Manchester City found guilty of breaching Premier League financial rules
An independent commission has determined that Manchester City seriously breached financial rules and inflated their revenues over nine seasons.
As a result of an investigation conducted in the English Premier League, it was announced that Manchester City seriously breached financial rules over a nine-season period and was found guilty by an independent commission.
Results of the Investigation and Charges
The Premier League shared the results of the independent commission investigation regarding Manchester City with the public.
It was emphasized that the club seriously violated financial rules over a period covering nine seasons and failed to cooperate during the investigation process.
Fake Contracts and Revenue Increases
It was recorded that Manchester City signed fake contracts with its commercial partners in order to artificially increase revenues.
It was also reported that the club declared false financial accounts to show costs lower and exceeded spending limits.
Millions of Pounds in Revenue Inflation
In the independent commission report, it was pointed out that the club made fake payments and inflated its revenues by over 900 million pounds.
Stating that good faith obligations were also repeatedly violated, the report expressed that actions contrary to UEFA rules were also taken.
Statement from the Club
Following these developments, a statement was made from the Manchester City side.
The club emphasized that it experienced great disappointment due to the published independent commission report.