Yahoo Finance Premier League accuses Man City of breaches of numerous financial rules
By Scott Kanowsky
Investing.com -- The Premier League has accused reigning champions Manchester City Football Club of committing a number of alleged breaches of its financial rules, according to a statement on Monday.
The top-flight English soccer league said it has referred these allegations to a commission that is independent of both the competition and its member teams.
Following an extended investigation, the Premier League claimed that Manchester City did not provide "true and fair" reporting of its financial position between the 2009/10 and 2017/18 seasons.
From 2009/10 to 2012/13, Manchester City also allegedly did not disclose full details of the pay given to its manager, who at the time was Italian Roberto Mancini.
The club did not comply with financial regulations set out by the Union of European Football Associations (UEFA) - the governing body of European soccer - from 2013/14 to 2017/18 as well, the Premier League said.
Finally, Manchester City faces charges that it did not follow rules regarding profitability and sustainability from 2015/16 to 2017/18.
The commission members, which will be appointed by the independent chair of the Premier League's Judicial Panel, will conduct hearings into these claims in private, the league said. It added it will make no further comment on the matter "until further notice."
Manchester City has won six league titles since it was bought by the Abu Dhabi United Group in 2008. In a statement, the club said it 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."
But it added: "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, the club was slapped with a two-year ban from lucrative European competition over breaches of UEFA's financial fair play and licensing restrictions. However, this suspension was later overturned by the Court of Arbitration for Sport, an international body based in Switzerland.
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