Manchester City set up fake contracts with several commercial partners to hide secret funding exceeding £830m, the Premier League says.
The league announced City have been convicted on every count of breaching Premier League financial rules from the 2009‑10 season through 2017‑18.
An independent commission concluded that during that span the club orchestrated sham contracts and relied on bogus agreements to artificially boost revenue and cut costs.
The club still denies any misconduct and must file an appeal by 2 October.
Last week news broke that City were found guilty of most of the 115 alleged financial breaches; on Tuesday the league released a redacted commission report.
The report noted the charges involved well over 100 alleged individual breaches across four broad categories.
It also determined City were guilty of every charge except one concerning non‑cooperation, and that several key witnesses gave false evidence.
The bogus commercial deals formed part of a disguised funding scheme worth £830.69 m.
City logged £360 m in sponsor fees during the three title‑winning seasons – 2011‑12, 2013‑14 and 2017‑18 – but only £43 m was genuine, the rest was masked owner money.
“The relevant sponsorship agreements were found to be shams, or at minimum did not reflect their economic substance,” the commission wrote.
It describes deliberate or reckless conduct intended to skirt Premier League rules, allowing City to dodge what would have been the biggest single‑season loss in league history in 2009‑10.
The commission highlighted the enormity of the evidence, noting an index of more than 750 pages and a core bundle running into tens of thousands of pages.
City are owned by the Abu Dhabi United Group, which took control in 2008 and is referred to as “ADUG” in the report.
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Richard Masters, Premier League chief executive, said: “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.
“It also vindicates the Premier League’s decision to pursue this case against Manchester City. While the process to date has been both long and difficult, the League has remained determined that the facts be established independently.
“It is a key responsibility of the Premier League to ensure that the rules, approved by the clubs themselves, are upheld to protect the integrity of the competition. It is paramount that the League remains competitive and fair for all clubs and for the fans. We take that role extremely seriously.”
The league added that City’s sanction will be dealt with in a separate hearing with the independent commission.
League rules require that the hearing stay private and confidential.
Lisa Nandy MP, Culture, Media & Sport secretary, told the BBC: “It’s incredibly serious, the Premier League report is incredibly stark.
“This is causing a lot of concern for Man City fans and all fans of Premier League football.”
David Bernstein, former City chairman (1998‑2003), warned that the Premier League’s credibility is at stake after the verdict.
“It is damning beyond belief. They’ve talked about producing false documentation and a panel of behaviour over a number of years which is quite unbelievable,” Bernstein said.
“There’s always a school of thought among lawyers to deny, deny, deny until the end, but this is a football club in a league, and the whole credibility of the Premier League and competition is at stake. This is very serious and I wonder if the accusations are so severe that some issues might need referral to authorities outside the league.
“Sanctions cannot be merely financial. Money means little to the Abu Dhabi owners. If the appeal fails, Manchester City cannot stay in the Premier League – they must face a penalty that removes them from the top flight, and I say that as a 70‑year fan.”
What have Manchester City said?
In its own statement, the club said: “Manchester City FC is both disappointed and surprised by the Premier League Commission’s opinion published today.
“The Club is innocent of the accusations and possesses a comprehensive body of irrefutable evidence supporting its positions. We will be relentless and, where necessary, proactive in any appropriate regulatory and legal forums.
“The Premier League process remains ongoing, with significant elements uncompleted. Manchester City FC will now pursue the appeal avenues open to it, on the basis that the opinion contains clear material errors of law, principle and fact, and is unsafe.
“The Club has diligently respected due process for eight years, trusting the Premier League Board and Executive to act as an independent, impartial and fair‑minded regulator, free from partisan influence.
“The Club is obviously restricted in what it can say further until all future proceedings are complete.”
November 2018: Football Leaks allegations emerge with Der Spiegel publishing claims Manchester City breached financial fair play rules.
March 2019: UEFA launches a formal investigation following Der Spiegel’s findings.
May 2019: City criticise the investigation and launch an appeal process.
November 2019: The Court of Arbitration for Sport deems City’s appeal inadmissible.
February 2020: UEFA announces a two‑year ban for City from European competitions and a €30 m fine.
July 2020: City’s European ban is overturned after an appeal to CAS.
July 2021: City lose a jurisdiction ruling allowing media to report the Premier League continues investigating the champions for alleged financial breaches.
April 2022: Der Spiegel publishes a fresh report claiming the Premier League has been probing the club for three years, providing detailed claims.
February 2023: The Premier League charges City with 115 financial breaches.
September 2024: A 10‑week hearing between the Premier League and City on the 115 charges begins.
February 2025: City manager Pep Guardiola says the club expects to learn the verdict “within one month”. Guardiola left the Etihad at the end of last season.
25 September 2026: Reports emerge that a verdict has been reached, with sources telling the BBC City have been found guilty of breaking the majority of the charges.
29 September 2026: Premier League releases its findings via an independent commission and confirms the guilty verdicts.