
Originally Posted by
Haroon
Emirates Airlines on paper is owned by Dubai but they had financial problems during the recession just like other airlines so Abu Dhabi pumped in money and now owns the majority stake in both Emirates Airlines and Etihad Airways although the identities are still separate for obvious reasons.
The Abu Dhabi Group also owns The Burj Dubai which is now officially known as Burj Khalifa (named after the Emir of Abu Dhabhi). Yes, it is not officially seen in the papers but Abu Dhabi owns all the major landmarks of Dubai.
The loan payment on behalf of Dubai that was paid is "not" a loan to Dubai. It is a payment made. End of. The second installment is due in March and once again it is expected that Abu Dhabi will bail out Dubai.
The Abu Dhabi group also owns the Empire State Building. They are the biggest real estate owners in NY with multiple investments that are not seen in the general public. It is by far the world's largest conglomerate and the most financially powerful single entity in the world right now.
What one can decipher from all this is that the state of Dubai is the front-end vehicle (another face for Abu Dhabi) while they [Abu Dhabi Group] invest in Milan slowly and steadily through the face of Dubai. As per UEFA restrictions it is not possible for ONE owner to own two teams. There was huge controversy about this some years ago when Roman Abramovich was indirectly using a Russian club (forgot the name ... maybe Spartak) to acquire players and then selling them to Chelsea. I believe there was something going on with MSI [Tevez and Mascherano in Wet Spam United] as well.
In that same token it is not possible to own Shitty and Milan directly but it is possible to bend the rules and own Shitty on the outset but pump money into Milan indirectly.
Dubai doesn't have "cash" money of their own per se. They are not an oil rich state anymore. They have the oil but not like other states. What they have is general trading and a very good infrastructure in place.
The sponsorship deal is good. But, this is not money coming directly from Dubai even though it seems to be the case.
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