Manchester City and the Premier League have released statements confirming the club have been found guilty of all charges related to serious breaches of the Premier League’s financial rules over a nine-season period.
Sham contracts and concealed finances
The Independent Commission ruling on the case established that between Seasons 2009/10 and 2017/18, City arranged 'sham contracts' with its commercial partners to inflate its revenue. The club are also said to have misstated accounts and concealed its finances from auditors.
Breach of spending limits
As a result, Manchester City were significantly in breach of both the Premier League’s and UEFA’s spending limits during the period, and they have been found to have fallen short in their co-operation in the investigation.
Appeal deadline
The club now have until October 2nd to confirm their appeal as they continue to argue their innocence as the end of an eight-year process reaches the final stages.
