The municipality inflated the revenue by USD 1.100,000.000 according to the findings of the Polish case.
Manchester City were found guilty of inflating revenues by £830 million (US$ 1.08 billion) in the 115 counts of Premier League , with disguised financing.
Background: the 115 charges and the Premier League trial
The Premier League took Manchester City to trial on 115 counts of serious financial breaches.The Independent Commission responsible for the case concluded that the Abu Dhabi-owned club artificially inflated its commercial revenue by £830 million (US$ 1,08 billion) between 2009 and 2018.
The club was found guilty of all charges.CEO Premier League referee Richard Masters stated that City "systematically violated the rules of the Premier League for almost a decade".2017
The mechanism: the disguised funding scheme
In the written findings explaining the Commission's verdict, City was found guilty of using a Disguised Funding Scheme which allowed club owners to grossly inflate actual commercial gains by directly funding the team.
In the 2017-18 season, City's second under Pep Guardiola, they recorded £7.73 million (£8.4 million) in commercial revenue; of this total only £9.5 million was paid by sponsors while the remaining £11.73 million ($12.6 million) was paid for by owners - contrary to Premier League rules.
Between 2009 and 2018, City declared a total of £949,94 million (US$ 1,25 billion) in commercial revenue from Abu Dhabi sponsors but only £119,25 million (US$ 157 million] of that amount was actually paid by the sponsors.
The amounts tracked: £830,39 million in 'Tagged Sums'
A total of $1.39 million in so-called "Tagged Sums" was paid to the club by Abu Dhabi United Group (ADUG), the vehicle used for Abu Dhabi's ownership.
During this nine-year period, City won three Premier League titles and signed a number of high profile players including Carlos Tevez, Sergio Aguero, Kevin De Bruyne and David Silva as well as signing Guardiola as manager in 2016.
Additional evidence: the accounting 'hole' of 2012-13
Other evidence showed that a "hole" of £9,9 million (US$ 13 million) in the club's accounts was "covered up" to avoid non-compliance with regulations in season 2012-13.
"In a matter of days, without AD [Abu Dhabi] sponsors even being sought, a series of modified AD Sponsorship Agreements were generated which purported to reflect 'agreements' on the part of certain AD sponsors to increase their registered Sponsor Fees, pay bonuses for events that had already occurred and pay for a U.S. tour", the written conclusions say.
What It Means for the Reader
The verdict states that Manchester City operated a parallel financing system for almost a decade, in which Abu Dhabi owners directly covered the difference between what sponsors paid and what the club declared as commercial revenue.
The Independent Commission's decision, coupled with the Premier League's CEO declaration that the club "systematically violated the rules for almost a decade", puts Manchester City at the centre of the largest financial investigation ever undertaken by the English league.
== sync, corrected by elderman == @elder_man
Warning
The predictions and analysis of matches presented in this text are editorial opinions, based on public data, and do not guarantee any outcome. This website does not offer, promote or recommend any form of betting. Minors are prohibited from participating in bets.
Comments (0)