Uefa review Manchester City’s finances
Manchester City’s finances are being reviewed by Uefa due to the complex nature of the relationship between itself and its parent companies.
City were fined £16 million by Uefa last year under the Financial Fair Play (FFP) targets.
While City claim that no rules were broken via the use of its subsidiary companies Uefa’s investigation could lead to further FFP sanctions if evidence is found that City used subsidiary companies to allow the club to under-report losses in their accounts.
The two companies in question, City Football Marketing Ltd and City Football Services Ltd – incurred costs, of £36.7 million, which included wages, for the year ending May 2014, posting combined losses of £25.9 million.
City, believe themselves to be able to meet the Uefa FFP target after having halved their losses to £23million.
A City spokesperson told the Telegraph: “The examination of the Club’s structure and subsidiary companies is a scheduled and routine part of the UEFA monitoring process.”
This was posted in Bdaily's Members' News section by Sophia Taha .