Random Ads
Content
Content
Content

La Liga Chief, Javier Tebas Reveals Why He Reported Manchester City To EC

5 hours ago 27

La Liga president, Javier Tebas has reported Manchester City to the European Commission (EC), citing potential violations related to regulations governing state-owned companies.

At the FT Business of Football Summit, Javier Tebas, who has expressed concerns about Manchester City in the past, disclosed that this complaint was filed in 2023.

He indicated that the case is currently in the “investigation phase” by the EC, which is the executive body responsible for enforcing laws among European Union (EU) member states.

Tebas raised concerns about what he perceives as a structure that may circumvent existing rules, particularly involving various companies in the United Arab Emirates that operate outside the City Football Group framework.

La Liga believes this structure may give the Premier League champions an unfair competitive edge in domestic competitions and the Champions League.

While Manchester City have not made a public statement regarding these allegations, club sources are aware of them and strongly deny any wrongdoing, according to the BBC.

Tebas elaborated on his concerns, noting that Manchester City appears to utilize a range of companies that are not officially part of the City Football Group.

He stated, “These companies incur expenses without impacting the club’s financial standing. This raises important questions about transparency and governance that all clubs should adhere to, both on the sporting and financial fronts.”

He mentioned that they have submitted information under the Foreign Subsidies Regulation, which took effect on July 12, 2023, granting the EU the authority to investigate potential issues regarding state-controlled foreign subsidies.

Tebas emphasized the importance of ensuring that all clubs are accountable to consistent transparency guidelines.

Manchester City, while choosing not to comment on the specifics of the allegations, has pointed to their publicly available financial records as evidence of compliance.

Note that aside from the case escalated by Javier Tebas against Manchester City, the reigning Premier League champions are currently awaiting the outcome of a hearing concerning 115 charges related to potential financial rule violations in the English elite league.

Read Entire Article