Home›US Markets›M&A & Deals›Manchester City found guilty of Premier League financi…

Manchester City found guilty of Premier League financial rule breaches

The independent commission said the “sham” contracts scheme boosted revenue and cut costs by more than £900m over the 2009-10 to 2017-18 period.

Reported · Written up by our desk · M&A & Deals

Manchester City has been found guilty on all Premier League charges over serious breaches of the league’s financial rules, according to the Guardian Business.

The independent commission concluded that the club used “sham” contracts to inflate revenue and reduce costs by more than £900m over nine seasons, spanning 2009-10 through 2017-18.

The commission also said City created commercial deals with sponsors as part of a scheme to disguise the source of funding, and that the Premier League said the case will move to a further hearing to address sanctions.

The Guardian Business said the range of possible sanctions includes stripping titles, financial penalties, and points deductions, and that City plans to appeal ahead of a Friday deadline.

More like this

Sources