Financial Rule Violation Decision Issued Against Manchester City
An independent commission has confirmed that Manchester City violated financial rules, and club management announced it will initiate an appeal process.
In the long-running financial investigation in the English Premier League, the independent commission has announced its decision. Manchester City was found guilty of severely violating financial rules and failing to cooperate with the investigation over a nine-year period between 2009 and 2018.
Investigation and Decision Process
The independent commission ruled that the English team violated Premier League financial rules over a nine-year period between the 2009/10 and 2017/18 seasons. It was also determined that the club failed to fulfill its cooperation obligations during the investigation process.
Revenue and Cost Adjustments
Examinations revealed that the club artificially increased its revenues through commercial partnerships and sponsorship agreements and understated its costs. It was stated that these methods affected the financial situation by more than 900 million pounds.
Limits Found to Be Exceeded
It was reported that Manchester City exceeded the Premier League Profit and Sustainability Rules and UEFA Financial Fair Play limits. Within the scope of the investigation, it also became clear that the club submitted unrealistic financial accounts.
Management's Reaction and Appeal
Manchester City club defended their innocence against the charges and shared their surprise and disappointment over the decision. The club has until Friday, October 2, to appeal the decision.