Manchester City have been found guilty of 114 out of 115 financial charges by an independent commission, with the club vowing to appeal the verdict. The majority of charges covered a nine-year period, with the single breach not proven relating to failing to co-operate with the Premier League's investigation.
A statement released on Tuesday from the Premier League announced the findings of the independent commission, stating that City had arranged "sham contracts" with commercial partners and had been "relying on sham agreements to artificially inflate the club's revenues and reduce its costs."
City's response and official statements
City's response was particularly direct, with club CEO Ferran Soriano sending a video message to staff members while also boldly claiming there is a "Premier League conspiracy theory" against the club. A Man City spokesperson, Khaldoon Al Mubarak, Soriano, the Premier League and Richard Masters have all made official comments regarding this case. Damning assessments have also been delivered by the likes of Culture Secretary Lisa Nandy and football finance expert Kieran Maguire.
Starting from last Friday, almost immediately after the alleged guilty verdict was leaked, a definitive statement was issued through official channels via a City spokesperson. It said: "The Premier League process remains ongoing, with significant elements to be completed, and subject to strict confidentiality. As such Manchester City FC's position remains consistent with the Club's statement of February 2023."
Fewer than 24 hours later, club chairman Khaldoon Al Mubarak weighed in, making it abundantly clear that "the process still has a long way to run" while insisting that despite the "noise swirling around us, nothing has changed." His statement read: "I have been part of this Club for 18 years. I have had the privilege to stand with you in the Etihad, at Wembley, and in Istanbul. This Club matters to me, and you have shown and told me – time and time again - how much Manchester City matters to you. This is why I am writing to you today."
Premier League findings and Richard Masters' comments
The Premier League initially declined to comment on the matter, but on Tuesday evening, a statement was issued where they confirmed that City had been found guilty of all financial charges. The single breach out of 115 that was not proven relates to City's co-operation with the investigation.
The Premier League statement in full read: "An independent Commission has found Manchester City FC guilty of all charges related to serious breaches of the Premier League's financial rules over a nine-season period, and the majority of charges in relation to its failure to co-operate with the League's investigation."
Premier League Chief Executive Officer Richard Masters has repeatedly been pressed over recent years for updates on the case, but was legally unable to comment. That has now changed, with his remarks featured at the end of the Premier League's official statement. 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."
He added: "It also vindicates the Premier League's decision to pursue this case against Manchester City. While the process to date has been both long and difficult, the League has remained determined that the facts be established independently."
City's latest statement and Soriano's video message
The extensive statement from the Premier League was especially critical of City, but the club remained resolute in their response. City's latest statement read: "Manchester City FC is both disappointed and surprised by the opinion of the Premier League Commission, that has been published today."
Soriano, who had already made comments on the verdict in an unofficial capacity this past weekend, then issued a video message to staff members. He said: "I want to share some information related to the ongoing disciplinary process between Manchester City and the Premier League."
He continued: "This has gone for so long that it is important to remind ourselves that the whole Premier League case against us is based on a single false accusation - that the owners' personal money was somehow and secretly put into the club via some sponsors from Abu Dhabi. This is just not true."
Secretary of State for Digital, Culture, Media and Sport Lisa Nandy also made a fresh admission following the guilty verdict. She told Channel 5 news: "I don't want to pre-empt any kind of appeal process, and they are entitled to a fair hearing. But what I would say is that the ultimate sanction is very serious indeed."
Football fans across the country have been eagerly awaiting the verdict of finance expert Kieran Maguire following each significant development in the case, with his latest assessment making for grim reading for City supporters. Speaking on BBC Radio 5 Live: "If you Google what the word 'sham' means, I'm getting the words 'fake, false, fraud'. It's very, very significant. I think the quantum of money involved – £900million over a nine-year period – is a staggering misstatement, and it looks like it's been a corroborative fraud."
Potential punishments and what happens next
A fine, transfer embargo, points deduction and Premier League expulsion are all possible sanctions for Man City. The latter is the punishment many will be clamouring for, but that does not appear feasible as the EFL is separate from the Premier League and therefore is under no obligation to accept City. A points deduction substantial enough to relegate City at the end of a season appeared the more probable outcome.
Appealing the 114 charges represents the clear next move from a City standpoint. Soriano confirmed they would be pursuing this route in his statement, with the Premier League stating they have until October 2 to lodge that challenge. The appeal hearing is anticipated to occur over the forthcoming weeks, with the process allowed under section W of the Premier League regulations. Simultaneously, the hearing regarding what penalties may be handed down to City is also scheduled to take place.
