{"text":[[{"start":10,"text":"Manchester City has been found guilty of 114 of the 115 charges brought against it by the Premier League over breaches of its financial rules in a decision that will send shockwaves through European football."}],[{"start":23.64,"text":"The club, owned by a member of Abu Dhabi’s ruling family, was accused by the league of breaching rules between 2009 and 2018, and then referred to an independent panel in 2023 following a four-year investigation."}],[{"start":39.06,"text":"The panel has found Manchester City guilty on 114 charges, according to people familiar with the matter, one of whom added that the charge that has not been proven was one of the most serious."}],[{"start":50.4,"text":"The Premier League had argued that the club had broken the rules — such as by inflating sponsorship income and paying some staff off the books — to circumvent limits on spending. It also accused the club of failing to co-operate with its investigation."}],[{"start":64.12,"text":"Manchester City, owned since 2008 by Sheikh Mansour bin Zayed Al Nahyan, has maintained its innocence throughout and plans to appeal, the people said."}],[{"start":74.12,"text":"The ruling risks further straining relations between the UK and the United Arab Emirates that have deteriorated in recent years. A bid to take over the Telegraph newspaper, backed by Sheikh Mansour, prompted the government to ban foreign state ownership of UK newspapers."}],[{"start":89.94,"text":"Abu Dhabi has been particularly frustrated because its sovereign wealth funds are big investors in UK companies and infrastructure, owning stakes in assets from wind farms to telecommunications company Vodafone."}],[{"start":102.28,"text":"UK Prime Minister Andy Burnham said he wanted to review the independent commission’s verdict after seeing reports about the case on Friday."}],[{"start":110.44,"text":"Asked whether City should be stripped of previous titles, Burnham told ITV Granada Reports: “People shouldn’t jump to those kind of conclusions . . . I think we would all need to study the independent commission’s report in some considerable detail.”"}],[{"start":123.48,"text":"On Friday, City said: “The Premier League process remains ongoing, with significant elements to be completed, and subject to strict confidentiality.” The Premier League declined to comment."}],[{"start":135.84,"text":"While a handful of clubs have been docked points for breaking financial rules in recent years, the scope of the City case has no precedent in English football."}],[{"start":142.36,"text":"Sports lawyers said potential punishments, if the findings are upheld, ranged from substantial fines and points deductions to expulsion from the Premier League or the club being forced to pay other clubs compensation."}],[{"start":154.48,"text":"Any appeals and legal challenges could take years to resolve. The club could also face follow-up legal actions by clubs that missed out on titles or prize money during the period of the breaches."}],[{"start":165.92,"text":"“This result, if upheld, will open the floodgates to further legal challenges,” according to Paul Stothard, partner at Norton Rose Fulbright, who added that “other clubs may choose to pursue compensation for lost revenue, missed European qualification or relegation”."}],[{"start":181.92,"text":"Since being bought by a member of the Abu Dhabi royal family in 2008, Manchester City has been transformed into the dominant force in English football, winning the Premier League eight times, the FA Cup four times and the Uefa Champions League once."}],[{"start":196.24,"text":"In that time, the club has spent more than €3bn on player signings, according to estimates from data site Transfermarkt, while recouping about €1.5bn from sales. City’s transfer deficit during that period is the highest in football."}],[{"start":211.16,"text":"Since 2008, the club’s parent company has invested more than £1bn in the area around the Etihad Stadium, its home ground in east Manchester, building a new training ground, residential and office blocks and a live music arena. The verdict in the Premier League case comes just days before the opening of Manchester City’s new hotel next to the stadium."}],[{"start":231.74,"text":"The club’s parent company City Football Group, which has investments in clubs spanning Europe, the Americas and Asia, in 2019 sold a stake to US private equity firm Silver Lake in a $500mn deal that valued it at $4.8bn."}],[{"start":246.48,"text":"Additional reporting by Chloe Cornish, Lucy Fisher and Euan Healy"}],[{"start":254.25,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1790389718_2254.mp3"}