&imwidth=800&imheight=600&format=webp&quality=medium "Premier League says Manchester City's 'sham contracts' financial breaches 'most significant in history'")
The English Premier League has issued a statement on Manchester City's being found guilty of breaching the league's financial rules over a nine-year period from 2009/10 to 2017/18. During this period, the club was found guilty of boosting its income by more than $1.19 billion via "sham contracts". City was found guilty of 114 of the 115 charges, and the Premier League statement confirmed the verdict, calling it "the most significant in Premier League history". The investigation began in December 2018 against City, and an Independent Commission held a 10-week hearing which was completed in December 2024. City, however, has the right to appeal against the finding of the Independent Commission by Friday, October 2.
Premier League issues statement on City's financial breach
In a statement issued on Tuesday (Sept. 29) by the Premier League, it was confirmed that "an Independent Commission has found Manchester City FC guilty of virtually all charges related to serious breaches of the Premier League’s financial rules over a nine-season period".
According to the commission, between 2009/10 and 2017/18:
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- Manchester City arranged ‘sham’ contracts (which misrepresented the true agreement between the parties) with a number of its commercial partners, as well as relying on ‘sham’ agreements with others, to artificially inflate the club’s revenues and reduce its costs.
- The club filed misstated accounts and concealed the true state of its finances from its auditors and football regulators.
- Manchester City was significantly in breach of both the Premier League’s and UEFA’s spending limits.
- During the Premier League’s investigation, Manchester City committed multiple breaches of its duties of co-operation and utmost good faith towards the League.
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What next for Manchester City
The club is expected to be fined heavily, with relegation possible as well. While there is no precedent available for what punishment City might incur, given the scale of its breaches, Everton previously suffered a 10-point penalty for overspeding $25 million in a breach of profitability and sustainability rules. Everton's penalty was calculated as six points for an initial breach and an additional point for each $6.6 million overspent by the club.
