La Liga chief Javier Tebas has revealed that he has personally reported Manchester City to the European Commission who he now claims are set to launch an investigation
Manchester City could face another investigation (
Image: PA)
Manchester City have been accused of an “Enron” style financial scandal.
La Liga chief executive Javier Tebas says he has reported the Premier League giants to the European Commission and claims they are investigating the case. Tebas has alleged that City have spread their losses and hidden them in a series of related marketing and scouting companies to manipulate their financial fair play figures.
The Enron scandal rocked the United States amid a massive accounting fraud and bankruptcy case worth billions.
Tebas, talking at the Financial Times Business of Football summit, said: “All they do is they think about how they can avoid the rules and regulations. We have reported this to the European Union with facts and figures.
“The UK might not be part of the EU but City have commercial activities in Europe and in July 2023 the EU ruling said that they could look at state-aided companies, whether they are based in the EU or not.
“So we asked for City to be checked. It’s very important that all clubs are subject to the same transparency rules and governance on both the sporting and financial side. We haven’t had a reply so it must be under the investigation phase.
“The City case is one where we believe they have put the losses on the companies that are not officially part of City Football Group.
“You remember the case in the USA, the Enron case. They put losses into different companies. These are similar cases. We also reported City about sponsorship and capital contributions.
Javier Tebas says he has reported the Premier League champions ( DeFodi Images via Getty Images)
“They have a scouting company, a marketing company. That’s where they have very high expenses. They invoice City for less money. City have costs that are less than if they didn’t have this circle of companies around.”
Manchester City say Tebas has a long history of attacking the club and refused to comment. But they strongly refute the allegations and pointed to their accounts as proof of no wrongdoing which are a matter of public record.
It is the latest bombshell to hit City who are awaiting the verdict of a Premier League case after allegations of 115 charges of alleged financial rule breaches.
The outcome of the Premier League case is due imminently. City deny any wrongdoing and insist they will clear the club’s name. If they are found guilty, they could face a huge points deduction.
Join our new WhatsApp communityand receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.
