City seeking cash boost

Manchester City chief executive Alistair Mackintosh has confirmed the club are searching for money men to plough cash into the club.

City have a debt of around £60m (€89m) and Mackintosh believes the club’s 250-year lease on their stadium is an attractive carrot for investors – but not for property speculators.

Mackintosh told the club’s official website www.mcfc.co.uk: “We are always open to the idea of new, appropriate investment. We continue to look for appropriate parties that might contribute to this football club.

“Money is money, as long as it is from an appropriate individual who continues to be a custodian of this club, and who keeps in mind our links with the community and in particular our fan base.

“It shows the strength of the Premier League at the moment that there is so much interest from outside.”

City have already taken out a £44m (€65m) securitisation loan against the stadium – the club value the leasehold of the ground at around £150m (€221m).

Mackintosh added: “Anyone looking at City will see that the ground is leased off the council, in the first instance, although once they start to understand the transaction they will see that it’s a 250-year lease.

“Therefore it can be used as security, as we have done for securitisation. For all intents and purposes we have freehold ownership.

“I don’t want someone who wants to look at this football club as a property play, I want them looking at this as a football club. This is our home, I want it to be owned by Manchester City Football Club, not an external investor who wants to sell it on.”