance that this may be one such project.

2. SPORTS EDUCATION AND TRAINING FACILITIES

In terms of the training facility in West Openshaw, I'd suggest that we may be looking to a body called the World Academy of Sport, whose website is here.

This body has its HQ in Abu Dhabi but a strong presence in Manchester and it trails itself as making Manchester the International Sporting Knowledge Capital City. On the site is a story about Princess Haya becoming a patron. She's from the Jordanian royal family but, more pertinently here, is the City owner Sheikh Mansour's wife's step-mother, I believe, so again an interesting connection.

And in the context of the Council/New East Manchester/MCFC cooperation, it's interesting to note that Sir Howard Bernstein is on the WAoS International Advisory Board.

I noted elsewhere recently that the WAoS has strong links with Manchester University - for instance, its Executive Centre "is co-operated by IF Education and The University of Manchester based inside the Manchester Business School".

It really isn't much of a stretch, therefore, to envisage the presence of the WAoS - via Manchester University - at the training and sports education facilities operated by City. As already noted, this would do two things.

Firstly, it would enhance the concentration of sports bodies and facilities in and around Sportcity: already, as the Sportcity website makes clear, the area hosts is the largest concentration of sporting venues in Europe, acting as home to the "National Squash Centre, the 6,500 seat Manchester Regional Arena, English Institute of Sport, Manchester Velodrome and the Tennis Centre as well as a state-of-the-art gymnasium" in addition to the City of Manchester Stadium. A purpose-built BMX Arena will be added soon. The title of "largest concentration in Europe" is now under threat from the Olympic Park in Stratford, whose legacy facilities post-2012 will no doubt be highly impressive. However, I have a hunch, and it's nothing more at this stage, that the Openshaw West development, in conjunction with the WAoS, may help Manchester to continue with its boasts.

Secondly, with the rumoured family-friendly theme of the visitor attraction, a strong educational and community element to the new training facility would help to build an image of City as a community-driven club trying to give something back to the area in which it's located. This is extremely important to those who count back in Abu Dhabi.

3. PLANS FOR REDEVELOPMENT AS A REASON FOR BUYING CITY

None of this is new information. Some of us have known that developments such as these were on the cards for quite some time. I was initially sceptical before the takeover, when it was fairly obvious to seasoned observers that - despite denials - the Thaksin regime, and thus the club itself in terms of its future, was in serious trouble. What I suppose I should call a "usually reliable source" told me that we'd be rescued by an Arab buy out. I was sceptical, but he insisted he was right, and he was. He also insisted that the deal was a "property deal", centring on the redevelopment of land around the ground.

When news of the takeover broke, the immediate manifestation of our new wealth was that crazy deadline day on 1 September 2008, which few City fans will ever forget. But the deal hadn't even been completed then: that happened on 23 September, a day resonant in City history for other reasons ("Chance at the far post - that's just marvellous stuff!").

It soon became evident, however, that my source had been correct. First, on 26 September, Manchester City Council issued a Prior Information Notice, which described plans for a 'visitor destination attraction of national or international significance', replacing the scrapped plans for the so-called Super Casino.

[As an aside, I was livid when the scheme was pulled rather than resubmitted to the Lords with a few concessions after they voted against it. I really thought Manchester had been shafted by the government, but now we're likely to get something much bigger and better. And I reckon that the Sheikh probably wouldn't be here if the Casino had gone ahead - there would still have been available land where the North Car Park is, but I'm not sure he'd have felt the same with a more limited opportunity to develop and a casino right in the middle of the site. City - and Manchester - got very, very lucky!]

This was reported in the Manchester Evening News four days later, with the City owner specifically linked as an interested party.

When the City takeover happened, a US lawyer called Marty Edelman was reported as having joined the board and even though he's not on the MCFC official site now, I'm not sure that means anything. He has extensive experience in huge international property JVs. Anyway, the firm he works for has a London office. However, he's based in New York.

Moreover, he's very eminent, described by New York property magazine The Real Deal as "one of the top real estate attorneys in the city". Now, in a legal centre as important as NY, to be be recognised as one of the top men in one of the foremost legal fields is quite something.

Edelman specialises in complex real estate transactions, including international property joint ventures with values often in the hundreds of millions or even billions. With him having no known prior involvement with, or interest in, football, it would have been a bizarre move to invite him onto the City board back in October 2008 - unless there was always going to be a large scale international property joint venture of which City were going to be a part.

* * *

So the signs were there early on. But now, finally, we seem close to having confirmation, at least in outline if lacking in detail, of what's going to happen. I find it very, very exciting - because I expect it to show that MCFC's Abu Dhabi investment is long-term in nature and it's important to the owner that the club should prosper in the interest of a wider strategy. Bring it on!

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