DEVELOPERS are wanted to bankroll the £300m transformation of Sportcity in Manchester.

Regeneration chiefs want someone prepared to finance and build a world-class leisure facility on part of the site which was earmarked for a doomed supercasino.

As revealed in the M.E.N. earlier this month, the new mega-rich owners of Manchester City are rumoured to be interested in the 38-acre site.

The Abu Dhabi Group, who completed their takeover last week, could also buy the council-owned City of Manchester Stadium itself.

Manchester council and regeneration body New East Manchester are inviting proposals from developers, but have stressed the need for the 'highest standards' of architecture and design.

If the development goes ahead, Sportcity will become one of the biggest urban visitor destinations in Europe.

It could raise more than £500m for the city's economy in its first 10 years.

Council leader Sir Richard Leese said: "This site offers the opportunity to develop a visitor attraction that will be both nationally and internationally significant. It is a prime location just one and a half miles east of the city centre.

Proposals

"We are looking for proposals that would generate about three million additional visitors to Sportcity each year.

"It is also important that the proposals show the intention to deliver the highest standards . . . to create a high-quality environment that will complement and enhance existing facilities."

Manchester won a national competition to host Britain's first supercasino, which would have created 3,000 jobs.

But the idea was defeated in the House of Lords and Gordon Brown dropped the idea after taking over at Number 10.

A ministerial task force was charged with coming up with an alternative scheme.

The council has said only a huge leisure facility could bring as many jobs as the casino and rejected other options including a retail development, homes, industrial uses, offices and a business park.

Eddie Smith, New East Manchester's chief executive, said: "This piece of land is at the heart of one of the most important regeneration areas in Britain.

"This is a unique opportunity to create a world class tourist attraction. We look forward to receiving some very ambitious and creative proposals."

Sportcity is also home to the Velodrome and officials from Manchester Leisure and New East Manchester are currently developing proposals for a major indoor BMX facility.

The Abu Dhabi Group's £200m takeover has made City officially the richest football club in the world. In charge is Sheikh Mansour Bin Zayed Al Nahyan, whose family is worth an estimated £560bn.