Over the limit
The independent Commission found that City’s owners put £830.69m into the club disguised as sponsorship; City is appealing. Take that money out and, the Commission found, City broke the Premier League’s spending limit. So which players could City actually have afforded?
Pick the squad City could have afforded within the Premier League limit
- The three tests along the top: City’s loss over three seasons, with the owners’ money taken out, against the Premier League’s £105m limit. More on the rules.
- Red: over the limit in a season he played. Green: within it.
- Tap a player to see his details and drop him. A dropped player was never signed, so his fee, wages and goals go.
- Auto Pick keeps players in the order City signed them, until the money runs out.
- Select the players yourself from the full list under the pitch.
No player is accused of anything; this is about the club’s spending.
The XI with the most league appearances that season. Shirt: squad number. Badge: league appearances, red while City cannot afford him, green once it can. Ball: league goals. Hover over a player for his details, or tap him on a phone.
Rest of the squad · hover for details, click to drop· tap a name for details
Select the players yourselfThe full list of everyone who played from 2013/14 to 2017/18, by signing date, with fees and the transfer fee each saves. Untick a player to drop him.
How the picker works
Transfer fees
The rules spread a fee over the player’s contract. So a dropped player saves a fifth of his fee for each season from 2013/14 to 2017/18 that it still counted. We assume 5-year contracts, because contract lengths are not published. Any fee City later got for selling him is not counted.
Wages
Individual pay is not public. To work out the tests, each season’s wage bill is shared among the players by their share of league appearances. That is not any player’s actual pay, so we do not show it player by player; the tests along the top show only the total. The wage bill also pays staff who are not players, so this overstates the saving. We assume whoever played instead cost nothing.
Goals and results
A dropped player’s league goals are taken out of the matches he scored them in, and the whole table is recalculated, including other clubs’ points. This assumes whoever played instead scored nothing and the rest of each match stayed the same. It ignores defending, assists and goalkeeping, so it is a rough measure, not a prediction. Appearances, goals and scorers are Premier League only, from each season’s Wikipedia article.
Europe
City takes the European place that its new league position actually received that season, as in the explorer. Cup results are not changed, so where City won the League Cup it keeps that Europa League place.
Auto Pick
Auto Pick goes through City’s signings in the order they were made. It starts with the players City already had: those signed before 2009/10, free transfers and academy players. It keeps each new signing only if all three tests can still pass, counting his fee and his future wages. Once there is no room, later signings could not have been afforded and are dropped.
The detail
What the Commission found
- What the Commission found
- Words used on this page
- The spending rules, and when they applied
- Why disguise it?
- How the numbers are worked out
- Before 2015/16
- Transfers, 2009/10 to 2017/18
- Sources
Words used on this page
- PSR (Profitability and Sustainability Rules)
- The Premier League’s spending limit, which applied to City from 2015/16. A club may lose no more than £105m over three seasons, and only if its owners cover the losses by putting money in as shares; otherwise the limit is £15m. The test is run every season, over that season and the two before it (Commission decision, paragraph 43; Nottingham Forest decision).
- Financial fair play (UEFA’s break-even rule)
- UEFA’s spending limit for clubs playing in European competitions, which applied from 2011/12. A club must roughly break even: it may lose €5m over three years, or up to €45m (€30m from 2015/16) if the owners cover it (UEFA).
- Owners’ money
- Money from Abu Dhabi United Group (ADUG), which the decision describes as City’s owner in these seasons. An owner may put in as much as it likes, but it must be recorded as the owner’s investment. The spending limits do not count it as income.
- Sponsorship income
- Money from companies paying to have their name on the shirt, the stadium and so on. It counts as income under the spending limits, which is why recording owners’ money as sponsorship made City’s losses look smaller.
- The four charges
- Charge 1: false accounts, 2009/10 to 2017/18, including pay to the manager and players kept out of their contracts. Charge 2: breaking UEFA’s rules, 2013/14 to 2017/18. Charge 3: breaking PSR, 2015/16 to 2017/18. Charge 4: not cooperating with the Premier League’s investigation, December 2018 to February 2023. The Commission found them all proven except one part of Charge 4, 4(B) (Premier League, 6 February 2023; Commission decision, paragraphs 38 to 45).
- The Commission
- The independent panel the Premier League appoints under its rules (Section W) to hear a case and decide it. It also decides any sanction, at a separate hearing. Its decision can be appealed to a new panel, the Appeal Board; City lodged its appeal on 1 October 2026.
