Man City’s ‘sham contracts’, spending-limit breaches and ‘disguised funding’: Breaking down the findings

An independent regulatory commission found Manchester City guilty of nearly all charges relating to serious financial rule breaches from 2009 to 2018. The commission determined that the club artificially inflated revenues and concealed equity contributions through "sham" sponsorship contracts and disguised funding from owner Abu Dhabi United Group (ADUG). Premier League chief executive Richard Masters stated that Manchester City systematically broke financial rules for almost a decade.

The commission found that £830.7 million of £949.9 million in reported Abu Dhabi-linked sponsorships was actually funded directly by ADUG. It also established that several factual witnesses called by the club gave untruthful testimony during the 42-day hearing. Manchester City denied all wrongdoing, labelled the commission's opinion unsafe with clear material errors, and confirmed plans to pursue an immediate appeal.