Man City guilty of using ‘sham’ deals to distort finances, Premier League says
Manchester City has been found guilty by an independent commission of serious financial rule breaches spanning nine seasons. The club allegedly used 'sham' contracts to inflate revenue and hide costs, though they intend to appeal the decision.
Why it matters
The ruling could lead to unprecedented sanctions, potentially altering the history of English football and impacting the financial governance of major sports leagues.
A significant punishment for Man City could affect past and future title races, European qualification and the distribution of tens of millions of pounds in prize money. (EPA Images pic)
LONDON: Manchester City used "sham" commercial contracts as part of schemes to inflate revenue and understate costs by more than £900 million over nearly a decade, the Premier League said on Tuesday after an independent commission ruled the club guilty of serious breaches of financial rules.
The commission found City guilty of all charges relating to breaches of the league's financial rules over nine seasons, between the 2009-10 and 2017-18 campaigns, as well as three of four charges concerning their failure to co-operate with the investigation.
The club, which denies wrongdoing, said in a statement it would appeal "on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe".
Also covering this story
13 other newsrooms covered this event. We read each version separately.
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