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Naughty Emirates Marketing Project - Spot of Compo??

Key findings include:
• The club arranged ‘sham’ contracts with commercial partners (and relied on other ‘sham’ agreements) that misrepresented the true arrangements. These formed part of a disguised funding scheme in which sponsors paid only a portion of the fees, with the rest funded by Abu Dhabi United Group Investment & Development Ltd (ADUG, the club’s owner). Additional ‘sham’ arrangements (also funded by ADUG) artificially reduced reported operating expenses, and a ‘sham’ circular deal involving Fordham (for players’ image rights) was likewise used.
• The schemes artificially inflated revenues and reduced costs by more than £900 million during the period, allowing the club to appear to comply with financial rules.
• As a result, Emirates Marketing Project filed misstated accounts, concealed the true state of its finances from auditors and regulators, and was significantly in breach of both the Premier League’s Profitability and Sustainability Rules and UEFA’s Club Licensing and Financial Fair Play Rules. Accurate reporting would have shown substantial breaches of spending limits.
• The Commission concluded the club “clearly intended to circumvent the PL Rules.”
• During the Premier League’s four-year investigation, the club committed multiple breaches of its duties of co-operation and utmost good faith, making “concerted efforts to stop and frustrate the PL investigation” (three of four alleged co-operation breaches were upheld).
 
MartyFunkhouser said:
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Looks like a man who know’s the gig is up.

Legohamster said:
A billion pounds of fraud.... that is insane.....
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Will be a police matter as well now according to a lawyer just interviewed on the radio. Lisa Nandy has been on there too saying that she’s been on to the PL and told them that the footballing/league situation needs to come to a resolution quickly.

That sound you can hear is £900 million worth of brick hitting an Ethiad shaped fan.
 
Legohamster said:
A billion pounds of fraud.... that is insane.....
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Makes you realise how much more others would have had to have done to compete to the levels to win things regularly and which the fans demand.

Look at the state of what was won by City (top) and Chelsea (bottom)

I will repeat it, utterly insane how much we and others were cheated out of silverware that actually being a well run club (despite complaints on here) would have and should have delivered for us and others.

As someone on here yesterday said, fans should be much more angry about this stuff

1790701845965.png1790701871365.png
 
robp135 said:
Key findings include:
• The club arranged ‘sham’ contracts with commercial partners (and relied on other ‘sham’ agreements) that misrepresented the true arrangements. These formed part of a disguised funding scheme in which sponsors paid only a portion of the fees, with the rest funded by Abu Dhabi United Group Investment & Development Ltd (ADUG, the club’s owner). Additional ‘sham’ arrangements (also funded by ADUG) artificially reduced reported operating expenses, and a ‘sham’ circular deal involving Fordham (for players’ image rights) was likewise used.
• The schemes artificially inflated revenues and reduced costs by more than £900 million during the period, allowing the club to appear to comply with financial rules.
• As a result, Emirates Marketing Project filed misstated accounts, concealed the true state of its finances from auditors and regulators, and was significantly in breach of both the Premier League’s Profitability and Sustainability Rules and UEFA’s Club Licensing and Financial Fair Play Rules. Accurate reporting would have shown substantial breaches of spending limits.
• The Commission concluded the club “clearly intended to circumvent the PL Rules.”
• During the Premier League’s four-year investigation, the club committed multiple breaches of its duties of co-operation and utmost good faith, making “concerted efforts to stop and frustrate the PL investigation” (three of four alleged co-operation breaches were upheld).
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This has always been my point. When the SEC investigated Enron and Worldcom, they didn't need any industry level governance. They are the governance and many executives went to jail. Those companies don't exist nowadays.

You know because of your own job what it means for companies to "cook the books". We shouldn't need a UEFA, PL or FA here to lay down some punishments for false accounting and financial irregularities. It shouldn't be these football governance authorities. Emirates Marketing Project should be told they have to stop trading as a company. There assets should be seized and people should go to jail, just like in high tech or any other industry.

Perhaps someone can explain to me why football is being treated so differently to Enron.
 
Chrissivad said:
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We all know they were breaking rules....
Appeal and lose, do they get demoted an extra league....
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They still claim they have irrefutable evidence of being innocent. Well, those evidences have already been looked at, and they were fake too, just like everything else with that pile of brick club. No matter what punishment they will receive, I can guarantee that everyone, except those connected to City, will find the punishment way to lenient.
 
The Club is innocent of the accusations made by the Premier League and a comprehensive body of irrefutable evidence exists in support of all of its positions, relating to this case. The Club will therefore be relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums.

Both the PL and City were represented at the hearing by King's Council, we don't know the make up the the three person panel yet but at least one has to be of at least King's Council standing and I am sure for a case of this importance the best legal brains would have been selected to sit on the panel yet they did not believe the irrefutable evidence.

Can't wait for punishment or is the appeal going to be heard before any punishment is announced.


This was the panel that heard the Forest appeal , Rt Hon Lord Dyson (chair), David Phillps KC and Daniel Alexander KC, I expect something similar for the City appeal.

Here is the CV of Lord Dyson , these panels are top level legal brains.

John Anthony Dyson,Lord Dyson, PC (born 31 July 1943) is a former British judge and barrister. He was Master of the Rolls and Head of Civil Justice, the second most senior judge in England and Wales, from 2012 to 2016, and a Justice of the Supreme Court of the United Kingdom from 2010 to 2012.
 
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