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Manchester City Appeals Verdict Over Premier League Financial Breaches
(MENAFN) Manchester City has been found responsible for major violations of Premier League financial regulations spanning nine seasons, prompting the club to announce plans to appeal the decision.
An independent commission determined that the breaches occurred from the 2009-10 through 2017-18 seasons. Its findings included the use of “sham” commercial partner contracts, inaccurate financial reporting and the concealment of the club’s actual financial position from auditors and football authorities.
According to the commission, these arrangements overstated revenue and understated costs by more than £900 million ($1.2 billion), creating the appearance that City was complying with financial rules. The panel concluded that without these practices, the club would have significantly exceeded spending limits imposed by the Premier League and UEFA.
The commission also upheld three of four allegations that City failed to cooperate with the Premier League’s investigation, stating that the club had taken steps to obstruct the inquiry.
Premier League chief executive Richard Masters called the case the competition’s most consequential disciplinary proceeding, saying the findings showed that City had repeatedly breached regulations over almost a decade.
The commission has yet to decide on a penalty, which will be addressed at a separate hearing. Possible measures under Premier League rules include financial penalties, points deductions and other sporting sanctions.
An independent commission determined that the breaches occurred from the 2009-10 through 2017-18 seasons. Its findings included the use of “sham” commercial partner contracts, inaccurate financial reporting and the concealment of the club’s actual financial position from auditors and football authorities.
According to the commission, these arrangements overstated revenue and understated costs by more than £900 million ($1.2 billion), creating the appearance that City was complying with financial rules. The panel concluded that without these practices, the club would have significantly exceeded spending limits imposed by the Premier League and UEFA.
The commission also upheld three of four allegations that City failed to cooperate with the Premier League’s investigation, stating that the club had taken steps to obstruct the inquiry.
Premier League chief executive Richard Masters called the case the competition’s most consequential disciplinary proceeding, saying the findings showed that City had repeatedly breached regulations over almost a decade.
The commission has yet to decide on a penalty, which will be addressed at a separate hearing. Possible measures under Premier League rules include financial penalties, points deductions and other sporting sanctions.
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