Manchester City owner Sheikh Mansour loses 440 million pounds

January 18th, 2009 - 1:40 pm ICT by ANI  

AC Milan

London, Jan.18 (ANI): Manchester City owner Sheikh Mansour has lost 440 million pounds, which is nearly double the amount that he is expected to fork out for purchasing Brazilian soccer ace Kaka.
The Arab tycoon, who hopes to sign AC Milans Kaka for 243 million pounds, was stunned after Barclays shares crashed by 25 per cent, wiping 2.7 billion pounds off the banks market value.
The Sheikh, 38, had plunged 3.5 billion pounds of his estimated 33 billion pound fortune into Barclays last October, giving him a 16.3 per cent stake, reports The Sun.
You wake up preparing to make history with the biggest ever offer to a footballer. Hours later, youre down 440 million pounds, a bank insider was quoted, as saying.
Abu Dhabi royal Mansour bought Man City, managed by Mark Hughes, last September raising hopes of an influx of star players.
The Sun revealed yesterday that he hopes to take Kaka, 26, to the club by splashing 108 million pounds on a transfer, another 108 million pounds on the attackers wages and 27million pounds in fees. (ANI)

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