BREAKING: The Premier League confirm an independent Commission has found Manchester City guilty of all charges related to serious breaches of the Premier Leagueโs financial rules over a nine-season period, and the majority of charges in relation to its failure to co-operate with the Leagueโs investigation.
The independent Commission found that between Seasons 2009/10 and 2017/18:
"Manchester City arranged โshamโ contracts (which misrepresented the true agreement between the parties) with a number of its commercial partners, as well as relying on โshamโ agreements with others, to artificially inflate the clubโs revenues and reduce its costs.
"The club filed misstated accounts and concealed the true state of its finances from its auditors and football regulators.
"Manchester City was significantly in breach of both the Premier Leagueโs and UEFAโs spending limits.
"During the Premier Leagueโs investigation, Manchester City committed multiple breaches of its duties of co-operation and utmost good faith towards the League (three of the four alleged breaches were upheld).
"The independent Commission found that Manchester City arranged โshamโ commercial deals with a number of its sponsors during the period, which were part of a disguised funding scheme, whereby those companies were only required to pay a portion of the relevant sponsorship fees. The remainder was funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), which owned the club. As part of the scheme, further โshamโ arrangements, funded by ADUG, were entered into to enable the club to record lower operating expenses than it actually incurred, as well as a โshamโ circular arrangement with Fordham, an entity that purchased the clubโs playersโ image rights, that was funded by ADUG."
The EPL add: "The purpose of these schemes was found to have been to artificially inflate the clubโs revenues, and reduce its costs, by more than ยฃ900 million during the affected period, to appear to comply with financial rules. The consequence of this, as the Commission found, was that the club filed misstated accounts and concealed the true state of its finances from its auditors and football regulators. The Commission concluded that โby its conduct the club clearly intended to circumvent the PL Rules.
"As a result, Manchester City failed to accurately report its income and expenditure for the purposes of the Premier Leagueโs Profitability and Sustainability Rules and UEFAโs Club Licensing and Financial Fair Play Rules. The Commission found that, had all of the relevant agreements been reported accurately in the clubโs accounts, it would have been in breach of both the Leagueโs and UEFAโs spending limits by a very substantial amount.
"In addition, during the course of the four-year investigation conducted by the Premier League, the club committed multiple breaches of its duties of co-operation and utmost good faith towards the League. The Commission concluded that the club had โmade concerted efforts to stop and frustrate the PL investigation."
Richard Masters: โThe core decision establishes the facts of what happened at Manchester City during this period. It details how the club systematically broke Premier League Rules for nearly a decade.
โIt also vindicates the Premier Leagueโs decision to pursue this case against Manchester City.ย While the process to date has been both long and difficult, the League has remained determined that the facts be established independently.
โIt is a key responsibility of the Premier League to ensure that the Rules, approved by the clubs themselves, are upheld to protect the integrity of the competition. It is paramount that the League remains competitive and fair for all clubs and for the fans. We take that role extremely seriously.
โThis disciplinary case, and this decision, are the most significant in Premier League history. There are elements of the case that remain to be decided, including, importantly, what sanction must follow for these breaches. Now we have the Commissionโs decision, we are committed to moving swiftly through the remainder of the process, to provide certainty for the League, our clubs and fans.โ
A redacted version of the independent Commissionโs findings has been published.
Now that the charges have been proved, the issue of sanction will be addressed separately in a further hearing.
City has the right to appeal the independent Commissionโs findings and has until Friday 2 October to exercise that right.
Goosebumps! Marty Morrissey's pre-match commentary ahead of the 2024 All-Ireland hurling final with a lovely tribute to Mรญcheรกl ร Muircheartaigh at the end ๐ง #hurling
โI would really like to dedicate this to all the peacemakers everywhere. Go raibh mile maith agatโ
Cillian Murphy makes history as the first Irish-born person to win the Amacademy Award for Best Actor
#Oscars
Today there was tragedy which involved the stabbing of children in Dublin City, sick and inexcusable.
That doesnโt excuse the scenes coming out of Dublin tonight. Absolute feral animals who donโt give a single fuck about the victims. Just looking for any excuse to loot and burn
I just wanted to send this farewell message to all Manchester United supporters.
I would like to express my unwavering gratitude and appreciation for the love from the last 12 years. Weโve achieved a lot since my dear Sir Alex Ferguson brought me to this club. I took incredible pride everytime I pulled on this shirt, to lead the team, to represent this institution, the biggest club in the world was an honour only bestows upon a few lucky footballers.
Itโs been an unforgettable and successful period since I came here. I didnโt think from leaving Madrid as a young boy we would achieve what we did together.
Now, itโs the right time to undertake a new challenge, to push myself again in new surroundings.
Manchester will always be in my heart, Manchester has shaped me and will never leave me.
Weโve seen it all. ๐ค๐ผโค๏ธ
Its all leading up to June 18th where @dohenysgaa can go up as champions and Dunmanway 10k finishing line outside the gate, you might even spot the Beamish and Parkway cups close by ๐ช๐ช@Markbucks@KeithWhite99@conorw99@DunmanwaySoccer ๐ขโช๏ธ๐
โIโll crack the jokes round here Jill!โ ๐คฃ
Roy Keane was on top form as always for our Manchester Derby Quiz! ๐
Watch here ๐ https://t.co/NOHjw1dIYO