£400m sponsorship you say…
Etihad lost money early, first profited in 2011, then lost ~$5.6bn from 2016–19 via failed airline stakes, plus Covid losses. Under ADQ it recovered: $25m profit in 2022, rising to a record $698m in 2025 on $8.4bn revenue.
Manchester City's principal sponsor say they are considering taking legal action against the Premier League.
Etihad Airways is the Abu Dhabi state airline which has sponsored City since 2009.