Football finance expert Kieran Maguire has recently discussed the “huge” financial costs that Manchester City will have spent on legal proceedings.
Back in February, the independent Adjudicatory Chamber of UEFA’s Club Financial Control Body (CFCB) found the Manchester club to have broken the rules and, therefore, banned them from European football for two years and fined them €30m (£26.9m) (per BBC).
However, on Monday, that two-year ban was overturned and the fine cut from €30m (£26.9m) to €10m (£9m) following an appeal to the Court of Arbitration for Sport (CAS) (per BBC).
Prior to the ruling by CAS, though, Maguire discussed the legal costs of the appeal for City in the latest episode of The Price of Football podcast.
He said: “I would love to find out the total legal bill. I think Manchester City have got 4-6 legal firms working on behalf of their case and I can’t believe that these guys will be doing it on a pro-bono basis.
“So, the total cost for City will be huge. Equally, UEFA, for them, this is very much a test case.
“If this goes the way of Manchester City, to a certain extent, Financial Fair Play rules or Profitability and Sustainability rules as we now call them here in the UK, will be in tatters.
“So, UEFA’s reputation’s on the line and Manchester City’s future. If Manchester City get a two-year ban, it’s going to cost them somewhere between £200m-£250m in terms of lost earnings.”
TIF Thoughts…
So, as can be seen in what the finance expert had to say prior to the Court of Arbitration for Sport’s ruling, the decision will seemingly have huge ramifications for both Manchester City and UEFA.
Was it right for Manchester City to have their European ban overturned by CAS?
No, I think it's wrong
Yes, we did nothing wrong
For City fans, though, it seems likely that they will care little for the impact on UEFA as they will be featuring in the Champions League next season as they are comfortably inside the Premier League’s top four (per BBC).