Developer urges Rayner to examine £55m loans to Manchester City owner
A Manchester property developer has urged Housing Secretary Angela Rayner to investigate £55 million in loans made by Greater Manchester’s authority to Abu Dhabi United Group, the owner of Manchester City. The developer questions whether the loans were offered on favourable terms and why they did not require affordable homes, raising scrutiny of deals made when Andy Burnham was mayor.
The loans were made in 2017 to support thousands of homes in east Manchester; a letter to Rayner says they represented 97 per cent of a taxpayer-funded investment scheme by March this year. Conservative politicians have criticised Rayner for not publicly responding to the request, while the authority says the loans are being repaid in full and have supported development at no cost to taxpayers. ADUG also says it invested its own capital first and repaid the loans.
- Developer calls for inquiry into £55 million of loans to Manchester City’s owner.
- The loans were made under Andy Burnham’s mayoralty.
- Manchester’s authority and ADUG say the loans are being repaid in full.
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Originally published by Daily Mail as “Angela Rayner ‘is dodging probe into Andy Burnham’s £55m homes loans to Man City owner’”.