I don’t think a complete conclusion can be drawn, without sight of all the emails, around that time, relating to sponsorship; however as blue as the tint in my specs might be, I can’t help but read the emails without feeling disappointed at what appears to have been proposed.
It doesn’t sit well with me, but then again, we don’t have full context, and I’m sure it’s the sort of financial manipulation that any club (or global company) might consider and discuss, without following through on.
All that said; one of the main things that supports the narrative, that what was alluded to in the emails was not actually carried out, is that the entities and companies involved, in these sponsorship deals, are held to much more stringent financial scrutiny than the likes of the average top level football club.
Where a clearly inept organisation like UEFA scrutinises a club’s finances; the financial auditing that sovereign state owned companies must have to go through (ie ETIHAD), on a global platform, would surely throw up red flags, that would have made any nefarious activity blatant?