🚨✍️ In 2014, Newcastle United had to sell Elliot Anderson just to stay within FFP rules.
They did not want to lose him - but as an academy graduate it made sense to with he entire fee recorded as pure profit in the club’s accounts, providing a major boost to their PSR position.
Now, he’s signing for Manchester City for an incredible £116M, a club facing 115 charges over alleged breaches of Premier League financial regulations.
An independent panel heard the case and proceedings wrapped up in 2024, but still, for reasons nobody seems able to explain, there has been no verdict. Why?
The whole situation is f*cked.
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EXCLUSIVE
The chief Treasury civil servant wrote to Labour two days ago saying that the £38 billion/£2,000 tax attack “should not be presented as having been produced by the civil service”
He said he had reminded ministers of this
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🚨𝗧𝗵𝗲 𝗲𝘃𝗶𝗱𝗲𝗻𝗰𝗲 𝗯𝗲𝗵𝗶𝗻𝗱 𝗠𝗮𝗻 𝗖𝗶𝘁𝘆 𝗰𝗵𝗲𝗮𝘁𝗶𝗻𝗴 𝗙𝗙𝗣 - 𝗿𝗲𝗮𝗱 𝗮𝗹𝗹 𝗮𝗯𝗼𝘂𝘁 𝗶𝘁🚨
I’ve wondered why so many people only ever talk about the 115 charges against Man City and not the evidence itself, which is incredibly damning and already in the public domain for anyone to read.
I came to the conclusion that the mainstream media outlets don’t raise it because they’re afraid of Man City’s financial power and inclination to pursue litigation.
And I think the reason its not discussed on social media is because the evidence is not so blatant if you don’t understand corporate financial matters and terminology.
So here is a thread, putting some the most damning evidence of Man City’s cheating in the spotlight and breaking it down in a way that anyone can make sense of.
𝗙𝗶𝗿𝘀𝘁, 𝘁𝗵𝗲 𝗰𝗼𝗻𝘁𝗲𝘅𝘁…
In November 2018, German Publication “Der Spiegel” released their first story about how Man City had been subverting Profit and Sustainability Rules (PSR) and Financial Fair Play (FFP) rules. These rules, introduced in Uefa competitions in 2011/12 and the Premier League in 2012/13, prevented clubs from undertaking unlimited spending using debt or owner funds (known as equity). Instead, clubs were required to spend what they “earned” such as from matchday income, broadcast revenue or commercial deals, such as sponsorships / partnerships.
The story’s source was a cache of leaked emails that Der Spiegel had obtained between Man City executives and board members, including the Chief Executive Office (CEO) and Chief Financial Officer (CFO).
The emails, which are numerous and took place over many years, go into precise detail about how Man City sought to subvert FFP rules by disguising equity payments from the owner as sponsorship revenue, by channelling the funds through the sponsors’ accounts.
Man City’s owner is the Abu Dhabi United Group (ADUG), which is ultimately owned by Sheikh Mansour.
Uefa estimated that by cheating FFP in this way, Man City was able to spend hundreds of millions more that it should have been, distorting the transfer market and destroying the sporting integrity of the Premier League.
The emails analysed in this thread are the emails that Man City themselves provided as “originals” during adjudication.
For more on the background of the case, check out this thread:
https://t.co/lFYCEsNMNb
🧵…
@GraemeKelly1 There’s plenty of us who are local and couldn’t even get on the waiting list for a season ticket.. I tried when my son was born to get on the list and was informed it was closed.. He turned 18 last year and we are still in the same situation. It needs a complete overhaul