Manchester City’s chief executive, Ferran Soriano, has said the guilty verdicts against the club for breaches of financial rules are based on “a single false accusation” and a “Premier League conspiracy theory”, as he maintained City’s innocence.
It was confirmed on Tuesday that City, according to an independent panel, had artificially inflated revenue and reduced costs by more than £900m over a nine-year period through “sham” sponsorship deals, which were mainly funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), which owned the club. In a video sent to City staff after confirmation of the guilty verdict on more than 100 charges, Soriano said the club would appeal and fight the case.
