The Manchester City "sham" Premier League contracts crisis has brought the UK's relationship with the United Arab Emirates into focus.
So much so, there are now multiple reports that the UAE - which includes the emirates of Dubai and Abu Dhabi - has suggested that major investments in UK projects could be in jeopardy should Man City be punished.
Prime Minister Andy Burnham said he would be "really concerned" to see the owners sell up, before No 10 later said in a statement that no team is "above the rules".
Emirati officials quoted by Bloomberg said "the Premier League's actions" would "have an influence on the bilateral state relationship".
That could jeopardise billions of pounds of private investment for a hi-tech Silicon Valley-style hub between Oxford and Cambridge.
The crisis blew up after City were found guilty of "serious breaches" of financial rules by Premier League appointed independent commission. The club is appealing against the findings, saying it has "irrefutable evidence" to prove its innocence.
The club was taken over by an Emirati royal, Sheikh Mansour bin Zayed Al Nahyan, who is deputy prime minister of the UAE, in 2008 for £150m. His half-brother, Mohamed bin Zayed Al Nahyan, is president.
One of the key people facing scrutiny is chairman Khaldoon Al Mubarak - who met business secretary Jonathan Reynolds at No 10 two weeks before the Premier League announced its decision.
Who is Khaldoon Al Mubarak?
Khaldoon Al Mubarak is one of the Middle East's most prominent business leaders. The 50-year-old is also an influential UAE government policymaker, and an international envoy.
He is married to wellness studio owner Nadia Sehweil. The couple met in high school and have a family together, according to Abu Dhabi-based news outlet The National.
Mr Al Mubarak's father, Khalifa Al Mubarak, was a diplomat who served as the UAE's ambassador to France.
He was assassinated in Paris in February 1984, shot on a street outside his home close to the Eiffel Tower.
The killing was linked to the Abu Nidal Organization, a violent group calling for Israel's destruction.
Gulf media has reported that Mr Al Mubarak, who was eight when his father died, was mentored by the royal family in the wake of the killing. In 2018, a street in Abu Dhabi was renamed for the late diplomat.
In an interview in 2009 with The Guardian, Mr Al Mubarak spoke of City as representing Abu Dhabi's values. "These are loyalty, commitment, discipline, long-term thinking, respect, appreciation of history."
"This is showing the world the true essence of who Abu Dhabi is and what Abu Dhabi is about," he said.
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Mr Al Mubarak sat with Donald Trump in Davos this year, signing on his Board of Peace on behalf of the UAE government.
Before entering European football, he was a key liaison with F1 when the Abu Dhabi Grand Prix joined the circuit.
Since 2008, he has been the chairman of Manchester City Football Club, the most successful Premier League team of the past decade.
When Sheikh Mansour bought the consistently underachieving club, Mr Al Mubarak was installed to oversee what became a turnaround that brought joy to an older generation of fans.
In a wide-ranging interview with City's in-house media, Mr Al Mubarak said Pep Guardiola repeatedly half-heartedly considered leaving at various points over his decade as manager, only to be persuaded to stay.
"Inevitably over these last 10 years we've had a lot of ups and some downs. And in the downs, he must have quit 100 times," Mr Al Mubarak said.
Mr Al Mubarak said that while he became close friends with Mr Guardiola he also assumed the role of the Spaniard's pseudo "psychiatrist", rescuing him in troubled times.
Mr Al Mubarak is also the chairman of City Football Group, established in 2013 to be an investor and operator of international football-related businesses, including Manchester City FC, New York City FC, and Melbourne City FC.
The group, valued at more than US$6bn (£4.53bn), now has 13 clubs within its global network.
He is the managing director and group CEO of Mubadala, a $330bn (£249.18bn) sovereign investment firm headquartered in Abu Dhabi, with assets in more than 50 nations across six international offices.
He has headed the company since it started in 2002 and overseen financial returns for Mubadala's shareholder, the government of Abu Dhabi.
Mr Al Mubarak also chairs the Board of Abu Dhabi Commercial Bank and is vice chairman of investment company MGX.
He is on the board of Abu Dhabi National Oil Company (ADNOC), L'IMAD Holding Company, and G42, the Abu Dhabi-headquartered global AI company.
He is also a member of JP Morgan's International Council.
Mr Al Mubarak holds the mandate of Chairman of the Executive Affairs Authority, the government agency that provides strategic policy advice to the president of the UAE.
He is also the presidential special envoy to China and leads several country files on behalf of the UAE.
In January 2024, he became a founding member of the Artificial Intelligence and Advanced Technology Council (AIATC), of which he was appointed secretary general.
Mr Al Mubarak played a key role in establishing New York University Abu Dhabi and serves on the New York University Board of Trustees.
In 2013, he was made a Commander of the Order of the British Empire (CBE).
Mr Al Mubarak has a degree in economics and finance from Tufts University in Boston, US.
(c) Sky News 2026: Who is Khaldoon Al Mubarak, Manchester City's chairman?
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