Manchester City revenue inflated by £900m contracts
An independent committee affiliated with the English Football League has concluded that Manchester City Football Club violated financial fair play rules over nine seasons (2009-2010 to 2017-2018) by entering into fake contracts with its commercial partners in order to inflate revenues and reduce costs, amounting to more than 900 million pounds. The findings showed that the club submitted inaccurate accounts and concealed its true financial situation from auditors, leading to an unrealistic depiction of its financial standing, with some transactions financed through secret mechanisms. The punishment has not yet been determined, and Manchester City has the right to appeal until October 2, which the club has announced its intention to do, affirming its innocence and rejecting the accusations, supported by evidence backing its stance. The final results are awaited to determine the penalty that will be issued at a future hearing, while rival clubs are closely monitoring the case developments in order to consider claiming compensation.
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