There's people claiming that thefact some evidence was time-barred is somehow evidence that City escaped "on a technicality". This is totally false. Some of the revenue from Etihad & Etisalat was outside the time period but some wasn't and that was examined by CAS.

They found there was no evidence of disguised equity funding. It's 100% clear that the finding would have been exactly the same for the time-barred element of the sponsorships. There was simply no evidence that ADUG funded anything and therefore no "technicality" whatsoever.

Let's be quite clear about this. E&Y audited ADUG's books, according to CAS. They looked at all payments over £250k. Not one went to Etihad or any other partner. Not one.