Football Leaks: Man City shell company hid player costs from UEFA

A German magazine says Manchester City created a shell company for a commercial deal to disguise tens of millions of dollars in income from UEFA investigators.

GENEVA (AP) – A German magazine says Manchester City created a shell company for a commercial deal to disguise tens of millions of dollars in income from UEFA investigators.

Der Speigel cites internal Man City documents to show the team’s holding company, state-backed Abu Dhabi United Group, paid the shell firm to ”buy” player image rights from the club.

Der Speigel says documents detail Man City’s long-term search for ”creative solutions” to hiding expenses and evading UEFA monitoring of spending on players.

Man City risked Champions League expulsion for breaching ”Financial Fair Play” rules.

MORE: PSG, Infantino implicated in Football Leaks reports

The magazine is leading the Europe-wide publication of the ”Football Leaks” documents. It previously reported that Man City threatened to destroy UEFA with legal action before reaching a 2014 settlement to forfeit 20 million euros ($22.8 million) in prize money.

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