Manchester City charged by Premier League for breaching financial rules
In a major development, Manchester City have been charged by the Premier League for numerous alleged breaches of financial rules after a lengthy investigation. As per Sky Sports, the breaches span a period involving the 2009-10 to 2017-18 editions. Meanwhile, the six-time Premier League winners have been accused of not cooperating with the investigation since December 2018. Here are more details.
Why does this story matter?
- As per Premier League's statement, City breached rules which required them to provide "accurate financial information that gives a true and fair view of the club's financial position".
- This information comprises the club's revenue, including sponsorship revenue, and operating costs.
- Besides, there have been a host of breaches by the 2021-22 winners, involving the manager and player remunerations, and UEFA regulations.
A look at the alleged breaches
City breached the rules relating to UEFA regulations, including Financial Fair Play (FFP), from 2013-14 to 2017-18 campaigns. The Manchester-based club have breached the PL rules on profitability and sustainability from 2015-16 to 2017-18. There have been breaches relating to rules requiring full details of manager remuneration from 2009-10 to 2012-13 with Roberto Mancini at the helm, and player remuneration between 2010-11 and 2015-16.
When did the investigation start?
As per BBC, UEFA began the investigation into City after the German newspaper Der Spiegel published leaked documents in November 2018. The club had allegedly inflated the value of a sponsorship deal. The Premier League opened its investigation in March 2019. They have referred the alleged offenses to an independent commission.
What punishments can be imposed by an independent commission?
As per Sky Sports, the independent commission has the power to impose punishments including a fine, points deductions, and expelling a club from the Premier League. Besides, they can suspend a club from playing league matches or recommend the board to replay the league matches. The commission proceedings will be heard in private.
City overturned a two-year ban from European football
Back in 2020, City managed to overturn a two-year ban from European football, thanks to the Court of Arbitration for Sport (CAS). The Premier League giants were initially handed a suspension by UEFA's club financial control body (CFCB) in February 2020 for "serious breaches" of club licensing and financial fair play regulations between 2012 and 2016.
Man City's performance in Premier League 2022-23
Man City are one of the most successful clubs in the English top flight. With 45 points, City are placed second in the Premier League 2022-23 standings (W14 D3 L4). They are the only side to score 50-plus goals in the competition this season (53). City suffered a 0-1 defeat to Tottenham on Sunday. They are five points behind table-toppers Arsenal.
Juventus docked for financial regularities
Last month, Serie A giants Juventus were docked 15 points for financial irregularities. Juventus, who were seated third in the Serie A 2022-23 standings, dropped to the 10th position post the penalty. Juve's former sports director, Fabio Paratici, is serving a 30-month ban from Italian football. Former Juventus chairman Andrea Agnelli and former chief executive Maurizio Arrivabene have been banned for 24 months.