Premier League publishes damning verdict on City: independent panel upholds financial charges, condemns ‘fictitious’ contracts

The Premier League has confirmed that Manchester City have been found guilty of breaching financial rules, describing it as the most significant disciplinary case in the championship’s history, in a highly critical statement.

An independent three-person panel has confirmed the charges brought by the Premier League against City in February 2023, more than a year after the hearing ended.

It has been confirmed that City were found guilty of “all charges relating to serious breaches of Premier League financial rules over a period of nine seasons, as well as most of the charges relating to the failure to cooperate in the League’s investigation.”

Among other things, the statement said: “It was found that the purpose of these schemes was to artificially inflate the club’s revenues and reduce its costs by more than £900 million over the period in question, in order to create the impression of compliance with the financial rules. As a result, according to the Commission’s findings, the club submitted inaccurate financial statements and concealed the true state of its finances from auditors and football regulatory bodies.” The Commission concluded that “by its actions, the club clearly intended to evade the Premier League’s rules.”