Sham City: verdict on financial breaches is damning and punishment must be severe
How can Manchester City be trusted under these owners after they were found to have devised £900m of ‘sham’ contracts?
TL;DR
- Manchester City found guilty of numerous financial breaches by an independent commission.
- Charges include overstating income by £855m and understating outgoings by £66m.
- Sponsorship deals described as 'shams' to disguise owner investment.
- Club accused of deliberate deception, misinformation, and frustrating the investigation.
- Manchester City maintains innocence and plans to appeal all charges.
- The verdict is considered the 'greatest fraud ever perpetrated on English football'.
- Sanctions will be determined in a separate hearing, with calls for severe punishment.
- The club's reputation and integrity are severely damaged by the findings.