Manchester City F faces over 100 financial violations; a first in English Premier League history.
If you're considering placing a wager on Manchester City in their ongoing league conflict with Arsenal, it may be best to postpone your decision. On a Monday morning, the Premier League charged the Emirati-funded club with over 100 financial rule violations.
These charges are unprecedented in English soccer. If found guilty by an independent panel, City might face a significant points deduction or even relegation to the second division.
The Premier League stated that the charges are the result of a 4-year investigation and concern the time period from 2009 to 2018.
Manchester City stands accused of not providing "a true and fair view of its financial position," misinforming the league regarding player and manager compensation, and non-compliance with financial fair play (FFP) regulations. It is also facing charges of failing to cooperate with the Premier League's probe.
Introducing the Sheik
In 2008, the club was a financially troubled middle-table English Premier League team overshadowed by its more successful rival, Manchester United. Enter Mansour bin Zayed Al Nahyan of the Abu Dhabi Group, a billionaire member of Abu Dhabi's ruling family and current deputy prime minister of the United Arab Emirates.
With Sheik Mansour's oil money, the club started splurging on some of the best footballers around the globe. It has invested more than $1.5 billion on players since the Emirati takeover. Within four seasons, City had won its first EPL title and went on to rule English soccer, capturing five more league titles, two FA Cups, and six League Cups.
However, the accusation boils down to the fact that City allegedly doctored its financial records to give the impression it was adhering to FFP regulations. These rules control how much a team can spend in relation to the revenues it generates.
UEFA Charges
Back in 2020, UEFA, the European soccer governing body, found City in violation of its FFP regulations from 2012 to 2016. Consequently, UEFA barred the club from European competitions for two years.
UEFA alleged that City concealed funds coming directly from its owner as independent revenue from commercial sponsorship agreements. The club has always denied this, and the ban was eventually overturned by the Court of Arbitration for Sport (CAS) that year.
"Manchester City FC is shocked by the issuance of these alleged breaches of the Premier League rules, particularly given the extensive engagement and vast amount of detailed materials that the EPL has been provided with," the club said in a statement on Monday morning. "The club welcomes the review of this matter by an independent commission, to impartially consider the comprehensive body of indisputable evidence that supports its position. As such, we look forward to this matter being settled once and for all."
If City is found guilty, it's unlikely that any penalties will be applied this season, as the club is likely to appeal the decision. Regardless, given that both City and Arsenal suffered rare losses over the weekend, odds have shifted further in favor of Arsenal, making it 1:2 to win its first title in 19 years.
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