In Section 1, we are accused of knowingly submitting information relating to sponsorship revenue and related parties that did not provide a true and fair view of the club's financial position.
In Section 4, Rule E.54 states that the Premier League Board has the power to determine whether revenue from a Related Party Transaction has been recorded at Fair Market Value. If it concludes that it has not, the League can make an adjustment and substitute its own Fair Market Value assessment.
So my point, which has probably been done to death on here over the last three years, is that maybe the Premier League's case is simply that some or all of the Abu Dhabi-linked sponsors should have been treated as related parties, either because of ownership links or because of the influence figures such as Simon Pearce and Khaldoon Al Mubarak were alleged to have through their positions within the Executive Affairs Authority.
If that's the route they've gone down, then, just as we saw in the APT case, they may have instructed an external firm to assess whether the sponsorship deals were at Fair Market Value. Presumably that assessment didn't come back in City's favour, which then leaves City having to prove either that the companies were not related parties in the first place, or that even if they were, the deals were still at FMV.