Manchester City to appeal after guilty verdict on Premier League financial breaches, club asserts innocence

Manchester City said it will challenge the independent commission’s decision that found the club guilty of serious breaches of Premier League financial rules. The statement was issued soon after the league released its announcement of the verdict, with the club maintaining that it remains innocent of the charges.

The commission’s report alleged that City arranged “sham” contracts, filed misstated accounts and concealed the true state of its finances during the period under investigation, and it upheld three of four alleged breaches concerning the club’s lack of cooperation with the inquiry.

In its response, the club described itself as “disappointed and surprised” and claimed a “comprehensive body of irrefutable evidence” backs its position. It also argued the commission’s opinion contains “clear material errors, of law, principle and fact,” calling the findings unsafe and pledging to be “relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums.”

The guilty ruling does not yet dictate any penalty; the Premier League must still consider possible sanctions, which could be altered by the forthcoming appeal. City chief executive Ferran Soriano, who was in Denmark for a European Football Clubs executive board meeting, offered no public comment, though reports suggest he hinted the process may take longer. The club said it will limit further public statements until all proceedings are complete.

Source: www.gistreel.com