Man City are confident about 115 charges after Etihad Airways move – Stefan Borson
Manchester City’s relationship with Etihad Airways has been questioned following the 115 charges aimed at the club.
The airline, which is owned by the Abu Dhabi government through the wealth fund ADQ, has sponsored the Premier League champions’ stadium and kit for the best part of the past two decades.
The Times reported on 9 February Etihad is set to unveil plans to float a stake of up to 20 per cent on the Abu Dhabi stock exchange as soon as this month at a potential value of £4billion.
It comes as Man City are waiting to hear the verdict of their 115 charges case after the three-month hearing ended in December.
They are accused of breaching the financial fair play (FFP) rules over a nine-year period and concealing payments through third parties by disguising them as sponsorship revenue.
Former Man City financial adviser Stefan Borson exclusively told Football Insider Etihad’s planned float is an indication the company is confident about the decision going in the club’s favour.
Pep Guardiola has rarely commented on the charges, but he revealed in a press conference on 7 February there will be a verdict and a sentence in “one month”.
Etihad are embroiled in Man City conspiracy
Borson insisted Etihad is involved in the case due to its relationship with Man City.
He told Football Insider: “It’s not a strong signal, but I think it is a soft signal of confidence.
“I find it hard to believe that Etihad would want to be embroiled in something with City that went against them at the same time as an IPO.
“I think that would look very bad and we don’t know what the City decision might say about Etihad and their involvement in City.
“Furthermore, there is going to have to be quite a lot of disclosure around their key marketing partners, their key expenditure, their risks and the historic financials. You can’t shy away from it.
“The CEO has done two pieces that I’ve seen in the UK. I haven’t actually seen him do many pieces outside of the UK, which is interesting in itself.
“Both of those asked him about the value that the company gets from the relationship with City and he was very effusive about the value that the company gets, the rates that they pay and the fair market value. You might say ‘So what? Of course, he’s going to say that’, which is fair, except he doesn’t have to do any interviews right now.
“These are planned financial PR exercises. It’s part of a process and a setup meeting in advance of a corporate activity. I do think you can probably read something into it.
“We will have to see the extent of it, but it seems to me another indicator of confidence from those parties related to the case. Etihad are related to this case, like it or not. The allegation is that Etihad have been involved, effectively in this Manchester City conspiracy to put money into the club.
“That was how City framed it themselves in the Uefa CAS case and we think that this one is very similar. I think it’s an interesting development, but I wouldn’t put too much on it.
“Because it’s a local IPO in Abu Dhabi, they will have to publish a prospectus, they will have to quarterly report and we will see that prospectus quite soon if they are going to imminently IPO, so some of these questions will be answered.”
Man City have shown ‘massive’ confidence in 115 charges case
The Manchester giants spent around £180million on four new signings last month and agreed a new long-term contract with star forward Erling Haaland until 2034.
Borson previously told Football Insider Man City have shown “massive” confidence in their 115 charges case following their business in the January transfer window.
Although Guardiola’s side have now moved back into the top-four places in the Premier League, they are facing the prospect of a Champions League exit this week.
Man City head into their second-leg tie against Real Madrid on Wednesday (19 February) 3-2 down as they look to secure a place in the last 16 of the competition.
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