Manchester City chief claims 'conspiracy' as UAE-owned club found guilty of financial violations charges
Manchester City chief claims 'conspiracy' as UAE-owned club found guilty of financial violations charges An independent commission on Tuesday revealed that Manchester City Football Club has been found guilty on all 115 charges related to financial rules violations. The club engaged in "sham" commercial contracts to artificially inflate revenues and reduce costs by more than $1bn, the findings…
Manchester City's chief executive, Ferran Soriano, dismissed allegations of a "Premier League conspiracy theory" after his club was found guilty of 115 financial rule violations. The independent commission concluded that the English club engaged in fraudulent commercial contracts to inflate revenues and cut costs by over $1 billion.
Furthermore, the club's financial statements were not prepared or audited in compliance with legal and regulatory standards, the commission stated. City's financial records were described as reckless and lacking utmost good faith.
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- Who are the Emiratis behind crisis-hit Manchester City? al-monitor.com
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