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CommentaryRegulatory Death Star

Regulator's 'Absolute Power' Threatens Manchester City Fire Sale After £900 Million Sham Deals Verdict

David Kogan says his clipboard crew can force a sale for being unfit, as City appeals a verdict of £900 million in sham deals and 'concerted' obstruction.

The Etihad Stadium, home of Manchester City Football Club, with its name prominently displayed on the facade.
Little Savage / Wikimedia Commons, CC BY-SA 4.0

The facts

David Kogan, chair of the Independent Football Regulator (IFR), stated that the watchdog possesses "absolute power" to force the sale of Manchester City's ownership if they are deemed to have run the club improperly. This statement comes after an independent commission found Manchester City guilty of circumventing Premier League rules by creating "sham" commercial arrangements that inflated revenues or reduced costs by over £900 million across nine seasons. The commission also found the club made "concerted efforts" to obstruct the Premier League's investigation. Manchester City has appealed the verdict, citing "clear material errors, of law, principle and fact." Kogan emphasized that any action by the IFR would be premature while the appeal is ongoing, but confirmed the regulator's authority to require an owner to divest if their management is not considered "fit, fair or done with propriety." The Financial Reporting Council is also examining the commission's findings and making preliminary inquiries.

Our take

Well, well, well. It turns out there’s one thing even Manchester City’s infinite-money glitch can’t buy: the ‘absolute power’ of a fucking bureaucrat with a stapler. IFR chair David Kogan has popped his head up to remind Sheikh Mansour that his new watchdog can tell him to pack his petrodollars and fuck off if the club is run like a criminal enterprise. Which, given an independent commission just found City guilty of creating over £900 million in ‘sham’ commercial arrangements across nine seasons, seems fucking likely. They didn’t just break the rules; they built a whole shadow economy of bullshit deals and then made ‘concerted efforts’ - what a polite phrase for being obstructive cunts - to stop anyone from looking at the receipts. The sheer, brass-balled audacity to now appeal, citing ‘clear material errors’, is like a bank robber appealing his conviction because the getaway car was technically parked in a loading zone. The fraud is so vast it’s practically conceptual. They’re not a football club; they’re a money-laundering scheme that accidentally won some trophies. And Kogan’s ‘absolute power’ is the ultimate ‘find out’ phase - a regulatory boot so far up the arse of sportswashing it could polish a crown prince’s molars. Imagine the fire sale: one lightly used financial doping operation, complete with a legacy of lies and a squad of mercenaries, available to any other nation-state that promises to be slightly less obvious about being a pack of cheating dickheads. Of course, it’s all ‘premature’ while the appeal drags on, because City’s entire strategy is to lawyer the game into a stalemate until the sun explodes. They’ll tie the process in more knots than a pretzel factory, hoping everyone forgets about the billion quid in fictional sponsorship from a company that probably thinks Etihad is a type of yogurt. But the spectre is there now: the possibility that the whole fraudulent project, this monument to vanity and rule-fucking, could be told to put its toys back in the box and get the fuck out of the league. Not with a whimper, but with a regulator’s ‘absolute’ bootprint on its expensive, cheating arse. Beautiful. Now that’s a fair play award. Buy a book, you frauds. Buy a book on how to not be frauds. Fucking hell.

Sources

01The Guardian US Sport: Football regulator has ‘absolute power’ to force Manchester City sale if verdict upheld02Wikimedia Commons: City of Manchester Stadium, October 2015 - 26.JPG
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