Manchester City faces allegations of money laundering after a reported £300 million payment from an unknown source came to light.
Recent reports from The Times have unearthed shocking information from a 2020 UEFA report, which was never officially published.
The alleged events took place in 2012 and 2013, involving a mysterious payment made to Manchester City. The payment was purportedly made to hide tax payments if the club received funds from sponsors.
It is important to note that Manchester City received two payments of £15 million each from an undisclosed source.
According to the information, the funds originated from the Abu Dhabi United Group (ADUG), the owner of Manchester City, headed by Abu Dhabi vice president Sheikh Mansour Zayed Al Nahyan. The payments were linked to a major sponsor, the UAE telecommunications company Etisalat.
During the investigation, a Premier League lawyer revealed his belief that the payments were made by an individual named Jaber Mohammed.
The lawyer stated that Jaber Mohammed is a business person providing financial services and brokerage to organizations in the UAE, with the alleged funds being classified as illegal.
Multiple sources have presented conflicting opinions regarding the necessity for Manchester City to involve a broker in handling the sponsorship funds, leading to theories of money laundering.
While Manchester City has emphasized their compliance and cooperation in a refund process back in 2015, UEFA reportedly did not accept this argument.
If further investigations into the £30 million payment are pursued, Manchester City could potentially face a two-year ban from European competitions.
Maintaining financial transparency among clubs is crucial to uphold fairness within the game. However, the Court of Arbitration for Sport (CAS) overturned the ban, citing that the payment was past due.
Manchester City has managed to escape severe consequences and has steadily established itself as a force in European football.
Since the early 2010s, the club has made significant strides, asserting its position as one of the top teams in the world. The early development of Manchester City occurred under the management of Manuel Pellegrini and Roberto Mancini, two prominent strategists.