🚨 More details from Premier League statement on Manchester City.
The independent Commission found that Manchester City arranged ‘sham’ 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 ‘sham’ arrangements, funded by ADUG, were entered into to enable the club to record lower operating expenses than it actually incurred, as well as a ‘sham’ circular arrangement with Fordham, an entity that purchased the club’s players’ image rights, that was funded by ADUG.
The purpose of these schemes was found to have been to artificially inflate the club’s revenues, and reduce its costs, by more than £900 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 ‘by 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 League’s Profitability and Sustainability Rules and UEFA’s Club Licensing and Financial Fair Play Rules. The Commission found that, had all of the relevant agreements been reported accurately in the club’s accounts, it would have been in breach of both the League’s and UEFA’s spending limits by a very substantial amount.
Manchester City have been found guilty of all charges related to serious breaches of Premier League financial rules by an independent commission, the league has said.
Manchester City have indicated their intention to appeal the decision.
🚨 Manchester City received £949.94M in commercial income from Abu Dhabi sponsors between 2009 and 2018.
Of that figure, £119.25M came directly from sponsors, while the remaining £830.69M was recorded as “Tagged Sums” paid by Abu Dhabi United Group, City’s owners.
(Source: @MarkOgden_)
“I Enjoyed Myself. I’m Back, Sound And Healthy. Ready To Kick And Ready To Work.” ~ President Bola Tinubu Reacts After Returning From His European Vacation. 👀
🚨 La Liga president Javier Tebas on Man City punishment: “I believe it should be the STRICTEST punishment in the Premier League regulations”.
“It must serve as an example. Violating the rules for over 10 years is a very serious thing”, told FIFPRO.
IT’S OFFICIAL: The @premierleague confirms Manchester City are the biggest cheats in British football history.
Punishment must hurt:
Relegate them, strip them of their fraudulently won titles + dock them 25pts for first 5 seasons if/when they get back in the Premier League.
🚨 MAJOR BREAKING: Premier League confirm an independent Commission has found Manchester City GUILTY OF ALL CHARGES related to serious breaches of the Premier League’s financial rules over a nine-season period, and the majority of charges in relation to its failure to co-operate with the League’s investigation.
The club has the right to appeal the independent Commission’s findings and has until Friday 2 October to exercise that right.
The Premier League Board’s intention is that the full process (including any appeals and publication of relevant decisions) is concluded as soon as possible.
The independent Commission found that between Seasons 2009/10 and 2017/18:
- Manchester City arranged ‘sham’ contracts (which misrepresented the true agreement between the parties) with a number of its commercial partners, as well as relying on ‘sham’ agreements with others, to artificially inflate the club’s 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 League’s and UEFA’s spending limits
- During the Premier League’s 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)
Last week, I bought black soap from my colleague at work because I wanted to patronise her.
Got to work today, and she was hyping my skin. Said my skin tone is blending and it's fresh.
Oniro oshi 😂
Her soap that I've not opened. Me too. I said, “that your soap is very powerful ooh”
Qdot has finally shown the CCTV footage of the terrifying night armed robbers invaded his house last year and held him at gunpoint. They forced him to open all his bank accounts and transfer his money to them.
Wow I'm just getting to know now that Senator Khairat Gwadabe and Governor Abdulrahman Abdulrazak are siblings...
She's 3 years older than the Governor.
I hope you are already on your way to work ??
I am
Talking to you that’s staying in Ayobo, Abule egba, sango/ifo, Akute and Magboro
And working in Lekki
🚨💣 BREAKING : New claims have surfaced surrounding Manchester City’s title-winning game against QPR in 2011/12. 👀
It is being alleged that QPR players received payments from an Abu Dhabi-linked company with instructions to allow Manchester City to win the match and secure the Premier League title.
After City scored their second goal, QPR restarted play by immediately giving the ball back to City rather than attempting to slow the game down or run down the clock. 😳
These claims remain allegations, but they are already sparking fresh debate over the dramatic 2012 finale. 👀
🎙️ @haber_io