PL charge City for alleged breaches of financial rules

[KS55]

The Barclay family has regained control of The Telegraph and The Spectator today. This required them to repay Lloyds Bank 1.2 billion and they have received this money from Redbird IMI in order to do so. IMI is a media investment company wholly owned by Sheikh Mansour and this company has actually put most of the money up - Redbird are fronting it.

The government has referred this deal to both Ofcom and the CMA to see if the eventual transfer of the shares to Redbird IMI is allowed. It will be interesting to see the outcome as it will give an indication of how much clout Abu Dhabi has with the UK government. There is a lot of hostility from both senior Conservatives and all the senior staff at the Telegraph, with lots of articles vehemently against the eventual takeover. Abu Dhabi is either a friendly nation that the UK encourages to invest in the country or it's not. Only last week, Jeremy Hunt had the begging bowl out in an event at which Khaldoon attended for instance.

The objections are more to do with foreign ownership per se, rather than the identity of the investor.

 

[KS55]

Not sure, mate. I speak with many City fans who don’t have a clue about what’s going on, they just stick to the footie. There’s even more from other clubs and it’s good to see that when this becomes an issue, they seek out the reality rather than what the red media tell them.

Bluemooners sometimes forget we are just a subsection of City supporters, not the whole lot.

 

[KS55]

City went to the High Court to challenge the PL right to documents and lost so, I find it hard to understand how the PL can charge us as post the verdict the club said they would accept it and cooperate

Yes, it was basically a dispute about discovery. The PL will still maintain that we did not co-operate willy nilly.

 

[whipper]

What about Khaldoon's reputation? Not exactly an upstart.....

As Managing Director and Group Chief Executive Officer of Mubadala, Khaldoon Khalifa Al Mubarak has led the company’s significant evolution for two decades. Through organic growth, acquisitions, and mergers, Mubadala has become a $276 billion business with assets in more than 50 countries across six international offices. With a global and entrepreneurial mindset, Mubadala is a responsible sovereign investor that generates sustainable financial returns for its shareholder, the Government of Abu Dhabi.

In addition to his commercial responsibilities, Khaldoon holds a number of UAE Government and Abu Dhabi Government responsibilities, including: Member of the Abu Dhabi Executive Council since 2006; Founding Member of Abu Dhabi’s Supreme Council for Financial and Economic Affairs; Presidential Special Envoy to China since 2018; and Founding Chairman of the Executive Affairs Authority, which provides strategic policy advice to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates.

Khaldoon also serves on the Boards of several significant businesses, including the Abu Dhabi National Oil Company (ADNOC), and serves as the Chairman of the Boards of the Emirates Nuclear Energy Corporation, Abu Dhabi Commercial Bank, Emirates Global Aluminium and City Football Group.
Additionally, Khaldoon Co-Chairs the Abu Dhabi-Singapore Joint Forum and the UAE-France Strategic Dialogue.

He is also a member of the New York University Board of Trustees.

Lazy arse :)

 

[The perfect fumble]

As you say it isn’t just taking a little cash out the till it’s a lot worse. Even more reason for someone to take the fall. They can say they have done nothing wrong and I believe them and I will still believe them of it goes against us if it does however I have no hope on the appeal and loosing that appeal would increase pressure would be near impossible to hold the line of having done nothing wrong. Appeal to the proper legal jurisdiction is apparently very hard and therefore holding the line and saying we will wait longer for the correct verdict before taking action against any executives is also very hard

We will not cull any executives in the event of a guilty verdict and the reason is simple, a cull would be a recognition by us that we not only accept a guilty verdict but agree with it! And that's something we will never do.

 

[inbetween]

That would be my understanding I'd there was any indication of fraud it would need to be reported to relevant authorities and any action that could prejudice any trial would need to pause. Perhaps that's why took 4 years.

There is a difference though between actual fraud and what's considered as legal accounting practice. Actual fraud demands investigation by authorities. There is however zero evidence been put forward that a crime has been committed by city and the Premier League is not a criminal investigative body, so there is no fraud period.

With city this is all about creative accounting and the simple fact that random people at the Premier League or elsewhere has decided to make rules to target it. It all comes down to this, the rules are if Etihad pays us £100m for sponsorship then the Premier League now has to know the details of that transaction. Etihad definitely won't and city quite rightly will disclose the bare minimum, this then potentially becomes a breach.

The clubs argument quite rightly though is that Etihad is a separate business entity and its financial transactions have nothing to do with city. Disclosure of such details do not happen anywhere else in any other industry in the world so why here? If these details are structured creatively but legally then there isn't a problem, it certainly isn't fraud.

