Manchester City continue to state their innocence as an independent panel begins to review their 115 charges of alleged financial misconduct against the Premier League
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A general view of the Etihad Stadium
Manchester City have freshly addressed their charges of alleged financial misconduct (Photo by Matt Watson/Southampton FC via Getty Images)
(Image: Matt Watson/Southampton FC via Getty Images)
Manchester City have reaffirmed their adherence to the Premier League's financial regulations both in the past and future. This comes as an independent commission gets to work reviewing their recently-finished trial against the league over 115 alleged rule breaches.
Between September 16 and December 6, 2024, the hearing took place over the 115 charges - later upgraded to 130 - levelled against City for financial misconduct dated between 2009 and 2018. Throughout the process the club have strongly denied all wrongdoing over the matter and hope that their 'irrefutable body of evidence' will prove as such.
Premier League rivals such as Liverpool will now be keeping an eye on the decision of the independent panel, which is expected next year, due to numerous factors. For a start, they will wish to know the exact punishment placed on their rivals should they be deemed guilty for any of the charges.
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Some are more serious than others as the list of possible penalties has grown to include fines, transfer embargoes, stripped titles or most severe of all, relegation. It was also reported as the trial took place that City were expecting rivals such as Liverpool to contact them to serve legal notices that reserve the right to seek compensatory damages if the eight-time Premier League champions are found guilty.
The Reds' rivals have now released their latest financial report, charting progress for the year ending June 30, 2024. In short, they have posted record-breaking revenues of £715m with sustained profitability at £73.8m.
As part of the document, the following statement was included.
"The Board acknowledges that there are a number of risks and uncertainties which could have a material impact on the Club’s performance. The Club’s income is affected by the performance of the first team because significant revenues are dependent upon strong team performances in the Premier League, domestic and European Cup competitions.
"The Club is regulated by the rules of the FA, Premier League, UEFA, and FIFA. Any change to these regulations could have an impact as the regulations cover areas such as: the distribution of broadcasting income, the eligibility of players, and the operation of the transfer market.
"The Club monitors its compliance with all applicable rules and regulations on a continuous basis and considers the impact of any potential changes."
Directly addressing the charges, they say: "On 6 February 2023, in accordance with Premier League Rule W.82.1, the Premier League referred a number of alleged breaches of the Premier League Rules by Manchester City to a Commission under Premier League Rule W.3.4.
"In February 2023, in response to the charges, the Club issued a public statement that it welcomes the review of this matter by an independent Commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position.
"Manchester City will continually aim to be profitable in combination with on-pitch success primarily in the Premier League and UEFA Champions League."