Alleged schemes owners used to turn Man City into a soccer power were complex yet simple
The alleged scheming that allowed Manchester City to circumvent European soccer's financial fair-play rules was both sophisticated and, at its core, as simple as it gets. An investigatory panel's findings Tuesday contend that after buying a 90% stake in City in 2008, an Abu Dhabi-based private investment company “ultimately owned by” a member of the United Arab Emirates’ ruling family wanted to turn it into a powerhouse.
Financial rules, though, prevent teams from spending far beyond what they earn, no matter how wealthy their owners are. According to the Premier League, City set up complex schemes to disguise that it was unfairly being bankrolled by its owner from 2009 until 2018. The club denies wrongdoing and has vowed to appeal.
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