- Spreading a transfer fee
- Clubs do not count a transfer fee all at once. They spread it over the player’s contract: a £50m fee on a five-year contract counts as £10m a year. Accountants call this amortisation.
The spending rules, and when they applied
Before these rules, an owner could put in as much money as they liked, as long as it was recorded as the owner’s money. The rules limited how much a club could lose, whoever paid for it.
- 2010UEFA approves financial fair play. Clubs in European competitions must break even: spend no more than they earn (UEFA).
- 7 Feb 2013Premier League clubs agree their own rules on profitability and sustainability (Premier League).
- May 2014UEFA’s first break-even check, covering 2011/12 and 2012/13. A club may lose €5m over three years, or up to €45m if the owner covers it. The €45m falls to €30m from 2015/16 (UEFA).
- 16 May 2014City settles with UEFA, after UEFA challenged City’s figures for 2011/12 and 2012/13 (Commission decision, footnote 11). €60m withheld from its prize money (€40m of it returnable if City met the terms), a 21-player Champions League squad for 2014/15, limits on losses and transfer spending (UEFA).
- 2015/16Premier League limit applies: losses of no more than £105m over three seasons (Commission decision, paragraph 43).
- 14 Feb 2020UEFA bans City from Europe for two seasons and fines it €30m, finding it overstated sponsorship revenue between 2012 and 2016 (UEFA).
- 13 Jul 2020The Court of Arbitration for Sport lifts the ban. It found most of the alleged breaches “either not established or time-barred”, and cut the fine to €10m for failing to cooperate (CAS).
- 6 Feb 2023The Premier League charges City. The charges include breaking UEFA’s rules in 2013/14–2017/18 and the Premier League’s in 2015/16–2017/18 (Premier League).
- 29 Sep 2026The Commission finds the charges proven. With the owners’ money taken out, City did not meet UEFA’s break-even rule or the Premier League’s limit in any of those seasons (Commission decision, paragraphs 149 and 153).
Why disguise it?
The rules count sponsorship as income, but not money from the owners. Owner money is “ignored for the purposes of determining (1) the Club’s annual profit and loss, and (2) compliance or otherwise with FFP rules” (Commission decision, footnote 6). So £100m from the owners leaves a club’s loss unchanged. Call the same £100m sponsorship, and the loss falls by £100m.
The Commission found this gave City four things. The references are to its decision, which is published in full (PDF) with some names blacked out.
- A smaller loss. City was worried its 2009/10 loss would beat the Premier League record for a single season, Chelsea’s £140m in 2006: “a record that the Club was adamant it should not break” (Commission decision, paragraph 65). By booking owner money as sponsorship at the very end of that season, City “was able to avoid breaking the record for the largest single season loss in PL history” (Commission decision, paragraph 79).
- Looking within UEFA’s rules. To play in Europe, City had to show it broke even. When UEFA challenged City’s figures for 2011/12 and 2012/13, City said it had complied, relying on the full sponsorship sums. The question “was never resolved”; the two sides settled in 2014 (Commission decision, footnote 11). Counted honestly, City failed UEFA’s rule in every season charged (Commission decision, paragraph 149).
- Looking within the Premier League’s limit. Counted honestly, City failed it in every season charged (Commission decision, paragraph 153). Our estimates of how far over, test by test, are in Step 3.
- Hidden from regulators and auditors. It gave “the misleading impression to third parties (including regulators and its auditors)” that City’s income was “far, far greater than was in fact the case” (Commission decision, paragraph 68). Regulators and “even the Club’s auditors … remained unaware” for many years (Commission decision, footnote 7).
What difference did it make? Not the cash. Declared honestly, as the owners’ investment, the same money would still have paid City’s bills, wages and transfer fees.
But the spending limits would not have counted it. On paper City’s losses would have been far bigger: over UEFA’s limit from 2011/12 and over the Premier League’s (PSR) from 2015/16. To stay within the rules, City would have had to spend much less on players and wages, or face sanctions.
Recorded as sponsorship, the money counted as income. That let City keep spending as it did while appearing to stay within the rules. The squad picker shows what spending within the limits would have meant.
How the numbers are worked out
Three steps, each using the one before. The squad picker at the top uses the result.
- Sponsorship City declared. How much of it the Commission found was really the owners’ money.
- Profit or loss without it. Take that money out of City’s published accounts, season by season.
