Manchester City have once again made their stance clear on the financial breaches they are accused of when announcing record-breaking revenue in their 2023/24 annual report. Having won a fourth consecutive Premier League title, City's sustained profitability hit £73.8million.
Recent success for Pep Guardiola and City has been somewhat clouded by the Premier League accusing them of financial wrongdoing. Though 115 is the number that is known to most, it is actually 130 alleged breaches with the legal case to determine if City broke profit and sustainability rules concluding recently.
A verdict is expected to arrive in early 2025 but a final outcome and thus possible punishments, could actually not arrive until the 2025/26 campaign, factoring in appeals. Premier League expulsion, while unlikely, is a possibility if City are found guilty, however they continue to deny any rules were broken with that stance taken yet again.
A portion of their significant financial report announcing increased revenue to £715million, again stated City welcome the investigation into those alleged breaches. "The Board acknowledges that there are a number of risks and uncertainties which could have a material impact on the Club’s performance," itread.
"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.
"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."