An independent commission has determined that Manchester City committed multiple, serious breaches of Premier League financial regulations spanning several seasons. The findings, released in a 40-page document, detail an intricate web of business schemes designed to circumvent league rules between the 2009-10 and 2017-18 campaigns. According to the report, the club artificially inflated revenues and suppressed costs by more than £900 million, while concealing its true financial status from auditors and regulators. Income for the period was found to be overstated by over £830 million, or more than $1 billion. According to the case against the club, City “concealed the true state of its finances” and overstated “income across those years was consequently hugely overstated by over £830 million,” which converts to more than $1 billion. The league also accused City of failing to comply with UEFA’s financial fair play (FFP) regulations between 2013-14 and 2017-18 and failing to follow Premier League rules on profit and sustainability between 2015-16 and 2017-18.
The commission’s report highlighted the use of “sham” contracts with commercial partners that misrepresented the actual agreements between parties. Furthermore, the league accused the club of failing to act in good faith and refusing to cooperate with the lengthy investigation, which first resulted in formal charges being filed in February 2023 following a four-year inquiry. A 42-day hearing concluded in December 2024, leading to this landmark decision which Premier League chief executive Richard Masters described as the most significant in the competition’s history. The club was also accused of understating its expenses by tens of millions of dollars. The hearing and its potential findings have been bubbling away under the surface since the charges were announced in 2023, while Premier League action has continued as normal on the pitch. On Tuesday, the Independent Commission noted it held a 42-day hearing that ended in December 2024 and that it regretted how long it took to publicly release the evidence.
While the specific sanctions have not yet been announced, the Premier League handbook leaves open a range of disciplinary actions. Possible penalties include heavy points deductions, unlimited fines, or even expulsion from the league entirely. CEO Ferran Soriano remains defiant, asserting in an internal message to staff that the club stands by its evidence of innocence and characterizing the accusations as a “Premier League conspiracy theory” based on a single false claim.
Manchester City has officially stated that it remains innocent of the accusations and intends to “pursue the appeal avenues” to challenge the findings. Throughout the ordeal, which dates back to charges first leveled in 2023, the club has consistently denied wrongdoing. During the process, former manager Pep Guardiola had frequently expressed a desire for a swift resolution to end speculation, noting that an independent panel would ultimately decide the matter based on the evidence presented. Cogent evidence” outlining “serious wrongdoing.”, the case lays out “strong.
The scope of the investigation covered eight trophies won by the club during the period in question, including three Premier League titles, three League Cups, and one FA Cup. This investigation is distinct from, though reminiscent of, previous legal challenges; in 2020, Manchester City faced a two-season ban from European competition for alleged breaches of UEFA’s Financial Fair Play regulations. That decision was later overturned by the Court of Arbitration for Sport, which reduced an accompanying $34 million fine to $11.3 million, ruling that the club had failed to cooperate with the governing body rather than confirming the financial misconduct charges. The 2010-11 FA Cup was City’s first major trophy in 35 years – their previous title coming in 1976.
