Report from UEFA’s Club Financial Control Body (CFCB) adjudicatory committee, determined that two £15 million payments from a broker were actually funds provided by Manchester City’s owners, disguised as sponsorship revenue.
The report, which serves as the written explanation behind UEFA’s decision to suspend Manchester City from European competition for two years, was not made public initially due to the club’s appeal against the ruling.
However, it has now been obtained by the creators of a YouTube film released recently and has also been reviewed by The Times.
It provides further insights into UEFA’s investigation into Manchester City’s financial activities and the allegations of breaching Financial Fair Play regulations.
It should be noted that the Court of Arbitration for Sport (CAS) later overturned the CFCB’s verdict, leading to Manchester City’s suspension being lifted.
CLUB STATEMENThttps://t.co/ueMFeLFowu
— Manchester City (@ManCity) February 14, 2020
When contacted by the PA news agency, UEFA declined to comment on the report.
The report reveals that during a UEFA disciplinary hearing, Manchester City’s lawyers argued that two £15 million sponsorship payments from telecommunications company Etisalat in 2012 and 2013 were actually made by a broker named Jaber Mohammed.
It was further stated that Etisalat repaid the money to City’s owners in 2015.
According to The Times, the adjudicatory committee of the CFCB concluded that arrangements were made to attribute these payments to the sponsorship obligations of Etisalat, disguising their true purpose as equity funding provided by the Abu Dhabi United Group (ADUG), a private equity fund controlled by City owner Sheikh Mansour.
The report states that City’s management was aware of this arrangement.
In July 2020, the Court of Arbitration for Sport (CAS) overturned Manchester City’s two-year suspension imposed by UEFA.
CAS noted that UEFA should not have dealt with the charges related to Etisalat as they had surpassed the five-year time limit.
It is unclear whether the Etisalat payments are part of the Premier League’s ongoing case against Manchester City, which involves 115 charges related to alleged breaches of financial rules and a failure to cooperate with the investigation.
However, if they are included, they would not be time-barred.