Manchester City Sinks in Sham Financial Reporting

Manchester City appear to have been caught in the web of their own financial dealings after an independent inquiry confirmed that the club posted falsified revenue entries between 2009 and 2018.

According to details released so far, the club reported a massive income of £949.94 million within that period. However, findings show that only £119.25 million came directly from sponsors.

The remaining £830.69 million was reportedly recorded as “Tagged Sums” funded by City’s owners, the Abu Dhabi United Group.

Although City have appealed the findings, the club risks severe sporting and financial sanctions if their appeal fails.

Throughout the investigation, Manchester City has maintained a defiant denial of all charges. In a leaked message to staff, CEO Ferran Soriano vehemently claimed the entire case is built on false premises.

“This has gone on for so long that it’s important to remind ourselves that the whole Premier League case against us is based on a single false accusation,” Soriano wrote. “That the owner’s personal money was somehow, and secretly, put into the club via sponsors from Abu Dhabi. This is just not true.”

Soriano insisted that the club has provided airtight proof to clear its name.

“Irrefutable evidence has been provided to the Premier League commission that shows it could not happen and that it did not happen. This includes bank statements, money transfers, witness testimonies, and everything necessary to categorically demonstrate the money did not come from the owner. Every other false charge that has been thrown at us and aggressively marketed comes from that simple, central, and completely false accusation.”

Expressing shock at the inquiry’s outcome, Soriano targeted the commission’s handling of the defense.

“Surprisingly for us and for our lawyers, after nearly two years, the Premier League commission has issued an opinion that supports the Premier League’s conspiracy theory. To do so, the opinion had to actually ignore the extensive evidence provided by the club in order to reach a conclusion that is clearly wrong.”

The CEO reassured staff that the club would overturn the ruling, drawing parallels to their previous legal battles.

“Our lawyers will now file an appeal that sets out that the opinion contains clear material errors of law, principle, and fact, making it entirely unsafe. Remember, we have been here before. In 2020, we were also wrongly ruled against for many of the same issues. We appealed to an independent body in CAS, and we won. We will now be relentless in our work once again. We will focus on the independent appeal process and explore all other legal avenues available to us to win this case.”