Connect with us

Sports

EPL: FRC takes over inquiries into Man City accounting irregularities- Report

Published

on

The Financial Reporting Council has confirmed it is leading inquiries into accounting irregularities at Manchester City.

As reported by the BBC on Tuesday, in a letter to the House of Commons Business, Culture, Energy and Sport Committee, the FRC stated it took over “regulatory consideration” of the case from the Institute of Chartered Accountants in England and Wales on 30 September. No formal investigation has begun, but the regulator is making inquiries.

The move follows an independent commission’s finding that Manchester City were guilty of all charges relating to breaches of Premier League financial regulations between the 2009-10 and 2017-18 seasons.

The commission concluded the club artificially inflated its financial position by more than £900 million. City are appealing the verdict, describing it as containing “material errors of law, principle and fact and is unsafe.”

The FRC has greater resources and powers than the previous body and can examine whether BDO, Manchester City’s auditors, conducted the audits in line with the rules. It can also apply sanctions to individuals, such as directors or employees who are members of professional accountancy bodies.

The independent commission found that the club gave a “misleading impression” of a scheme used to disguise the origin of shareholder funds, leaving the auditors “unaware” of it.

BDO, the UK’s fifth-biggest accounting firm and a major player in football auditing, advised more Premier League and Championship clubs than any other firm.

Liam Byrne, chair of the business select committee, highlighted gaps in the FRC’s powers.

In a post on X, he wrote: “The regulator’s letter exposes gaps in its ability to compel evidence from the club and pursue directors who fall outside its disciplinary rules.

See also  Everyone expects Spain to beat us, says Belgium coach

“This raises serious questions about the powers available to hold companies and directors to account. The government has a responsibility to explain why reforms to close these gaps were abandoned, and what will now be done to strengthen accountability.”

Source: punchng.com

FOLLOW US ON:

FACEBOOK

WHATSAPP CHANNEL

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sports

La Liga: PSG defeat will not affect El Clásico – Raphinha

Published

on

Barcelona captain Raphinha has insisted that the 4-2 Champions League defeat to Paris Saint-Germain will have no impact on Sunday’s El Clásico against Real Madrid.

In a post obtained from football transfer expert, Fabrizio Romano on X on Wednesday, asked after the match at the Parc des Princes whether the loss could affect the high-profile La Liga clash, the Brazilian gave a clear response: “No.”

Raphinha downplayed the result, stressing that Barcelona had competed well against the back-to-back European champions on their home ground.

He noted that the team had only dropped three points and that the focus had already shifted to preparing for Real Madrid at Spotify Camp Nou.

The forward also suggested a possible future reunion with PSG in the Champions League.

He said, “There are big chances of meeting PSG on our way again in UCL this season.

“Why not? They are back to back champions and we want to win the UCL, two top teams fighting for the title… there are good possibilities.”

Manager Hansi Flick supported the squad’s readiness by confirming he had deliberately rested midfielder Rodri against PSG.

He said, “Yes. He played a lot of minutes with the national team, also,” Flick said. “At the end, Rodri is fresh for Sunday.”

Barcelona now turn their full attention to the Clásico, determined to put the Paris setback behind them.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

WHATSAPP CHANNEL

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

See also  Oleksandr Usyk Backs Joshua To Beat Fury As Talks For Mega Fight Resume
Continue Reading

Sports

UCL – PSG face Barcelona, Bayern host Arsenal in matchweek three, other fixtures

Published

on

The UEFA Champions League returns on Tuesday with defending champions Paris Saint-Germain hosting Barcelona in one of the standout fixtures of matchweek three, while Bayern Munich welcome Arsenal on Wednesday.

The two-day round of league-phase matches will also see Manchester City host AEK Athens, Liverpool take on Villarreal and Real Madrid face RB Leipzig as the 36-team competition continues, PUNCH Online reports from the UEFA website on Monday.

PSG will enter Tuesday’s encounter at the Parc des Princes looking to build on their 4-2 victory over Manchester City in their previous Champions League outing on October 14.

