Manchester City has responded to being found guilty of all financial charges by an independent commission in its long-running case with the Premier League, confirming it will appeal the decision.
Premier League findings
The Premier League said City was found to have arranged "sham contracts" with commercial partners, and to have relied on "sham agreements to artificially inflate the club's revenues and reduce its costs".
City said the club was surprised and disappointed by the decision, citing "errors, of law, principle and fact" in the commission's opinion.
Club's statement
In a full statement, Manchester City said: "Manchester City FC is both disappointed and surprised by the opinion of the Premier League Commission, that has been published today."
The club added: "The Club is innocent of the accusations made by the Premier League and a comprehensive body of irrefutable evidence exists in support of all of its positions, relating to this case. The Club will therefore be relentless, and where necessary proactive, in any and all appropriate regulatory and legal forums."
Appeal process
The statement continued: "The Premier League process remains ongoing, with significant elements uncompleted. Manchester City FC will now pursue the appeal avenues open to it, on the basis that the opinion contains clear material errors, of law, principle and fact, and is unsafe."
The club also noted: "The Club has diligently respected due process for eight years on the basis that the Premier League Board and Executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence."
City said it is "obviously restricted in what it can say further until all future proceedings are complete".
