Ferrari investors backing UAE’s young soccer talent
Contract summary
Length of contract: 4 yearsAnnualised value: US$2.5 million
Overall value: US$10 million
Manchester City chairman Khaldoon Al Mubarak's Mubadala Development Company, which owns five per cent of the Ferrari Formula One team, has signed two major soccer sponsorships, backing the United Arab Emirates national team for four years and the Fifa Club World Cup UAE 2009 and 2010.
The partnership will have a cash element, but will also see Mubadala invest in the development of world class stadium facilities, as well as supporting youth development programmes and campaigns to raise participation in soccer.
"Mubadala is proud to support football in the UAE," said Al Mubarak, chief executive and managing director of Mubadala. "We are committed to playing an active role in facilitating the growth of the sport across the nation, from developing essential infrastructure and facilities through to supporting the UAEFA in its ambitions to create a talent pool for years to come.
"Our goal is to inspire young people – our nation's future leaders – to participate and learn the important life and leadership skills associated with playing sport. We hope to encourage many young people to participate in football over the coming months, to realise first-hand the countless opportunities awaiting them."
Mohammed Khalfan Al Rumaithi, president of the UAE Football Association, added: "We are very pleased to have Mubadala's support and commitment to football and youth development in the UAE. Football is the nation’s most loved sport – but we need to engage the youth and shape their skills early to ensure we have the talent to compete with the world's best in the future."
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