Independent commission finds 'Manchester City' guilty of breaching English Premier League financial rules
An independent commission has found Manchester City guilty of breaching financial rules through sham contracts
Translated by Qiyas from السياسة — Original source
- Sham contracts concealed secret funding exceeding £830 million
The English Premier League announced on Tuesday that an independent investigation panel found Manchester City guilty of breaching several league regulations, particularly those related to financial rules.
In a statement, the league said that according to the investigation’s findings, it was established that Manchester City entered into sham contracts with a number of commercial partners between the 2009-2010 and 2017-2018 seasons, as part of a plan to conceal secret funding worth more than £830 million, approximately $1.095 billion US.
The statement added that the independent investigation panel concluded that the club relied on sham contracts and agreements to artificially inflate its revenues and reduce its costs.
Manchester City’s management had strongly denied on Saturday any breach of the Premier League’s financial rules, affirming its commitment to taking necessary steps to clear the club’s name.
A hearing is scheduled before the independent panel to discuss penalties resulting from the established violations, which will be held in private in accordance with Premier League regulations.
The club has the right to appeal the independent panel’s findings, with the league setting Friday, October 2, as the final deadline for submitting an appeal.
