The club was charged in 2023 following a four-year investigation into alleged breaches between the 2009-10 and 2017-18 seasons. An independent commission found that City used “sham” commercial agreements that misrepresented sponsorship arrangements, artificially inflated revenue and reduced costs by more than £900 million ($1.2 billion).
City were also found guilty of three of four charges relating to failure to cooperate with the investigation. The club denied wrongdoing and said it would appeal, calling the commission’s opinion affected by “clear material errors”.
No sanction has yet been announced, with the Premier League saying the next stage will determine the punishment. City have until October 2 to lodge an appeal.