City Violations Finds 830M Pound Sponsorship Overspend
The independent committee revealed the existence of financial violations by Manchester City Football Club, related to illegal financial responses. The club was supported with an amount of up to 830 million British pounds from the Abu Dhabi United Group (ADUG) during the period between the 2008-2009 and 2013-2014 seasons, exceeding the value of officially registered sponsorships. Investigations showed that most of the sponsorship agreements were either artificial or had a different economic substance from their apparent legal form, with only a limited part of the actual sponsorship fees paid. There were also serious breaches of the Premier League rules. The committee confirmed that these violations occurred over nine seasons, including non-cooperation with the investigations. As a result, strict legal penalties may be imposed on the club and the individuals involved, in accordance with the Fraud Act of 2006.
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