‘Sham’ deals and ‘dishonest’ witnesses – key revelations from Man City verdict

An independent commission found Manchester City guilty of all serious financial rule breaches covering the 2009-10 to 2017-18 seasons. The 40-page verdict revealed City utilized a 'Disguised Funding Scheme' where Abu Dhabi United Group funded £830.69m of £949.94m reported from Abu Dhabi sponsors. The commission concluded City used 'sham' commercial agreements and intended to circumvent Premier League rules, while some club witnesses provided false and dishonest testimony.

The findings also detailed 'The Fordham Arrangement', describing it as little more than a front for ADUG to overstate income by £24.5m and understate expenses by £49.414m. The commission rejected the club's explanations, ruling that financial statements failed to show a true and fair view. Manchester City confirmed they will appeal the independent commission's ruling by October 2.