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The banks are afraid to cooperate with Citi.

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sportfars · · Source

🇬🇧 UK · מנצ'סטר · Map

The banks are afraid to cooperate with Citi.

The banks are afraid to cooperate with Citi.

According to Bloomberg, banks are less willing to finance transfer deals related to this club because of the uncertainty in the case of Manchester City's financial violations. These banks are waiting to see what punishment the Premier League will consider for City.

One of the important examples is the withdrawal of a German bank from the financing agreement related to the transfer of 34 million pounds of Alan Elias. The German bank was supposed to provide Palmiras with part of the transfer fee early, and in return receive the future payments that City had to pay as backup.

The banks' fear is that the possible penalties of Citi will increase the financial and credit risk of these transactions.

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