Manchester City have been found guilty of serious breaches of the Premier League’s financial rules following a four-year investigation into the club’s finances.
An independent commission found the reigning English champions guilty of charges relating to a nine-season period between 2009/10 and 2017/18, as well as the majority of allegations that the club failed to cooperate with the Premier League’s investigation.
According to the commission’s findings, City used what it described as “sham” commercial agreements involving several of the club’s sponsors.
The arrangements allegedly enabled the club to artificially inflate its revenues and reduce its reported costs. The commission found that the schemes increased reported revenues and reduced costs by more than £900 million during the period under investigation.
The Premier League said the arrangements involved funding from Abu Dhabi United Group Investment & Development Ltd (ADUG), the entity that owned Manchester City.
The commission also found that the club submitted misstated accounts and concealed the true state of its finances from auditors and football regulators.
Had the agreements been accurately reflected in City’s accounts, the commission found that the club would have breached both Premier League and UEFA spending limits by a “very substantial amount”.
The commission also upheld three of four allegations that City failed to cooperate with the Premier League during its investigation.
It concluded that the club had made “concerted efforts to stop and frustrate” the investigation.
Premier League chief executive Richard Masters said the ruling established what happened at the club during the period in question.
“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.”
Masters described the disciplinary case and decision as the most significant in Premier League history.
However, no sporting punishment has yet been imposed.
The issue of sanctions will be dealt with separately by the independent commission at a further hearing. Possible sanctions under Premier League rules include fines, points deductions and other sporting penalties.
The hearing on sanctions will remain private until publication of the outcome is permitted.
Manchester City have the right to appeal the findings and have until Friday, 2 October, to exercise that right.
The Premier League said it intends for the entire process, including any appeal and publication of relevant decisions, to be completed as soon as possible.
The league launched its investigation in December 2018 before formally issuing a complaint against City in February 2023.
The independent commission held a 42-day hearing, which concluded in December 2024. The commission said its decision took considerably longer than anticipated because of the volume and complexity of evidence, including approximately 7,000 pages of witness and expert transcripts.
The Premier League has published a redacted version of the commission’s core decision, while further details remain confidential.
The case therefore remains ongoing, with Manchester City’s appeal rights and the separate sanction process still to be resolved.