It all comes down to your opinion on sponsorship, can a party sponsor itself via a third party? Could Mike Ashley name Newcastle's stadium the Sports Direct Arena? Under these rules apparently not but you have to ask why not? It therefore just comes down to opinion and because it's opinion based how can it ever stand if challenged in court?

 

[KS55]

Can't speak for all Newcastle fans, but the ones I know always had a soft spot for Man City probably because of our tete a tetes with Man Utd in the 90s. When you won the lottery we were happy for you, you'd shake up the established elite and for a team with history and a good fanbase to get back among the big boys was a blessed relief after Chelsea's rise.

Not going to lie, there was a little jealousy when we were at our nadir under Ashley and you were hoovering up the best managers, players, and trophies galore. Now that we've got our new owners there's a sense of being in the same boat; the established teams trying their damndest to shut the door on us, the conversations about sportswashing, people seeing corruption and cheating where in reality it's just good football people making good football decisions. Just need to start getting those trophies.

Always have a good laugh with you lot, more so than fans of the other 'big clubs'. There isn't the entitlement, the arrogance. There might be amongst some of your newer fans, but the blokes I've chatted to are decent. Any time I've spoken to Man City fans they remember where they were before the takeover, watching your team lose to Stockport County and shit like that. It helps that your manager is likeable, that you play entertaining football and your players aren't... (I dunno what the profanity filter is like on here so insert your favourite pejorative here).

I even chatted to a rag yesterday who expressed admiration for us. Wow.

 

[Chi-town blues]

As a Newcastle fan these new rules they're* trying to push through are hilarious and so fucking transparent. We've abided by FFP, we've got a stack of new 'fair market value' commercial deals, and now here's some new hurdles. The established cartel are bricking it that we'll usurp them.

We can't loan a player from the Saudi league, but literally every other club in the league can? That seems totally fair. Will it stop Chelsea hoovering up young players from their feeder clubs, or Man Utd, or Liverpool? Course it won't.

We can't get a sponsor unless we've got similarly valued bids from other companies? Has that been the case for Man Utd's official tractor partner? Were there multiple tractor companies all offering up partnership deals for the same price? Was there shite.

We've not spent anything like the money Chelsea and Man Utd have, and yet we're still above them, still playing better football, still fielding the likes of Jamall Lascelles and Jacob fucking Murphy. This is all because they're scared their time at the top is coming to an end, they're trying to pull the drawbridge up behind them.


*by "they" I mean Arsenal, Chelsea, Liverpool, Man Utd and Spurs.

That set of rules are seriously fucked up .I mean they are literally caging individual club with tailor fit bullshit as they wish.How is that called leveling playing field when chelsea can spend all they want and rags are buried deep inside shit load of debt ?

 

[KS55]

What about Khaldoon's reputation? Not exactly an upstart.....

As Managing Director and Group Chief Executive Officer of Mubadala, Khaldoon Khalifa Al Mubarak has led the company’s significant evolution for two decades. Through organic growth, acquisitions, and mergers, Mubadala has become a $276 billion business with assets in more than 50 countries across six international offices. With a global and entrepreneurial mindset, Mubadala is a responsible sovereign investor that generates sustainable financial returns for its shareholder, the Government of Abu Dhabi.

In addition to his commercial responsibilities, Khaldoon holds a number of UAE Government and Abu Dhabi Government responsibilities, including: Member of the Abu Dhabi Executive Council since 2006; Founding Member of Abu Dhabi’s Supreme Council for Financial and Economic Affairs; Presidential Special Envoy to China since 2018; and Founding Chairman of the Executive Affairs Authority, which provides strategic policy advice to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates.

Khaldoon also serves on the Boards of several significant businesses, including the Abu Dhabi National Oil Company (ADNOC), and serves as the Chairman of the Boards of the Emirates Nuclear Energy Corporation, Abu Dhabi Commercial Bank, Emirates Global Aluminium and City Football Group.
Additionally, Khaldoon Co-Chairs the Abu Dhabi-Singapore Joint Forum and the UAE-France Strategic Dialogue.

He is also a member of the New York University Board of Trustees.

Just a lightweight, then.

 

[Xhavenjoe]

Mention of Everton, they were champions at the time of Heysel which got English clubs a European ban. By the time of English clubs being invited back, Everton were well past their best and their one big chance of growing that club's finances was gone

Just looked up what other teams were affected by the ban re: entry to Europe football and these 3 popped up.
Luton, Wimbledon and Coventry.
God knows how many others.