MON, JULY 13 2020-theG&BJournal– Manchester City are set to hand Pep Guardiola, City Manager a bumper new contract to commit him to a long-term future to the club after successful appeal against their Champions League ban for breaking Financial Fair Play rules, The Daily Mail reported today.
Pep is in the final year of his 20 million pounds-a-year contract.
The Court of Arbitration for Sport (CAS) ruled in favour of City this morning after months of deliberations.
Manchester City said on their website today that it ‘’ welcomes the implications of today’s ruling as a validation of the Club’s position and the body of evidence that it was able to present.’’
The full CAS media statement read: The Court of Arbitration for Sport (CAS) has issued its decision in the arbitration procedure between Manchester City Football Club and the Union of European Football Associations (UEFA).
The case concerns an appeal filed by Manchester City FC (MCFC) against the decision of the Adjudicatory Chamber of the UEFA Club Financial Control Body (CFCB) dated 14 February 2020 in which it was deemed to have contravened UEFA’s Club Licensing and Financial Fair Play Regulations and sanctioned with exclusion from participation in UEFA club competitions in the next two seasons and ordered to pay a fine of EUR 30 million.
The Panel of arbitrators in charge of the matter, composed of Mr Rui Botica Santos (Portugal), President, Prof. Ulrich Haas (Germany) and Mr Andrew McDougall QC (France), conducted a hearing with the parties, their legal representatives, witnesses and experts on 8, 9 and 10 June 2020.
Following the hearing, the CAS Panel deliberated and concluded that the decision issued on 14February 2020 by the Adjudicatory Chamber of the CFCB should beset aside and replaced by the following:
a.) MCFC has contravened Article 56 of the Club Licensing and Financial Fair Play Regulations.
b.) MCFC shall pay a fine of EUR 10,000,000 to the UEFA, within 30 days as from the date of issuance of the arbitral award.
The CAS award emphasized that most of the alleged breaches reported by the Adjudicatory Chamber of the CFCB were either not established or time-barred. As the charges with respect to any dishonest concealment of equity funding were clearly more significant violations than obstructing the CFCB’s investigations, it was not appropriate to impose a ban on participating in UEFA’s club competitions for MCFC’s failure to cooperate with the CFCB’s investigations alone.
However, considering i) the financial resources of MCFC; ii) the importance of the cooperation of clubs in investigations conducted by the CFCB, because of its limited investigative means; and iii) MCFC’s disregard of such principle and its obstruction of the investigations, the CAS Panel found that a significant fine should be imposed on MCFC and considered it appropriate to reduce UEFA’s initial fine by 2/3, i.e. to the amount of EUR 10 million.
The final award with reasons will be published on the CAS website in a few days.
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
