Man City accused of shady finances
Manchester City was accused by the Premier League on Monday of providing misleading information about its finances over a nine-year period when the club was attempting to establish itself as a force in English and European soccer following its takeover by Abu Dhabi's ruling family.
The explosive development came after a fouryear investigation by the world's most popular soccer league in the wake of leaked club emails and documents from City officials, published by German magazine Der Spiegel in 2018. The documents showed the extent of the schemes to allegedly cover up the true source of income in a bid to comply with financial regulations.
The Premier League has financial fair play rules designed to ensure clubs essentially spend what they earn from deals that are assessed for being at legitimate market value. The case could lead to a fine or a worse punishment, like a deduction in points.
The league released a long statement detailing a list of about 80 alleged breaches of its financial rules by City from 2009-18, the first nine full seasons under Abu Dhabi ownership. In that time, the team won three Premier League titles — in 2012, 2014 and 2018 — in what has become the most successful period in City's 143-year history.
The league also accused City of 30 more breaches relating to its alleged failure to co-operate with the
investigation since December 2018.
The breaches were referred to an independent commission, which will be made up of three judges appointed by a lawyer who chairs the league's judicial panel. The commission's hearing will be held in secret and there is no timetable for a verdict.
In a statement, City said it was “surprised” by the allegations, “particularly given the extensive engagement and vast amount of detailed materials that the EPL (English Premier League) has been provided with.”
“The club welcomes the review of this matter by an independent commission to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position,” City said.
The league has accused City of breaching rules requiring provision “in utmost good faith” of “accurate financial information that gives a true and fair view of the club's financial position” between 2009-18 and failing to give “full details of manager remuneration in its relevant contracts” from 2009-13. Roberto Mancini was manager during that period.
The third and fourth offenses are a failure to comply with UEFA regulations from 2013-18 and the Premier League's profitability and sustainability rules from 2015-18.
For the fifth offense, City is accused of breaching rules requiring clubs to “co-operate with and assist the Premier League with its investigations” from December 2018 to the present.