The Premier League have confirmed Manchester City have been found guilty of all of the charges related to breaches of their financial rules.
A damning Premier League statement revealed the extent of City’s dishonesty that saw them create “sham” sponsorships which were part of a “disguised funding scheme” that boosted revenues by £900m over a nine-year period.
Without those revenues, the statement revealed, they would have significantly breached both Premier League and Uefa financial fair play rules.
A redacted, 40-page summary of the verdict was released on Tuesday afternoon.
City said in a very strong response they were “disappointed” with the verdict and indicated that they would be “relentless” and pursue “all appropriate regulatory and legal forums”.
The club have known about the verdict since July, which is sure to raise eyebrows in the Premier League given the extent of their spending during the summer.
The league said that now the charges have been proved, the issue of sanction will be addressed separately in a further hearing with the independent commission.
The club have the right to appeal the independent commission’s findings and October 2 to exercise that right.
What were the key findings?
Further “sham arrangements” the club were found to have entered into enabled the club to record lower operating expenses than they actually incurred, the Premier League’s published statement said. The scheme was found to have inflated the club’s revenues and reduced their costs by more than £900m during the affected period. The commission found the club had therefore filed misstated accounts and concealed the true state of their finances from their auditors and football regulators. The commission concluded that “by its conduct the club clearly intended to circumvent the Premier League rules.”How did Man City respond?
In a club statement they said: “Manchester City FC is both disappointed and surprised by the opinion of the Premier League Commission, that has been published today.
“The Club is innocent of the accusations made by the Premier League and a comprehensive body of irrefutable evidence exists in support of all of its positions, relating to this case. The Club will therefore be relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums.
“The Premier League process remains ongoing, with significant elements uncompleted. Manchester City FC will now pursue the appeal avenues open to it, on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe.
“The Club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence.
“The Club is obviously restricted in what it can say further until all future proceedings are complete.”
What happens next?
The next stage is a sanctions hearing.
Premier League chairman Richard Masters said: “The core decision establishes the facts of what happened at Manchester City during this period. It details how the club systematically broke Premier League Rules for nearly a decade.
“It also vindicates the Premier League’s decision to pursue this case against Manchester City. While the process to date has been both long and difficult, the League has remained determined that the facts be established independently.
“It is a key responsibility of the Premier League to ensure that the Rules, approved by the clubs themselves, are upheld to protect the integrity of the competition. It is paramount that the League remains competitive and fair for all clubs and for the fans. We take that role extremely seriously.”
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