Home / Sports / City Charged: Sham Contracts & £800M Funding Scandal
City Charged: Sham Contracts & £800M Funding Scandal
20 Oct
Summary
- An independent commission found City guilty of numerous charges.
- The club allegedly used sham contracts for over £800 million in funding.
- City plans to appeal the commission's findings, expressing surprise.
An independent commission has delivered its verdict, finding City guilty on nearly all charges levied against them. These charges prominently include the alleged use of 'sham contracts' to conceal more than £800 million in funding over a nine-year period. This funding originated from the Abu Dhabi United Group and the club's ownership.
In response to the commission's findings, City released a statement expressing both disappointment and surprise. The club has confirmed that they will be lodging an appeal against the verdict. The full implications of this decision and the appeals process are set to be explored further.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
