Are Manchester City 'Right To Buy'

There have been whispers for a while now that City's owners are considering a bid for The City of Manchester Stadium and today's Guardian has given us a hint of what plans may be afoot.

Apparently ADUG, the company that owns City are going to have a dabble in what they do best, property development. There is talk of a 60,000+ capacity redevelopment of the stadium, the relocation of the training complex and a general makeover for that corner of M11. The idea of luxury hotels and health spas is sure to draw a smirk from polite quarters and a torrent of derision from others, but is the idea so ludicrous?

Real Madrids' Bernabau Stadium was built on a inexpensive piece of land, in a dreary part of the city just after the second world war. Real estate was cheap in Francos' post-war capital and there was enough space to build a training ground more or less next door. As Real Madrid rose to be the biggest club on the planet, real estate around the stadium became highly desirable and today the whole district is a forest of high rise office blocks and luxury apartments, with views of the Estadio Santiago Bernabéu commanding a high premium. The nearby training ground was sold off some years ago for a reputed £80 Million - not bad for what was once a piece of unwanted wasteland.

Nearer to home, the area around Old Trafford has been transformed from an industrial estate to an upmarket area catering to young singles and childless couples, it's no coincidence that all the towering apartment blocks on the other side of the water are designed so their balconies are pointed firmly at the 'Theatre of Debt'.

So Khaldoon and his associates have a couple of models to work with. If people are willing to pay £1 Million for a penthouse facing the swamp, which is really an old terrace with a loft conversion, conservatory and a lean-to shed tagged on. Then imagine what a similar property facing what could be one of the worlds most striking sports arenas could command.