Premier League champions Manchester City are facing another financial probe after La Liga president Javier Tebasreported the club to the European Union, alleging financial misconduct similar to the infamous Enron scandal.
What Happened?
Tebas claims City has manipulated financial records by shifting losses to external companies within their City Football Group, allowing them to appear more profitable. Speaking at the Financial Times Business of Football summit, he stated:
“All they do is think about how they can avoid the rules and regulations. We have reported this to the EU with facts and figures… The City case is one where we believe they have put the losses on companies not officially part of City Football Group.”
He also raised concerns about City’s sponsorship deals and capital contributions, suggesting that some affiliated companies charge City below-market rates, making their expenses seem lower than they actually are.
Manchester City’s Response
City has strongly denied the accusations, insisting that their financial accounts are public and transparent. This comes as the club awaits the verdict on 115 Financial Fair Play (FFP) charges brought by the Premier League.
What’s Next?
Amid these off-field issues, Pep Guardiola’s side will turn their focus to the pitch as they face Plymouth Argyle in the FA Cup fifth round on Saturday.
