One hundred and fifteen, that is the number of charges the Premier League filed against Man City back in February, which predominantly concern the club’s finances.
The allegations have since been referred to an independent commission and City’s hiring of Lord Pannick KC as their defence lawyer, who has £10,000-an-hour rates, shows the severity of the case.
So, as you can imagine, Wednesday’s news that saw City announce a revenue of £712.8million – a Premier League record – following their treble season, was met with a level of scrutiny.
The report did not break down their commercial revenue, and at a time when their sponsorship deals are under a microscope, it does not clear up the anomalies from deals that have been scrutinised in the media.
For reference, Liverpool’s latest set of accounts – to the end of May 2022 – was a club-record £594m in revenue, that is £118.8m less than City for 2022/23.
That in itself is puzzling, but that City can lead the likes of Liverpool and Man United in commercial revenue is another layer to a murky story. And social media was, understandably, full of sceptics:
“The board acknowledges that there are a number of risks and uncertainties which could have a material impact on the club’s performance,” City’s report stated.
“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.”
The charges filed against City could take up to four years to conclude, but who knows if that will be the case – it would not be a surprise to see it dragged on for a lot longer and even then, there isn’t much faith around the process or outcome.
