Liverpool owner John Henry backed Arsene Wenger in a 2011 tweet after the Arsenal manager questioned Manchester City's £400 million (around $500 million) Etihad sponsorship deal
John Henry questioned Manchester City's conduct 15 years ago
John Henry questioned Manchester City's conduct 15 years ago(Image: Getty Images)
One of John Henry's most memorable moments as Liverpool owner occurred when he publicly challenged Arsenal following their attempt to secure Luis Suarez's signature in the summer of 2013.
Taking to the social media platform then called Twitter after the Gunners attempted to trigger a release clause in the striker's contract with a £40 million and £1 bid (around $50 million), he famously posted: "What do you think they're smoking over there at Emirates?"
However, that post may now face competition after an even earlier tweet from Henry resurfaced and gained renewed attention following Manchester City being found guilty of 114 out of 115 charges relating to supposed breaches of the Premier League's financial regulations between 2009 and 2018.
The Premier League issued a scathing statement on Tuesday confirming the findings of an independent panel, which outlined City's misconduct throughout the period.
This encompassed how City orchestrated "sham" contracts with several of its commercial partners and sponsors to misrepresent the genuine financial arrangements between the parties, artificially inflating the club's revenues while reducing its costs, whereby companies were only obliged to pay a fraction of the relevant sponsorship fees, with the balance financed by club owners Abu Dhabi United Group Investment and Development Ltd (ADUG).
For the record, City continues to maintain its innocence and plans to appeal against the ruling. However, one particular agreement was highlighted by former Arsenal boss Arsene Wenger back in 2011, with Liverpool owner Henry turning to social media to express his support for the Frenchman.
Arsene Wenger was stunned by Manchester City's activity at the time
Arsene Wenger was stunned by Manchester City's activity at the time(Image: Getty Images)
City unveiled a groundbreaking £400 million (around $500 million) sponsorship arrangement with Etihad Airways, with the decade-long agreement worth £40 million annually to the club. Such figures significantly surpassed Arsenal's corresponding deal with Emirates, struck in 2004, which was valued at £90 million (around $120 million) across 15 years.
City's partnership with Etihad resulted in the club's stadium being rechristened the Etihad Stadium, the airline providing financial support for the Etihad Campus surrounding the ground, and extending its shirt sponsorship, having previously contributed £2.3 million (around $3.1 million) annually for those rights. By comparison, approximately £48 million ($63.8 million) of Arsenal's deal derived from shirt sponsorship, with Emirates Stadium naming rights valued at £2.8 million (around $3.7 million) per year.
"We must have done a bad deal," Wenger remarked, dryly, at the time as he called upon UEFA to investigate and claimed City was circumventing financial fair play regulations. "It raises the real question about the credibility of the financial fair play," he said. "That is what this is all about. They give us the message that they can get around it by doing what they want.
"It means financial fair play will not come in. It is as simple as that. I can understand how they do it, but it raises the real question. The difficulty and the credibility of the financial fair play is at stake.
"Plus, if the financial fair play is to have a chance, the sponsorship has to be at the market price. It cannot be doubled, tripled, or quadrupled because that means it is better that we don't do it, and we leave everybody free. That can be defended as well, but if they bring the rules in, they have to be respected."
City was quick to rebuff Wenger's remarks in an official statement, defending the arrangement and branding his observations regarding the partnership as "unfounded and regrettable."
Henry, however, threw his weight behind Wenger's stance, taking to social media to declare: "A club's best player has to be worth at least 10% of your naming rights. Mr. Wenger says boldly what everyone thinks."
Competing clubs have long harbored doubts over City's financial conduct, suspicions that have now proved well-founded following the club's guilty verdict.