Barcelona, meanwhile, have won their opening two matches, including a 4-1 victory away to Galatasaray, and will seek to maintain their perfect start against the reigning European champions.

The meeting also brings Barcelona face-to-face with PSG manager Luis Enrique, who previously coached the Spanish club.

On Wednesday, Bayern Munich will host Arsenal in another heavyweight encounter, with both sides coming off contrasting results in their previous European matches.

Arsenal defeated Lille 3-0, while Bayern were held to a 3-3 draw away to Viking.

The fixture offers Arsenal an opportunity to test themselves against one of Europe’s established heavyweights, while Bayern will look to return to winning ways in the competition.

Tuesday’s fixtures

All times are Nigerian time (WAT).

– Fenerbahçe vs Slavia Prague — 5:45pm
– Sabah vs Borussia Dortmund — 5:45pm
– Roma vs Slovan Bratislava — 8pm
– Porto vs PSV Eindhoven — 8pm
– Liverpool vs Villarreal — 8pm
– Manchester City vs AEK Athens — 8pm
– Paris Saint-Germain vs Barcelona — 8pm
– Napoli vs Bodø/Glimt — 8pm
– Stuttgart vs Atlético Madrid — 8pm

See also  AFCON 2025: Mozambique have weapons to beat Super Eagles – Guima

Wednesday’s fixtures

– Como vs Manchester United — 5:45pm
– Lille vs Galatasaray — 5:45pm
– Aston Villa vs Viking — 8pm
– Club Brugge vs Lens — 8pm
– Bayern Munich vs Arsenal — 8pm
– Inter Milan vs Shakhtar Donetsk — 8pm
– Real Madrid vs RB Leipzig — 8pm
– Real Betis vs Feyenoord — 8pm
– Sporting CP vs LASK — 8pm

The league phase features eight matchdays, with the third round scheduled for October 20 and 21.

The league phase will conclude in January 2027, with teams competing for places in the knockout stage.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

WHATSAPP CHANNEL

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Continue Reading

Sports

Man United fine Martínez after hierarchy criticism in EPL

Published

on

Manchester United have fined defender Lisandro Martínez and consider the matter closed after the Argentina international publicly criticised the club’s hierarchy following Tuesday’s Champions League defeat to Atlético Madrid.

Martínez, 28, spoke out in post-match interviews, claiming the club had failed to adequately strengthen the squad in the summer transfer window and left head coach Michael Carrick short of resources.

He specifically said he “expected more from our technical director” Jason Wilcox and suggested the board needed to look beyond players and the manager when assessing the team’s struggles.

As reported by football transfer expert, Fabrizio Romano on X on Friday, his post read, “Manchester United have fined Lisandro Martínez as punishment and consider the case now closed.

“Lisandro spoke to Carrick and the directors to clarify the situation, apologize then now moving on.”

PUNCH Online had reported that Martínez held clear-the-air talks at the club’s Carrington training ground with Carrick, director of football Jason Wilcox, chief executive Omar Berrada and other senior figures. Sources described the meeting as positive.

Afterwards, Martínez issued a public apology on social media. “Today I met with the club’s leadership and the manager. It was a very positive conversation, where we were able to exchange views and speak openly about what happened after Tuesday’s game,” he wrote.

“Everyone knows that I am a passionate person and that I live football with great intensity. The frustration of the defeat led me to express how I felt at a time and place that perhaps were not the right ones, and for that I want to apologise.

See also  Tobi Amusan wins Paris Diamond League

“Our club is at its best when we are all united, and I recognise that my words in that moment did not help with that. I know that every single person at Manchester United is doing everything possible to achieve our shared ambition: bringing the success that this club and its supporters deserve. With this situation now behind us, we are fully focused on winning together.”

United have imposed a fine as formal punishment, according to multiple reports, though the club has not confirmed the exact amount.

Martínez’s current contract expires at the end of the 2026-27 season, with United holding an option to extend it by a further year.

While the immediate disciplinary issue has been resolved, questions remain over his longer-term future at Old Trafford.

Continue Reading

Trending