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- Indexed issues, last 90 days
- 27
- Latest publication
- Sep 29, 2026
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- Earliest in this view
- Sep 5, 2026
Latest issues
United’s New Cash Machine (opens the original)
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Now The Punishment (opens the original)
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“Of course, we can do what we want.” Eight words from a leaked email by City Group board member Simon Pearce, exposed by Der Spiegel in 2018. On Friday an independent commission decided otherwise: guilty on 114 of 115 charges. With no set tariff and no precedent for this scale of cheating, I lay out three potential scenarios for what happens next.The precedents don’t help much. Everton got 10 points, cut to 6 on appeal, for one PSR breach of around £20 million. Forest got 4 point. Chelsea got a
114 of 115 (opens the original)
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On Friday afternoon David Ornstein reported that an independent commission had found Manchester City guilty on 114 of the 115 charges the Premier League brought against them. It has taken 21 months to render a verdict and eight years from when the investigation started to get to this point. The charges cover nine seasons of City’s dodgy accounts. And it says, in effect, that the most successful period in the history of any English club was built on false accounts. Built on a lie.There’s no punis
Full-Year Financials (opens the original)
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Manchester United's full-year financials landed the same week as defeats to City and Brighton and a nervy draw at Fulham. Ed and Jamie's read is that the numbers tell a positive story: record revenue of £677.6 million, operating cash flow more than double what United generated the previous year, and a much smaller real interest bill than the eye-catching accounting figure implies.We work works through where the resilience actually came from: ticket price rises, strong retail performance offsetti
United Inc: Full Year Financials (opens the original)
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#1049 | Manchester United's full-year financials landed the same week as defeats to City and Brighton and a draw at Fulham. Ed and Jamie's read is that the numbers tell a positive story: record revenue of £677.6 million, operating cash flow more than double what United generated the previous year, and a smaller real interest bill than the eye-catching accounting figure implies.The episode works through where the financial resilience came from: ticket price rises, strong retail performance offset
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