English Premier League accuses Manchester City of breaking financial rules



CNN
 — 

The English Premier League has accused Manchester City of more than 100 financial rules and referred the club to an independent commission, according to a statement released on Monday.

City is accused of failing to provide accurate financial information in accordance with Premier League rules from the 2009-10 season until the 2017-18 campaign.

“The members of the Commission will be appointed by the independent Chair of the Premier League Judicial Panel,” the Premier League statement said, adding that the proceedings will be “confidential and heard in private.”

The Premier League also alleges that City failed to comply with UEFA’s financial fair play (FFP) regulations from the 2013-14 to 2017-18 seasons and failed to follow the Premier League’s rules on profit and sustainability from the 2015-16 to 2017-18 seasons.

City was acquired by The Abu Dhabi United Group in 2008, and since then the club has won six Premier League titles, two FA Cups, and six EFL Cups, as well as finishing runner-up in the Champions League in 2021.

That success has been achieved with the help of assembling an all-star squad with some of the best players in the world.

In a statement on Monday, the club said: “Manchester City FC is surprised by the issuing of these alleged breaches of the Premier League Rules, particularly given the extensive engagement and vast amount of detailed materials that the EPL has been provided with.

“The Club welcomes the review of this matter by an independent Commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position.

“As such we look forward to this matter being put to rest once and for all.”

In 2020, City was banned from European football competitions for two seasons for “serious breaches” of club licensing and FFP regulations.

The ban was later overturned by the Court of Arbitration for Sport (CAS), although the body ruled that City had failed to cooperate with UEFA authorities and an original fine of 30 million euros ($34 million) was reduced to 10 million ($11.3 million).

source: cnn.com