⚡ Manchester City recorded the money from the owner as sponsorship revenue, £900 million
The Premier League released a statement at the end of September. Out of 115 charges, an independent panel found 114 to be true. In nine years, almost nothing escaped.
At the core is just one thing: phantom (sham) contracts.
The contracts Manchester City signed with a group of sponsors stated one figure, but the amount actually carried out was another. Sponsors only paid the base fee; the bigger portion was made up privately by the owner’s Abu Dhabi fund, ADUG. The club then turned around and booked this owner money as “commercial sponsorship revenue,” and included it in its financial reports.
The Premier League drilled down the numbers to two decimal places. Across nine seasons from 2009-10 to 2017-18, Manchester City’s total sponsorship revenue was £949.94m. The real base fees from sponsors were only £119.25m. The other £830.69m came from the owner. After factoring in the inflated expenses, the net difference shown on the books totaled £920.68m.
What’s the point? The Premier League rule is: “You can’t spend more than you earn.” When Manchester City doesn’t earn enough, it makes the earnings appear anyway.
This tactic should look familiar. In exchanges, volume is “washed”; project parties get insiders to sign a “strategic partnership” to prop up the valuation. The reserve is basically the founder’s money cycled out and back. It’s always turning your own money into someone else’s money with a costume. Manchester City simply applied this trick to football for nine years.
Some context. In 2020, the CAS overturned UEFA’s ban on Champions League participation for Manchester City, reasoning that most allegations were “not substantiated or had already passed the statute of limitations.” This time, the Premier League committee held a ten-week hearing, and not a single point was conceded. In its exact words, the club “clearly intended to evade Premier League rules.”
The punishment hasn’t been decided yet; another hearing will be held. Options on the table range from fines and points deductions to relegation and stripping of titles. Other clubs are already preparing to file claims.
At 7 p.m. local time last night, Manchester City filed an appeal. Co-chairman Khaldoon said “nothing has changed,” and added that no matter how long it takes, they are confident they can prove their innocence. The head coach Maresca sent four words—“I know nothing.”
What really needs scrutiny is how the word “revenue” is being manufactured. On-chain ledgers are public—you can see how much was transferred and by whom. But whether a payment came from a customer or from the owner, the chain only shows addresses, not identities. In this Manchester City case, the Premier League opened the mouth of the story because of leaked emails from 2018—not because of financial statements. Public books don’t necessarily mean real books.
I wrote this piece while BTC’s five quote sources ranged from $86,309 to $86,342, up about 2.8% over 24 hours. ETH is at 2,742 to 2,743, up 1.4%.
$BTC $ETH
#中本聪国际社区Baoluo币商资本 #加密货币 #ManchesterCity
The Premier League released a statement at the end of September. Out of 115 charges, an independent panel found 114 to be true. In nine years, almost nothing escaped.
At the core is just one thing: phantom (sham) contracts.
The contracts Manchester City signed with a group of sponsors stated one figure, but the amount actually carried out was another. Sponsors only paid the base fee; the bigger portion was made up privately by the owner’s Abu Dhabi fund, ADUG. The club then turned around and booked this owner money as “commercial sponsorship revenue,” and included it in its financial reports.
The Premier League drilled down the numbers to two decimal places. Across nine seasons from 2009-10 to 2017-18, Manchester City’s total sponsorship revenue was £949.94m. The real base fees from sponsors were only £119.25m. The other £830.69m came from the owner. After factoring in the inflated expenses, the net difference shown on the books totaled £920.68m.
What’s the point? The Premier League rule is: “You can’t spend more than you earn.” When Manchester City doesn’t earn enough, it makes the earnings appear anyway.
This tactic should look familiar. In exchanges, volume is “washed”; project parties get insiders to sign a “strategic partnership” to prop up the valuation. The reserve is basically the founder’s money cycled out and back. It’s always turning your own money into someone else’s money with a costume. Manchester City simply applied this trick to football for nine years.
Some context. In 2020, the CAS overturned UEFA’s ban on Champions League participation for Manchester City, reasoning that most allegations were “not substantiated or had already passed the statute of limitations.” This time, the Premier League committee held a ten-week hearing, and not a single point was conceded. In its exact words, the club “clearly intended to evade Premier League rules.”
The punishment hasn’t been decided yet; another hearing will be held. Options on the table range from fines and points deductions to relegation and stripping of titles. Other clubs are already preparing to file claims.
At 7 p.m. local time last night, Manchester City filed an appeal. Co-chairman Khaldoon said “nothing has changed,” and added that no matter how long it takes, they are confident they can prove their innocence. The head coach Maresca sent four words—“I know nothing.”
What really needs scrutiny is how the word “revenue” is being manufactured. On-chain ledgers are public—you can see how much was transferred and by whom. But whether a payment came from a customer or from the owner, the chain only shows addresses, not identities. In this Manchester City case, the Premier League opened the mouth of the story because of leaked emails from 2018—not because of financial statements. Public books don’t necessarily mean real books.
I wrote this piece while BTC’s five quote sources ranged from $86,309 to $86,342, up about 2.8% over 24 hours. ETH is at 2,742 to 2,743, up 1.4%.
$BTC $ETH
#中本聪国际社区Baoluo币商资本 #加密货币 #ManchesterCity
