The Premier League has charged the world’s richest soccer team with breaking financial rules.

Manchester City, which retained its position as the highest revenue-generating soccer team at $794 million for the 2021-22 season, has been referred to an independent commission by the top-flight English league over alleged breaches of its financial rules each season from 2009-10 to 2017-18.

• The Premier League alleges the club failed to provide accurate information representing a “true and fair view of the club’s financial position.”
• Man City also allegedly didn’t provide full details of player remuneration from the 2010-11 to 2015-16 seasons and manager remuneration from the 2009-10 to 2011-12 seasons.
• It also allegedly breached Union of European Football Associations Club Licensing and Financial Fair Play Regulations between 2013 and 2018.

Since the club was purchased in 2008 by a member of the Abu Dhabi royal family, it has spent more than roughly $2.25 billion on buying players, according to Transfermarkt.

The Premier League also claims the club — which Forbes last valued at $4.25 billion — didn’t cooperate or assist with investigations over the last four years.

A commission will be held in private, and the team could face fines, point deductions, or relegation from the league.

Not the First Time

Manchester City was previously given a two-year ban from UEFA competitions for allegedly breaking FFP regulations in February 2020, which was later overturned by the Court of Arbitration for Sport.

Despite a slowing economy, advertisers are still willing to pay top dollar to be in the biggest TV event of the year.

Fox has officially sold out its advertising inventory for Super Bowl LVII in record fashion.

• The network sold 30-second ads for over $6 million on average, with some exceeding a record $7 million.
• While Fox Corp. has sold out in-game Super Bowl commercials, it’s still selling spots for pregame and a potential overtime.
• The company expects to generate more than $500 million in advertising revenue from the game.

As previously reported, Anheuser-Busch bought the most airtime (three minutes) for Sunday’s game despite no longer being the exclusive advertiser in the alcohol category. 

Anheuser-Busch had been the sole alcohol advertiser since 1989, but now Heineken, Diageo, Remy Martin, and Molson Coors will get into the game.

Zero Crypto

A year after Crypto.com, FTX, and Coinbase spent millions on ads, there won’t be a single crypto ad during Sunday’s game. 

“There’s zero representation in that category on the day at all,” said Mark Evans, executive VP of ad sales for Fox Sports, per The Associated Press. 

The digital asset market struggled in the months after those three companies advertised in last year’s Super Bowl, highlighted by FTX’s failure and bankruptcy in November. Sam Bankman-Fried, FTX’s founder and CEO, is currently facing multiple federal fraud and conspiracy charges. 

The family feud embroiling the Baltimore Orioles’ ownership has come to an end.

Lawsuits involving team co-owner Georgia Angelos and her two sons John and Louis have all been settled. John Angelos is the Orioles’ chairman and CEO. 

Georgia’s husband Peter Angelos, 93, has an estimated net worth of $2 billion and is in poor health. 

• In June, Louis Angelos sued his brother and mother, alleging that they were seeking to cut him out of the family fortune. 
• He later added that they drew down a $65 million bank account in part to buy an increased ownership share in the Orioles. John said in January that his parents hold more than 70% of the team.
• Georgia sued Louis in August for “financial elder abuse,” saying that he sought to sell Peter’s law firm, which Louis now runs, to himself.

The suits have all been settled “with prejudice,” meaning none of the parties involved can bring the same suit again.

Empty Nest?

The Orioles rejected a five-year lease extension on Camden Yards in pursuit of a longer-term commitment. The team’s current lease expires at the end of the year.

The team and Maryland Gov. Wes Moore released a statement last week affirming their “commitment to creating a long-term, multi-decade, public-private partnership.”

The Orioles unlock $600 million in public funding on the signing of a new lease.