Opinion: Manchester City and the “115 charges” A proposal for restitution, a lower spending cap and personal accountability

Paul Quinn  CWTE Limited  3 October 2026 IMPORTANT NOTICE Analytical commentary for public discussion, not legal advice. All findings referred to are first-instance findings of the Independent Commission, published in redacted form […]

The Analysis Series: State-linked revenue in the Premier League; Exposure to state-owned, state-controlled & government-funded counterparties, commercial & media rights, aggregate & club by club

Date:  2 October 2026 Author:  Paul Quinn, CWTE Limited Scope:  2026/27 Premier League membership; 2025/26–2027/28 broadcast cycle; latest filed audited accounts Summary Headline finding Central estimate: c.£528m a year,  c.7.5% of projected […]

The Analysis Series: Premier League v Manchester City, Systemic risk assessment after the Independent Commission’s Core Decision

Sporting integrity  •  Compensation cascade  •  Regulatory framework  •  Financial contagion  •  Political response  •  UAE investment risk  •  Ownership governance  •  UEFA Position as at 1 October 2026 Prepared by Paul […]

The Analysis Series: Premier League v Manchester City, Potential civil claimants & hypothetical criminal exposure arising from the Independent Commission Core Decision

30th September 2026 Paul Quinn ; CWTE Limited Author Paul Quinn, The Esk / CWTE Limited Date 30 September 2026 Classification Analytical commentary . Not legal advice. Status of findings First-instance Section […]

Premier League v Manchester City Analysis of the Independent Commission’s Core Decision (Redacted) The Disguised Funding Scheme, the Fordham Arrangement, remuneration devices and non-cooperation: findings, quantification, and implications for the league, the Independent Football Regulator, clubs and counterparties

Paul Quinn CWTE Limited  |  theesk.org 29 September 2026 Primary source: “In the Matter of Premier League Section W Proceedings,  The Football Association Premier League Limited and Manchester City Football Club Limited […]

The Analysis Series: Manchester City FC & City Football Group board relationship mapping: the Abu Dhabi State, its Sovereign investment vehicles, directors’ private interests and club sponsors

Author: Paul Quinn,  CWTE Limited Research current to 29 September 2026 Entities in scope: Manchester City Football Club Limited (00040946); Manchester City Limited (02989498); City Football Group Limited (08355862) This report maps documented […]

The Analysis Series: Sheffield United Ownership, finance and regulatory exposure FY2020/21 – FY2024/25 and post-balance-sheet events to 25 September 2026

  Author: Paul Quinn, CWTE Limited Date: 28 September 2026   Summary This article examines the ownership, financing and regulatory position of The Sheffield United Football Club Limited (company no. 00061564) and its […]

Talking the Blues Podcast – catch up time, a bit of the Ipswich game before a really interesting discussion re Manchester City

Welcome to this week’s Talking the Blues Podcast – we catch up on Everton before focus turns inevitably to the reported 114 breaches by Manchester City. A really interesting, thoughtful conversation which […]

After the reported verdict: Leadership, prevention and the recovery of English football’s integrity following the Manchester City commission findings

After the reported verdict – an opinion paper  Item Detail Author Paul Quinn, CWTE Limited  Date 26 September 2026 Status Opinion. Written on the basis of the verdict as reported on 25 […]

The Analysis series: Manchester City v The Premier League, the verdict, the leak and governance failure

What the 25 September 2026 press reports tell us, tested against my prior analysis, and how far the case evidences governance failure at League, club and Commission level Position as at:  Friday […]

The Analysis Series: Manchester United plc annual report, financial year ended 30 June 2025

Paul Quinn|  CWTE Limited  |   24 September 2026 Primary source: Manchester United plc, Form 20-F for the year ended 30 June 2025 (filed 18 September 2025), including audited consolidated financial statements (auditor: […]

The Analysis Series: FC Barcelona: The €510m financing package and the complete debt position

  Terms of the €210m Senior Secured Media Notes and the €300m Espai Barça extension, with a granular reconstruction of the club’s debt stack at 30 June 2026 and pro forma Item […]

The Analysis Series: Sovereign capital in professional sport

Prepared by Paul Quinn CWTE Limited Summary Sovereign capital has become one of the three structural forces in professional sport, alongside North American private equity and multi-club ownership. It is, however, routinely […]

The Analysis Series: The Florida default judgment (15th September 2026) and the ownership of Botafogo SAF

18th September 2026 What the Fifteenth Judicial Circuit actually decided on 15 September 2026, why Eagle Bidco did not defend, and why the declaration collides with the Brazilian share register, the CAM-FGV […]

Talking the Blues Podcast – post Wolves Carabao Cup win and update on the Friedkins’ intentions for Everton

Welcome to this week’s Talking the Blues Podcast with George and Andy Costigan. We catch up on recent results including the Tottenham and Wolves’ results before turning our attention to the Friedkins’ […]

The Analysis Series: Chelsea FC: Clearlake’s acquisition of the Boehly and Walter stakes; transaction terms, valuation, source of funds, settlement mechanics and a return model for the selling shareholders

Paul Quinn, CWTE Limited  Date:  17 September 2026 Companion papers:  Valuing Chelsea FC in 2026 (18 Aug 2026); Guggenheim and Chelsea FC (29 Aug 2026); Clearlake’s buy-out of Boehly & Walter (11 […]

The Analysis Series: Manchester City v The Premier League

17th September 2026 The Unresolved “115 Charges” Case: Causes of Delay, Comparative Precedent, Stakeholder Implications and Consequences for the Decision and Appeal Previous Article Author: Paul Quinn, CWTE Limited  No liability decision […]

Opinion: CONTEMPT: The Friedkin Group’s treatment of Everton Football Club, its supporters, the community and the city of Liverpool

15th September 2026 Contempt: a feeling for someone or something regarded as unworthy of respect or approval : disdain. Much of the content I have written in recent times has been deliberately […]

The Analysis Series: LIV Golf Chapter 11 Bankruptcy filings

  September 12th 2026 Paul Quinn ·  CWTE Limited Previous LIV Article Income and expenditure, funding, the failed business model, governance failures, the distribution of loss, lessons for custodians and regulators of […]

The Analysis Series: Clearlake’s buy-out of Boehly & Walter: What the £5bn price means, what it changes at Chelsea FC, and what it does not

  Paul Quinn,  CWTE Limited Date: 11 September 2026 Transaction status: Reported as close to agreement; unsigned and unannounced by the club or Clearlake as at the date of this report Series […]