- Against the limit. Compare the result with the Premier League’s £105m limit, and with other clubs that went over.
Sponsorship City declared
City declared this as sponsorship income. The Commission found that the sponsors paid only part of it, and City’s owners paid the rest. These are the Commission’s findings, which City is appealing. The decision gives only the total; the season-by-season figures are as reported by BBC Sport, The Times, The Telegraph, ESPN and Football365.
City’s profit or loss, with and without the owners’ money
The reported profit or loss is from City’s published accounts. The Commission found the owners’ money was counted as income, so taking it out lowers the result by the same amount.
Against the Premier League limit
From 2015/16 a club could lose no more than £105m over three seasons (Commission decision, paragraph 43).
Other clubs that went over
Clubs the Premier League has sanctioned for going over the limit. Each case was one three-season period.
Chelsea: two deals
Chelsea has been punished twice for financial breaches, both times by agreeing a deal instead of contesting a hearing.
- UEFA, June 2025: over UEFA’s spending limit. Chelsea broke UEFA’s break-even rule (now called the football earnings rule) for the years ending 2023 and 2024. It agreed a four-year settlement: €20m paid outright, up to €60m more if it misses its targets, and limits on registering new players for European competitions in 2025/26 and 2026/27. UEFA said it paid particular attention to sales of assets and players between related companies, and adjusted Chelsea’s figures (UEFA summary of the settlement).
- Premier League, March 2026: payments kept out of the accounts. Chelsea agreed a “sanction agreement”: it admitted the breaches and accepted the punishment, with no Commission hearing. Between 2011 and 2018, third parties made payments to players and agents that should have been disclosed to the Premier League. Chelsea accepted fines of £10.75m, the highest the Premier League has imposed (including £750,000 for separate youth-development breaches), a one-year first-team transfer ban suspended for two years, and an immediate nine-month ban on signing academy players. No points were deducted. The Premier League said that “in no scenario” would Chelsea have broken PSR had the payments been disclosed, and that its self-reporting, admissions and cooperation counted in its favour (Premier League statement, 16 March 2026).
The contrast with City: Chelsea’s Premier League case was about hidden payments that did not take it over the limit, and Chelsea admitted it. City’s case, the Commission found, was about hidden owner money that did take it over the limits, and City denies it and is appealing.
A commission starts with 3 points for going over, adds points for how far over, then adjusts for anything that makes the case better or worse. The extra points have not grown in step with the amount: Forest was almost twice as far over as Everton and started from the same 6 points. City’s sanction will be decided at a separate hearing, and also covers the other charges, so these cases do not give a figure for City.
This is our calculation from City’s accounts, not the Commission’s; its own figures are in Appendix 30, which has not been published. The rules let clubs leave out spending on youth teams, women’s football, the community and facilities. Those amounts are not in the accounts, so the true figure is somewhat lower. 2016/17 covers 13 months, because City changed its year end.
Before 2015/16
Transfers, 2009/10 to 2017/18
For reference. Reported fees from each season’s Wikipedia article; free transfers, releases and undisclosed fees count as £0.
Sources
These are also listed, with every other source the site uses, on the Sources page.
- Profit or loss, revenue and wages: Manchester City Football Club Limited’s annual accounts at Companies House (company 00040946), linked from each season in the table.
- Sponsorship, by season: the independent Commission’s findings as reported by BBC Sport, The Times, The Telegraph, ESPN (totals and 2017/18) and Football365 (every season), 29–30 September 2026. The redacted core decision gives the owners’ share in total as “over £830 million” (paragraph 101); the season figures are in Appendix 24, which has not been published.
- Everton, Nottingham Forest, Leicester City and Chelsea: the Premier League’s published commission decisions, linked from each club in the table, its statement on Chelsea’s sanctions (March 2026), UEFA’s summary of its settlement with Chelsea (June 2025), and its statement on Everton’s appeal (26 February 2024).
- Rules timeline: UEFA, the Premier League, the Court of Arbitration for Sport and the Commission’s decision, as linked in each entry. “Spending limit” (PL = Premier League): UEFA’s check of City’s 2011/12 and 2012/13 accounts is from the decision, footnote 11; “charged” follows the Premier League’s charges of 6 February 2023.
- Transfers: Wikipedia’s Manchester City season articles (CC BY-SA 4.0), at the revisions linked under each season. Fees are the figures those articles cite from press reports.
Foul Throw