The Premier League said on Tuesday that Manchester City have been found guilty of serious breaches of the Premier League’s financial rules over a nine-season period between 2009 and 2018.
City were found to have arranged “sham” contracts with a number of commercial partners to artificially inflate the club’s revenues, concealing the true state of their finances and avoiding breaches of Premier League’s and UEFA’s spending limits.
“The purpose of these schemes was found to have been to artificially inflate the club’s revenues, and reduce its costs, by more than £900 million during the affected period,” the Premier League said in a statement.
An independent commission also found the club guilty on the majority of charges in relation to their failure to co-operate with the league’s investigation.
No sanction has yet been imposed and City said they will appeal against the decision.
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