halfcenturyup
Well-Known Member
- Joined
- 12 Oct 2009
- Messages
- 12,067
Nah this is wrong, Mancini's 2 contracts, the one with the club to be manager and the one with Al Jazira were both signed on the same day, so the "he couldn't sign as manager yet" theory can't be true.
IMO It's pretty clear they were using the Al Jazira job as a way of paying Mancini tax free money. For starters, City were only paying him £1.4m per year to be manager which is less than half what Mark Hughes was reportedly paid (£3m) by the Shinawatra regime. Which would probably make him the only employee at the entire club that earned less in 2009 than his pre-takeover equivalent.
And then there's the email (We have some payments that require to be made by Al Jazira...We will need to send monies to ADUG and ADUG will then pass on to Al Jazira with payment instruction.) which intimates money is going from City to Al Jazira. What reason do Manchester City have to send money to Al Jazira to "make payments"? That seems clear that City were using Al Jazira just as an intermediary.
The real question is not whether it happened, it's whether it was actually against the rules to do so. There's no FFP at this point, the financial rules were much less strict.
Also the amounts we're dealing with here...something like £5m total, 14 years ago?
The thing is we don't know, do we?
There could have been a pre-existing contract that was amended (for tax optimisation reasons, for example) when he signed the contract with City. All we know is what was leaked. We have no idea of the context.
And for the payments described in the emails, they don't explain how they were accounted for, which is the crucial missing element. The payments are a credit entry. Where did the debit go? Only two options: expenses or receivable. If expenses, how is that understating expenses as the PL claims? If receivable from ADUG or AJ why is that a problem when there are two contracts, one nothing to do with City?
What is missing in all this is context and accounting, without knowing those, conclusions are impossible. Clearly, it's all a bit messy, but that doesn't mean it's wrong.