Shocking revelations have emerged from The Times, as they assert that a 2020 leaked UEFA report reveals the existence of two payments of £15 million each in 2012 and 2013. These payments were made by an unidentified individual from the United Arab Emirates to Manchester City and were intended to compensate for funds that were supposed to originate from one of the club’s sponsors. These payments are believed to be among the 115 alleged breaches of the Premier League’s financial regulations that City was charged with in February.
Additionally, according to The Belfast Telegraph, UEFA’s investigation determined that the money in question was actually funding from Manchester City’s owners, cleverly disguised as sponsorship revenue. However, the Court of Arbitration for Sport (CAS) ruled that these charges were time-barred, stating that UEFA should not have pursued them since they exceeded the five-year time limit.
The Premier League enforces rigorous regulations that include the mandatory disclosure of manager remuneration in relevant contracts, as well as player remuneration in contracts with players. Compliance with UEFA’s Club Licensing and Financial Fair Play Regulations is also expected, alongside adherence to rules concerning profitability and sustainability. Unfortunately, the club in question has flagrantly violated these regulations, which raises serious concerns and constitutes illegal activity on the part of the club.
In February, the Premier League officially disclosed that they had referred several alleged breaches of the Premier League Rules by Manchester City to a commission. These alleged breaches encompass various aspects, including the following:
- The obligation to provide accurate financial information in good faith, which presents a true and fair view of the club’s financial position, particularly concerning revenue (including sponsorship revenue), related parties, and operating costs.
- The requirement for a Premier League club to fully disclose manager remuneration in relevant contracts, as well as player remuneration in relevant contracts with players.
- Compliance with UEFA’s regulations, including UEFA’s Club Licensing and Financial Fair Play Regulations.
- Adherence to rules regarding profitability and sustainability.
- The duty to cooperate with and assist the Premier League in investigations, including the provision of documents and information in good faith.
These alleged breaches are said to have occurred between the seasons 2009-10 and 2022-23.
Furthermore, it has been revealed that the club’s management was fully aware that the £30 million payments, made by an unidentified individual from the UAE, were not intended as payments for the sponsor to cover legitimate sponsorship obligations. Instead, these payments were recognized as equity funding.
The revelations have cast a shadow over the club’s reputation and raise questions about its integrity and adherence to financial fair play. The Premier League and UEFA will need to closely examine the evidence and take appropriate actions to address these alleged breaches. The outcome of the investigations and any subsequent penalties will have significant implications for Manchester City’s future in domestic and international competitions.
