A cut-price club legend: Why Atletico Madrid gave Man City a discount on Sergio Aguero in 2011

The Premier League announced that an independent commission found Manchester City guilty of serious financial breaches over a nine-season period, as well as failing to cooperate with the investigation.

Consequently, every signing the club made during that timeframe is now under intense scrutiny. This naturally includes the high-profile arrival of Sergio Aguero in July 2011. The club's all-time top goalscorer went on to net 260 goals in 390 matches, winning five Premier League titles, one FA Cup and six League Cups.

Spanish outlet Mundo Deportivo reports that Atletico Madrid surprisingly sold Aguero to Man City for a fee lower than an offer previously tabled by Real Madrid. The English club paid €36 million, plus an additional €4m in variables.

However, Real Madrid president Florentino Perez was reportedly willing to pay the player's full €45m release clause. While Aguero was completely open to joining their city rivals, Atletico Madrid chief executive Miguel Angel Gil Marin intervened. He firmly blocked the move, knowing that selling to their fiercest rivals would provoke furious protests from supporters.

To avoid a massive fan revolt, Gil Marin travelled to the United States to meet with Manchester City chairman Khaldoon Al Mubarak and former sporting director Brian Marwood.

During a meeting in a restaurant, they successfully negotiated the transfer. In the absence of official documents, the initial agreement was famously drafted on a piece of a tablecloth. Therefore, the reduced fee for Aguero was strictly driven by Atletico Madrid needing to avoid internal chaos. Gil Marin recently took a similar stance by refusing to sell Julian Alvarez to Barcelona to avoid strengthening a direct rival.

Man City have until Friday to appeal the independent commission's devastating ruling. While the Aguero transfer appears clear of illicit financial manipulation from the selling side, the club must prepare for an intense legal battle as regulators determine the exact sanctions for their decade-long financial breaches.