Manchester City chief claims 'conspiracy' as UAE-owned club found guilty of financial violations charges

Manchester City Football Club has been found guilty of 115 financial violations charges dating back to 2009, according to an independent commission. The club engaged in sham commercial contracts to artificially inflate revenues and reduce costs by over $1 billion, the commission found. City's financial statements were not prepared and audited in accordance with legal and regulatory principles, and the club acted recklessly, failing to act with utmost good faith.

In response, Manchester City chief executive Ferran Soriano called the investigation a "Premier League conspiracy theory." The Premier League charged City in 2023 after an investigation into alleged breaches between 2009 and 2018, accusing the club of failing to provide accurate financial information and details of payments to players and coaches, as well as breaches of financial sustainability rules.

While the exact sanctions have not been decided, City is facing a points deduction that could result in relegation, as well as significant fines.

Brief written by urgent.news from Middle East Eye's own syndicated text. Machine-written — may contain errors; check the original before relying on it.