Premier League panel finds Manchester City inflated income by more than €one billion | OneFootball

The Premier League said an independent commission has found Manchester City artificially inflated income and cut costs by more than £900 million between 2009 and 2018, more than €one billion. Potential sanctions will be decided at a later hearing.

The decision outlines systematic breaches over almost a decade in what is described as the league’s most significant disciplinary case. City was found guilty of all financial rule breaches from 2009 to 2018 and of three of the four obstruction charges up to 2023.

The club arranged sham contracts with several commercial partners and used other fictitious deals to boost income and lower costs. It filed false accounts and hid its true finances from auditors and football regulators, and significantly breathed spending limits set by the Premier League and UEFA.

Sponsors were required to pay only part of their fees, with the remainder funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), the club’s owner. Had all agreements been accurately declared, the club would have exceeded Premier League and UEFA spending thresholds by a very considerable amount.

Manchester City expressed disappointment and surprise at the outcome. It insists it is innocent of the allegations and claims to hold extensive, irrefutable evidence supporting its position.

Source: El Periódico Mediterráneo

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