Man City Lied About Spending Nearly £1bn Amid Guilty PL Verdict

· GiveMeSport

To put things in simpler terms, the exact amount of money Man City lied about spending between 2009 and 2018 has now been revealed.

It has now been confirmed that Manchester City are guilty of breaching all 115 charges related to the Premier League’s financial rules. This news was confirmed this week in an official statement by the league .

The Premier League revealed that an independent Commission found that between 2009/10 and 2017/18, Man City had arranged ‘sham’ contracts to artificially inflate the club’s revenues and reduce its costs, while misstating accounts and concealing the true state of its finances from its auditors and football regulators. On top of that, they did not co-operate with the investigation.

Man City have until Friday 2 October to appeal, and it's expected that they will do just that. Hitting back with a strong statement , the club insisted they were innocent and added that they were 'both disappointed and surprised' by the ruling.

Several teams could win belated league titles with Man City found guilty over their 115 charges, but Mikel Arteta’s men still wouldn’t get a trophy.

Amid all the statements and legal jargon, it can be quite hard to follow just what is going on. But to put things in simpler terms, the exact amount of money Man City lied about spending between 2009 and 2018 has now been revealed to be over £900m.

The Premier League explained that this money was lied about to help inflate the club’s revenues and reduce its costs, all while making it seem as though they were in compliance with financial rules. Their statement read:

> "The purpose of these schemes was found to have been to artificially inflate the club’s revenues, and reduce its costs, by more than £900 million during the affected period, to appear to comply with financial rules. The consequence of this, as the Commission found, was that the club filed misstated accounts and concealed the true state of its finances from its auditors and football regulators. The Commission concluded that ‘by its conduct the club clearly intended to circumvent the PL Rules'."

Offering more insight into the rule-breaking , ESPN's Mark Ogden has revealed that "Man City received £949.94m in commercial income from Abu Dhabi sponsors between 2009-2018." He went on to add: "Only £119.25m came from sponsors, the remaining £830.69m were "Tagged Sums" paid by Abu Dhabi United Group (City's owners)."

As mentioned before, Man City will appeal. However, if this is unsuccessful, they are in line to face a huge punishment, with all sorts of sanctions potentially on the table. While it's unclear what will happen, many have suggested a points deduction must surely now happen.

For context, Everton were docked eight points during the 2023-24 season for two separate profit and sustainability regulation breaches. Adding to that, Nottingham Forest were hit with a four-point deduction in 2023-24 for a PSR breach.

Both those cases involved financial breaches which fell far short of the £900m Man City have lied about. Everton, for example, were punished for an £19.5m overspend , so one can only imagine how many points the Etihad club could be deducted if the same logic is applied.

Beyond points deductions, Man City risk being kicked out of the Premier League , hit with a huge fine, getting a transfer ban, and maybe even being stripped of past titles .

Read the original

Related