
Sport
Share
Published 09:47 26 Mar 2024 GMT
Updated 09:47 26 Mar 2024 GMT

Manchester City's sponsors are considering making a decision that could impact the entirety of their ongoing Premier League investigation.
The Treble winners were charged with 115 breaches of the Premier League's financial rules in February 2023, with the majority of those relating to sponsorship deals.
Of the many charges they've been accused of, overstating the value of sponsorship deals is one of the most common, with many of the funds from those deals allegedly coming directly from club owners Abu Dhabi United Group.
If the allegations are true it would be a serious breach of Premier League and UEFA financial rules and suggest fraudulent activity between executives at City and the airline.
Man City have denied the allegations and "welcome the review of this matter by an independent commission", adding that they "look forward to this matter being put to rest once and for all".
Further reports now claim that Etihad are reportedly in discussion with banks about potentially going public on the stock exchange - a move that could affect the outcome of the ongoing investigation.
Etihad are reportedly preparing an initial Public Offering (IPO), a process of opening up their account for all to see before going on the stock exchange.
One investment banking expert told The Mirror that it's highly unlikely that Eithad would allow such access if it ran the risk of tampered sponsorship deals. That could eventually amount to fraud and would almost certainly affect any deals with future investors.
A source said: "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 Rule."
An independent panel is expected to hear Man City's case later on this year.
Related links:
Explore more on these topics:
But in fresh developments German publication Der Spiegel claimed leaked emails reveal that main sponsor Etihad Airways were only paying £8m of their official £67.5m obligation to City from the 2012-13, 2013-14 and 2015-16 seasons. The rest of the funds being provided by the owners.
People are just realising the lions on England badge ‘aren’t actually lions’
All of it explained With England’s opener in the World Cup approaching, all eyes are on The Three Lions as they prepare to take on Croatia on Wednesday. While we prepare ourselves for this huge match, what many people don’t know is the rich story of the emblem of the England football team. The English […]
Sport
7h
If Bruno gets assist award at World Cup, he should win Ballon d’Or
Who else? Bruno Fernandes has already had a stellar season, and if he wins the assist award at the World Cup, he should be crowned Ballon d’Or winner. And here’s why… This page contains commercial content and affiliate links. If you take up one of the offers presented, Joe Media Group will receive a share […]
Sport
11h
Sport
Every BBC World Cup pundit, presenter and commentator revealed
Sport