CONFIRMED: Manchester City guilty of breaching EPL financial regulations
The English Premier League body has announced that Manchester City have been found guilty of all charges relating to breaching its financial regulations by an independent commission. The EPL released a statement confirming the news that has made the rounds in recent days, with Man City guilty of breaches that took place between the 2009/10 […]
The English Premier League has confirmed that Manchester City have been found guilty of breaching its financial regulations, according to an independent commission. The club was accused of violating the rules between the 2009/10 and 2017/18 seasons. In addition to the investigation, Man City also faced a fine from UEFA for similar offenses related to breaching financial fairplay rules.
The club had denied the allegations despite the evidence presented. The EPL's investigation, which was conducted via an independent commission, revealed that City made serious breaches by arranging "sham" contracts with commercial partners and relying on "sham" agreements to inflate revenues and reduce costs. The club was also found to have filed misstated accounts and concealed the true state of its finances from auditors and football regulators.
The club was found to be significantly in breach of both the Premier League's and UEFA's spending limits. Man City allegedly artificially inflated its revenues and reduced costs to have over £900 million within the nine-year period investigated. The club is expected to appeal the commission's findings.
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