Fresh Evidence May Have Huge Implications Amid Man City’s 115 Charges

The forthcoming trial of Manchester City on their 115 Financial Fair Play (FFP) charges could be impacted by recent revelations concerning the team’s sponsors.

The 2023 Treble winners are accused of violating FFP on several occasions, and Etihad Airways is believed to have had a significant influence in such violations. The Emirati airline only paid £8 million ($10.1m) of its £67.5 million ($85.3m) obligation to City, according to German publication Der Spiegal (via The Mirror). The remaining amount was allegedly covered by covert equity funding from the club’s owners. The current choice, as reported by The Mirror, to list Etihad Airways on the stock exchange, however, would refute these assertions.

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According to reports in the Middle East cited in The Mirror’s report, the airline’s decision to be floated on the stock exchange would require an Initial Public Offering. This would involve Etihad allowing full disclosure of their accounts, including all financial affairs and corporate practices. Stock market insiders believe that this unrestricted access would not be provided if Etihad – and by extension, City’s owners – had anything to hide. In other words, if fraud had been committed, as has been suggested.

A senior figure in the banking industry is quoted in The Mirror’s article as saying: “If it came to light that Etihad executives were indeed involved in manipulating the sponsorship deal with Man City, it could cause serious damage to the company’s reputation in the eyes of potential investors. Etihad would also have an obligation to disclose any ongoing investigation into the company’s accounts or conduct before the IPO was launched.

“What the Premier League are alleging is extremely serious, not just in terms of football’s rules and regulations. The accusation is that City executives have colluded with officials from Etihad and have lied not only to the club’s independent auditors but to the Court of Arbitration for Sport.

“By extension, that also calls into question what information was disclosed by City’s owners to Silverlake before the American private equity firm bought a significant stake in the club in 2019. That’s why the Premier League’s allegations go way beyond accusing City of failing to meet Profit and Sustainability Rules.”

The Premier League winners, who have maintained their innocence throughout, believe that this proof will play a significant role in their ability to overcome the 115 allegations against them. A trial date for City‘s alleged misdeeds was tentatively scheduled for late October of this year, at the latest.