Key facts
- Manchester City found guilty of 115 Premier League financial rule breaches.
- Charges cover period from 2009-10 to 2018-19.
- Club accused of "sham" contracts to inflate revenue by over $1bn.
- CEO Ferran Soriano called investigation a "conspiracy theory."
- Sanctions could include relegation or expulsion.
- Club has until Friday to appeal.
An independent commission has found Manchester City Football Club guilty of 115 charges of breaching Premier League financial rules, a verdict described as the most significant in the league's history. The charges, spanning from the 2009-10 to 2018-19 seasons, allege that the club engaged in "sham" commercial contracts to artificially inflate revenues by more than $1 billion and acted "recklessly" and "other than with utmost good faith."
Manchester City's chief executive, Ferran Soriano, referred to the investigation as a "Premier League conspiracy theory" in a video message to staff and players. The Premier League stated that the decision "vindicates the Premier League’s decision to pursue this case against Manchester City" and emphasized its commitment to maintaining competitiveness and fairness.
The club, owned by Sheikh Mansour bin Zayed Al Nahyan since 2008, now faces potential sanctions, which could include a points deduction leading to relegation or even expulsion from the league, alongside significant fines. Manchester City has until Friday to lodge an appeal against the commission's findings.