Companies House update hints at Man City transfer spending spree – Manchester Evening News

With the untold riches of Sheik Mansour behind the club, it’s unlikely Manchester City will be short of a few quid anytime soon.

And according to documents posted on Companies House, the club has agreed to hand over to a bank its rights to certain Premier League payments in the future to get paid early.

Man City have handed over to Barclays certain remaining money owed from the Premier League for the 2018/19 season.

Meanwhile, the club has also handed over money owed for the upcoming 2019/20 season, “which are payable in the 12 months following the date of this deed.”

The deed is dated 29 May.

Barclays are of course the official bank partner of the Premier League.

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The move could of course free City to have summer spending spree, however the decision could have been made for a number of reasons.

Last season, Man City were entitled to receive just under £151million from the Premier League, after finishing top with 98 points.

The club’s prize money was slightly less than Liverpool’s £152million, owing to the club appearing on TV less than Jurgen Klopp’s men – 26 times to 29.

Such transactions are becoming increasingly common in football, as transfer fees continue to climb.

According to The Financial Times , typically through arrangements like these, the money received by a club is at a discount to the money it is due – providing an incentive for the bank to lend.

A prominent sports financier estimated that the discount is often around 4-5%.