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The United Arab Emirates has warned the UK government that sanctions facing Manchester City could affect its plans for future major investments in Britain, Bloomberg reported on Friday.
The warning comes after the Abu Dhabi-owned club was found guilty of all charges relating to breaches of the Premier League’s financial regulations following a four-year investigation.
An independent commission, in findings published on September 29, said Manchester City had artificially inflated its financial results by more than £900 million and used what it described as “sham contracts”.
Manchester City has denied the allegations and appealed the findings.
The case has also triggered calls from UK lawmakers and tax experts for further scrutiny, with some arguing that the club could face more than ÂŁ20 million in additional tax liabilities and potentially a criminal investigation.
According to Bloomberg, British government officials have expressed growing frustration with their UAE counterparts and believe senior figures in the Gulf state may have been aware of the alleged financial misconduct.
The development comes as Britain and the UAE seek to maintain a major economic partnership.
The UAE has invested more than ÂŁ30 billion in key UK sectors over the past five years, including defence, 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.
