Manchester City respond to Premier League’s accusation of breaching financial rules

News emerged earlier today that Manchester City face allegations of breaching several financial rules of the Premier League.

They face punishments ranging from heavy fines to expulsion. The Premier League have referred the case to an independent commission.

Under Premier League rules, Man City cannot appeal any sanctions they receive to the Court of Arbitration for Sport (CAS).

The league is accusing Man City of breaching rules requiring provision ‘in utmost good faith’ of ‘accurate financial information that gives a true and fair view of the club’s financial position’.

Man City responded to the accusations by stating they are open to enquiries and reviews.

A club statement read: “Manchester City FC 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.

“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.”

Since 2008, City Football Group have been under scrutiny for their spending as owners.

Headed by Sheikh Mansour, they have spent lavishly signing players to establish themselves as a footballing superpower.

With their finances, the Abu Dhabi United Group and a smaller consortium of United States and Chinese owners have dragged the club into the league’s upper echelons.

They have prompted several calls for Financial Fair Play (FFP) from football fans. Critics such as La Liga president Javier Tebas have also pointed accusing fingers.

UEFA’s club financial control body (CFCB) handed Man City a two-year ban from European football in February 2020. They accused them of breaches of club licensing and FFP regulations.

However, the Court of Arbitration for Sport (CAS) overturned the decision.

City are facing over 100 charges from the league, and the potential punishments could have significant implications across the league.

Newly minted Newcastle United and Chelsea’s Todd Boehly/Clearlake Consortium will be looking nervously over their shoulders.