TEAMtalk reported that the Financial Reporting Council had begun preliminary inquiries into alleged irregularities in Manchester City's club accounts after the club was found guilty on 114 charges of financial irregularities. The development came while an independent panel was deciding the best course of punishment Manchester City should face.
Regulatory inquiry
TEAMtalk reported that a new investigation into Manchester City's finances had been launched by the UK regulator. TEAMtalk also reported that the Financial Reporting Council said in a letter to the House of Commons business select committee that it is studying alleged irregularities in Manchester City's club accounts.
TEAMtalk reported that only preliminary inquiries have begun. TEAMtalk said it has been confirmed that the Institute of Chartered Accountants in England and Wales have taken regulatory consideration of the case.
Verdict and appeal
Manchester City have been found guilty of inflating their finances by some £830m over nine years between 2009 and 2018. Manchester City continue to protest their innocence and have lodged a rapid appeal against the guilty verdict.
An independent panel is deciding on the best course of punishment that Manchester City should face. It is not known what possible sanctions the club could face as a result if the independent commission also finds them guilty of financial irregularities.
Guardiola's period in charge
Guardiola was in charge of first-team affairs from 2016 onwards during those nine years. TEAMtalk said Guardiola won 20 major trophies during his decade-long stint in charge.
Lahm's column in The Guardian
Speaking in his column for The Guardian, Philipp Lahm said: "As a player and a columnist, I never had an issue with Manchester City – precisely because, for many years, the club avoided buying the most obvious superstars. Guardiola said it himself: the most valuable of the valuable do not go to a club such as City, who aren’t even the biggest football brand in their own home town."
Speaking in his column for The Guardian, Lahm said: "Many became world stars in Manchester. Kevin De Bruyne had been discarded by Chelsea, Rodri’s true class was overlooked in Madrid for a long time, Gündogan’s career was on the brink after injuries, and most recently Gianluigi Donnarumma was no longer wanted in Paris."
Speaking in his column for The Guardian, Lahm said: "In Germany, City signed players from Hamburg, Frankfurt and Wolfsburg. Erling Haaland in 2022 was the first player they targeted who was also pursued by Bayern Munich. City did not operate like Paris Saint‑Germain did in the era before Luis Enrique."
Speaking in his column for The Guardian, Lahm said: "From the outside, City fundamentally did not do much differently from the other 10 or so top European clubs. But what are achievements on the pitch worth if they are accompanied by rule-breaking?"