UAE warns UK over potential fallout from Manchester City sanctions: Report

The United Arab Emirates has warned the UK government that sanctions facing Manchester City could affect its interest in future major investments in Britain, Bloomberg reported Friday, Anadolu reports.

Abu Dhabi-owned Manchester City was found guilty of all charges relating to serious breaches of the Premier League’s financial rules following a four-year investigation.

An independent commission’s findings, published Sept. 29, said the club artificially inflated its financial results by more than £900 million ($1.1 billion) and used “sham contracts.”

Manchester City has denied wrongdoing.

The dispute has also prompted calls from UK lawmakers and tax experts for further scrutiny. They said the club could owe more than £20 million and potentially face a criminal investigation.

According to Bloomberg, British government officials are increasingly frustrated with their UAE counterparts and believe senior figures in the Gulf state must have been aware of the scale of the alleged financial misconduct.

The developments come as the UK and UAE seek to preserve a major financial partnership. The UAE has invested more than £30 billion in major UK sectors over the past five years, including defense, life sciences and technology.

The Premier League confirmed earlier this week that Manchester City had been found guilty of all charges relating to financial rule breaches covering the 2009-10 to 2017-18 seasons.