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An independent commission found Manchester City guilty of all charges related to serious breaches of English Premier League financial regulations over nine seasons.
The commission's conclusions state:
Manchester City entered into fictitious contracts with several of its commercial partners that did not reflect the true agreements between the parties, and also utilized other fictitious agreements to artificially inflate the club's revenue and reduce expenses.
The club submitted misleading financial statements and concealed its true financial position from auditors and football regulatory authorities.
Manchester City significantly exceeded the spending limits set by both the Premier League and UEFA.
During the Premier League investigation, the club also repeatedly violated its obligation to cooperate and act in good faith towards the league.
Currently, no penalty has been imposed on Manchester City. Sanctions will be considered in a separate meeting.
The Manchester club has the right to appeal the commission's findings and can do so until October 2.
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