Manchester City has been accused of financial violations in the past, the investigation of which starts on Monday 16th September. The club stands accused of contravening financial regulations over a nine-year period spanning from 2009 to 2018.
Manchester City firmly refuses these allegations, asserting that they possess evidence to substantiate their position. The Premier League has asserted that Manchester City failed to furnish accurate financial information as mandated by the regulations.
What are the Allegations about ?
The contents of the information pertain to the financial performance of the club, encompassing revenue streams such as sponsorship, as well as expenditures. The reigning Premier League Champions have faced allegations of non-cooperation with the investigative team.
Upon commencement of the investigation, the club vehemently refuted the allegations, asserting that they were baseless and stemmed from the misrepresentation of their correspondence by the German publication Der Spiegel. Since the acquisition by the Abu Dhabi United Group in 2008, Manchester City has clinched eight league titles, numerous domestic cups, and the prestigious Champions League.
What are the 115 Charges ?
• 54x :- Failure to provide accurate financial information 2009-10 to 2017-18.
• 14x :- Failure to provide accurate details for player and manager payments from 2009-10 to 2017-18.
• 5x :- Failure to comply with Uefa's rules including Financial Fair Play (FFP) 2013-14 to 2017-18.
• 7x :- Breaching Premier League's PSR rules 2015-16 to 2017-18.
• 35x :- Failure to co-operate with Premier League investigations December 2018 - Feb 2023.
Gaffer's Take on the Issue
City's gaffer, Pep Guardiola stated on Friday that he is looking forward to the verdict, and he hopes it comes soon. He mentioned that he knew about the false rumours that had sparked the issue and felt there would be more such rumours in the forthcoming days. He believes that everybody is innocent until proven guilty and that he will keep an eye on the verdict.
The Stakes are high and big names are involved
In a high-profile legal dispute spanning six years, both parties have incurred significant legal expenses, with the trial yet to commence. Once the case concludes, the prevailing party may seek return of legal fees from the opposing side. In the event that the Premier League is obligated to pay, the costs will be distributed among all 20 teams in the league.
Manchester City's legal team, under the leadership of Lord Pannick KC, commands a fee of £5,000 per hour for their services. Notably, Lord Pannick has previously navigated City through a potential European competition ban in 2020 and provided counsel to former Prime Minister Boris Johnson.
Reports indicate that the Premier League's legal representation will be headed by sports law expert Adam Lewis KC. Interestingly, in a prior case involving Everton, the Premier League retained the services of the law firm Linklaters.
The hearing is expected to last 10 weeks, according to media reports. Following the conclusion of the hearing, a verdict date is currently unknown, with reports only indicating a decision in early 2025.