Etihad Airways, Manchester City’s top sponsor, has threatened legal action against the Premier League following an independent commission’s finding that the club arranged “sham” commercial deals to inflate income. The Abu Dhabi-based carrier “categorically rejects” any implication of involvement in improper arrangements and stated it is “deeply concerned” by the league’s communication, despite its name not appearing in the redacted report. The airline said it would seek legal counsel to protect its interests.
The commission found that between 2009 and 2018, City overstated its income by £830.7mn through disguised equity payments presented as sponsorship revenue. The club’s chief executive, Ferran Soriano, called the ruling a “Premier League conspiracy theory” based on “a single false accusation.” City has maintained innocence since the 2018 investigation and faces 115 charges filed in 2023. Etihad has sponsored City since 2009 and holds naming rights to its stadium.
It also sponsors other City Football Group clubs, including New York City FC and Girona. The airline carried 22.4mn passengers last year. City has until October 2 to appeal.
Source: Financial Times Companies · Summarized by HeadlinesBriefing