Get up to speed with the ongoing investigation in the FFP breach case of Manchester City with new evidence found
Manchester City have invested a ridiculous amount of money to bolster their ranks in order to win the Premier League. Their wealthy owners have brought in state money from the UAE and have injected a new life into the club.
Meanwhile, they have also acquired the signature of Jack Grealish for a transfer fee of around £100 million, making him to most expensive English player. In addition, they have spent more than £1 billion in the transfer market since Sheikh Mansour took over.
Big numbers raised some eyebrows who began investigating behind the scenes, German magazine Der Spiegel broke the report. Rui Pinto the journalist of Der Spiegel brought light to the fact that the club had overstated its sponsorship revenue from their main shirt sponsors.
Manchester City FFP Breach Case, Investigation Going On After The Club Survives A Ban
After the leaks were made available by Rui Pinto, UEFA opened an investigation and found Manchester City guilty. Their owner Sheikh Mansour inflated the sponsorship deal with Etihad Airways breaching the FFP regulations.
UEFA handed over a two-years ban from European football to Manchester City and a massive fine of €30m for cooking the books. However, the Court of Arbitration for Sport (CAS) overturned this decision of UEFA because the allegations being ‘time barred’.
They were allowed to participate in the European competitions and were handed over a fine of €10 million. Meanwhile, Premier League opened their investigation on the manipulated sponsorship deal made by the City owners.
Manchester City FFP case
Manchester City cooked their books to balance the sponsorship deal with their main shirt sponsor Etihad Airways. The deal originally consisted of €4 million but the inflated amount was €12 million which would be handled separately by Sheikh Mansour as per the new evidence.
Premier League club filed a complaint against the hacking of emails and monitoring the communications to the arbitrators. However, the decision was against the Premier League Champions who will now have to present all the necessary documents.
City released a statement saying: “We respect the decision of the court of appeal regarding the arbitration matter. The decision relates to ongoing proceedings and we are obviously not in a position to provide comment until those proceedings are complete.”