New evidence related to Manchester City's sponsors is expected to emerge, potentially impacting the impending trial over the club's 115 Financial Fair Play (FFP) charges. This new information could have significant implications for the Premier League side.
The 2023 Treble-winning football club is facing allegations of breaching Financial Fair Play (FFP) regulations, with accusations that Etihad Airways played a significant role in these breaches. It has been reported that the airline only paid a fraction of their sponsorship obligation to the club, with the rest allegedly covered up through disguised equity funding from the club's owners. However, recent reports suggest that Etihad Airways' decision to go public on the stock exchange may indicate that these allegations are unfounded.
Reports from the Middle East suggest that Etihad's decision to go public would require full disclosure of their financial accounts and practices, potentially undermining any claims of wrongdoing. Market insiders believe that such unrestricted access would not be granted if there were any hidden irregularities.
A senior figure in the banking industry has expressed the seriousness of the allegations, stating that if Etihad executives were found to be involved in manipulating the sponsorship deal with the club, it could have significant repercussions for the company's reputation and its potential investors. Moreover, the accusations raise concerns about the information disclosed to investors before the American private equity firm Silverlake acquired a stake in the club in 2019.
Despite the allegations, the football club continues to assert its innocence and will face a trial for the alleged wrongdoings, with a potential hearing date set for late autumn of this year.