Manchester City has been found guilty of all finance breach charges after arranging “sham deals”.
The league admitted it broke Premier League financial rules between 2009-10 and 2017-18, the independent commission found.
Companies – a number of whom were part of a disguised funding scheme – were only required to pay a portion of the relevant sponsorship fees.
The probe found that the remainder was funded by Abu Dhabi United Group Investment & Development Ltd (ADUG), the club’s owner at the time.
Sanctions will be set out in a further hearing with the independent commission, the league confirmed.
In a statement, City said the club will pursue an appeal “on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe”.
In the past, the club has consistently denied any wrongdoing, after being charged in February 2023 by the Premier League.
Another hearing concluded in December 2024.

Richard Masters, the chief executive of the Premier League, said the findings “vindicated” the league’s decision to pursue the probe against City.
He said: “The core decision establishes the facts of what happened at Manchester City during this period.
“It details how the club systematically broke Premier League rules for nearly a decade.
“It also vindicates the Premier Leagueโs decision to pursue this case against Manchester City.
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Richard Masters said the findings ‘vindicated’ the league’s decision to pursue the probe
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PA“While the process to date has been both long and difficult, the league has remained determined that the facts be established independently.
“It is a key responsibility of the Premier League to ensure that the rules, approved by the clubs themselves, are upheld to protect the integrity of the competition.
“It is paramount that the league remains competitive and fair for all clubs and for the fans. We take that role extremely seriously.”
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