UAE and Manchester City: Sportswashing
According to British reports, Manchester City feeds on the huge funding from the UAE. It doesn’t depend at all on sponsorship or advertising income.
The reports mentioned that Abu Dhabi spends lavishly on the club in an attempt to clear its image, according to the Democracy Centre for Transparency (DCT).
The center pointed out that Mansour bin Zayed owns the club. He is a member of the royal family of Abu Dhabi, the wealthiest family on this planet.
It added that Manchester City is Bin Zayed’s private investment. However, the government of Abu Dhabi and the royal family are investing in it as well.
The Democracy Centre for Transparency (DCT) mentioned that Manchester City could get a funding of $1 trillion.
The center added that the company that owns Manchester City is registered in the UK. And submits the club’s financial results to the British competent authorities.
The DCT explained that the club has no debts and does not pay any interest to any company. The owner spends his money and uses debt-for-nature swap and stock swap to make sure the club doesn’t owe him anything.
The center pointed out that Mansour bin Zayed and his family have large investments in each of the. 100 largest companies of Dow Jones, Footsie, and Dax.
Manchester City and Corruption Suspicions
Recently, Manchester City faced a new corruption case and violation of the regulations within a long series of financial fraud.
The New York Times revealed that Manchester City faces a new legal battle. The club again is dealing with accusations of violating the regulations of financial transparency.
While the club is preparing to win its third English Premier League title in the last 4 seasons. It is having a secret legal battle against the English Premier League.
The club has been trying to prove its commitment to the Financial Fair Play Regulations in recent years. In which it became one of the richest clubs.
The English Premier League has been silent. It had announced that it was in the process of auditing the club’s financial accounts in 2019. Back then, Der Spiegel revealed that Manchester City hid some direct investments given by its owner. Sheikh Mansour, in the form of sponsorship income.
The decision of the English Premier League, in case Manchester City is found guilty of violating the Financial Fair Play Regulations, is still unknown. The list of punishments provided by the League’s law, in this case, includes fines and points deduction.
According to New York Times, Manchester City will get direct funding from Mansour bin Zayed. Indeed, he is the brother of Abu Dhabi Crown Prince, Mohammed bin Zayed. And he had a successful legal battle in 2020. He won the appeal against the decision to ban him from participating in the Champions League for two years. This was after the Union of European Football Associations (UEFA) considered that the club’s management had violated the Financial Fair Play Regulations.
UAE had spent more than $1 billion to turn Manchester City into one of the dominant teams during the last decade. He brought the best players and coaches, the latest of whom was the Spanish coach Pep Guardiola.
Last February, the European Football Association (UEFA) decided to ban Manchester City from participating in the League for two years for violating the Financial Fair Play Regulations.