Manchester City’s Emirati chair, Khaldoon al-Mubarak, was granted diplomatic immunity six years ago, potentially complicating legal action after the Premier League found the club guilty of artificially inflating its finances by more than £900mn. The independent commission ruled that City concealed the true state of its finances from auditors and regulators between 2009 and 2018 to circumvent spending limits. The club, owned by Sheikh Mansour bin Zayed al-Nahyan since 2008, strongly denies the charges and will appeal.
The findings could lead to civil action from other Premier League clubs or criminal investigations by the Serious Fraud Office. Al-Mubarak, a senior Abu Dhabi official and chief executive of Mubadala, was placed on the UK’s approved diplomat list in 2020, shielding him from criminal investigation and most civil proceedings. Lawyers note that while he is protected from prosecution, there may be debate over whether his activities were part of his official functions.
City’s chief executive, Ferran Soriano, called the case based on a “single false accusation” and stated that irrefutable evidence shows the owners’ personal money was not secretly funneled through sponsors.
Source: Financial Times Companies · Summarized by HeadlinesBriefing