When we had the discussion on here about the CAS case, pretty well the only thing we disagreed on was your view that as long as Etihad paid us a sum of money, and we accurately recorded that sum of money in our books, there was no case to answer. My view was that the source of funds was crucially important.
We know, from CAS, that we received money from Etihad, we recorded it properly, it wasn't mainly funded by ADUG and that Etihad got full value for the sponsorship they paid us. That's not fraud. If that's the interpretation or implication of the PL, then they're simply trying it on.
Had Etihad only paid us £8m, and we recorded it as £60m, with no accounting entries to support the missing £52m, that would definitely be classed as presenting knowingly incorrect financial statements and therefore potentially fraudulent. But we didn't do that.
We agree, with respect to Fordham and Mancini, that there seems little mileage in the PL pursuing these. So the implication, as you say, is that it's probably the sponsorships they're majoring on. But these, as you've brilliantly and consistently pointed out on Twitter to various dickheads like Harris and others, were comprehensively dealt with at CAS, including the supposedly time-barred Etisalat contract.
So unless there's some sort of smoking gun that the PL have discovered, I'd wager these charges were going nowhere as well. But if there was a smoking gun that led to a reasonable suspicion of criminal offence having been committed, the SFO would almost certainly have been brought in by now, as the FSA did in your case, having accused your company of what (had it been proven) would have been a large-scale and knowing misrepresentation of their finances to put a higher value on the company they were selling. But I assume there was no evidence that had happened and the case was dropped, ending in a small, no-liability settlement.
The SFO haven't been involved in our case though (at least not that we know of) despite 4 years of investigation, which suggests there is no smoking gun.
The PL and UEFA may have alleged or implied fraud, but I think you and I both firmly believe that this is complete, hyperbolic nonsense and the likelihood is that the PL will end up with egg on its face over the substantive charges but having successfully smeared us.
So this, once again, is what I think is happening:
The PL spent four years investigating the club and had a number of issues that couldn't be resolved from the club's accounting records. We think we know exactly what they are. They asked for information from third parties (ADUG as was, Etisalat, Etihad, for example, maybe also Fordham and Mancini) and the club refused as a matter of principle because the PL has no right to information from third parties (until this year anyway) and to prevent an expanded fishing expedition into third party records (the club wanting to control what third party information to present, not the PL). But the PL knows, from CAS, the evidence to refute the allegations is at third parties. If the club wasn't going to provide it to the investigation, they eventually had to shit or get off the can.
So they shat out every allegation that couldn't be refuted by the internal records the club handed over.
This would explain why: there are so many charges, why the PL changed their investigatory powers to get access to third party information, the charges for non-cooperation and lack of good faith despite the club's conviction that it has complied, and the apparent challenge by the club on applying new rules to previous periods.
This also clears up the concern/lack of concern over fraud between some of our more respected posters on here. It's undeniable that the strict
legal implication of the total set of alleged breaches is one of fraud and the actual charges (that we haven't seen) may set out a case for fraud, but I don't believe the PL would expect that outcome based on what happened at CAS. So, although, the club must absolutely defend itself as robustly and completely as possible, and for as long as it takes, against the implication, I just don't think the PL's heart is in it.
Absent any smoking gun (which would have to come from third parties anyway, so very unlikely) the PL is just following their process and are waiting for the club to present its third party evidence to make it all go away.
My theory anyway.
Note that, if any of this is true, it is the club that has manipulated the PL into these charges, presumably so that they can all be cleared once and for all (as they said in their statement) rather than the PL out to "get" the club, even if certain other clubs would be happy with that.
Just a few thoughts. Probably all bollocks. And remember, I thought we must have been fucked at CAS but we weren't. I think we are fine here, so we are probably fucked :)