Man City guilty verdict could impact transfer plans as banks 'shy away' from lending

Manchester City could find financing transfers more difficult in the wake of their guilty verdict, with reputational damage already taking hold.

City were found guilty in September of breaking the Premier League's financial rules over a nine-year period. An independent commission found them guilty of 114 of the 115 charges levelled against them, finding they had used "sham" contracts to disguise funding of more than £830million.

City have always protested their innocence and they have appealed against the verdict. It emerged on Friday that their appeal would be heard in December, with the verdict then due in the New Year.

But despite the process still playing out, the club are already experiencing some negative impacts, which could affect their plans for the upcoming transfer windows. City spent around £450million on transfers in the summer, splashing out to sign Elliot Anderson and Enzo Fernandez among others.

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Yet their ability to spend big in the future could be hindered by banks' refusal to help finance deals. Bloomberg reports that banks are 'starting to shy away' from deals involving City while they await the outcome of their case.

It is reported that banks have been advancing money to clubs selling players to City, but are reticent to do so now due to reputational damage and potential credit risk.

City could be relegated from the Premier League, hit with a significant points deduction, fined or slapped with a transfer ban in the wake of the bombshell verdict. Meanwhile, The Independent Football Regulator could strip the club from City's owners, the Abu Dhabi United Group.

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Bloomberg reports that City have already experienced the cold shoulder from banks after German lender Oldenburgische Landesbank AG pulled out of a deal to help finance the £34m signing of Allan from Palmeiras in the summer. Had it gone ahead, Brazilian side Palmeiras would have received an up-front payment from the bank secured against future transfer fees.

The process, called transfer receivables, benefits both clubs and banks, but could become off limits to City, depending on the outcome of their appeal. Man City chief executive Ferran Soriano is convinced they will be cleared.

"The whole Premier League case against us is based on a single false accusation - that the owners' personal money was somehow and secretly put into the club via some sponsors from Abu Dhabi. This is just not true," he said in a video message to staff in early October.

"Irrefutable evidence has been provided to the Premier League commission that shows that it could not happen and that it did not happen. This includes bank statements, money transfers, witnesses and everything necessary to categorically demonstrate that the money did not come from the owner. Every other false charge that has been thrown at us - and aggressively marketed and promoted - comes from the simple, central, and completely false accusation."