Football regulator says it can force Manchester City owners to sell
Independent Football Regulator chair David Kogan says the watchdog can require Manchester City’s owners to sell if they are found to have run the club improperly. An independent commission found City had breached Premier League financial rules, but the club has appealed; Kogan said the IFR will wait for that process to conclude before deciding whether to investigate separately.
Bottom line — City’s appeal comes before any decision on a separate IFR investigation or potential ownership action.
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The commission found City used commercial arrangements to inflate revenues or reduce costs by more than €1bn (£900m) over nine seasons, according to the Guardian.
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The commission also found City made “concerted efforts” to obstruct the Premier League’s investigation, the Guardian reported.
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City says the verdict contains material errors of law, principle and fact, and is unsafe, according to the Guardian.
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Kogan said the IFR would assess owners and senior club officials against its own standards, rather than impose sporting sanctions on clubs, the Straits Times reported.
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Kogan said the legislation does not let the IFR block a takeover solely because the buyer is a sovereign fund, the Straits Times reported.
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The Financial Reporting Council is making preliminary enquiries into the commission’s findings to establish whether there are grounds for a formal investigation, the Guardian reported.
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Kogan has pledged to resign if there is political interference in any IFR investigation, the Guardian reported.