3 days ago
1
Manchester City have been found guilty of serious breaches of the Premier League’s financial rules following an investigation into the club’s conduct over a nine-season period.
An independent Commission established by the Premier League found the club guilty of all charges relating to serious financial breaches and upheld the majority of allegations concerning City’s failure to cooperate with the League’s investigation.
The findings cover the period between the 2009/10 and 2017/18 seasons.
Manchester City have the right to appeal the Commission’s findings and have until Friday, October 2, to exercise that right.
The Premier League Board has said it intends for the entire process, including any appeals and the publication of relevant decisions, to be concluded as soon as possible.
City Accused of ‘Sham’ Commercial Agreements
According to the independent Commission’s findings, Manchester City arranged what were described as “sham” contracts with a number of its commercial partners during the nine-season period.
The Commission found that the agreements misrepresented the true arrangements between the parties and were used to artificially inflate the club’s reported revenues and reduce its costs.
The Commission also found that City relied on other “sham” agreements in its commercial dealings.
The findings represent a major development in the Premier League’s long-running investigation into the financial affairs of the reigning English champions.
Misstated Accounts and Financial Disclosure
The independent Commission further found that Manchester City filed misstated accounts and concealed the true state of the club’s finances from its auditors and football regulators.
The findings raise serious questions about the financial information supplied by the club during the period under investigation and its compliance with the Premier League’s financial regulations.
The Commission also concluded that Manchester City was significantly in breach of both the Premier League’s and UEFA’s spending limits.
Majority of Cooperation Charges Upheld
The Commission also ruled against Manchester City in relation to its conduct during the Premier League’s investigation.
The club was accused of breaching its duties of cooperation and acting in accordance with its obligation of “utmost good faith” towards the League.
Of the four alleged breaches in this area, the independent Commission upheld three.
The finding means the Commission concluded that City failed to meet its obligations to cooperate fully with the Premier League during the investigation.
Appeal Could Extend Process
Despite the findings, the matter is not yet fully concluded.
Manchester City have the right to appeal the independent Commission’s decision and must exercise that right by Friday, October 2.
Any appeal could have significant implications for the timing of the final outcome, with the Premier League Board stating that it wants the entire process, including any appeals and the publication of relevant decisions, completed as soon as possible.
The Commission’s findings mark a significant moment in the Premier League’s efforts to enforce its financial regulations and maintain competitive and financial standards among its clubs.
The eventual outcome of any appeal will determine the next stage of the case and could have major consequences for Manchester City.
English (US) ·