The Premier League has formally confirmed the independent Commission’s decision finding Manchester City guilty of serious breaches of its financial rules and given the club until Friday, October 2, to appeal.
The League announced the development on Tuesday, saying the Commission found City guilty of all charges relating to serious financial breaches over the nine-season period from 2009/10 to 2017/18.
The Commission also found City guilty of the majority of charges relating to the club’s failure to cooperate with the investigation, with three of four alleged breaches upheld.
According to the Premier League, City arranged “sham” contracts with several commercial partners and relied on other “sham” agreements to artificially inflate revenues and reduce costs.
The Commission found the schemes inflated revenues and reduced costs by more than £900 million during the period, resulting in misstated accounts and concealment of the club’s finances from auditors and regulators.
It also found City significantly in breach of both Premier League and UEFA spending limits, and concluded the club had “made concerted efforts to stop and frustrate” the four-year investigation.
However, sanctions have not yet been decided. The Premier League said sanctions will be addressed separately at a further hearing before the independent Commission, which will remain private until publication is permitted.
City, which won three league titles during the period in question, said it is “disappointed and surprised” by the opinion and insists it is innocent, adding that “a comprehensive body of irrefutable evidence exists” in support of its position.
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