If this transaction is secure, where does that leave UEFA's case given that Etihad relates to the lion share of the sponsorship? UEFA may not like the 'subterfuge' but if the end result, excluding Etihad which we think is OK, was of the order of approx £5m-10m additional revenue, is that worthy of a ban?
The NYT and BBC suggest 'misleading UEFA' is now their prime issue. Yet these sponsorships are about 1-2% of City's current revenue. A ban on top of recent sanctions? That's proportionate!
This is a nonsense line from them though, because misleading them has no relevance to anything unless it's misleading them over something material. I could mislead you saying I've got a 15" pecker, but it matters not unless you try to marry me for it.